Destination XL Group Inc., the largest omni-channel specialty retailer of big and tall men’s apparel, has reported financial results for the fourth quarter of the fiscal year 2016. The company generated sales of US $ 122.6 million, down by 1 per cent from US $ 124 million in the corresponding period year 2015.
In the reporting period, net income stood at US $ 1.8 million which was US $ 1.4 million in the fiscal 2015. Gross profit of the company amounted to US $ 55 million compared to US $ 56.8 million. Operating income totaled US $ 2.5 million as against US $ 0.5 million in the comparable period in 2015.
In the full year period 2016, total sales increased 1.8 per cent to US $ 450.3 million compared to US $ 442.2 million in fiscal 2015. Net loss in the mentioned period was worth US $ 2.3 million compared to a net loss of US $ 8.4 million in the same period in 2015. Gross profit amounted to US $ 204.8 million, which was US $ 203.8 million in 2015. Operating income faced a loss to US $ 0.9 million as against US $ 5 million.
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“We enter the new fiscal year keenly focused on continuing to grow our customer base by leveraging our fully developed fleet of DXL stores and elevating our digital distribution channel. Our top priority in 2017 is customer retention and acquisition. Fiscal 2016 marked a milestone year for our company with the opening of our 200th DXL store. We are also thrilled to have entered the Canadian market with our first company-operated DXL store in the Toronto area,” comments David Levin, President and CEO, Destination XL.
