Destination XL Group Cuts FY24 Sales Sales Outlook From $500M To New Range Of $470M - $490M, Est $498.80M
Portfolio Pulse from Benzinga Newsdesk
Destination XL Group has revised its fiscal year 2024 sales outlook from $500 million to a new range of $470 million to $490 million, reflecting a comparable sales decrease of 6% to 10%.
August 29, 2024 | 11:06 am
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NEGATIVE IMPACT
Destination XL Group has reduced its FY24 sales forecast to $470M-$490M, down from $500M, indicating a 6%-10% drop in comparable sales. This revision may negatively impact investor sentiment and the stock price in the short term.
The reduction in sales outlook suggests weaker than expected performance, which is likely to lead to negative investor sentiment and potential short-term stock price decline. The significant decrease in comparable sales further supports this negative outlook.
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IMPORTANCE 80
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