Destination XL Group (DXLG) Holiday Comps Increase 3.6%

Destination XL Group, Inc. (NASDAQ: DXLG), the largest omni-channel specialty retailer of big and tall men's apparel, today announced that total sales for the 9-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 9-weeks ended January 5, 2019 compared to the 9-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.

David Levin, Acting CEO, commented, “We are pleased to report that our sales results for the critical holiday selling season were in line with our expectations. We experienced strong sales increases in both our store and direct channels as our customers continue to respond favorably to our merchandise assortment and marketing programs.”

As part of its strategic growth plan, today 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.

“DXL Men’s Apparel is the industry leader in the men’s big and tall apparel and accessories market. We believe there is an opportunity to bring our big and tall expertise in comfort, fit and style to leading apparel retailers who recognize the growth potential of this dynamic market niche. This model will allow DXL to leverage its extensive big and tall experience and industry knowledge with its current product development infrastructure, affording a broader market reach, including new distribution channels and increased brand awareness beyond the current DXL footprint,” Levin concluded.

As part of this initiative, the Company is pleased to announce that it has been selected as the provider of men’s big and tall sizes for the Amazon Private Brand, Amazon Essentials, which is now available for customers on Amazon.com/AmazonEssentials/BigandTall. In particular, the Company will provide a range of styles in sizes 2XL and above with branding that communicates “Amazon Essentials Fit by DXL.”

The Company plans to report its actual fourth-quarter and fiscal 2018 financial results on March 22, 2019, when management also will conduct its quarterly conference call to discuss its results for fiscal 2018, as well as its fiscal 2019 outlook.

As previously announced, Destination XL Group, Inc. will participate in the 2019 ICR Conference to be held at the JW Marriott Orlando Grande Lakes in Orlando, Florida on January 14-16, 2019. Management is scheduled to present on Tuesday, January 15, 2019 at 11:00 a.m. Eastern Time. The presentation will be hosted by David Levin, Acting Chief Executive Officer, and Peter Stratton, Executive Vice President, Chief Financial Officer, and Treasurer. The presentation will be available to interested parties via a live audio webcast at http://wsw.com/webcast/icr5/dxlg/.

The presentation will be webcast live and available for replay in the Investor Relations section of Destination XL's website at investor.destinationxl.com.

You May Also Be Interested In

• Citi agrees to acquire rewards platform Kard Financial
• LogicBio Therapeutics (LOGC) Misses Q2 EPS by 10c
• Faraday Future reports Q2 revenue of $836K, net loss narrows