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Casual Male plans to maximize DestinationXL biz
19 Mar '12
4 min read
• Effective tax rate for fiscal 2012 of approximately 41% compared to approximately 10% effective tax rate in fiscal 2011 due to the valuation allowance reversal.
• Diluted earnings per share, before discontinued operations, of $0.22-$0.27, which is comparable to fiscal 2011 diluted earnings per share of $0.19 after adjusting for the trademark impairment and normalizing the effective tax rate at 41%.
• Free cash flow of approximately $10 million, which is based on cash flow from operating activities (GAAP) of approximately $45 million and capital expenditures of approximately $35 million.
David Levin, President and CEO stated, "From a strategic direction, 2011 was a critical year in proving the DXL concept as being the optimal vehicle to service the Company's marketplace. For the next several years, the Company's focus will be on completing the transition by accelerating DXL store openings, closing Rochester and Casual MaleXL stores and maximizing its business on DestinationXL.com, all of which we believe will result in significantly enhanced sales, profitability and cash flow."
Click here to read more details:
• Diluted earnings per share, before discontinued operations, of $0.22-$0.27, which is comparable to fiscal 2011 diluted earnings per share of $0.19 after adjusting for the trademark impairment and normalizing the effective tax rate at 41%.
• Free cash flow of approximately $10 million, which is based on cash flow from operating activities (GAAP) of approximately $45 million and capital expenditures of approximately $35 million.
David Levin, President and CEO stated, "From a strategic direction, 2011 was a critical year in proving the DXL concept as being the optimal vehicle to service the Company's marketplace. For the next several years, the Company's focus will be on completing the transition by accelerating DXL store openings, closing Rochester and Casual MaleXL stores and maximizing its business on DestinationXL.com, all of which we believe will result in significantly enhanced sales, profitability and cash flow."
Click here to read more details:
Casual Male Retail Group Inc
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