UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 8, 2018
DESTINATION XL GROUP, INC.
(Exact name of Registrant as Specified in Its Charter)
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Delaware |
01-34219 |
04-2623104 |
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(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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555 Turnpike Street, Canton, Massachusetts |
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02021 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s Telephone Number, Including Area Code: (781) 828-9300
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 −Regulation FD Disclosure
On January 8, 2018, Destination XL Group, Inc. (the “Company”) issued a press release announcing holiday sales for the nine weeks ended December 30, 2017 and its expectation that it would achieve the low-end of its guidance range for the fiscal year ended February 3, 2018 (“fiscal 2017”). A copy of this press release is furnished herewith as Exhibit 99.1.
The Company will participate in the 2018 ICR Conference and is scheduled to present on Monday, January 8, 2018 at 10:00 a.m. Eastern Time. The presentation will be webcast live and available for replay in the Investor Relations section of Destination XL's website at investor.destinationxl.com.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
99.1Press release dated January 8, 2018
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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DESTINATION XL GROUP, INC. |
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Date: |
January 8, 2018 |
By: |
/s/ Robert S. Molloy |
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Robert S. Molloy |
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Senior Vice President, General Counsel and Secretary |
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Exhibit No. Description
99.1Press release dated January 8, 2018
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Exh. 99.1
January 8, 2018
Destination XL Group, Inc. Announces Holiday Sales Results
CANTON, MA -- (Globenewswire) -- Destination XL Group, Inc. (NASDAQ:DXLG), the largest omni-channel specialty retailer of big & tall men's apparel, today announced that total sales for the 9-week holiday sales period ended December 30, 2017 increased 3.5% to $101.3 million as compared to $97.9 million for the same period of the prior year. Comparable sales for the same period increased 3.0%.
November/December Sales by Month:
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For November, total sales increased 2.2% to $37.4 million compared to $36.6 million last year. Comparable sales for November increased 0.9% compared to a decline of 0.9% last year. |
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For December, total sales increased 4.2% to $63.9 million compared to $61.3 million last year. Comparable sales for December increased 4.3% compared to a decline of 1.7% last year. |
Based on the holiday sales results and expectations for the remainder of the fourth quarter, the Company expects to achieve the low-end of the range of its previously announced guidance for fiscal 2017. The Company plans to report its actual fourth-quarter and fiscal 2017 financial results on March 23, 2018, when management will also conduct its quarterly conference call to discuss its results for fiscal 2017, as well as its fiscal 2018 outlook.
Destination XL Group, Inc. will participate in the 2018 ICR Conference to be held at the JW Marriott Orlando Grande Lakes in Orlando, Florida on January 8-10, 2018. Management is scheduled to present on Monday, January 8, 2018 at 10:00 a.m. Eastern Time. The presentation will be hosted by David Levin, President and Chief Executive Officer, and Peter Stratton, Executive Vice President, Chief Financial Officer, and Treasurer. The presentation will be available to interested parties via a live audio webcast at http://wsw.com/webcast/icr4/dxlg.
The presentation will be webcast live and available for replay in the Investor Relations section of Destination XL's website at investor.destinationxl.com
About Destination XL Group, Inc.
Destination XL Group, Inc. is the largest omni-channel specialty retailer of big & tall men's apparel with store locations throughout the United States and London, England and Ontario, Canada. The retailer operates under five brands: Destination XL®, Casual Male XL, Rochester Clothing, ShoesXL and LivingXL. The Company also operates an e-commerce site at www.destinationxl.com. With more than 2,000 private label and name brand styles to choose from, big and tall customers are provided with a unique blend of wardrobe solutions not available at traditional retailers. The Company is headquartered in Canton, Massachusetts. For more information, please visit the Company's investor relations website: http://investor.destinationxl.com.
Exh. 99.1
Certain statements and information contained in this press release constitute forward-looking statements under the federal securities laws, including statements regarding the Company’s expectations with respect earnings for fiscal 2017. The discussion of forward-looking information requires management of the Company to make certain estimates and assumptions regarding the Company's strategic direction and the effect of such plans on the Company's financial results. The Company's actual results may differ materially from forward-looking statements made by the Company. The Company encourages readers of forward-looking information concerning the Company to refer to its filings with the Securities and Exchange Commission, including without limitation, its Annual Report on Form 10-K filed on March 20, 2017, that set forth certain risks and uncertainties that may have an impact on future results and direction of the Company, including the risks relating to the Company’s execution of its DXL strategy and ability to grow its market share, predict customer tastes and fashion trends, forecast sales growth trends and compete successfully in the United States men’s big and tall apparel market.
Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company undertakes no obligation and expressly disclaims any duty to update such statements.
Investor Contact:
ICR, Inc.
Tom Filandro
646-277-1200
Source: Destination XL Group, Inc.