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Destination XL (DXLG) - 2023 Q4 - Annual Report
2023-03-15 16:00
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 (DXLG) - 2022 Q3 - Earnings Call Transcript
2022-11-17 17:16
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, ...
Destination XL (DXLG) - 2023 Q3 - Quarterly Report
2022-11-16 16:00
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 (DXLG) - 2022 Q2 - Earnings Call Transcript
2022-08-25 19:40
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 ...
Destination XL (DXLG) - 2023 Q2 - Quarterly Report
2022-08-24 16:00
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 ...
Destination XL (DXLG) - 2022 Q1 - Earnings Call Transcript
2022-05-26 15:57
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]
Destination XL (DXLG) - 2023 Q1 - Quarterly Report
2022-05-25 16:00
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 (DXLG) - 2021 Q4 - Earnings Call Transcript
2022-03-17 16:57
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 ...
Destination XL (DXLG) - 2022 Q4 - Annual Report
2022-03-16 16:00
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 (DXLG) - 2021 Q3 - Earnings Call Transcript
2021-11-19 16:54
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 ...