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DXLG Destination XL

Destination XL Group, Inc. is a specialty retailer of men's big and tall apparel, with operations throughout the United States, Canada and London, England. The company is headquartered in Canton, Massachusetts, and its common stock is listed on the NASDAQ Global Market under the symbol "DXLG." DXLG operates both retail stores and ecommerce businesses through its five trade names: DXL, Rochester Clothing, Casual Male XL, Shoes XL, and Living XL. What is now Destination XL Group was founded in 1976 by Calvin Margolis and Stanley Berger as Designs, Inc.[citation needed]

Company profile

Ticker
DXLG
Exchange
CEO
Harvey S. Kanter
Employees
Incorporated
Location
Fiscal year end
Former names
CASUAL MALE RETAIL GROUP INC, DESIGNS INC
SEC CIK
IRS number
42623104

DXLG stock data

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Calendar

1 Jun 21
28 Jul 21
29 Jan 22
Quarter (USD)
May 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Feb 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 5.84M 5.84M 5.84M 5.84M 5.84M 5.84M
Cash burn (monthly) 4.38M 1.69M (positive/no burn) 1.07M (positive/no burn) (positive/no burn)
Cash used (since last report) 12.77M 4.93M n/a 3.12M n/a n/a
Cash remaining -6.92M 916.9K n/a 2.72M n/a n/a
Runway (months of cash) -1.6 0.5 n/a 2.5 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 May 21 Mesdag Willem Common Stock, $0.01 par value Other Aquire J Yes No 1.55 20,161 31.25K 8,785,800
3 May 21 Ivy Ross Common Stock, $0.01 par value Other Aquire J No No 1.55 2,903 4.5K 225,589
3 May 21 Lionel F. Conacher Common Stock, $0.01 par value Other Aquire J No No 1.55 12,096 18.75K 338,017
3 May 21 Mitchell Presser Common Stock, $0.01 par value Other Aquire J No No 1.55 20,161 31.25K 689,783
3 May 21 Jack Boyle Common Stock, $0.01 par value Other Aquire J No No 1.55 15,120 23.44K 445,654

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 38 EXIT
Opened positions 0 9 EXIT
Closed positions 38 7 +442.9%
Increased positions 0 4 EXIT
Reduced positions 0 8 EXIT
13F shares
Current Prev Q Change
Total value 0 4.88M EXIT
Total shares 0 18.87M EXIT
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Prescott Group Capital Management, L.L.C. 0 $0 EXIT
Largest transactions
Shares Bought/sold Change
Red Mountain Capital Partners 0 -8.43M EXIT
Renaissance Technologies 0 -2.78M EXIT
RY Royal Bank Of Canada 0 -1.87M EXIT
Prescott Group Capital Management, L.L.C. 0 -1.35M EXIT
Vanguard 0 -1.24M EXIT
BLK Blackrock 0 -906.31K EXIT
Relyea Zuckerberg Hanson 0 -639.7K EXIT
Geode Capital Management 0 -250.76K EXIT
Bridgeway Capital Management 0 -240.42K EXIT
Creative Planning 0 -131.13K EXIT

Financial report summary

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Management Discussion
  • On March 11, 2020, the World Health Organization declared COVID-19 as a global pandemic. While the pandemic had an adverse effect on our business, financial condition and result of operations in fiscal 2020, we are hopeful that the worst is behind us and we are on the road to recovery.  Substantial uncertainty remains regarding the duration of the pandemic, the potential impact of new variants, and the long-term effect of the pandemic on the global economy and its supply chain, unemployment, and overall consumer demand and spending.  
  • Our financial results for the first quarter exceeded our expectations and we are very pleased by the sales trends we are seeing.  We expected that sales would return gradually as vaccine distributions became more widely available and warm weather arrived.  We saw a sharp acceleration mid-quarter, resulting in a first quarter comparable sales growth of 3.7% as compared to the first quarter of fiscal 2019, with our direct business increasing 40.7% and our stores down (6.7%).  Regionally, our strongest performance was from our stores located in the southeast, south central and Midwest, as compared to our east and west coast stores, which were slower to rebound.
  • During fiscal 2020, we took many steps to reduce our cost structure and improve our operating leverage to position us for a greater recovery as we emerged from the pandemic.  Those steps included the restructuring of our lease portfolio.  Working with our landlord community, we have restructured 115 store leases, since the beginning of 2020, which we expect will result in savings of over $16.1 million over the respective lease terms, including $6.0 million of expected savings in fiscal 2021.  We also took the difficult step of reducing our corporate workforce by approximately 29% and our field organization by approximately 54%.  We also eliminated professional and service contracts where possible.  We are seeing the results of these efforts in our SG&A costs for the first quarter of fiscal 2021, where we reduced SG&A costs by $7.5 million, as compared to the first quarter of fiscal 2019.  
Content analysis
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Positive
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Uncertain
Constraining
Legalese
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Readability
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