NEW YORK, May 30, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Destination XL Group, Inc. ("Destination XL" or the "Company") (NASDAQ: DXLG). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Destination XL and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] O ...

Financial Data and Key Metrics Changes - The company reported net sales of $115.5 million for Q1 2024, a decrease of 7.9% compared to $125.4 million in Q1 2023, with comparable sales down 11.3% [27][28] - Gross margin rate was 48.2%, slightly down from 48.6% in the previous year, primarily due to increased occupancy costs [30] - EBITDA margin for the quarter was 7.1%, down from 10.1% in Q1 2023, with expectations for a full-year EBITDA margin of 7% [34] Business Line Data and Key Metrics Changes - Comparable sales for stores decreased by 11.4%, while direct sales were down 11% [28][13] - The company opened new stores, contributing to non-comparable sales of $1.8 million, but overall sales were still impacted by macroeconomic challenges [27][28] Market Data and Key Metrics Changes - The company noted that inflationary pressures have led consumers to prioritize spending on essentials, impacting discretionary spending on apparel [14][28] - A report indicated that 55% of apparel units purchased in early 2024 came from the lowest price quartile, up from 35% the previous year, indicating a shift in consumer purchasing behavior [18] Company Strategy and Development Direction - The company is executing a long-range plan (LRP) with four initiatives: increasing brand awareness, expanding store footprint, improving digital experience, and forming alliances [7][10] - A new brand advertising campaign was launched in May 2024, aimed at increasing awareness and market share [20][21] - The company plans to open eight new stores in fiscal 2024, down from the initially planned ten [11] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment over the tough comparable sales performance but remains optimistic about future growth opportunities [5][6] - The company expects sales for the full year to be at the lower end of the previously estimated range of $500 million to $530 million [15][29] - Management highlighted the importance of driving traffic to stores and online as a key focus for future growth [48] Other Important Information - The company maintains a strong balance sheet with cash and short-term investments of $53.2 million and no outstanding debt [34][35] - Inventory management has improved, with a 9% decrease in inventory compared to the previous year [19] Q&A Session Summary Question: Insights on marketing investments and expected response timing - Management indicated that the marketing investment is a long-term strategy, expecting a gradual response over two to three years [40][43] Question: Impact of consumer behavior on channel mix - Management noted that consumers are increasingly shopping at lower price points, which may affect the mix of online and store sales [49][51] Question: Timing of the Nordstrom collaboration launch - The collaboration with Nordstrom is live, with initial sales showing promise, although it is not expected to be material in the current year [54][55]

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 May 4, 2024 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) (State or other jurisdiction of incorporation or organization) 555 Turnpike Str ...

Exhibit 99.1 Destination XL Group, Inc. Reports First Quarter Financial Results Sales of $115.5 million, Net Income of $0.06 per diluted share, Confirms Lower End of Full-Year Guidance Continues to Invest in Strategic Growth Initiatives CANTON, Mass., May 30, 2024 – Destination XL Group, Inc. (NASDAQ: DXLG), the leading integrated-commerce specialty retailer of Big + Tall men's clothing and shoes, today reported operating results for the first quarter of fiscal 2024, and updated sales and earnings guidance ...

Sales of $115.5 million, Net Income of $0.06 per diluted share, Confirms Lower End of Full-Year Guidance Continues to Invest in Strategic Growth Initiatives CANTON, Mass., May 30, 2024 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ: DXLG), the leading integrated-commerce specialty retailer of Big + Tall men's clothing and shoes, today reported operating results for the first quarter of fiscal 2024, and updated sales and earnings guidance for the fiscal year. First Quarter Financial Highlights Manage ...

Sales of $115.5 million, Net Income of $0.06 per diluted share, Confirms Lower End of Full-Year Guidance Continues to Invest in Strategic Growth Initiatives CANTON, Mass., May 30, 2024 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ: DXLG), the leading integrated-commerce specialty retailer of Big + Tall men's clothing and shoes, today reported operating results for the first quarter of fiscal 2024, and updated sales and earnings guidance for the fiscal year. First Quarter Financial Highlights Total ...

CANTON, Mass., May 13, 2024 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ:DXLG), the largest integrated commerce specialty retailer of Big + Tall men's clothing and shoes, announced today the launch of a multichannel marketing campaign, developed in collaboration with creative agency Barrett Hofherr and media agency Mediassociates. The campaign, which starts today in a three-market test, further brings to life DXL's "Wear What You WantSM" mission by highlighting DXL's commitment to providing clothe ...

CANTON, Mass., May 09, 2024 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ:DXLG), the leading integrated commerce retailer of Big + Tall men's clothing and shoes, announced today it will release its first quarter of fiscal 2024 financial results before the market opens on Thursday, May 30, 2024. President and Chief Executive Officer Harvey Kanter and Executive Vice President, Chief Financial Officer, and Treasurer Peter Stratton will host a conference call the same morning at 9:00 a.m. ET to discuss ...

CANTON, Mass., April 29, 2024 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ:DXLG), the country's leading retailer specializing in Big + Tall men's clothing and shoes, is excited to announce a strategic collaboration with Nordstrom, Inc., a leading fashion retailer, which will launch on their digital platform. This collaboration marks a significant step in extending DXL's "fit" expertise and diverse style selection to a new segment of the underserved Big + Tall consumer. The alliance coincides with ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 DESTINATION XL GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-2623104 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 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 February 3, 2024 (Fiscal 2023) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXC ...