Destination XL Group Inc. is tapping the brakes on the conversion to its superstore format and closure of its Casual Male stores, a process now expected to be completed in 2017, two years later than planned.
David Levin, president and chief executive officer, told analysts Friday that while same-store sales at its DXL concept “dramatically” outperform those of Casual Male, “our initial concerns about declining productivity and erosion of our customer base of the remaining Casual Male XL stores did not materialize.” As a result, the company will scale back its plan to close all of the Casual Male stores in an accelerated fashion.
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