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Destination XL reports turnaround in Q4FY17 net income
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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