Latest news with #FiTMAP
Fibre2Fashion
7 days ago
- Business
- Fibre2Fashion
US retailer DXL's gross margin drops to 45.1% amid lower sales in Q1
For the first quarter (Q1) of fiscal 2025 (FY25), Destination XL (DXL) Group, the leading integrated-commerce specialty retailer of Big + Tall men's clothing and shoes, has recorded gross margin rate, inclusive of occupancy costs, of 45.1 per cent as compared to a gross margin rate of 48.2 per cent for the first quarter of fiscal 2024. The company's gross margin rate decreased by 310 basis points, which was driven by an increase of 280 basis points in occupancy costs, as a percentage of sales, due to the deleveraging from lower sales and increased rents from new stores and lease extensions. Merchandise margin for the first quarter decreased by 30 basis points, as compared to the first quarter of fiscal 2024, primarily due to an increase in markdown activity and promotional offers associated with new marketing initiatives, including the new loyalty programme, as well as an increase in freight costs associated with the acceleration of inventory receipts. These increases were partially offset by an increase in merchandise margins as a result of a shift in product mix. Destination XL (DXL) reported a Q1 FY25 gross margin of 45.1 per cent, down from 48.2 per cent in the prior year, due to higher occupancy costs and increased markdowns. Total sales declined to $105.5 million from $115.5 million, with comparable sales falling 9.4 per cent. Merchandise margin also dipped slightly amid promotional activity and rising freight costs. 'We are currently managing our business through an economic downcycle, and our performance does not reflect the opportunity in our total addressable market or the longer-term potential for our brand. We believe the broader macroeconomic challenges within the apparel industry and consumer sentiment are pushing our customer to be more discerning in what he is buying. Our assortment is well positioned to serve those value-oriented customers who are trading down from national designer brands to our private label brands, which have lower average unit retail prices but higher margins,' said Harvey Kanter, president and chief executive officer . Total sales for the first quarter of fiscal 2025 were $105.5 million, as compared to $115.5 million in the first quarter of fiscal 2024. The decrease in total sales was primarily attributable to a decrease in comparable sales for the first quarter of 9.4 per cent, partially offset by an increase in non-comparable sales, the company said in a press release. 'We've recently implemented several initiatives to ensure the value of our assortment is clear. Today we offer our price match guarantee, fit exchange, and first responder programmes, which are helping with DXL's price perception and, together with our loyalty program, are helping to drive enhanced value and affinity for our brand. We are also extending our FiTMAP sizing technology programme which allows customers to use leading edge technology to understand their individual sizing. Our guests can now engage with our brand in a much more personalised manner using this full body scanning technology. Our net promoter score continues to shine and is touching just over 80 in stores and our conversion is up year over year. Although our sales performance was below expectations, we are seeing some improvement in sales velocity, while still maintaining a healthy merchandise margin and controlling costs,' explained Kanter. Sales trends improved month over month, with comparable sales down 13.9 per cent in February, down 8.2 per cent in March, and down 7.2 per cent in April. Overall, the first quarter decline was consistent with the sales trend in fiscal 2024, as customers are continuing to pull back on discretionary spending. The company continues to see customers shift toward private-label brand merchandise and value-driven brands. Fibre2Fashion News Desk (RR)
Yahoo
31-05-2025
- Business
- Yahoo
DXL, Now Open In Boca Raton: Clothes That Actually Fit Big + Tall Men Shouldn't Be A Crazy Idea, Right?
BOCA RATON, Fla., May 31, 2025 /PRNewswire/ -- Destination XL Group, Inc. (Nasdaq: DXLG), the leading integrated-commerce retailer specializing in Big + Tall men's clothing and shoes, announces the grand opening of its latest store in Boca Raton, FL, located in Towne Plaza at 2301 Glades Road. This marks DXL's fifth new store opening of the fiscal year. After decades of designing, creating and offering high-quality clothes that truly fit Big + Tall men, DXL's dedication to an underserved market has only grown. The new Boca Raton location offers a superior shopping experience, featuring styles only found at DXL and, more importantly, sized to actually fit the Big + Tall guy perfectly. The store showcases all of the brands guests love, including Polo Ralph Lauren®, Reebok®, Nautica®, vineyard vines®, Columbia®, Tommy Bahama®, and more. The store also includes DXL's new proprietary FiTMAPSM Sizing Technology, an innovative digital scanning technology that takes each guest's unique measurements. With this information, shoppers can find custom clothing options and get accurate size recommendations across many of DXL's brands for a perfect fit every time. "We are excited to extend our reach to the greater Boca Raton area, offering more options, convenience, and a straightforward shopping experience to our Big + Tall customers," said Harvey Kanter, President and Chief Executive Officer of DXL. "The Boca Raton DXL is not just a new store; it provides men with fashion that fits comfortably and looks great. Our mission is to ensure every Big + Tall guy can wear what he wants." The Boca Raton store opened on May 31, 2025. About Destination XL GroupDestination XL Group, Inc. is the leading retailer of Men's Big + Tall apparel that provides the Big + Tall man the freedom to choose his own style. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores throughout the United States, and an e-commerce website, and mobile app, which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online products available anywhere for Big + Tall men. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG." For more information, please visit the Company's investor relations website: View original content to download multimedia: SOURCE Destination XL Group, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
DXL, Now Open In Syracuse: Clothes That Actually Fit Big + Tall Men Shouldn't Be A Crazy Idea, Right?
SYRACUSE, N.Y., May 17, 2025 /PRNewswire/ -- Destination XL Group, Inc. (Nasdaq: DXLG), the leading integrated-commerce retailer specializing in Big + Tall men's clothing and shoes, announces the grand opening of its latest store in Syracuse, NY, located at 3455 Erie Blvd E. This marks DXL's third new store opening of the fiscal year and its twelfth within the past 12 months across the United States. After decades of designing, creating and offering high-quality clothes that truly fit Big + Tall men, DXL's dedication to an underserved market has only grown. The new Syracuse location offers a superior shopping experience, featuring styles only found at DXL and, more importantly, sized to actually fit the Big + Tall guy perfectly. The store showcases all of the brands guests love, including Polo Ralph Lauren®, Reebok®, Nautica®, vineyard vines®, Columbia®, Levi's®, and more. The store also includes DXL's new proprietary FiTMAPSM Sizing Technology, an innovative digital scanning technology that takes each guest's unique measurements. With this information, shoppers can find custom clothing options and get accurate size recommendations across many of DXL's brands for a perfect fit every time. "We are excited to extend our reach to the greater Syracuse area, offering more options, convenience, and a straightforward shopping experience to our Big + Tall customers," said Harvey Kanter, President and Chief Executive Officer of DXL. "The Syracuse DXL is not just a new store; it provides men with fashion that fits comfortably and looks great. Our mission is to ensure every Big + Tall guy can wear what he wants." The Syracuse store is now open on May 17, 2025. About Destination XL Group Destination XL Group, Inc. is the leading retailer of Men's Big + Tall apparel that provides the Big + Tall man the freedom to choose his own style. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores throughout the United States, and an e-commerce website, and mobile app, which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online products available anywhere for Big + Tall men. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG." For more information, please visit the Company's investor relations website: Investor Contact: 603-933-0541 Related Linkshttp:// View original content to download multimedia: SOURCE Destination XL Group, Inc.
Yahoo
17-05-2025
- Business
- Yahoo
DXL, Now Open In Syracuse: Clothes That Actually Fit Big + Tall Men Shouldn't Be A Crazy Idea, Right?
SYRACUSE, N.Y., May 17, 2025 /PRNewswire/ -- Destination XL Group, Inc. (Nasdaq: DXLG), the leading integrated-commerce retailer specializing in Big + Tall men's clothing and shoes, announces the grand opening of its latest store in Syracuse, NY, located at 3455 Erie Blvd E. This marks DXL's third new store opening of the fiscal year and its twelfth within the past 12 months across the United States. After decades of designing, creating and offering high-quality clothes that truly fit Big + Tall men, DXL's dedication to an underserved market has only grown. The new Syracuse location offers a superior shopping experience, featuring styles only found at DXL and, more importantly, sized to actually fit the Big + Tall guy perfectly. The store showcases all of the brands guests love, including Polo Ralph Lauren®, Reebok®, Nautica®, vineyard vines®, Columbia®, Levi's®, and more. The store also includes DXL's new proprietary FiTMAPSM Sizing Technology, an innovative digital scanning technology that takes each guest's unique measurements. With this information, shoppers can find custom clothing options and get accurate size recommendations across many of DXL's brands for a perfect fit every time. "We are excited to extend our reach to the greater Syracuse area, offering more options, convenience, and a straightforward shopping experience to our Big + Tall customers," said Harvey Kanter, President and Chief Executive Officer of DXL. "The Syracuse DXL is not just a new store; it provides men with fashion that fits comfortably and looks great. Our mission is to ensure every Big + Tall guy can wear what he wants." The Syracuse store is now open on May 17, 2025. About Destination XL Group Destination XL Group, Inc. is the leading retailer of Men's Big + Tall apparel that provides the Big + Tall man the freedom to choose his own style. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores throughout the United States, and an e-commerce website, and mobile app, which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online products available anywhere for Big + Tall men. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG." For more information, please visit the Company's investor relations website: Investor Contact: 603-933-0541 Related Linkshttp:// View original content to download multimedia: SOURCE Destination XL Group, Inc.
