Last $5.11 USD
Change Today +0.11 / 2.20%
Volume 153.1K
DXLG On Other Exchanges
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As of 5:20 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

destination xl group inc (DXLG) Key Developments

Destination XL Group, Inc. Plans to Open 50 Additional 5,000 to 6,000 Square Foot DXL Stores

Destination XL Group, Inc. announced that the company anticipates to open 50 additional 5,000 to 6,000 square foot DXL stores in select smaller markets and in markets where geographical considerations warrant an additional presence.

Destination XL Group, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended August 2, 2014; Reaffirms Earnings Guidance for the Fiscal 2014

Destination XL Group, Inc. reported consolidated earnings results for the second quarter and six months ended August 2, 2014. For the quarter, the company reported sales were $103,707,000 compared with $98,046,000 in the second quarter of fiscal 2013. Operating loss was $3,518,000 compared to $2,341,000 a year ago. Loss before income taxes was $3,969,000 compared to $2,582,000 a year ago. Net loss was $4,032,000 or $0.08 per basic and diluted share compared to $1,587,000 or $0.03 per basic and diluted share a year ago. Adjusted net loss was $2,381,000 or $0.05 per share compared to $1,587,000 or $0.03 per share a year ago. The increase of $5.7 million in total sales was primarily due to an increase in comparable sales of $5.6 million and an increase in non-comparable store sales of $5.0 million, partially offset by $3.9 million in closed stores and a decrease of $1.0 million relating to direct business with Sears Canada. For the six months, the company reported sales were $200,474,000 compared with $192,003,000 a year ago. Operating loss was $6,596,000 compared to $360,000 a year ago. Loss before income taxes was $7,458,000 compared to $779,000 a year ago. Net loss was $7,568,000 or $0.16 per basic and diluted share compared to $576,000 or $0.01 per basic and diluted share a year ago. Cash used from operating activities was $2,700,000 compared to $5,700,000 a year ago. Capital expenditures were $18,900,000 compared to $21,100,000 a year ago. The $2.2 million decrease is primarily related to the number of store openings during the first 6 months of fiscal 2014. Adjusted net loss was $4,475,000 or $0.09 per share compared to $576,000 or $0.01 per share a year ago. The company reaffirmed earnings guidance for the fiscal 2014. For the period, the company expected total sales in the range of $413.0 to $418.0 million. A comparable sales increase of 13% to 15% for the approximately 99 DXL stores that will have been open for at least thirteen months. The company expected gross profit margin to be in the range from 45.5% to 46.1%, operating margin loss of between 2.0% to 2.8% and net loss of between $0.21 to $0.27 per diluted share, and $0.12 to $0.16 per diluted share, on a non-GAAP basis. The company expected capital expenditures, net of tenant allowances, of approximately $36.4 million, or a $7.8 million reduction from fiscal 2013. These expenditures will be spent largely on the planned opening of DXL stores, as well as technology projects to continue to improve the e-commerce site and the in-store customer experience. The company projected cash flow from operating activities of $11.6 million. The company projected capital expenditure of $45.7 million.

Destination XL Group, Inc. to Report Q2, 2015 Results on Aug 28, 2014

Destination XL Group, Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Aug 28, 2014

Destination XL Group, Inc., Q2 2015 Earnings Call, Aug 28, 2014

Destination XL Group, Inc., Q2 2015 Earnings Call, Aug 28, 2014

Destination XL Group, Inc. Appoints KPMG LLP as Independent Registered Public Accounting Firm for Fiscal Year Ending January 31, 2015

Destination XL Group, Inc. appointed KPMG LLP as the company’s independent registered public accounting firm for fiscal year ending January 31, 2015, at the annual meeting of stockholders held on August 7, 2014.

 

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