Destination XL Group, Inc. (NASDAQ: DXLG) reported sales of $115.5 million for the second quarter of fiscal 2025, reflecting a 7.5% decrease from the same period in fiscal 2024.
The net loss for the quarter was $(0.3) million, resulting in breakeven net loss per diluted share.
Adjusted EBITDA for the quarter was $4.6 million, down from $6.5 million in the second quarter of fiscal 2024.
Sales Performance
Total sales decreased by 7.5% compared to the same period in fiscal 2024.
Net Loss
The company reported a net loss of $(0.3) million for the quarter.
Credit Facility Extension
Destination XL Group extended its credit facility through August 2030, providing access to up to $100 million of future borrowing capacity.
- The decrease in cash and investments, including shares repurchased and capital spent on new store development, signals strategic financial management.
- Management's comments highlight the challenges in the Big & Tall sector, consumer behavior shifts, and the impact of macroeconomic challenges on consumer spending.
In response to market challenges, Destination XL Group is focusing on private brands, strategic promotions, and a disciplined promotional strategy to drive sales growth and improve profitability in the face of market volatility.