NASDAQ: DXLG
DESTINATION XL GROUP, INC.CIK 0000813298 · SIC 5651 · Family Clothing Stores
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Destination XL Group reports Q1 fiscal 2026 earnings, hosts investor webcast
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revenue $103.3M, net income -$5.9M. Net loss widens 206% on tax drag as board reevaluates FullBeauty merger terms
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Destination XL Group issues merger update with FBB Holdings I, Inc.
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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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revenue $435.0M, net income -$35.9M. DXL swings to loss, announces FullBeauty merger as sales decline accelerates
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Destination XL Group reports Q4 and fiscal 2025 results, hosts earnings call
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Latest financial statements
From 10-Q filed Jun 3, 2026 (period ending May 2, 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 May 2, 2026 (fiscal 2026) | Three months ended May 3, 2025 (fiscal 2025) |
|---|---|---|
| Sales | 103,335 | 105,533 |
| Cost of goods sold including occupancy costs | 57,583 | 57,951 |
| Gross profit | 45,752 | 47,582 |
| Expenses: | ||
| Selling, general and administrative | 46,482 | 47,380 |
| Transaction-related costs | 1,241 | 63 |
| Depreciation and amortization | 3,968 | 3,636 |
| Total expenses | 51,691 | 51,079 |
| Operating loss | (5,939) | (3,497) |
| Interest income, net | 62 | 284 |
| Loss before provision (benefit) for income taxes | (5,877) | (3,213) |
| Provision (benefit) for income taxes | 62 | (1,274) |
| Net loss | (5,939) | (1,939) |
| Net loss per share basic and diluted | (0.11) | (0.04) |
| Weighted-average number of common shares outstanding: | ||
| Basic and diluted | 54,916 | 53,601 |
Consolidated Balance Sheets (Unaudited)
(In thousands, except share data)
| Description | May 2, 2026 (Fiscal 2026) | January 31, 2026 (Fiscal 2025) |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 11,098 | 23,807 |
| Short-term investments | 5,078 | 5,029 |
| Accounts receivable | 1,774 | 1,861 |
| Inventories | 81,394 | 73,522 |
| Prepaid expenses and other current assets | 9,503 | 6,747 |
| Total current assets | 108,847 | 110,966 |
| Non-current assets: | ||
| Property and equipment, net of accumulated depreciation and amortization | 58,301 | 60,010 |
| Operating lease right-of-use assets | 197,078 | 194,068 |
| Deferred income taxes, net of valuation allowance | — | — |
| Intangible assets | 1,150 | 1,150 |
| Other assets | 744 | 753 |
| Total assets | 366,120 | 366,947 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 30,064 | 22,941 |
| Accrued expenses and other current liabilities | 20,237 | 26,628 |
| Operating leases, current | 36,273 | 35,881 |
| Total current liabilities | 86,574 | 85,450 |
| Long-term liabilities: | ||
| Operating leases, non-current | 176,810 | 173,346 |
| Other long-term liabilities | 166 | 57 |
| Total long-term liabilities | 176,976 | 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, 81,012,145 and 80,564,948 shares issued at May 2, 2026 and January 31, 2026, respectively | 810 | 806 |
| Additional paid-in capital | 331,439 | 331,028 |
| Treasury stock at cost, 25,908,533 shares at May 2, 2026 and January 31, 2026 | (143,985) | (143,985) |
| Accumulated deficit | (85,694) | (79,755) |
| Total stockholders' equity | 102,570 | 108,094 |
| Total liabilities and stockholders' equity | 366,120 | 366,947 |
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | May 2, 2026 (Fiscal 2026) | May 3, 2025 (Fiscal 2025) |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (5,939) | (1,939) |
| Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | ||
| Amortization and writeoff of deferred debt issuance costs | 19 | 19 |
| Depreciation and amortization | 3,968 | 3,636 |
| Deferred taxes, net of valuation allowance | — | (1,162) |
| Stock compensation expense | 332 | 340 |
| Board of directors' stock compensation | 141 | 116 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 38 | 805 |
| Inventories | (7,872) | (9,976) |
| Prepaid expenses and other current assets | (2,756) | (2,644) |
| Other assets | (10) | 2 |
| Accounts payable | 7,123 | 6,473 |
| Operating leases, net | 846 | (297) |
| Accrued expenses and other liabilities | (4,711) | (7,403) |
| Net cash used for operating activities | (8,821) | (12,030) |
| Cash flows from investing activities: | ||
| Additions to property and equipment, net | (3,830) | (6,740) |
| Purchase of short-term investments | — | (3,003) |
| Maturity of short-term investments | — | 18,001 |
| Net cash provided by (used for) investing activities | (3,830) | 8,258 |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of stock options | — | 2 |
| Tax withholdings paid related to net share settlements | (58) | (49) |
| Net cash used for financing activities | (58) | (47) |
| Net decrease in cash and cash equivalents | (12,709) | (3,819) |
| Cash and cash equivalents: | ||
| Beginning of period | 23,807 | 11,901 |
| End of period | 11,098 | 8,082 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Cash paid (refunded) during the period for income taxes, net | (272) | 30 |
| Cash paid during the period for interest | 73 | 90 |
| Non-cash activity during the period: | ||
| Capital expenditures incurred but not yet paid | 472 | 2,401 |
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 ↗