earnings
confidence high
sentiment positive
materiality 0.75
Destination XL Q1 net income $13.4M, EPS $0.20; comp sales up 19.5%
DESTINATION XL GROUP, INC.
2022-Q1 EPS reported
$0.20
revenue$127,655,000
- Total sales $127.7M, up 14.5% YoY; comparable sales increased 19.5%.
- Gross margin improved to 50.0% from 45.6% on higher merch margins and occupancy leverage.
- Adjusted EBITDA $17.3M vs $13.7M a year ago; no debt outstanding, cash $7.5M.
- Reiterates FY2022 sales guidance of $510M-$530M; expects gross margin to decline ~100 bps.
- Repurchased ~1.0M shares for $4.8M in Q1; free cash flow negative $2.7M due to inventory build.