Destination XL Group 10-Q Filed

TL;DR

**DXLG Q2 10-Q is IN! Financials look steady, check the details.**

AI Summary

Destination XL Group, Inc. filed its 10-Q for the period ending August 3, 2024. The filing details financial performance, including sales revenue and equity accounts. Key dates mentioned are August 3, 2024, and February 4, 2024, with specific financial figures related to common stock and additional paid-in capital.

Why It Matters

This filing provides investors with an update on Destination XL Group's financial health and operational performance during the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-08-03 — Period End Date (Financial reporting period)
• 2024-02-04 — Fiscal Year Start Date (Beginning of the reporting period)
• 2023-08-11 — Prior Year Date (Reference for comparative data)

Key Players & Entities

• DESTINATION XL GROUP, INC. (company) — Filer
• 0000950170-24-101685 (other) — Accession Number
• 20240803 (date) — Period of Report
• 20240829 (date) — Filed as of Date
• CASUAL MALE RETAIL GROUP INC (company) — Former Company Name
• DESIGNS INC (company) — Former Company Name
• 555 TURNPIKE STREET (address) — Business Address
• CANTON (location) — Business City
• MA (location) — Business State
• 02021 (zip_code) — Business Zip

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value DXLG The Nasdaq Stock Mar

Filing Documents

• dxlg-20240803.htm (10-Q) — 1673KB
• dxlg-ex31_1.htm (EX-31.1) — 15KB
• dxlg-ex31_2.htm (EX-31.2) — 15KB
• dxlg-ex32_1.htm (EX-32.1) — 9KB
• dxlg-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-101685.txt ( ) — 7791KB
• dxlg-20240803.xsd (EX-101.SCH) — 1385KB
• dxlg-20240803_htm.xml (XML) — 1201KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. DESTINATION XL GROUP, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) August 3, 2024 February 3, 2024 (Fiscal 2024) (Fiscal 2023) ASSETS Current assets: Cash and cash equivalents $ 21,475 $ 27,590 Short-term investments 41,732 32,459 Accounts receivable 898 3,920 Inventories 78,612 80,968 Prepaid expenses and other current assets 8,977 8,308 Total current assets 151,694 153,245 Non-current assets: Property and equipment, net of accumulated depreciation and amortization 47,791 43,238 Operating lease right-of-use assets 163,246 138,118 Deferred income taxes, net of valuation allowance 19,403 21,533 Intangible assets 1,150 1,150 Other assets 484 457 Total assets $ 383,768 $ 357,741 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 22,576 $ 17,353 Accrued expenses and other current liabilities 25,505 35,302 Operating leases, current 35,155 37,221 Total current liabilities 83,236 89,876 Long-term liabilities: Operating leases, non-current 141,479 117,316 Other long-term liabilities 2,099 1,596 Total long-term liabilities 143,578 118,912 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.01 par value, 1,000,000 shares authorized, none issued — — Common stock, $ 0.01 par value, 125,000,000 shares authorized, 79,329,785 and 79,033,378 shares issued at August 3, 2024 and February 3, 2024, respectively 793 790 Additional paid-in capital 327,235 325,202 Treasury stock at cost, 21,094,463 shares at August 3, 2024 and 21,041,661 shares at February 3, 2024 ( 130,348 ) ( 130,137 ) Accumulated deficit ( 40,726 ) ( 46,902 ) Total stockholders' equity 156,954 148,953 Total liabilities and stockholders' equity $ 383,768 $ 357,741 The accompanying notes are an integra

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) 1. Basis of Presentation In the opinion of management of Destination XL Group, Inc., a Delaware corporation (collectively with its subsidiaries, referred to as the "Company"), the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary for a fair presentation of the interim financial statements. These financial statements do not include all disclosures associated with annual financial statements and, accordingly, should be read in conjunction with the notes to the Company's audited Consolidated Financial Statements for the fiscal year ended February 3, 2024 included in the Company's Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 21, 2024. The information set forth in these statements may be subject to normal year-end adjustments. The information reflects all adjustments that, in the opinion of management, are necessary to present fairly the Company's results of operations, financial position and cash flows for the periods indicated. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company's business historically has been seasonal in nature, and the results of the interim periods presented are not necessarily indicative of the results to be expected for the full year. The Company's fiscal year is a 52- or 53- week period ending on the Saturday closest to January 31. Fiscal 2024 is a 52-week period ending on February 1, 2025 and fiscal 2023 was a 53-week period ending on February 3, 2024. Segment Information The Company has two principal operating segments: its st

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View this 10-Q filing on SEC EDGAR