Home / Knowledge / News / Apparel/Garments / Q3 FY15 sales rise 6.4% at Destination XL
Q3 FY15 sales rise 6.4% at Destination XL
24
Nov '15
Destination XL, a US based clothing retailer for tall and big men, recorded a rise of 6.4 per cent in its total sales for the third quarter of fiscal 2015 ($99.6 million) as compared to the total sales recorded in the third quarter of fiscal 2014 ($93.6 million) because of an increase in the comparable sales for Destination XL stores, according to fiscal 2015 third quarter results posted by the retailer on its website.

The 119 Destination XL retail stores delivered a strong comparable sales increase of 9.2 per cent, in addition to 12.8 per cent from the third quarter last year. Gross margin for this period was 45 per cent as compared to the gross margin of 43.3 per cent for the same period last fiscal.

The retailer recorded Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) of $2.5 million as compared to $0.5 million for the same period last year from its continuing operations. Net loss for the third quarter of fiscal 2014 was $6.3 million, and the net loss for the third quarter of fiscal 2015 was $5.5 million.

Commenting on the results, David Levin, president and CEO of Destination XL said, “Our third quarter financial results prove, once again, that our transition strategy is working. Our increasing brand awareness enabled us to not only drive sales performance, but also allowed us to further improve gross margins.”

“Our consistent performance for the first three quarters is right in line with our expectations. However, as we move into the fourth quarter of fiscal 2015, we are beginning to see slower than expected demand from our seasonal categories because of the unseasonably warm weather that has affected much of the country. To reflect this trend, we are narrowing our fiscal 2015 sales and EBITDA guidance,” he informed.

The retailer now expects its total sales in fiscal 2015 the range of $438 million to $440 million, a change from what was previously in the range of $438 million to $443 million. It also expects its EBITDA to decrease for fiscal 2015 in the range of $21 million to $22 million, compared to previous guidance of $21 million to $23 million. (MCJ)

Fibre2Fashion News Desk — India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Smita Murarka
Amanté

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

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

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...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search