- Destination XL Group Inc (NASDAQ:DXLG) reported fourth-quarter FY21 sales growth of 33.3% year-on-year, to $133.45 million, beating the consensus of $131.88 million.
- Comparable sales increased 41.5% versus last year and 9.4% compared to Q4 FY19.
- EPS of $0.14 beat the analyst consensus of $0.13.
- The gross margin expanded by 1080 basis points to 49.8%, and the gross profit increased 70% Y/Y to $66.4 million.
- The operating margin was 7.8%, and operating income for the quarter was $10.4 million.
- The company held $15.5 million in cash and equivalents as of January 29, 2022. Cash flow from operating activities for FY21 totaled $75.5 million.
- Adjusted EBITDA jumped to $14.3 million versus $0.7 million last year.
- Inventory at the end of the quarter fell 3.8% Y/Y to $81.8 million.
- The company's board authorized the repurchase of up to $15.0 million of common stock.
- Outlook: Destination XL sees FY22 sales of $510 million - $530 million and an EBITDA margin greater than 10.0%.
- Price Action: DXLG shares traded higher by 3.06% at $4.72 on the last check Thursday.
