Destination XL Group Inc. (OTCMKTS: DXLG) reports sales of 4138.6 Million in Q2 and revises Fiscal 20201 Guidance

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

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Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Destination XL Group Inc. (OTCMKTS: DXLG) announced its Q2 2021 financial results and provided revised fiscal 2021.

Q2 2021 sales up 81.3%

The company reported total sales of $138.6 million in Q2 2021, an increase of 81.3% from 76.4 million in Q2 2020 and up 12.5% from 123.2 million in Q2 2019. Comparable sales were up 21.6% compared to Q2 2019, driven by the company’s direct business, which grew 52.2%, and stores that were up 13.1%. The increase in direct business was a result of the DLX-com eCommerce platform w which generated sales growth of 66.4% relative to Q2 2019.

Destination XL Group reported a net income of $24.5 million or $0.36 per diluted share relative to a net loss of $10.7 million or $0.21 per diluted share in Q2 2020. Adjusted EBITDA in Q2 2021 was $29.8 million relative to $4.3 million in Q2 2020. For the first six months of the year, cash flow from operations was $42.2 million versus $9.0 million for the same period a year ago.

CEO and President Harvey Kanter said, “We are very pleased to report second quarter results that far surpassed our internal expectations. We believe that we are witnessing a material shift in how consumers are thinking about and engaging with DXL. As a result, we are raising our full year 2021 guidance to reflect the revised outlook we have for the future of DXL, but also caution our optimism given the ongoing surges of the Covid Delta variant and ongoing risk in the supply chain.”

Destination XL revises fiscal 2021 guidance

Following an exceptional performance in Q2, the company is bullish about 2H 2021. As a result, the company has revised its fiscal 2021 financial guidance but expects the gross margin to drop because of holiday promotions. As a result, the company expects sales of between $490 million and $505 million for fiscal 2021 and net income of between $0,64 and $0.76 per share.

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Deputy Minister Nocawe Mafu congratulates Team SA on pocketing more medals at the 2022 Commonwealth Games

Birmingham (UK): Team South Africa added four more medals to their collection at the ongoing Commonwealth Games in Birmingham on Saturday.

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South Africa: 3816 (Three thousand eight hundred sixteen) vehicles were checked, and 184 traffic fines were issued at roadblocks conducted by 238 female law enforcement officers and other stakeholders across the five municipal districts in the province.