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Destination XL Group, Inc. (NASDAQ:DXLG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Destination XL Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 60% to $0.08 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 3.06% to $114.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Destination XL Group, Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $0.01. It beat the average revenue estimate of $100 million.
Quoting Management: “Our fourth quarter results were consistent with those that we announced in our preliminary fourth-quarter news release on February 27,” said President and CEO David Levin. “We are at a critical juncture in our transformation to Destination XL. This year we are accelerating the opening of DXL stores and the closing of Casual Male XL locations in order to begin realizing the benefit of this strategy much earlier than we initially anticipated. We expect to have between 105 and 112 DXL stores open by the end of the fiscal year. While our SG&A costs will increase by approximately $15.0 to $17.1 million in 2013 over 2012 due to the accelerated store openings and closings, enhancements to certain aspects of our infrastructure and the implementation of our new marketing campaign, we expect these investments to result in significant financial improvement beginning in 2014.”
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