Destination XL Q2 sales $144.6M (+4.4% YoY); raises FY22 sales guidance to $520M-$540M

DESTINATION XL GROUP, INC.

2022-Q2 EPS reported $1.04 revenue$272,289,000

Net income $56.9M ($0.85 diluted EPS) incl. $35.5M tax valuation allowance release ($0.53/share); prior year $24.5M ($0.36).
Comparable sales up 6.1% (stores +3.6%, direct +12.7%); total sales $144.6M, up 4.4% YoY.
Adjusted EBITDA $25.9M (17.9% margin) vs $29.8M (21.5%) in prior year due to investments in marketing and talent.
Raised FY22 sales guidance to $520M-$540M from $510M-$530M; no debt, cash $22.2M, share buyback of 2.9M shares.

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