DESTINATION XL GROUP, INC. (NASDAQ:DXLG) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On March 20, 2017, Destination XL Group, Inc. (the Company)
issued a press release announcing the Companys operating results
for the fourth quarter and fiscal year 2016.A copy of this press
release is attached hereto as Exhibit 99.1.
An audio webcast to discuss the Companys operating results for
the fourth quarter and fiscal year 2016 and 2017 outlook will be
held today, March 20, 2017, at 8:00 a.m. EDT.Interested parties
can access the webcast on the Company’s website at
www.destinationxl.com under the Investor Relations section.
Item 8.01 Other Information.
On March 17, 2017, the Companys Board of Directors approved a
stock repurchase program, to which the Company may repurchase up
to $12.0 million of its common stock through open market and
privately negotiated transactions.
The timing and the amount of any repurchases of common stock will
be determined based on the Companys evaluation of market
conditions and other factors. The stock repurchase program is
expected to commence in the first quarter of fiscal 2017 and will
expire on February 3, 2018.The stock repurchase program may be
suspended, terminated or modified at any time for any reason. The
Company expects to finance the repurchases from operating funds
and/or periodic borrowings on its credit facility.Any repurchased
common stock will be held as treasury stock.
Item 9.01 Financial Statements and Exhibits.
Press release issued by Destination XL Group, Inc. on
About DESTINATION XL GROUP, INC. (NASDAQ:DXLG)
Destination XL Group, Inc. is a specialty retailer of men’s apparel with retail and direct operations in the United States and London, England. The Company operates through the Big & Tall Men’s Apparel segment. The Company operates under the trade names of Destination XL, DXL, Casual Male XL, Casual Male XL outlets, DXL outlets, Rochester Clothing, ShoesXL and LivingXL. The Company operates approximately 170 Destination XL stores, 125 Casual Male XL retail stores, 40 Casual Male XL outlet stores, nine DXL outlet stores and five Rochester Clothing stores. Its direct business includes its DestinationXL.com and bigandtall.com e-commerce sites, which support its stores, brands and product extensions. Through its multiple brands, which include both branded apparel and private-label, the Company offers a range of merchandise. The Company carries various designer brands, including Cole Haan, Allen Edmonds, Timberland, Calvin Klein, Lacoste, Donald J. Pliner and Bruno Magli. DESTINATION XL GROUP, INC. (NASDAQ:DXLG) Recent Trading Information
DESTINATION XL GROUP, INC. (NASDAQ:DXLG) closed its last trading session down -0.35 at 2.40 with 292,313 shares trading hands.