By and  on March 15, 2013

Results for the fourth quarter and year show Destination XL Group Inc. is moving in the right direction as it transitions away from its former nameplate, Casual Male Retail Group.

On Friday, the company said net income for the fourth quarter ended Feb. 2 was $4.2 million, or 9 cents a diluted share, compared with $33.5 million, or 70 cents, last year. Excluding the year-ago one-time nonrecurring tax benefit of $42.5 million and the noncash impairment charge of $23.1 million against the Casual Male trademark, the current quarter’s $4.2 million in net income would have represented a 35.5 percent rise compared with the $3.1 million, or 6 cents a diluted share, last year.

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