Destination XL news and archive

Destination XL gets takeover bid from Fund 1 Investments

Destination XL Group confirms receipt of a non-binding proposal from Fund 1 Investments to acquire all of the outstanding shares of the company. The company said in a release that its board of directors regularly reviews opportunities to create and enhance shareholder value and will carefully review and evaluate this proposal and other strategic...

Business

Destination XL: Q2 sale decline by 10.9 percent, cuts outlook

Total sales for the second quarter at Destination XL were 124.8 million dollars, down 10.9 percent. Comparable sales for the quarter also decreased by 10.9 percent. Based on the current sales trends, DXL is guiding to sales of 470 million dollars to 490 million dollars and an adjusted EBITDA margin of approximately 6 percent, a decrease from our...

Business

Destination XL revises outlook after challenging Q1

Destination XL, big + tall men’s clothing and shoes retailer reported sales for the first quarter were 115.5 million dollars, down 7.9 percent with a comparable sales decrease of 11.3 percent. Net income for the quarter was 6 cents per diluted share, and adjusted EBITDA declined to 8.2 million dollars or 7.1 percent of sales. “We expected fiscal...

Business

Destination XL outlines growth strategy after challenging FY23

Specialty retailer Destination XL Group reported its financials for the fourth quarter and fiscal 2023 ahead of what is to be a year defined by “ambitious” strategic growth initiatives that aim to unlock the potential of its respective men’s big and tall market. For the fourth quarter, the 14-week period of fiscal 2023, total sales came to 137.1...

Business

Destination XL extends CEO Harvey Kanter's term till August 2026

Destination XL Group, Inc. has extended the term of Harvey S. Kanter’s role as the company’s president and CEO. Commenting on the development, Lionel Conacher, chairman of the company’s board, said in a statement: “We are extremely pleased that Harvey has agreed to continue to lead our company into at least mid-August 2026.” “The company has...

Business

Destination XL sales marginally drop in light of ‘broader macro headwinds’

Destination XL group, the specialty retailer of Big + Tall men’s clothing and shoes, has outlined its operating results for Q1 of FY23, where its sales marginally dropped by 1.7 percent, from 127.7 million dollars in the same period of 2022 to 125.4 million dollars. Sales began strong in the quarter, with a 9.1 percent increase in February,...

Business

Destination XL's Q4 comparable sales increase by 10.8 percent

For the fourth quarter of fiscal 2022, total sales were 143.9 million dollars compared to 133.5 million dollars for the fourth quarter of fiscal 2021. Comparable sales for the quarter increased 10.8 percent, driven by a 13.2 percent comparable sales increase from stores and a 6.2 percent increase in the direct business. For fiscal 2022, total...

Business

Destination XL names Dara Pauker as chief operating officer

Destination XL Group, Inc. announced the appointment of Dara Pauker as chief operating officer on January 27, 2023. Pauker, the company said in a release, brings over 20 years of strategy and leadership experience, with a particular emphasis on growth initiatives, and has been working with the company on a long-range strategic growth plan as a...

Business

Destination XL posts comparable sales increase of 7.5 percent

For the nine week holiday period, Destination XL Group, Inc. reported total sales of 111.7 million dollars compared to 106.6 million dollars for the same period last year. Comparable sales for the period increased 7.5 percent, with a comparable sales increase of 8.9 percent from stores and 4.9 percent from the direct business. Based on the...

Business

Destination XL raises full year revenue forecast

Total sales at Destination XL for the third quarter of fiscal 2022 were 129.7 million dollars compared to 121.5 million dollars in the third quarter of fiscal 2021. Comparable sales for the third quarter were up 8.7 percent with comparable sales from the company-owned stores up 10.1 percent and from direct business up 5.5 percent. Based on sales...

Business

Destination XL appoints Jonathan Sainsbury as chief digital and analytics officer

Jonathan Sainsbury is joining Destination XL Group, Inc. as chief digital and analytics officer today. Sainsbury, the company said in a release, brings 20 years of marketing experience, specifically as it relates to performance marketing, analytics and strategic planning. Commenting on Sainsbury’s appointment, Harvey Kanter, the company’s...

Fashion

James Reath to join Destination XL as chief marketing officer

Destination XL Group, Inc. has announced that James Reath will join its team as chief marketing officer on September 26, 2022. Reath will replace Ujjwal Dhoot, who is leaving the company effective October 11, 2022. The company said in a release that Reath brings over 20 years of marketing leadership experience with a particular focus on...