Destination XL posts marginal growth in holiday sales

Destination XL Group, Inc. has announced that total sales for the nine-week holiday sales period ended January 4, 2020 increased 0.4 percent to 103.1 million dollars, while comparable sales in omni-channel retail business for the same period also increased 0.4 percent. Included in total sales, the company added, are sales from its wholesale business of 3.4 million dollars for the nine-week holiday sales period compared to 0.9 million dollars for the same period last year, while sales in the direct business comprised 27.4 percent of retail sales compared to 24.8 percent of retail sales in the prior year holiday period.

Commenting on the company’s holiday performance, Harvey Kanter, the company’s President and CEO, said: “Although our comparable sales performance was not to the level we expected, we delivered a net positive comparable sales result for the holiday season. Management’s efforts and investment drove greater inflection over our third quarter trends in the direct business and meaningful growth in wholesale. However, our store business struggled as we continued to observe a downtrend in store traffic that resulted in a low single-digit decrease in store comparable sales.”

Based on the holiday sales results and expectations for the remainder of the fourth quarter, the company expects comparable sales in our omni-channel retail business for the full year to be flat and free cash flow for the full year to be approximately break-even.

Picture:Facebook/DXL Men's Apparel

 

Related news

MORE NEWS

 

LATEST JOBS

 

MOST READ