Could a change in corporate name be next?
On Wednesday, Casual Male Retail Group Inc. will change its ticker symbol on the Nasdaq Global Market to DXLG from CMRG to reflect its shift away from its Casual Male stores to its Destination XL superstores.
“The company is in the process of transitioning from the old Casual Male brand to our new Destination XL retail stores and destinationxl.com Web site,” said David Levin, president and chief executive officer. “The 44 DXL stores that are currently open have outperformed our current Casual Male XL stores and we are excited about the significant potential growth opportunities. We currently expect to open 225 to 250 DXL stores and to close all of our traditional Casual Male XL locations by the end of fiscal 2015. Our new DXLG ticker symbol is better aligned with the new brand and reflects this growth initiative.”
Casual Male Retail Group is the country’s largest men’s big-and-tall retailer with 377 Casual Male retail and outlet stores, 12 Rochester Clothing units and 44 Destination XL units, which incorporate each of the company’s divisions under one roof.