Destination XL Group, Inc. Announces Holiday Sales Results and Updates Guidance
November/December Fiscal 2016 Highlights
Total sales for the 9-week period ending
December 31, 2016decreased $0.3 millionto $97.9 millioncompared to the corresponding period of the prior year. Comparable sales decreased 1.4%, with a 2-year stack increase of 0.7%.
- For the same 9-week period, comparable sales for DXL retail stores decreased 1.0%, with a 2-year stack increase of 6.8%.
Levin further commented, "We observed a noticeable migration with our ‘gift-giver' this season to online shopping. Our Direct business performed well, but was not enough to offset the decline in store sales. We are managing our expenses very well, which we expect will allow us to meet the low-end of our sales, EBITDA and earnings guidance for the year. Our inventory levels are in excellent shape and we believe we are well-positioned as we enter the Spring selling season."
The Company plans to report its actual fourth-quarter and fiscal 2016
financial results on
The presentation will be webcast live and available for replay in the Investor Relations section of the Company's website at investor.destinationxl.com
About Destination XL Group, Inc.
Certain statements and information contained in this press release
constitute forward-looking statements under the federal securities laws,
including statements regarding the Company's expectations with respect
to its positioning for the Spring 2017 selling season and its projected
sales, EBITDA and earnings for fiscal 2016. The discussion of
forward-looking information requires management of the Company to make
certain estimates and assumptions regarding the Company's strategic
direction and the effect of such plans on the Company's financial
results. The Company's actual results and the implementation of its
plans and operations may differ materially from forward-looking
statements made by the Company. The Company encourages readers of
forward-looking information concerning the Company to refer to its
filings with the
Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company undertakes no obligation and expressly disclaims any duty to update such statements.
News Provided by Acquire Media