Destination XL Q3 Net Income Declines, Comps. Down 6.7%; Revises FY Guidance

(RTTNews) - Destination XL Group, Inc. (DXLG) reported third quarter net income of $4.0 million, or $0.06 per share, compared to $10.5 million, or $0.16 per share, prior year. Adjusted net income was $4.2 million, or $0.07 per share, compared to $9.2 million, or $0.14 per share.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.07, for the quarter. Analysts' estimates typically exclude special items.

Total sales for the third quarter were $119.2 million, down 8.1% from $129.7 million in the third quarter of fiscal 2022. Comparable sales for the third quarter decreased 6.7%. Analysts on average had estimated $120.75 million in revenue.

For fiscal 2023, the company expects sales to be approximately $520.0 million to $530.0 million, net income to be approximately $0.39 to $0.46 per share. Adjusted net income per share is projected to be approximately $0.45 to $0.52.

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