Destination XL Group, Inc.

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Portnoy Law Firm
Lesley F. Portnoy, Esq.,
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067

On May 30, 2024, Destination XL issued a press release “report[ing] operating results for the first quarter of fiscal 2024, and updated sales and earnings guidance for the fiscal year.” Among other items, Destination XL reported revenue of $115.5 million, representing a 7.9% year-over-year decline and missing consensus estimates by $2.4 million. Destination XL also stated that “[b]ased on our current sales trends, we are guiding to the low-end of our previous sales guidance, which is $500 million vs. $515.05M consensus (prior $500.0 – $530.0 million), with a mid-single digit decrease in comparable sales.”

On this news, Destination XL’s stock price fell $0.27 per share, or 7.56%, to close at $3.30 per share on May 30, 2024.