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Feb 01, 2020
DXL Q4 2019 Earnings Report
DXL Group reported an increase in fourth-quarter comparable sales and earnings per share.
Key Takeaways
Destination XL Group, Inc. reported financial results for the fourth quarter and fiscal year 2019. Total sales for the fourth quarter were $131.2 million, an increase of $0.1 million from the prior year. Net income for the quarter was $2.4 million, compared to a net loss of $(7.2) million for the same quarter last year.
Total sales for the fourth quarter increased by $0.1 million to $131.2 million.
Comparable sales for the fourth quarter increased by 1.1%.
Net income for the quarter was $2.4 million, compared to a net loss of $(7.2) million in the prior-year quarter.
On a non-GAAP basis, adjusted net income for the quarter was $2.6 million, compared to an adjusted net loss of $(0.6) million in the prior-year quarter.
DXL
DXL
Forward Guidance
Due to the rapidly changing environment with COVID-19, the company is not providing specific sales, earnings, or cash flow guidance. They are evaluating potential business scenarios and are currently taking actions which include reducing operating expenses, reducing capital expenditures, and reducing inventory purchases while remaining focused on liquidity preservation.
Positive Outlook
- Reducing operating expenses
- Reducing capital expenditures
- Reducing inventory purchases
- Remaining focused on liquidity preservation
- Evaluating potential business scenarios
Challenges Ahead
- Rapidly changing environment with COVID-19
- Not providing specific sales guidance
- Not providing specific earnings guidance
- Not providing specific cash flow guidance
- Uncertain impact on business from COVID-19