By  on November 30, 2018

The corporate restructuring instituted earlier this year is starting to pay off for Destination XL Group.

In the third quarter, the men’s big and tall retailer cut its losses and improved its comparable-store sales, prompting it to update its earnings guidance for the fiscal year. But its search for a new chief executive officer continues as the countdown to the departure of current chief David Levin approaches on Dec. 31. In the case that the retailer can’t find a replacement by yearend, Levin will transition to acting ceo from Jan. 1 to April 30 for $200,000 a month. The company has an option to renew that arrangement until June 30, 2019, Levin said on the investors’ call.

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