Home / Knowledge / News / Apparel/Garments / Q3 FY15 sales rise 6.4% at Destination XL
Q3 FY15 sales rise 6.4% at Destination XL
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

(L-R) Mr Shao Bojin, Chairman of Jihua Group and Mr Rohit Aggarwal, President of Huntsman Textile

Textiles | On 28th Oct 2016

Huntsman gets into strategic partnership with Jihua Group

Huntsman Textile Effects, the leading provider of high quality dyes...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search