Destination XL reports Q3 adjusted EPS 7c vs 14c last year

Reports Q3 revenue $119.118M vs $129.671M last year. “Despite this challenging quarter, we remain disciplined and committed to the strategy and initiatives of which we have spoken previously. Since we repositioned DXL in fiscal 2019, we have grown comparable sales by more than 25% and more than doubled our Adjusted EBITDA margin rate. This trajectory supports our strong belief in the longer-term opportunity for DXL in the men’s big & tall apparel category. This belief in our future is emboldened by our strong financial position. We have no debt and $60 million of cash, and over $150 million of stockholders’ equity, which provides a greater opportunity to invest and drive our strategic initiatives, which include opening productive new stores, deploying a new web platform, launching a brand awareness campaign, and pursuing greater exclusive merchandise collaborations and alliances,” said Harvey Kanter, President, and Chief Executive Officer.