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Destination XL reports turnaround in Q4FY17 net income
23
Mar '17
For the three months ended January 28, 2017, omni channel retailer of large size men's clothing, Destination XL Group reported a turnaround in net income at $1.8 million as against net loss of $1.4 million in the prior fiscal's fourth quarter. Net loss for the full fiscal 2017 too narrowed to $2.3 million compared to net loss of $8.4 million in last fiscal.

Total sales in the fourth quarter of fiscal 2017 were slightly down at $122.6 million vis-à-vis $124.0 million, while full fiscal sales were higher at $450.3 million, up from $442.2 million in fiscal 2016.

In the reporting quarter, EBITDA expanded a massive 48.2 per cent to $10.8 million versus $7.3 million in the earlier fiscal's same quarter. Fiscal 2017 EBITDA also surged 35.8 per cent year on year to $31.6 million. (AR)

Fibre2Fashion News Desk – India


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