Destination XL sees 2024 revenue $500M-$530M

The company said, “We plan to invest in our brand, stores and digital business in fiscal 2024, which will include increased marketing investments, as we look to accelerate our growth trajectory. Further, we believe that improvement in consumer discretionary spending will continue to be slow to recover given the current economic landscape caused by the past two years of elevated inflation and uncertainty over the upcoming presidential and congressional elections. We have built our plans around maintaining a minimum acceptable level of profitability, which we are setting at 7.0% adjusted EBITDA margin. As such, our guidance for fiscal 2024 assumes a mid-to-high single digit decrease in comparable sales through the first half of fiscal 2024, with improvement to a low to mid-single digit increase in comparable sales in the second half, resulting in a range for comparable sales of (4.4)%-1.4% for the full year. Our guidance for fiscal 2024, based on a 52-week year is as follows: Sales of $500.0 – $530.0 million; Net income of approximately $17.0 million’ Adjusted EBITDA of approximately $36.0 million.”