Destination XL Group (DXLG) Misses Q1 EPS by 8c, Miss on Revenues; Offers FY Guidance

Destination XL Group (NASDAQ: DXLG) reported Q1 EPS of ($0.12), $0.08 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $107.7 million versus the consensus estimate of $109.24 million.

GUIDANCE:

Destination XL Group sees FY2017 EPS of ($0.14)-$0.06, versus the consensus of ($0.09). Destination XL Group sees FY2017 revenue of $470-480 million, versus the consensus of $471.55 million.

Reaffirmed Fiscal 2017 Outlook

Our fiscal 2017 outlook, based on a 53-week year, is as follows:

• Sales are expected to range from $470.0 million to $480.0 million, with a total Company comparable sales increase of approximately 1.0% to 4.0%.
• Gross margin rate of approximately 46.0%, an increase of 50 basis points from fiscal 2016.
• SG&A expenses expected to increase 150 to 200 basis points from fiscal 2016.
• Net loss, on a GAAP basis, of $(5.7) to $(11.7) million, or $(0.11) to $(0.23) per diluted share.
• EBITDA of $24.0 to $30.0 million.
• Adjusted net loss, on a non-GAAP basis, of $(0.06) to $(0.14) per diluted share, assuming a normal tax rate of 40%.
• Capital expenditures of approximately $22.0 million, $8.3 million of which will be for infrastructure projects and $13.7 million of which will be for new DXL stores (before tenant allowances of approximately $5.0 million).
• Cash flow from operating activities of $37.0 million to $42.0 million, resulting in free cash flow after capital expenditures for new DXL stores of $15.0 to $20.0 million.

For earnings history and earnings-related data on Destination XL Group (DXLG) click here.

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