Destination XL Group swings to Q4 profit

Canton, Mass. -- Destination XL Group Inc. grew sales and margin and swung to a profit in its fourth-quarter, reporting net income of $1.6 million, after a $55.1 million loss in the same period a year earlier. It also announced plans to open 40 DXL stores in 2015.



The retailer of men’s big and tall apparel reported revenue of $119.6 million in the period. Sales per square foot in DXL stores rose 10% to $165. Total same-store sales increased 8.9%.



"We are extremely pleased with our fourth quarter results, as our DXL stores delivered for the seventh consecutive quarter a double-digit comparable sales increase," said president and CEO David Levin. "The comparable sales increase in DXL stores this quarter was +16.4%, which is quite impressive, given that it was on top of a very strong comparable sales increase the prior year.



For the year, the company reported that its loss narrowed to $12.3 million. Revenue was reported as $414 million.