- Destination XL Group (NASDAQ:DXLG) reports comparable-store sales rose 2.2% in Q1.
- Gross margin rate slipped 50 bps to 44.7%.
- Merchandise margins fell 120 bps Y/Y, due to increase in promotional markdowns and related shipping costs, primarily in direct business.
- SG&A expense rate leveraged 270 bps to 40.2% .
- EBITDA expanded 104% to $5.1M, driven by sales growth as well as reduced SG&A expenses related to lower marketing costs.
- Inventories down 12.5% Y/Y to $106.22M.
- Store count -5 Y/Y to 339.
- FY2018 Guidance: Total sales: $462M to $472M; Total comp sales: ~+1% to +3%; Gross margin rate: ~44.5% to 45.5%; EBITDA: $20M to $25M; GAAP EPS:-$0.27 to -$0.37; Non-GAAP EPS: -$0.11 to -$0.18; Capex: ~$11.4M; Cash flow from operating activities: $20.5M to $26.5M; Store count: 333.
- DXLG +3.03% premarket.
- Previously: Destination XL reports Q1 results (May 30)
- Now read: Daily Insider Ratings Round Up 4/10/18: AVEO, IFF, OPK, ICTSF, DXLG, NEWM, HCAP, CONN
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