Financial Data and Key Metrics Changes - Net sales for Q1 were $125.4 million, down from $127.7 million in the same quarter last year, with a comparable sales growth of 0.6% after adjusting for closed stores [9][22] - Gross margin decreased to 48.6% from 50% year-over-year, attributed to a decline in merchandise margin and occupancy costs [84][89] - SG&A expenses as a percentage of sales increased to 38.5% from 36.5% in the prior year, reflecting higher payroll costs due to new positions [85] Business Line Data and Key Metrics Changes - Store sales, which account for about 70% of total business, increased by 1.5%, while the direct business, making up the remaining 30%, saw a decline of 1.6% [9] - Tailored clothing represented 21% of Q1 business, up from 18% in the same quarter last year, indicating improved in-stock positions [80] Market Data and Key Metrics Changes - The company experienced a slowdown in traffic in March and April, consistent with broader macroeconomic challenges affecting consumer spending [9][77] - Sales growth was noted in mobile app and online marketplaces, indicating a shift in consumer shopping behavior [9] Company Strategy and Development Direction - The company is focused on strategic transformational changes to increase market share and attract new customers, emphasizing fit, assortment, and exclusivity [3][24] - Plans to remodel existing stores and open up to 50 new stores over the next 3 to 5 years, aiming to enhance customer engagement and drive sales [8][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging economic environment, including inflation and rising interest rates, but expressed optimism about the company's growth trajectory due to its unique market positioning [77][78] - The company is currently trending towards the lower end of its previously reported guidance for fiscal 2023, with expectations of low single-digit or negative comps for Q2 [31] Other Important Information - The company has a strong cash position with $46 million in cash and short-term investments, compared to $7.5 million a year ago, and no outstanding debt [11] - A $15 million stock repurchase program was authorized, with plans to begin executing purchases in Q2 [86] Q&A Session Summary Question: What changes were made in the remodel efforts and their impact on sales? - The company remodeled two stores, which have outperformed regional peers, with improvements in traffic and net promoter scores [35] Question: How have tax refunds impacted customer spending? - Management noted some impact from tax refunds but indicated it was not as pronounced as in other retailers [58] Question: What are the major risks in the company's strategy? - The primary risk identified is the economy, with management acknowledging the challenges of navigating a non-normal year [46] Question: How does the company plan to achieve future growth? - The company believes it can capture market share from competitors by providing a unique shopping experience tailored to the big and tall consumer [47]

Financial Performance - Total sales for the first quarter of fiscal 2023 were $125.4 million, a decrease from $127.7 million in the first quarter of fiscal 2022[97]. - Net income for the first quarter of fiscal 2023 was $7.0 million, or $0.11 per diluted share, compared to $13.4 million, or $0.20 per diluted share, in the prior year[98]. - For Q1 fiscal 2023, the company reported net income of $7.0 million, or $0.11 per diluted share, down from $13.4 million, or $0.20 per diluted share in Q1 fiscal 2022[112]. - Adjusted net income for Q1 fiscal 2023 was $7.0 million, or $0.11 per diluted share, compared to $9.7 million, or $0.14 per diluted share in Q1 fiscal 2022[113]. - Adjusted EBITDA for Q1 fiscal 2023 was $12.6 million, with an adjusted EBITDA margin of 10.1% compared to 13.5% in Q1 fiscal 2022[132]. Sales and Revenue - Comparable sales increased by 0.6%, with store sales up 1.5% and direct sales down 1.6%[101]. - Gross margin rate for the first quarter of fiscal 2023 was 48.6%, down from 50.0% in the first quarter of fiscal 2022[103]. - SG&A expenses as a percentage of sales increased to 38.5% from 36.5% year-over-year, with a dollar increase of $1.7 million[105][106]. Cash Flow and Investments - Cash and investments at April 29, 2023, were $46.0 million, up from $7.5 million at April 30, 2022, with no debt outstanding[99]. - Cash flow from operations decreased to $(4.2) million in Q1 fiscal 2023, compared to $(1.5) million in Q1 fiscal 2022, primarily due to lower earnings[118]. - Free cash flow for Q1 fiscal 2023 was $(5.9) million, down from $(2.7) million in Q1 fiscal 2022[119]. Inventory Management - Inventory was down 11% compared to pre-pandemic levels, with turnover up over 25%[99]. - Inventory increased by approximately $3.4 million to $100.3 million as of April 29, 2023, compared to $96.9 million a year earlier, with inventory turnover up over 25% from pre-pandemic levels[114]. Future Plans and Capital Expenditures - The company plans to open 3 new DXL stores and convert 10 Casual Male stores to DXL format by the end of fiscal 2023, with potential for 50 new DXL stores over the next five years[125][126]. - Capital expenditures for fiscal 2023 are expected to range from $19.0 million to $21.0 million[126]. Stock and Credit Facilities - The Company approved a $15.0 million stock repurchase program in March 2023, expected to begin in the second quarter of fiscal 2023[100]. - The company has a $125.0 million revolving credit agreement with no outstanding borrowings as of April 29, 2023, and an average unused excess availability of approximately $82.5 million during Q1 fiscal 2023[123][124]. Marketing Expenses - Marketing costs for the first quarter were 5.5% of sales, with expectations of approximately 5.7% for fiscal 2023[107]. Taxation - The effective tax rate for the first quarter of fiscal 2023 was 26.6%, compared to 0.8% in the prior year due to the release of a valuation allowance against deferred tax assets[111].

Destination XL Group, Inc. (NASDAQ:DXLG) Q4 2022 Earnings Conference Call March 16, 2023 9:00 AM ET Company Participants Shelly Mokas - VP, SEC and Financial Reporting Harvey Kanter - President and CEO Peter Stratton - CFO Conference Call Participants Jeremy Hamblin - Craig Hallum Mike Baker - D.A. Davidson Operator Good day and thank you for standing by. Welcome to the Destination XL Group, Incorporated Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 28, 2023 (Fiscal 2022) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 01-34219 DESTINATION XL GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-2623104 (State or oth ...

Destination XL Group, Inc. (NASDAQ:DXLG) Q3 2022 Results Conference Call November 17, 2022 9:00 AM ET Company Participants Shelly Mokas - VP, SEC and Financial Reporting Harvey Kanter - President and CEO Peter Stratton - CFO Conference Call Participants Mike Baker - D.A. Davidson Jeremy Hamblin - Craig Hallum Operator Good day, ladies and gentlemen, and welcome to the Destination XL Group Incorporated, Third Quarter Fiscal 2022 Financial Results Conference Call. Today's call is being recorded. At this time, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Securities registered pursuant to Section 12(b) of the Act. Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value DXLG The Nasdaq Stock Market LLC FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 29, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

Destination XL Group, Inc. (NASDAQ:DXLG) Q2 2022 Earnings Conference Call August 25, 2022 9:00 AM ET Company Participants Shelly Mokas - VP, SEC and Financial Reporting Harvey Kanter - President and CEO Peter Stratton - CFO Conference Call Participants Michael Baker - D.A. Davidson Operator Good day, and thank you for standing by. Welcome to the Second Quarter 2022 Destination XL Group Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to han ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Securities registered pursuant to Section 12(b) of the Act. Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value DXLG The Nasdaq Stock Market LLC FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...

Financial Data and Key Metrics Changes - Comparable sales for Q1 2022 increased by 19.5% compared to Q1 2021, driven by a 20.8% increase in stores and a 16.7% increase in the direct channel [38] - Gross margin rate improved to 50% from 45.6% in Q1 2021, with a 440-basis-point improvement attributed to merchandise margin and occupancy costs [43][44] - SG&A as a percentage of sales increased to 36.5% from 33.3% in the prior year, primarily due to increased advertising costs [49] Business Line Data and Key Metrics Changes - The tailored clothing business grew from 12% of Q1 revenue last year to 18% this year, driven by strong sales in suits and dress shirts [31] - The sportswear business showed strong results, with inventory challenges being addressed as the company returns to a fully assorted inventory position [32] Market Data and Key Metrics Changes - All regions showed positive comp sales compared to both 2021 and 2019, with the Southeast, especially Florida, performing exceptionally well [42] - Active customer counts reached the highest levels since tracking began, indicating strong new customer acquisition [18] Company Strategy and Development Direction - The company is focused on a growth mindset, increasing marketing investment to 6.2% of sales to drive new customer acquisition and retention [15] - DXL is transitioning away from discounting and promotions, with a significant reduction in promotional marketing tactics, leading to improved margins [23][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges such as supply chain disruptions and labor shortages but expressed confidence in the company's ability to navigate these issues [36][61] - The company reaffirmed its sales guidance for fiscal 2022, expecting to trend toward the high end of the $510 million to $530 million range [59] Other Important Information - The company has seen improvements in inventory turnover rates, now greater than 2 times, and clearance levels have decreased to 6.9% of total inventory [54] - DXL has a cash balance of $7.5 million and remains debt-free, with no need to access its revolving credit facility [56] Q&A Session Summary Question: Strong new-to-file customer growth and Q2 trends - Management noted that new-to-file growth rates are strong but did not disclose specific percentages, indicating continued positive trends into Q2 [64][66] Question: Marketing strategies for upcoming events - The company will continue to focus on brand positioning and unique customer engagement strategies, with excitement around the upcoming loyalty program launch [70][71] Question: Expectations for DXL essentials revenue - Management indicated that the DXL essentials line could contribute around $10 million in retail sales annually, with potential for growth [76] Question: CapEx needs and future store openings - CapEx is expected to be in the $10 million to $12 million range this year, with plans to open upwards of 50 stores over the next few years [85]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 01-34219 DESTINATION XL GROUP, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 04-2623104 (State or other jurisdiction of incorporation or organiz ...