Destination XL Q2 Loss Greater Than Estimated - Quick Facts

(RTTNews) - Destination XL Group, Inc. (DXLG) reported second-quarter net loss of $4.0 million or $ 0.08 per share compared with a loss of $1.6 million or $0.03 per share a year ago.

Excluding certain items, assuming a normalized tax rate of 40 percent, the adjusted net loss for the quarter was $2.4 million or $0.05 per share. On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.04 for the quarter. Analysts' estimates typically exclude special items.

The net loss for the latest quarter includes a charge for inventory reserves and sales allowances of $0.02 per share, relating to the exit of the Sears Canada Direct business.

Quarterly sales rose to $103.7 million from $98.0 million last year, with comparable sales increasing 7.0 percent. Analysts expected revenue of $104.43 million.

Looking ahead, for the fiscal 2014, the company expects loss per share in the range of $0.21 - $0.27 and adjusted loss per share in the range $0.12 - $0.16. Total sales are expected to be between $413.0 million and $418.0 million. Analysts forecast loss per share of $0.14, on revenue of $414.66 million.