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 ...

Destination XL Group, Inc. (NASDAQ:DXLG) Q4 2021 Earnings Conference Call March 17, 2022 9:00 AM ET Company Participants Shelly Mokas - Director of Financial Reporting, SEC Compliance Harvey Kanter - CEO and President Peter Stratton - CFO Conference Call Participants Michael Baker - D.A. Davidson Jeremy Hamblin - Craig-Hallum Capital Group Operator Good day, and thank you for standing by. Welcome to the Destination XL Group Fourth Quarter 2021 Earnings Conference Call. At this time all participants are in a ...

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 29, 2022 (Fiscal 2021) 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 2021 Earnings Conference Call November 19, 2021 9:00 AM ET Company Participants Shelly Mokas - Director of Financial Reporting, SEC Compliance Harvey Kanter - Chief Executive Officer and President Peter Stratton - Chief Financial Officer Conference Call Participants Michael Baker - D.A. Davidson Jeremy Hamblin - Craig-Hallum Capital Group Operator Good day, and thank you for standing by. Welcome to the Destination XL Group Third Quarter 2021 Earnings Call. All pa ...

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 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

Financial Data and Key Metrics Changes - Total sales for Q2 2021 were $138.6 million, compared to $123.2 million in Q2 2019, representing a 21.6% increase over 2019 levels [15][44] - Adjusted EBITDA for Q2 2021 was $29.8 million, compared to $7.1 million in Q2 2019, indicating significant profitability improvement [15][56] - Net income for Q2 2021 was $24.5 million, compared to breakeven in Q2 2019 [15][56] - Gross margin rate was 51.7%, up from 44.3% in Q2 2019, driven by improved merchandise margins and reduced occupancy costs [49][50] Business Line Data and Key Metrics Changes - Comparable sales growth in stores was 13.1% and direct sales growth was 52.2% compared to Q2 2019 [14][44] - Direct sales accounted for 28.1% of total sales in Q2 2021, up from 21.1% in Q2 2019, indicating a shift towards online shopping [19][44] - The direct business showed consistent growth month-over-month, with direct comps of 48.8% in May, 53.4% in June, and 54.6% in July compared to 2019 [19] Market Data and Key Metrics Changes - New customers increased by 28.5% in Q2 2021 compared to the same period in 2019, indicating a strong market share gain [9][30] - The company noted that the Southeast, Midwest, and South Central regions performed exceptionally well, while the Pacific Northwest, Northeast, and Mid-Atlantic regions lagged behind [17][18] Company Strategy and Development Direction - The company is focused on a digital transformation strategy initiated in 2019, which has been crucial in responding to the COVID-19 pandemic [6][8] - The strategic goal is to reposition the DXL brand to be less promotional and more focused on customer experience and fit [27][29] - The company aims to enhance its marketing strategy by increasing inclusivity and personalization in its messaging [34][36] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding future performance, despite ongoing challenges from the COVID-19 pandemic and supply chain issues [11][66] - The company raised its full-year sales and earnings guidance based on strong Q2 performance, expecting sales to range from $490 million to $505 million [62][63] - Management acknowledged the need to improve inventory levels to meet strong consumer demand [23][59] Other Important Information - The company has successfully reduced its total debt to $11 million, the lowest level in years, and ended the quarter with zero balance on its revolving credit facility [58] - The company is working to secure more inventory to meet demand, facing challenges from supply chain disruptions and increased freight costs [25][59] Q&A Session Summary Question: Composition of acceleration in comp trends - Management noted that the increase in same-store sales growth was primarily driven by increased traffic, with slight increases in conversion and average transaction levels [70] Question: Insights on new customer growth - New customer growth is primarily from individuals who have not shopped with DXL before, with significant market share opportunities identified [72] Question: Q3 performance expectations - Management indicated that Q3 performance has been consistent with July trends, with no signs of slowdown in customer engagement [75] Question: Geographic performance differences - Management expects regional performance to normalize over the second half of the year, with improvements anticipated in the Pacific Northwest and Northeast [79] Question: Impact of freight on gross margins - Freight costs are estimated to have a drag of 100 to 200 basis points on margins, but improvements in promotional strategies have more than offset this impact [81] Question: Lease negotiations and savings expectations - Management is optimistic about continuing to generate savings from lease negotiations, although it is becoming more challenging than in previous years [83]

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 July 31, 2021 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 (State or other jurisdiction of incorporation or organization) 555 T ...

Destination XL Group, Inc. (NASDAQ:DXLG) Q1 2021 Earnings Conference Call May 27, 2021 9:00 AM ET Company Participants Shelly Mokas - Director of Financial Reporting, SEC Compliance Harvey Kanter - President, Chief Executive Officer and Director Peter Stratton - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Eric Beder - SCC Research Alex Silverman - AWM Investments Michael Baker - D.A. Davidson Raphi Savitz - RYS Advisors Operator Ladies and gentlemen, thank yo ...

[PART I. FINANCIAL INFORMATION](index=2&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the unaudited consolidated financial information, including statements, MD&A, market risk, and controls [Item 1. Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements.) This section presents the unaudited consolidated financial statements for the quarter ended May 1, 2021, covering balance sheets, income, cash flows, and notes [Consolidated Balance Sheets](index=2&type=section&id=Consolidated%20Balance%20Sheets) This table provides a snapshot of the company's financial position, detailing assets, liabilities, and equity at specific quarter-end dates | Balance Sheet Highlights (in thousands) | May 1, 2021 (in thousands) | January 30, 2021 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $5,843 | $18,997 | | Inventories | $88,390 | $85,028 | | Total current assets | $105,285 | $114,130 | | Total assets | $289,685 | $306,755 | | **Liabilities & Equity** | | | | Borrowings under credit facility | $33,371 | $59,521 | | Total current liabilities | $128,865 | $155,035 | | Long-term debt, net | $16,669 | $14,869 | | Total liabilities | $280,201 | $310,832 | | Total stockholders' equity (deficit) | $9,484 | $(4,077) | [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) This table summarizes the company's financial performance over the quarter, detailing sales, gross profit, operating income, and net income | Income Statement (in thousands, except per share) | Three Months Ended May 1, 2021 (in thousands) | Three Months Ended May 2, 2020 (in thousands) | | :--- | :--- | :--- | | Sales | $111,494 | $57,227 | | Gross profit | $50,833 | $13,214 | | Operating income (loss) | $9,867 | $(40,965) | | Net income (loss) | $8,697 | $(41,726) | | Net income (loss) per share - basic and diluted | $0.14 | $(0.82) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This table details the cash inflows and outflows from operating, investing, and financing activities for the reported periods | Cash Flow Summary (in thousands) | Three Months Ended May 1, 2021 (in thousands) | Three Months Ended May 2, 2020 (in thousands) | | :--- | :--- | :--- | | Net cash provided by (used for) operating activities | $7,765 | $(16,811) | | Net cash used for investing activities | $(803) | $(1,590) | | Net cash provided by (used for) financing activities | $(20,116) | $40,210 | | Net increase (decrease) in cash and cash equivalents | $(13,154) | $21,809 | | Cash and cash equivalents, end of period | $5,843 | $26,147 | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) These notes detail accounting policies, financial items, and COVID-19 impact, noting Q1 2021 results may not be comparable to Q1 2020 - The COVID-19 pandemic adversely affected fiscal 2020 operations, including temporary store closures and furloughs, making Q1 2021 financial results potentially incomparable to Q1 2020[22](index=22&type=chunk) | Disaggregation of Revenue (in thousands) | Q1 2021 (in thousands) | % of Total | Q1 2020 (in thousands) | % of Total | | :--- | :--- | :--- | :--- | :--- | | Store sales | $74,880 | 69.1% | $32,327 | 58.6% | | Direct sales | $33,542 | 30.9% | $22,882 | 41.4% | | **Retail segment** | **$108,422** | | **$55,209** | | | Wholesale segment | $3,072 | | $2,018 | | | **Total Sales** | **$111,494** | | **$57,227** | | - On March 16, 2021, the company refinanced its existing **$15.0 million** FILO loan and secured a new **$17.5 million** FILO loan expiring May 24, 2023, with an **8.5%** interest rate as of May 1, 2021[40](index=40&type=chunk) - On February 5, 2021, the company sold **11,111,111** shares of common stock in a registered direct offering, generating **$5.0 million** in gross proceeds and **$4.4 million** net of costs[51](index=51&type=chunk)[65](index=65&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses Q1 2021 financial results, highlighting strong sales recovery, improved margins, cost savings, and strengthened liquidity [Results of Operations](index=19&type=section&id=Results%20of%20Operations) This section details Q1 2021 operational performance, highlighting sales recovery, improved gross margins, and reduced expenses leading to net income | Key Financial Metrics (in millions, except per share) | Q1 2021 (in millions) | Q1 2020 (in millions) | Q1 2019 (in millions) | | :--- | :--- | :--- | :--- | | Sales | $111.5 | $57.2 | $113.0 | | Gross Margin % | 45.6% | 23.1% | 43.7% | | SG&A % of Sales | 33.3% | 56.1% | 39.5% | | Net Income (Loss) | $8.7 | $(41.7) | $(3.1) | | Adjusted EBITDA | $13.7 | $(18.9) | $4.8 | | Diluted EPS | $0.14 | $(0.82) | $(0.06) | - Strong Q1 2021 performance was driven by accelerated sales, resulting in **3.7%** comparable sales growth versus pre-pandemic Q1 2019, with direct business up **40.7%** while stores were down **6.7%**[62](index=62&type=chunk) - Significant cost structure improvements include over **$16.1 million** in expected savings from restructuring **115** store leases and a **$7.5 million** reduction in SG&A costs compared to Q1 2019[62](index=62&type=chunk) - A restructured promotional strategy, shifting from broad-based deep discounts to targeted, full-priced messaging, significantly reduced markdown dollars and improved the gross margin rate[62](index=62&type=chunk)[63](index=63&type=chunk) [Liquidity and Capital Resources](index=22&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity significantly strengthened in Q1 2021 through a stock offering, debt refinancing, and improved operating cash flow - Free cash flow improved by **$25.4 million** to **$7.0 million** for Q1 2021, compared to **$(18.4) million** for Q1 2020, driven by improved earnings and faster inventory turnover[72](index=72&type=chunk)[79](index=79&type=chunk) | Total Debt Outstanding (in thousands) | May 1, 2021 (in thousands) | | :--- | :--- | | Credit facility (Gross) | $33,560 | | FILO Loan (Gross) | $17,500 | | **Total Gross Debt** | **$51,060** | | Less: Debt Issuance Costs | $(946) | | **Total Net Debt** | **$50,114** | - As of May 1, 2021, the company had **$51.1 million** of unused excess availability under its credit facility, a significant increase from **$16.8 million** at May 2, 2020[65](index=65&type=chunk)[75](index=75&type=chunk) - The company actively manages its store portfolio, having renegotiated **115** store leases since fiscal 2020, projected to yield over **$16.1 million** in savings over lease terms[77](index=77&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk.) The company's primary market risk exposure is interest rate fluctuations on its variable-rate debt, with foreign currency risk deemed immaterial - A sensitivity analysis as of May 1, 2021, indicates a **50 basis point** interest rate increase would result in an approximate **$344,000** annualized increase in interest expense[83](index=83&type=chunk) [Item 4. Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded the company's disclosure controls and procedures were effective as of May 1, 2021, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation as of May 1, 2021, the CEO and CFO concluded that the company's disclosure controls and procedures were effective[84](index=84&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter[85](index=85&type=chunk) [PART II. OTHER INFORMATION](index=26&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section provides additional information, including legal proceedings, risk factors, and a list of exhibits filed with the report [Item 1. Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings.) The company is subject to ordinary course legal proceedings, which management believes will not materially impact its financial position or results of operations - Management believes the resolution of current legal proceedings will not materially adversely impact the company's future results of operations or financial position[87](index=87&type=chunk) [Item 1A. Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors.) No material changes have occurred to the risk factors previously disclosed in the company's Fiscal 2020 Annual Report on Form 10-K - No material changes to the risk factors have occurred as previously disclosed in the Fiscal 2020 Annual Report[87](index=87&type=chunk) [Item 6. Exhibits](index=27&type=section&id=Item%206.%20Exhibits.) This section lists exhibits filed with the Form 10-Q, including employment and credit agreements, stock purchase agreements, and officer certifications