Destination XL reports Q4 EPS (2c) vs 8c last year

Reports Q4 revenue $119.203M vs $137.142M last year. “Our sales results reflect a difficult year for the men’s apparel sector where DXL has been challenged by lower traffic levels to our stores and lower conversion online. Men’s retail remains volatile, and we believe the Big + Tall consumer cut back on spending for himself in fiscal 2024. Despite this challenge, we maintained a strong operating regimen with our merchandise margin and controlled operating expenses to drive positive net earnings, positive free cash flow, and an adjusted EBITDA margin of 4.3%. Our balance sheet is solid with a healthy inventory position, no debt, and $48.4 million of cash and investments,” said Harvey Kanter, President and Chief Executive Officer.