Destination Xl Group, Inc. (DXLG) SEC Filing 10-K Annual report for the fiscal year ending Saturday, January 28, 2017

Destination XL Group, Inc. Reports Fourth-Quarter and Fiscal 2016 Financial Results

FY 2016 Net Loss Improved 73%; EBITDA Grew 36%;

Company Provides 2017 Guidance and Announces $12.0 Million Stock Repurchase Program

CANTON, Mass., March 20, 2017 – 

Highlights

Management Comments

“Despite the 2016 retail environment being one of the most challenging in recent memory, we were very pleased to deliver strong growth in EBITDA and free cash flow,” said President and CEO David Levin.  “In 2016, we fully funded our DXL store expansion from free cash flow and grew EBITDA nearly 36%,” Levin said.

Levin went on to note that, “We enter the new fiscal year keenly focused on continuing to grow our customer base by leveraging our fully developed fleet of DXL stores and elevating our digital distribution channel. Six out of ten big and tall guys still do not know who we are and, therefore, our top priority in 2017 is customer retention and acquisition.  We intend to fuel that objective with a marketing dollar increase of approximately 40% this year, including reinstituting television advertising beginning April 2^nd.

“Fiscal 2016 marked a milestone year for our Company with the opening of our 200^th DXL store, which now affords us the scale and reach to service our customers across every major market in the U.S. through in-store and online channels.  We are also thrilled to have entered the Canadian market with our first Company-operated DXL store in the Toronto area,” Levin commented.

Levin also highlighted that, “Under the leadership of Sahal Laher, our new Chief Digital and Information Officer, we are accelerating our efforts to leverage our already robust omni-channel capabilities with a

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