Destination XL Group (NASDAQ:DXLG) reports 4Q16 earnings ; Tops Estimate

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Destination XL Group (NASDAQ:DXLG) reports 4Q16 earnings ; Tops Estimate

Destination XL Group (NASDAQ:DXLG) reported net income for the fourth quarter of $ 1.78 million or $ 0.04 per share, compared to loss $ 1.38 million or $ 0.03 per share for the year-ago quarter.

The Canton, Massachusetts based company recorded fourth quarter Non-GAAP adjusted income of $ 1.09 million or $ 0.02 per share.

The Sales for fourth quarter slipped to $ 122.65 million from $ 124.04 million in the same quarter last year.

Analysts polled by Thomson Reuters expected DXLG to report income of $ 0.01 per share on revenue of $ 125.77 million for the fourth quarter.

DXLG, President and CEO David Levin, said: Despite the 2016 retail environment being one of the most challenging in recent memory, we were very pleased to deliver strong growth in EBITDA and free cash flow.

For the full year 2017, the company expects to post Non-GAAP adjusted loss in the range of ($0.06) to ($0.14) per share.

DXLG: 2.85 +0.20 (7.55%)

About : Destination XL Group, Inc., together with its subsidiaries, operates as a specialty retailer of big and tall men’s apparel in the United States and England. Its stores offer sportswear and dresswear; shoes; accessories, such as belts, ties, socks; fashion-neutral items, including jeans, casual slacks, tee-shirts, polo shirts, dress shirts, and suit separates; casual clothing; lifestyle products comprising chairs, outdoor accessories, travel accessories, bed and bath products, and fitness equipment. The company operates its stores under the Destination XL, Casual Male XL, Casual Male XL Outlets, DXL Outlets, Rochester Clothing, ShoesXL, and LivingXL names. It also provides sportswear and loungewear, sportcoats, dress shirts, neckwear, tailor-related separates, blazers, dress slacks, vintage-screen T-shirts and wovens, camp shirts, printed woven shirts, and relaxed island-inspired pants under various private labels. The company operates 166 Destination XL stores, 125 Casual Male XL retail stores, 40 Casual Male XL outlet stores, 9 DXL outlet stores, and 5 Rochester Clothing stores. It also offers its products through DestinationXL.com and bigandtall.com e-commerce sites. The company was formerly known as Casual Male Retail Group, Inc. and changed its name to Destination XL Group, Inc. in February 2013. Destination XL Group, Inc. was founded in 1976 and is headquartered in Canton, Massachusetts.