Home / Knowledge / News / Apparel/Garments / Destination XL Q1'FY14 sales lift 3% to $96.8mn
Destination XL Q1'FY14 sales lift 3% to $96.8mn
29
May '14
Destination XL Group, Inc., the largest multi-channel specialty retailer of big & tall men's apparel and accessories, reported operating results for the first quarter of fiscal 2014.
 
First-Quarter Fiscal 2014 Highlights
Total sales increased 3.0% to $96.8 million compared with $94.0 million in the first quarter of fiscal 2013, of which $36.2 million were from DXL stores compared with $17.0 million in the first quarter of fiscal 2013. Total comparable sales increased 3.4%.
 
52 DXL stores, opened at least 13 months, had a 12.8% comparable sales increase. DXL brand awareness increased from 13% in Spring 2013 to 30% in Spring 2014. Company reaffirms guidance of $(0.12) to $(0.16) per diluted share, on a non-GAAP basis, for fiscal 2014.
 
The Company opened 7 new DXL stores and closed 10 Casual Male XL stores, bringing the total DXL store count to 106 as of May 3, 2014.
 
First-Quarter Fiscal 2014 Results
Sales
For the first quarter of fiscal 2014, total sales were $96.8 million compared with $94.0 million in the first quarter of fiscal 2013.  The increase of $2.8 million in total sales was primarily due to an increase in comparable sales of $2.5 million, or 3.4%.  Through the end of fiscal 2013, the Company's definition of comparable sales included DXL stores compared with the sales of predecessor Casual Male XL stores.  
 
This was done to provide a metric as to how the Company's DXL stores were performing in comparison to its Casual Male XL legacy stores.  Beginning in the first quarter of fiscal 2014, the Company returned to a more traditional calculation of comparable sales and only stores open at least 13 months are included in the calculation of comparable store sales. 
 
Gross Profit Margin
For the first quarter of fiscal 2014, gross margin, inclusive of occupancy costs, was 45.4% as compared to a gross margin rate of 47.2% for the first quarter of fiscal 2013.  The decrease of 180 basis points for the first quarter of fiscal 2014 was the result of an increase in occupancy costs of 20 basis points and a decrease in merchandise margins of 160 basis points.  The decrease in merchandise margin for the first quarter of fiscal 2014 was higher due to increased in-store promotions, customer acquisition initiatives, and increased penetration of clearance merchandise. 
 
Click here to view full results.
 

Destination XL Group


Must ReadView All

Courtesy: Markus Spiske from Pexels

Textiles | On 19th Apr 2018

Intra-state e-way bills in 6 more states from April 20

E-way bill for intra-state movement of goods would be implemented in...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

Indian inter-ministerial group to study e-commerce issues

Apparel/Garments | On 19th Apr 2018

Indian inter-ministerial group to study e-commerce issues

The Indian Government has set up an inter-ministerial group to study...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search