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DXL Posts Higher Losses in Q4, Will Close Rochester Stores

The losses at Destination XL Group continued to mount in the fourth quarter, despite higher comparable-store sales. But a new wholesale strategy and a new chief executive officer are expected to help the company improve its fortunes in 2019.
At the same time, the company revealed that it will close the remaining five Rochester Clothing stores — a more-upscale brand that it acquired in 2004 — by the end of the fiscal year.
In an earnings call Friday morning, David Levin, acting chief executive officer, said: “The growth in our DXL brand has slowly eroded the sales volume and profitability in our remaining Rochester, N.Y., stores, which are located in high rent metro areas.
“Much of our Rochester assortment will continue to be available on DXL.com and many Rochester brands can be found in DXL stores. With the exception of London, all of our Rochester stores are located in markets within close proximity to one or more DXL stores. In the U.S. we’re working on a customer transfer strategy to encourage our Rochester customers to migrate to nearby DXL stores, and we’re confident that once our Rochester customers discover the DXL experience they will become DXL loyalists.”
On Friday morning, the Canton, Mass.-based men’s

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Via:: https://wwd.com/menswear-news/mens-retail-business/dxl-posts-higher-losses-in-q4-will-close-rochester-stores-1203089961/