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Destination XL fiscal Q2 loss widens 53.7% YOY

Destination XL Group Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss grew 52.9% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.5 million, compared with a loss of $1.6 million in the year-earlier period.

The normalized profit margin declined to negative 1.8% from negative 1.6% in the year-earlier period.

Total revenue rose 5.8% on an annual basis to $103.7 million from $98.0 million, and total operating expenses increased 6.8% on an annual basis to $107.2 million from $100.4 million.

Reported net income came to a loss of $3.9 million, or a loss of 8 cents per share, compared to a loss of $1.5 million, or a loss of 3 cents per share, in the year-earlier period.