Destination XL Group

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Destination XL Group, Inc. [1] [2]
Type Public
Traded as NASDAQDXLG
Industry Retail
Founded 1976[3]
Founder(s) Calvin Margolis
Stanley Berger[3]
Headquarters Canton, Mass., U.S.
Number of locations Destination XL: 10
Rochester B&T: 16
Casual Male XL: 440[4]
Area served United States
Canada
London, England[5]
Key people David A. Levin, CEO[6]
Products Clothing
Home & Living Items
Revenue US$467.51 million[6]
Net income US$42.63 million[6]
Employees 3092[6]
Divisions Destination XL
Rochester Big & Tall
Casual Male XL
BT Factory Direct
Shoes XL
Living XL
Website DestinationXL.com
The Casual Male XL in Harmon Meadow Plaza in Secaucus, New Jersey.

Destination XL Group, Inc. (DXLG) is the largest retailer of men's big and tall apparel, with operations throughout the United States, Canada and in London, England. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the NASDAQ Global Market under the symbol "DXLG." It operates six chains under the trade names Destination XL, Rochester Big & Tall, Casual Male XL, BT Factory Direct, Shoes XL, and Living XL. The first three businesses do business both in stores and online with Destination XL being the largest of the stores (sort of a combination Casual Male and Rochester store, Rochester Big & Tall the more upscale of the three, and Casual Male more like a normal big and tall store). The other three stores strictly conduct business online. All six stores once had their own websites, but recently Destination XL decided to consolidate the sites into Destination XL's website— therefore, all six online stores are subsections of destinationxl.com.

DXLG is currently in the process of transitioning from Casual Male XL to focus primarily on the Destination XL concept. The Company expects to complete the process by the end of 2015, when it expects to have over 225 stores nationwide.

DXLG also has deals with Sears Canada to provide the Sears Big & Tall clothing lines.[7] It is the largest retailer of such clothing, with about 500 locations in the United States, England and Canada.[8][9]

National brands carried by the chain include Cubavera, Nautica Jeans, Geoffrey Beene, Calvin Klein, and Reebok. Its in-house brands include Harbor Bay, Oak Hill, Synrgy, True Nation, and CM Gold Series, respectively. In addition, the Destination XL and Rochester stores carry such brands as Polo Ralph Lauren, Brooks Brothers, Robert Graham, True Religion, Peter Millar, Cutter & Buck, Tommy Hilfiger, Lacoste and Paul & Shark and their in-house brands Rochester and Society of One.[10]

History[edit]

What is now Destination XL Group was founded in 1976 by Calvin Margolis and Stanley Berger as Designs, Inc., a chain of retail stores that sold Levi's Dockers.

In May 2002, Designs, Inc. bought the Casual Male Big & Tall chain of stores out of bankruptcy and elected to focus their business on those stores, selling off their other businesses and assuming the Casual Male name.[11]

In 2004, Casual Male hired former champion boxer George Foreman to promote the chain and become the spokesman for new lines of clothing bearing his name. Also in 2004, Casual Male began a program to remodel its stores.[12][13]

In 2005, Casual Male changed the name of its Casual Male stores from Casual Male Big & Tall to Casual Male XL.[14]

In 2006, the Casual Male purchased Jared M., a custom clothing business that catered to professional athletes and other high profile clients. Casual Male decided in 2007 to discontinue the Jared M. operation due to concerns about its long-term performance.[15]

In May of 2013, the company launched its first advertising campaign supporting the Destination XL brand.

References[edit]

  1. ^ http://www.nasdaq.com/symbol/dxlg
  2. ^ http://www.marketwatch.com/story/casual-male-retail-group-inc-announces-name-change-to-destination-xl-group-inc-2013-02-22
  3. ^ a b "Destination XL Group Inc - DEF 14A - For 6/13/95". SEC Info. Retrieved 2007-12-16. 
  4. ^ "Find a Store". Destination XL. 
  5. ^ "CMRG Profile - Casual Male Retail Grp Inc Profile - DXLG Company Information - Destination XL Group Inc Company Information". MarketWatch. Retrieved 2008-05-13. 
  6. ^ a b c d "Destination XL - 2007 Globe 100". The Boston Globe. May 22, 2007. Retrieved 2008-05-13. 
  7. ^ Todé, Chantal (March 31, 2006). "Sears, Casual Male to Launch Co-Branded Catalog". Direct Marketing News. 
  8. ^ Jerry Large (May 31, 2007). "New lifestyle catalog aims at the living-large market". Seattle Times. Retrieved 2008-05-13. 
  9. ^ "SAC Capital Discloses 6.2% Stake in Casual Male (CMRG)". StreetInsider.com. November 27, 2006. Retrieved 2008-05-13. 
  10. ^ About Us. Destination XL. Retrieved on 2007-12-16.
  11. ^ Larry Dignan (December 6, 2005). "Casual Male CEO: Can IT Keep Inventory Fit?". Baseline. Retrieved 2008-05-13. 
  12. ^ Chris Reidy (February 10, 2004). "The ad champ". The Boston Globe. pp. D1. Retrieved 2007-12-16. 
  13. ^ Naomi Aoki (July 6, 2004). "Casual Male's heavyweight hopes". The Boston Globe. Retrieved 2008-05-13. 
  14. ^ Mark Jewell (August 10, 2006). "In with 'XL,' out with 'Big & Tall' for men's large-size clothier". San Diego Union-Tribune (Associated Press). Retrieved 2007-12-17. 
  15. ^ "Destination XL reports wider 3Q loss; exits Jared M. operations". Thompson Financial. November 27, 2007. Retrieved 2008-05-13. 

External links[edit]