Destination XL Group, Inc. Reports Holiday Sales Results

Core Viewpoint - Destination XL Group, Inc. has updated its fiscal year 2024 guidance based on holiday sales results, indicating a slight decrease in expected total sales and adjusted EBITDA margin due to consumer spending challenges and price sensitivity [1][6]. Sales Performance - Total sales for the 9-week holiday period ended January 4, 2025, were $94.7 million, down from $102.4 million for the same period in the previous year [6]. - Comparable sales decreased by 7.4%, with in-store sales down 6.2% and direct business down 10.0% [6]. - November sales experienced a decline of 11.8%, but December saw an improvement with a decline of only 4.4% due to successful promotions during Black Friday and Cyber Monday [1]. Fiscal Year 2024 Guidance - Total sales for fiscal 2024 are now expected to be between $467.0 million and $470.0 million, a slight decrease from the previous guidance of $470.0 million [6]. - The adjusted EBITDA margin is projected to be between 4.2% and 4.5%, down from the previous guidance of 4.5% [6]. Financial Reporting - The company plans to report its actual fourth-quarter and fiscal 2024 financial results on March 20, 2025, during a conference call hosted by the CEO and CFO [2]. Non-GAAP Measures - The company provides adjusted EBITDA and adjusted EBITDA margin as non-GAAP measures to help investors better understand its performance [3][4]. - Adjusted EBITDA is calculated as earnings before interest, taxes, depreciation, and amortization, adjusted for any asset impairment charges [4]. Company Overview - Destination XL Group, Inc. is a leading retailer specializing in Big + Tall men's apparel, operating both physical stores and an e-commerce platform [5]. - The company is headquartered in Canton, Massachusetts, and its stock is listed on the Nasdaq Global Market under the symbol "DXLG" [5].