DOW JONES23,064.32+384.33 1.69%
S&P 5002,703.80+40.12 1.51%
NASDAQ7,969.49+56.25 0.71%

Destination XL Group Announces Total Sales For Holiday Period Ended Jan. 4 Were $103.1M

Destination XL Group, Inc. (NASDAQ:DXLG), the largest omni-channel specialty retailer of big and tall men's apparel, today announced that total sales for the 9-week holiday sales period ended January 4, 2020

Benzinga · 01/13/2020 12:16

Destination XL Group, Inc. (NASDAQ:DXLG), the largest omni-channel specialty retailer of big and tall men's apparel, today announced that total sales for the 9-week holiday sales period ended January 4, 2020 (unaudited) increased 0.4% to $103.1 million as compared to $102.7 million for the 9-week holiday sales period ended January 5, 2019.  Comparable sales in our omni-channel retail business for the same period increased 0.4%.  Included in total sales are sales from our wholesale business of $3.4 million for the 9-week holiday sales period compared to $0.9 million for the same period last year.  Sales in our direct business comprised 27.4% of retail sales for the holiday period compared to 24.8% of retail sales in the prior year holiday period.

Based on the holiday sales results and expectations for the remainder of the fourth quarter, the Company expects comparable sales in our omni-channel retail business for the full year to be flat and free cash flow for the full year to be approximately break-even.

Harvey Kanter, President and CEO, commented, “Although our comparable sales performance was not to the level we expected, we delivered a net positive comparable sales result for the holiday season.  Management’s efforts and investment drove greater inflection over our third quarter trends in the direct business and meaningful growth in wholesale.  However, our store business struggled as we continued to observe a downtrend in store traffic that resulted in a low single-digit decrease in store comparable sales.”

The Company plans to report its actual fourth-quarter and fiscal 2019 financial results on March 19, 2020, when management also will conduct its quarterly conference call to discuss its results.  The earnings call will be hosted by Harvey Kanter, President and Chief Executive Officer, and Peter Stratton, Executive Vice President, Chief Financial Officer, and Treasurer.

Comparable sales in our omni-channel retail business includes stores that have been opened for at least 13 months and our direct business.  Sales from our wholesale business are not part of the Company’s comparable sales calculation.  Direct sales are defined as sales that originate online, whether through our website, at the store level or through a third party marketplace.