NASDAQ: DXLG
DESTINATION XL GROUP, INC.CIK 0000813298 · SIC 5651 · Family Clothing Stores
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revenue $103.3M, net income -$5.9M. Net loss widens 206%
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Destination XL Group issues merger update with FBB Holdings I, Inc.
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Destination XL Group reports Q1 fiscal 2026 earnings, hosts investor webcast
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Destination XL Board issues recommendation on unsolicited takeover bid from Zodiac Partners II
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Destination XL discloses unsolicited tender offer from Zodiac Partners II under review
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Destination XL CEO Harvey Kanter to retire August 11, 2026; employment agreement not renewed
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Destination XL Group reports Q4 and fiscal 2025 results, hosts earnings call
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revenue $435.0M, net income -$35.9M. DXL swings to loss, announces FullBeauty merger as sales decline accelerates
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Latest financial statements
From 10-Q filed Sep 9, 2026 (period ending Aug 1, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)
| Description | Three months ended August 1, 2026 (fiscal 2026) | Three months ended August 2, 2025 (fiscal 2025) | Six months ended August 1, 2026 (fiscal 2026) | Six months ended August 2, 2025 (fiscal 2025) |
|---|---|---|---|---|
| Sales | 111,556 | 115,505 | 214,891 | 221,038 |
| Cost of goods sold including occupancy costs | 58,146 | 63,322 | 115,729 | 121,273 |
| Gross profit | 53,410 | 52,183 | 99,162 | 99,765 |
| Expenses: | ||||
| Selling, general and administrative | 45,732 | 47,506 | 92,214 | 94,886 |
| Transaction-related costs | 1,766 | 98 | 3,007 | 161 |
| Depreciation and amortization | 3,974 | 3,876 | 7,942 | 7,512 |
| Total expenses | 51,472 | 51,480 | 103,163 | 102,559 |
| Operating income (loss) | 1,938 | 703 | (4,001) | (2,794) |
| Interest income, net | 78 | 200 | 140 | 484 |
| Income (loss) before provision (benefit) for income taxes | 2,016 | 903 | (3,861) | (2,310) |
| Provision (benefit) for income taxes | (33) | 1,168 | 29 | (106) |
| Net income (loss) | 2,049 | (265) | (3,890) | (2,204) |
| Net income (loss) per share basic | 0.04 | (0.00) | (0.07) | (0.04) |
| Net income (loss) per share diluted | 0.04 | (0.00) | (0.07) | (0.04) |
| Weighted-average number of common shares outstanding: | ||||
| Basic | 55,271 | 53,816 | 55,094 | 53,708 |
| Diluted | 56,296 | 53,816 | 55,094 | 53,708 |
Consolidated Balance Sheets (Unaudited)
(In thousands, except share data)
| Description | August 1, 2026 (Fiscal 2026) | January 31, 2026 (Fiscal 2025) |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 17,022 | 23,807 |
| Short-term investments | 3,087 | 5,029 |
| Accounts receivable | 1,593 | 1,861 |
| Inventories | 75,509 | 73,522 |
| Prepaid expenses and other current assets | 8,728 | 6,747 |
| Total current assets | 105,939 | 110,966 |
| Non-current assets: | ||
| Property and equipment, net of accumulated depreciation and amortization | 56,611 | 60,010 |
| Operating lease right-of-use assets | 191,368 | 194,068 |
| Deferred income taxes, net of valuation allowance | — | — |
| Intangible assets | 1,150 | 1,150 |
| Other assets | 716 | 753 |
| Total assets | 355,784 | 366,947 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 22,915 | 22,941 |
| Accrued expenses and other current liabilities | 21,371 | 26,628 |
| Operating leases, current | 36,663 | 35,881 |
| Total current liabilities | 80,949 | 85,450 |
| Long-term liabilities: | ||
| Operating leases, non-current | 170,140 | 173,346 |
| Other long-term liabilities | 160 | 57 |
| Total long-term liabilities | 170,300 | 173,403 |
| Commitments and contingencies | ||
| Stockholders' equity: | ||
| Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued | — | — |
| Common stock, $0.01 par value, 125,000,000 shares authorized, 81,181,625 and 80,564,948 shares issued at August 1, 2026 and January 31, 2026, respectively | 812 | 806 |
| Additional paid-in capital | 331,353 | 331,028 |
| Treasury stock at cost, 25,908,533 shares at August 1, 2026 and January 31, 2026 | (143,985) | (143,985) |
| Accumulated deficit | (83,645) | (79,755) |
| Total stockholders' equity | 104,535 | 108,094 |
| Total liabilities and stockholders' equity | 355,784 | 366,947 |
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended August 1, 2026 (fiscal 2026) | Six months ended August 2, 2025 (fiscal 2025) |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (3,890) | (2,204) |
| Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | ||
| Amortization and writeoff of deferred debt issuance costs | 37 | 39 |
| Depreciation and amortization | 7,942 | 7,512 |
| Deferred taxes, net of valuation allowance | — | (153) |
| Stock compensation expense, net of forfeitures | 106 | 684 |
| Board of directors' stock compensation | 283 | 256 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 223 | 917 |
| Inventories | (1,987) | (3,405) |
| Prepaid expenses and other current assets | (1,993) | (2,653) |
| Other assets | — | (24) |
| Accounts payable | (26) | 79 |
| Operating leases, net | 276 | 591 |
| Accrued expenses and other liabilities | (3,743) | (3,753) |
| Net cash used for operating activities | (2,772) | (2,114) |
| Cash flows from investing activities: | ||
| Additions to property and equipment, net | (5,954) | (12,099) |
| Purchase of short-term investments | — | (5,005) |
| Maturity of short-term investments | 1,999 | 21,502 |
| Net cash provided by (used for) investing activities | (3,955) | 4,398 |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of stock options | — | 2 |
| Excise taxes paid on repurchase of common stock | — | (123) |
| Tax withholdings paid related to net share settlements | (58) | (49) |
| Net cash used for financing activities | (58) | (170) |
| Net increase (decrease) in cash and cash equivalents | (6,785) | 2,114 |
| Cash and cash equivalents: | ||
| Beginning of period | 23,807 | 11,901 |
| End of period | 17,022 | 14,015 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Cash paid (refunded) during the period for income taxes, net | (411) | 147 |
| Cash paid during the period for interest | 147 | 181 |
| Non-cash activity during the period: | ||
| Capital expenditures incurred but not yet paid | 635 | 2,018 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share data); (In thousands, except share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗