Destination XL cuts FY24 sales view to $470M-$490M from $500M

The company said, “As a result of continuing headwinds in men’s apparel and our sales results for the second quarter, we are revising our full year guidance. Based on our current sales trends, we are guiding to sales of $470 million to $490 million, a decrease from our previous guidance of $500 million, and an adjusted EBITDA margin of approximately 6%, a decrease from our previous guidance of 7%, for fiscal 2024. Sales guidance for fiscal 2024 reflects a comparable sales decrease of 6% to 10%. “