Total sales for the first quarter at Destination XL Group were 127.7 million dollars, up 14.5 percent. Comparable sales for the quarter increased 19.5 percent as compared to the first quarter of fiscal 2021.
Net income was 13.4 million dollars or 20 cents per diluted share compared to 8.7 million dollars or 14 cents per diluted share, in the first quarter of fiscal 2021. Adjusted EBITDA was 17.3 million dollars compared to 13.7 million dollars in the first quarter of fiscal 2021.
“We are pleased to report that DXL’s brand repositioning and digital transformation have continued to drive growth, as the company delivered its fifth consecutive quarter of expanded sales and earnings. Comparable sales increased 19.5 percent for the quarter, with increases across all of our customer channels,” said Harvey Kanter, the company’s president and chief executive officer in a statement.
Based on our first quarter of fiscal 2022 results, DXL is reaffirming sales guidance for fiscal 2022 in a range of 510 million dollars to 530 million dollars and that the adjusted EBITDA margin to be greater than 10 percent.
