DXLG Q1 sales $125.4M, net income $7.0M ($0.11 EPS); comp sales +0.6%

DESTINATION XL GROUP, INC.

2023-Q1 EPS reported $0.11 revenue$125,442,000

Total sales $125.4M, down 1.7% YoY; comparable sales up 0.6% (stores +1.5%, direct -1.6%).
Net income $7.0M ($0.11 diluted EPS) vs $13.4M ($0.20) in Q1 2022; adjusted EBITDA $12.6M (10.1% of sales).
Gross margin 48.6%, down 140 bps YoY; expects FY gross margin ~100 bps lower than FY22.
Cash and investments $46.0M, no debt; $93.8M available under credit facility; inventory 11% below pre-pandemic.
Confirms lower end of fiscal 2023 guidance; Q1 started strong but slowed in March/April.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DESTINATION XL GROUP, INC. reported the first quarter of fiscal 2023 results: revenue $125.4 million, EPS $0.11 per diluted share. Guidance reaffirmed.

Period: the first quarter of fiscal 2023
Revenue: $125.4 million
EPS: $0.11 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

quarter of fiscal 2023, and provided an update on sales and earnings guidance for the fiscal year. First Quarter Financial Highlights • Total sales for the first quarter were $125.4 million, down 1.7% from $127.7 million in the first quarter of fiscal 2022. Comparable sales for the first quarter of fiscal 2023 increased 0.6% as compared to the first quarter of

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DESTINATION XL GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-024058

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