CANTON, Mass., April 2, 2025 /PRNewswire/ -- Destination XL Group, Inc. (Nasdaq: DXLG), the leading integrated-commerce retailer specializing in Big + Tall men's clothing and shoes, is proud to announce two new cost-saving initiatives designed to bring a heightened level of exceptional value and recognition to its guests – our newly announced Fit Exchange by DXL program and a program supporting those who serve us all.In late February, Fit Exchange by DXL launched, offering customers an easy way to donate cl ...

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Financial Data and Key Metrics Changes - The company's fourth quarter sales were $119.2 million, down from $137.1 million in the same quarter of the previous year, with a comparable sales decrease of 8.7% [39][41] - For the full year, net sales totaled $467 million, reflecting a 10.6% decline compared to the previous year [41] - Adjusted EBITDA for the fourth quarter was $4.2 million, or 3.5% of sales, while for the full year, it was $19.9 million, or 4.3% of sales [45] Business Line Data and Key Metrics Changes - Comparable sales in stores decreased by 6.7%, while direct sales fell by 12.7% [14] - Merchandise margins improved by 50 basis points in the fourth quarter and 40 basis points for the full year, attributed to a shift towards higher private label products and reduced shipping costs [42] Market Data and Key Metrics Changes - Comparable sales were down 12.5% in the first six weeks of the year, with expectations for gradual improvement throughout 2025 [12] - The men's apparel sector, particularly the big and tall segment, has faced significant challenges, impacting overall sales performance [5][41] Company Strategy and Development Direction - The company is focused on stabilizing its business and driving growth by enhancing customer acquisition and controlling costs [10][11] - Strategic initiatives include expanding physical presence with new store openings, enhancing online experiences, and launching a new loyalty program [7][8][30] - The company plans to resume brand marketing campaigns and pursue more store openings once market conditions improve [11][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging retail environment and consumer uncertainty affecting traffic and sales [5][6] - Despite current challenges, management remains optimistic about the company's financial footing and ability to navigate market volatility [9][11] - The company is cautious about issuing guidance for the upcoming fiscal year due to market uncertainties [11] Other Important Information - The company opened seven new stores and converted eight others to DXL, aiming to improve customer access [7][20] - Inventory levels decreased by 6.8% year-over-year, with a clearance penetration of 8.6%, aligning with long-term targets [17][18] - The company repurchased 4.9 million shares at a cost of $13.7 million, representing 21% of its share count over the past three years [47] Q&A Session Summary Question: Insights from the GLP-1 study regarding customer weight loss - Management noted that some customers are dropping out of the size range due to weight loss, but quantifying this is unclear [52] Question: Market share performance relative to competitors - Management indicated that the men's apparel sector is underperforming, with many competitors facing similar challenges [55] Question: Tariff exposure and negotiations with national brands - Management confirmed minimal exposure to tariffs and noted a slight shift towards private brands due to perceived value [60][61] Question: Impact of promotions on gross margin - Management anticipates some erosion in merchandise margins due to increased promotions, but aims to drive customer traffic [68] Question: Details on new store performance and investment costs - Management acknowledged that new stores have not met expectations, with average investments around $1 million per store [82]

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 1, 2025 (Fiscal 2024) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Commission File Number 01-34219 DESTINATION XL GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...

Destination XL Group, Inc. (NASDAQ:DXLG) Q4 2024 Earnings Conference Call March 20, 2025 9:00 AM ET Company Participants Shelly Mokas - Vice President of Financial Reporting & SEC Compliance Harvey Kanter - President & Chief Executive Officer Peter Stratton - Chief Financial Officer Conference Call Participants Michael Baker - D.A. Davidson Jeremy Hamblin - Craig-Hallum Operator Good day, everyone, and welcome to the Destination XL Group, Inc. Fourth Quarter Fiscal 2024 Financial Results Conference Call. To ...

Exhibit 99.1 Destination XL Group, Inc. Reports Fiscal 2024 Fourth Quarter and Full-Year Financial Results Full-Year Sales of $467.0 million, Net Income of $3.1 million, $0.05 EPS, Adjusted EBITDA of $19.9 million CANTON, MA., March 20, 2025– Destination XL Group, Inc. (NASDAQ: DXLG), the largest integrated commerce specialty retailer of Big + Tall men's clothing and shoes, today reported financial results for the fourth quarter and fiscal year 2024. Fourth Quarter Highlights Fiscal 2024 Highlights • Total ...

CANTON, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ:DXLG), the largest integrated commerce specialty retailer of Big + Tall men's clothing and shoes, today reported financial results for the fourth quarter and fiscal year 2024. Fourth Quarter Highlights Total sales for the 13-week fourth quarter were $119.2 million, down 13.1% from $137.1 million for the 14-week fourth quarter of fiscal 2023. Comparable sales for the fourth quarter decreased 8.7% as compared to the fourth qu ...

Core Insights - Destination XL Group, Inc. reported a total sales of $467.0 million for fiscal 2024, a decrease of 10.5% from $521.8 million in fiscal 2023, primarily due to a 10.6% decline in comparable sales [6][10][22] - The company experienced a net income of $3.1 million, or $0.05 per diluted share, compared to $27.9 million, or $0.43 per diluted share, in fiscal 2023 [22][24] - Adjusted EBITDA for fiscal 2024 was $19.9 million, down from $55.9 million in fiscal 2023, reflecting a challenging year for the men's apparel sector [25][26] Financial Performance - Total sales for the fourth quarter of fiscal 2024 were $119.2 million, down 13.1% from $137.1 million in the fourth quarter of fiscal 2023 [6][9] - Comparable sales for the fourth quarter decreased by 8.7%, with store sales down 6.7% and direct business down 12.7% [9][10] - The gross margin for fiscal 2024 was 46.5%, a decrease of 190 basis points from 48.4% in fiscal 2023, primarily due to increased occupancy costs [12][11] Operational Highlights - The company maintained a strong operating regimen, achieving a positive net income and free cash flow despite lower sales [4] - Cash flow from operations for fiscal 2024 was $29.6 million, down from $49.6 million in fiscal 2023 [26] - The company repurchased 4.9 million shares of common stock for $13.7 million during fiscal 2024 [33] Strategic Initiatives - In 2024, the company conducted consumer research to explore brand awareness and trends, which may drive long-term sales growth [5] - The company opened seven new stores and upgraded its eCommerce platform to enhance customer experience [5][36] - For fiscal 2025, the company plans to focus on executing its strategic plan while monitoring macroeconomic factors and potential tariff impacts [6][39] Market Outlook - The company expects comparable sales to gradually improve throughout fiscal 2025, moving from a low double-digit negative in the first quarter to a positive result in the second half of the year [38] - The company has minimal exposure to tariffs in China, Mexico, and Canada, which collectively represent less than 5% of its sourced products [6][39] - The company anticipates capital expenditures for fiscal 2025 to range from $19.0 million to $21.0 million, focusing on store openings and conversions [36]

Group 1 - Destination XL Group, Inc. (DXLG) has opened a new store in Roseville, California, marking its first new store opening of the fiscal year and the eighth in the past 12 months across the United States [1][4] - The new store aims to provide a superior shopping experience for Big + Tall men, featuring exclusive styles and brands such as Polo Ralph Lauren®, Reebok®, and Levi's® [2][4] - DXL has introduced its proprietary FiTMAPSM Sizing Technology in the new store, which captures 242 unique measurements to offer custom clothing options and size recommendations [3] Group 2 - The Roseville store is part of DXL's mission to serve an underserved market, ensuring that Big + Tall men have access to fashionable clothing that fits comfortably [2][4] - DXL operates multiple retail and outlet stores across the United States, along with an e-commerce platform, providing a multi-channel shopping experience for customers [5]

Core Viewpoint - Destination XL Group, Inc. will release its fourth quarter and fiscal 2024 financial results on March 20, 2025, before market opens, followed by a conference call at 9:00 a.m. ET to discuss the results [1]. Company Overview - Destination XL Group, Inc. is the leading retailer of Men's Big + Tall apparel, providing a multi-channel shopping experience through DXL Big + Tall retail and outlet stores, Casual Male XL stores, and an e-commerce platform [4]. - The company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG" [4]. Conference Call Details - Participants can join the conference call by pre-registering online, after which they will receive a dial-in number and unique PIN [2]. - A webcast will also be available for listening, with a replay accessible through the company's website [3].