Destination Xl Group, Inc. Announces Sales Results for the Nine Weeks Ended January 5, 2019; Reiterates Revenue Guidance for the Full Fiscal Year 2019; Announces Launch of Wholesale Division
January 14, 2019 at 05:15 pm IST
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Destination XL Group, Inc. announced sales results for the nine weeks ended January 5, 2019. The company announced that total sales for the nine weeks ended January 5, 2019 increased 1.4% to $102.7 million as compared to $101.3 million for the 9-weeks ended December 30, 2017. Comparable sales increased 3.6% for the nine weeks ended January 5, 2019 compared to the nine weeks ended January 6, 2018. The increase in comparable sales was partially offset by a decrease of $1.6 million from the shift in calendar weeks due to the 53rd week in fiscal 2017.
Based on the holiday sales results and expectations for the remainder of the fourth quarter, the company is reiterating its full-year guidance as previously disclosed.
As part of its strategic growth plan, the company is also announcing that it has launched a wholesale business unit focused on product development and distribution relationships with key retailers. As a result of this new model, the company intends to develop and distribute both private label and co-branded men's big and tall apparel lines.
Destination XL Group, Inc. is a specialty retailer of big and tall men's apparel with retail locations throughout the United States. The Company operates through the Retail segment. It operates under the trade names of Destination XL, DXL, DXL Men's Apparel, DXL outlets, Casual Male XL and Casual Male XL outlets. It operates approximately 232 DXL retail stores, 15 DXL outlet stores, 17 Casual Male XL retail stores, 19 Casual Male XL outlet stores, and a digital business. Its DXL retail stores, e-commerce site, and mobile application offers its customers merchandise to fit a variety of lifestyles from casual to business, young to mature, in all price ranges and in all large sizes from XL and up. In addition, it also offers a selection of shoes in sizes 10W to 18W on its websites. Its Casual Male XL retail stores primarily carry moderate-priced national brands and its own brands of casual sportswear and dresswear. It also operates Casual Male XL outlets and DXL outlets for its customers.
Destination Xl Group, Inc. Announces Sales Results for the Nine Weeks Ended January 5, 2019; Reiterates Revenue Guidance for the Full Fiscal Year 2019; Announces Launch of Wholesale Division