Destination XL reports record FY21 sales $505M, net income $56.7M, debt-free; authorizes $15M buyback

DESTINATION XL GROUP, INC.

2021-FY EPS reported $0.83 revenue$505,021,000

FY21 total sales $505.0M +58.3% YoY; net income $56.7M ($0.83 diluted EPS) vs net loss $(64.5M) in FY20.
Adjusted EBITDA $76.9M vs $(24.2M) in FY20; free cash flow $70.3M vs $(5.5M).
No outstanding debt at Jan 29, 2022; cash $15.5M; excess credit availability $68.9M.
FY22 guidance: sales $510-530M, EBITDA margin >10%. Amazon wholesale partnership ended.
Board approved $15M stock repurchase program expiring March 2023; also $1.2M discretionary cash bonus to executives.

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