Destination XL Group, Inc. Reports Holiday Sales Results
Destination XL Group (NASDAQ: DXLG) reported holiday sales results and updated fiscal 2024 guidance. Total sales for the 9-week holiday period ended January 4, 2025, were $94.7 million, down from $102.4 million in the previous year. Comparable sales decreased 7.4%, with store sales down 6.2% and direct business down 10.0%.
The company revised its fiscal 2024 guidance, now expecting total sales of $467.0 to $470.0 million, slightly below previous guidance of $470.0 million. Adjusted EBITDA margin guidance was lowered to 4.2% to 4.5% from 4.5%. November sales declined 11.8%, but strategic promotions during Black Friday and Cyber Monday helped improve December's comparable sales decline to 4.4%.
Destination XL Group (NASDAQ: DXLG) ha riportato i risultati delle vendite natalizie e aggiornato le previsioni fiscali per il 2024. Le vendite totali per il periodo festivo di 9 settimane terminato il 4 gennaio 2025, ammontano a 94,7 milioni di dollari, in calo rispetto ai 102,4 milioni di dollari dell'anno precedente. Le vendite comparabili sono diminuite del 7,4%, con vendite in negozio in calo del 6,2% e vendite dirette in calo del 10,0%.
L'azienda ha rivisto le previsioni fiscali per il 2024, ora prevedendo vendite totali comprese tra 467,0 e 470,0 milioni di dollari, leggermente al di sotto delle previsioni precedenti di 470,0 milioni di dollari. La guida sul margine dell'EBITDA rettificato è stata abbassata al 4,2% - 4,5% rispetto al 4,5%. Le vendite di novembre sono diminuite dell'11,8%, ma le promozioni strategiche durante il Black Friday e il Cyber Monday hanno contribuito a migliorare la diminuzione delle vendite comparabili di dicembre al 4,4%.
Destination XL Group (NASDAQ: DXLG) informó sobre los resultados de ventas de vacaciones y actualizó la guía fiscal para 2024. Las ventas totales durante el período festivo de 9 semanas que finalizó el 4 de enero de 2025 fueron de 94.7 millones de dólares, una disminución con respecto a los 102.4 millones de dólares del año anterior. Las ventas comparables cayeron un 7.4%, con las ventas en tienda bajando un 6.2% y las ventas directas disminuyendo un 10.0%.
La compañía revisó su guía fiscal para 2024, esperando ahora unas ventas totales de 467.0 a 470.0 millones de dólares, ligeramente por debajo de la guía anterior de 470.0 millones de dólares. La guía del margen EBITDA ajustado se redujo al 4.2% - 4.5%, desde el 4.5%. Las ventas de noviembre disminuyeron un 11.8%, pero las promociones estratégicas durante el Black Friday y el Cyber Monday ayudaron a mejorar la caída de las ventas comparables de diciembre al 4.4%.
Destination XL Group (NASDAQ: DXLG)는 연휴 판매 결과를 보고하고 2024 회계연도 가이드를 업데이트했습니다. 2025년 1월 4일에 종료된 9주 연휴 기간 동안 총 판매액은 9,470만 달러로, 이전 연도의 1억 2,240만 달러에서 감소했습니다. 비교 가능한 매출은 7.4% 감소했으며, 매장 판매는 6.2%, 직접 판매는 10.0% 감소했습니다.
회사는 2024 회계연도 가이드를 수정하여 이제 총 판매액이 4억 6,700만에서 4억 7,000만 달러에 이를 것으로 예상하고 있으며, 이전의 4억 7,000만 달러보다 약간 낮습니다. 조정된 EBITDA 마진 가이드는 4.5%에서 4.2%에서 4.5%로 낮아졌습니다. 11월 매출은 11.8% 감소했지만, 블랙 프라이데이와 사이버 먼데이 동안의 전략적 프로모션 덕분에 12월의 비교 가능한 매출 감소는 4.4%로 개선되었습니다.
Destination XL Group (NASDAQ: DXLG) a annoncé les résultats des ventes des fêtes et a mis à jour ses prévisions fiscales pour 2024. Les ventes totales pour la période de vacances de 9 semaines se terminant le 4 janvier 2025 se sont élevées à 94,7 millions de dollars, en baisse par rapport à 102,4 millions de dollars l'année précédente. Les ventes comparables ont diminué de 7,4%, avec des ventes en magasin en baisse de 6,2% et des ventes directes en baisse de 10,0%.
L'entreprise a révisé ses prévisions fiscales pour 2024, s'attendant désormais à des ventes totales comprises entre 467,0 et 470,0 millions de dollars, légèrement en dessous des prévisions précédentes de 470,0 millions de dollars. L'indication du taux de marge EBITDA ajusté a été abaissée à 4,2% - 4,5% contre 4,5%. Les ventes de novembre ont diminué de 11,8%, mais les promotions stratégiques lors du Black Friday et du Cyber Monday ont contribué à améliorer la baisse des ventes comparables de décembre à 4,4%.
Destination XL Group (NASDAQ: DXLG) hat die Verkaufsergebnisse für die Feiertage bekannt gegeben und die Prognose für das Geschäftsjahr 2024 aktualisiert. Die Gesamterlöse für die 9-wöchige Ferienperiode, die am 4. Januar 2025 endete, belaufen sich auf 94,7 Millionen US-Dollar, was einen Rückgang gegenüber 102,4 Millionen US-Dollar im Vorjahr darstellt. Die vergleichbaren Verkäufe gingen um 7,4% zurück, wobei die Ladenverkäufe um 6,2% und die Direktverkäufe um 10,0% sanken.
Das Unternehmen hat seine Prognose für das Geschäftsjahr 2024 überarbeitet und erwartet nun Gesamterlöse von 467,0 bis 470,0 Millionen US-Dollar, was leicht unterhalb der vorherigen Schätzung von 470,0 Millionen US-Dollar liegt. Der angepasste EBITDA-Margenprognose wurde auf 4,2% bis 4,5% von 4,5% gesenkt. Die Verkäufe im November sanken um 11,8%, doch strategische Aktionen während des Black Friday und Cyber Monday halfen, den Rückgang der vergleichbaren Verkäufe im Dezember auf 4,4% zu verbessern.
- Strategic promotions during Black Friday and Cyber Monday improved December sales performance
- Holiday period sales declined 7.4% year-over-year
- Direct business sales dropped 10.0%
- Store comparable sales decreased 6.2%
- November sales declined 11.8%
- Lowered fiscal 2024 sales guidance
- Reduced Adjusted EBITDA margin guidance
- Customers shifting to lower-priced merchandise
Insights
The holiday sales report reveals concerning trends for DXLG. Total sales dropped to
The revised guidance signals deepening operational challenges:
- Revenue forecast lowered to
$467-470 million - Adjusted EBITDA margin reduced to
4.2-4.5% from4.5% - November's sharp
11.8% decline only partially offset by December's improved performance
The shift toward entry-level price points indicates margin pressure and suggests consumers are trading down, which could impact profitability in upcoming quarters. With a market cap of
The consumer behavior patterns revealed in this report highlight significant shifts in the Big + Tall retail segment. The disparity between store performance (
The divergence between moderate and premium price point performance is particularly telling - it reflects a fundamental shift in consumer purchasing patterns that extends beyond seasonal fluctuations. This trend aligns with broader retail sector observations where value-seeking behavior is becoming more prevalent across all income segments. The late Thanksgiving timing impact also reveals the growing importance of promotional calendar optimization in driving retail performance.
Updates Fiscal Year 2024 Guidance
CANTON, Mass., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ: DXLG), the leading integrated-commerce specialty retailer of Big + Tall men’s clothing and shoes, today announced the following results for the 9-week holiday sales period ended January 4, 2025 (unaudited):
- Total sales were
$94.7 million compared to$102.4 million for the 9-week holiday sales period ended December 28, 2023. - Comparable sales for the same 9-week holiday period decreased
7.4% , with comparable sales from stores down6.2% and the direct business down10.0% .
Based on the holiday sales results and expectations for the remainder of the fourth quarter, the Company is updating its guidance for fiscal 2024 as follows:
- Total sales for fiscal 2024 are expected to be
$467.0 t o$470.0 million , a slight decrease from its previous guidance of$470.0 million . - Adjusted EBITDA margin of
4.2% to4.5% , as compared to its previous guidance of4.5% . Adjusted EBITDA margin is a non-GAAP financial measure.
“Our sales results for the 9-week holiday period were mostly in line with our expectations given the late Thanksgiving holiday and continued headwinds and challenges regarding consumer spending. Our customers have been very price conscious and, when they shop, they are gravitating toward our more moderate and entry-level price points. We had a slow start to the quarter with November sales down
The Company plans to report its actual fourth-quarter and fiscal 2024 financial results on March 20, 2025, when management will also 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.
Non-GAAP Measures
In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains a projection for adjusted EBITDA margin for fiscal 2024, a non-GAAP measure. The presentation of this non-GAAP measure is not in accordance with GAAP and should not be considered superior to, or as a substitute for, net income, or any other measure of performance derived in accordance with GAAP. In addition, not all companies calculate non-GAAP financial measures in the same manner and, accordingly, the non-GAAP measure presented in this release may not be comparable to similar measures used by other companies. The Company believes the inclusion of this non-GAAP measure helps investors gain a better understanding of the Company’s performance, especially when comparing such results to previous periods, and that it is useful as an additional means for investors to evaluate the Company's operating results when reviewed in conjunction with the Company's GAAP financial statements.
Adjusted EBITDA is calculated as earnings before interest, taxes, depreciation and amortization and adjusted for asset impairment charges (gain), if any. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by total sales. The Company believes that providing adjusted EBITDA and adjusted EBITDA margin is useful to investors to evaluate the Company’s performance and are key metrics to measure profitability and economic productivity.
About Destination XL Group, Inc.
Destination XL Group, Inc. is the leading retailer of Men’s Big + Tall apparel that provides the Big + Tall man the freedom to choose his own style. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores throughout the United States, and an e-commerce website, DXL.COM, and mobile app, which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online products available anywhere for Big + Tall men. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG." For more information, please visit the Company's investor relations website: https://investor.dxl.com.
Forward-Looking Statements
Certain statements and information contained in this press release constitute forward-looking statements under the federal securities laws, including statements regarding our guidance for fiscal 2024, including expected sales and adjusted EBITDA margin, and the expected timing of the release of its financial results for the fourth quarter and fiscal year 2024. 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 Securities and Exchange Commission, including without limitation, its Annual Report on Form 10-K filed on March 21, 2024, its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission that set forth certain risks and uncertainties that may have an impact on future results and the direction of the Company, including risks relating to: changes in consumer spending in response to economic factors; the impact of inflation with rising costs and high interest rates; the impact of ongoing worldwide conflicts on the global economy; potential labor shortages; and the Company’s ability to execute on its marketing, digital, store and collaboration strategies, ability to grow its market share, predict customer tastes and fashion trends, forecast sales growth trends and compete successfully in the United States men’s big and tall apparel market.
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 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.
| CERTAIN COLUMNS IN THE FOLLOWING TABLE MAY NOT FOOT DUE TO ROUNDING | ||||||
| FISCAL 2024 FORECAST | ||||||
| GAAP TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RECONCILIATION | ||||||
| (unaudited) | ||||||
| Projected | ||||||
| Fiscal 2024 | ||||||
| (in millions, except per share data and percentages) | per diluted share | |||||
| Sales | ||||||
| Net income (GAAP basis)(1) | 4.4 - 5.5 | |||||
| Add back: | ||||||
| Provision for income taxes | 2.9 - 3.4 | |||||
| Interest income, net | (2.2 | ) | ||||
| Depreciation and amortization | 14.5 | |||||
| Adjusted EBITDA (non-GAAP basis) | ||||||
| Adjusted EBITDA margin as a percentage of sales (non-GAAP basis) | ||||||
| Weighted average common shares outstanding - diluted(2) | 60.0 | |||||
| (1) Forecasted net income used in this table for purposes of reconciling adjusted EBITDA (a non-GAAP measure) does not include the impact of future events that are outside of our control for which we cannot reasonably predict, such as potential asset impairments. | ||||||
| (2) Forecasted weighted average common shares outstanding does not reflect future share repurchase activity | ||||||
Investor Contact:
investor.relations@dxlg.com
(603) 933-0541
FAQ
What were DXLG's total sales for the 2024 holiday period?
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