Destination XL Announced Total Sales Were $102.4M Compared To $111.7M For The 9-week Holiday Sales Period Ended December 31, 2022
Portfolio Pulse from Benzinga Newsdesk
Destination XL (DXLG) reported a decrease in total sales to $102.4M during the 9-week holiday sales period ended December 31, 2022, compared to $111.7M in the previous year. The company experienced a comparable sales decline of 8.7%, with a 7.6% decrease in store sales and a 10.9% decrease in direct business sales.
January 08, 2024 | 1:28 pm
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Destination XL reported lower holiday sales and a decline in comparable sales, indicating potential challenges in both in-store and direct business segments.
The reported decrease in sales during a critical holiday period suggests that Destination XL may face revenue challenges, which could negatively impact investor sentiment and the stock price in the short term. The significant drop in both in-store and direct sales indicates a broader issue that could affect future earnings as well.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100