From GlobeNewswire: 2025-05-29 07:00:00

Destination XL Group, Inc. reported a total sales decline to $105.5 million in the first quarter of fiscal 2025, with a net loss of $(0.04) per diluted share. Adjusted EBITDA was $0.1 million, down from $8.2 million in the first quarter of fiscal 2024. Cash and investments were $29.1 million, reflecting shares repurchased and a seasonal inventory build.

CEO Harvey Kanter mentioned managing through an economic downcycle and customer shifts towards value-oriented brands. Initiatives like a price match guarantee and Fit Exchange program are driving brand affinity. Sales trends showed improvement month over month, with comparable sales down 9.4% overall in the first quarter.

Gross margin for the first quarter was 45.1%, down from 48.2% in the first quarter of fiscal 2024. SG&A expenses were 45.0% of sales, up from 41.1% in the first quarter of fiscal 2024. Adjusted EBITDA, a non-GAAP measure, was $0.1 million for the first quarter of fiscal 2025.

Cash flow from operations was $(12.0) million for the first quarter of fiscal 2025, with free cash flow of $(18.8) million. Inventory decreased to $85.5 million, with clearance inventory at 9.5%. The company opened two new stores and plans to open six more in fiscal 2025.

FiTMAP sizing technology, exclusive to Big + Tall men until 2030, has scanned over 20,000 customers in 52 DXL retail locations. Direct sales for the first quarter of fiscal 2025 were $29.1 million, reflecting 27.5% of sales. The company will hold a conference call on May 29, 2025, to discuss its financial results.

Adjusted EBITDA for the first quarter was $0.1 million, with an adjusted EBITDA margin of 0.1% of sales. Free cash flow for the first quarter was $(18.8) million. The company’s common stock is listed on the Nasdaq Global Market under the symbol “DXLG.”



Read more at GlobeNewswire:: Destination XL Group, Inc. Reports First Quarter Financial