Destination XL sees sales rise during holiday period

Following a difficult year, Destination XL saw some relief over the holiday sales period.
 
Destination XL sees sales rise during holiday period.

The specialty retailer of big & tall men's apparel announced on Monday total sales of $101.3 million for the 9-week holiday sales period ended December 30, 2017, up 3.5 percent compared to the same period last year. What’s more comparable sales for the period equally increased 3 percent.
 
The omni-channel retailer has had a difficult year, reporting a net loss in both its second and third quarters.
 
President and CEO David Levin sighted a difficult retail apparel environment, unseasonably warm weather and disruption from Hurricanes Irma and Harvey, as factors that contributed to the decline in Q3.  
 
As a result, marketing efforts for 2017 were increased including the launch of an advertising campaign, baptized 'Time to XL'.
 
“I am confident that this campaign signals a new chapter for the DXL brand. It is time to change the conversation around men's XL apparel and celebrate the style of our customer base. It is time for us to embrace our position as the industry champion for the XL community,” said Levin, while reporting third quarter results.
 
Based on the holiday sales results and expectations for the remainder of the fourth quarter, the company expects to achieve the low-end of the range of its previously announced guidance for fiscal 2017, which was revised following the sales shortfall in the third quarter.
 
Total sales are expected to range from $466 million to $470 million, with comparable sales being flat to an increase of 2 percent
 
Final fourth-quarter and fiscal 2017 financial results are expected to be released on March 23, 2018. 

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