"We experienced a negative traffic trend during the fourth quarter as a result of the sluggish economy and the unseasonable winter weather," said
For the fourth quarter and fiscal year 2011, the Company expects that comparable sales for the Company increased 0.8% and 2.1%, respectively, as compared to the comparable prior year period. As a result, sales for fiscal 2011 will approximate
For the fourth quarter of fiscal 2011, comparable sales from the Company's 16 DestinationXL® ("DXL®") stores increased 9.0% as compared to the prior year's fourth quarter. For fiscal 2012, the Company plans to open 35-40 additional DXL stores, resulting in approximately 51-56 DXL stores operating at the end of fiscal 2012, with at least one store located in most of the major metropolitan cities across
The Company plans to report its fourth quarter and fiscal 2011 financial results on
Certain information contained in this press release, including the Company's expectations regarding the fourth quarter and fiscal 2011, as well as the Company's expectations regarding store openings and closing during fiscal 2012, constitutes forward-looking statements under the federal securities laws. The discussion of forward-looking information requires management of the Company to make certain estimates and assumptions regarding the Company's strategic direction and the effect of such plans on the Company's financial results. The Company's actual results and the implementation of its plans and operations may differ materially from forward-looking statements made by the Company. These factors include, without limitation, the following: the risk that additional information may arise during the Company's close process or as a result of subsequent events that would require the
Company to make adjustments to the financial information; the risk that adjustments to the Company's financial statements may be identified through the course of the Company's independent registered public accounting firm completing its integrated audit of the Company's financial statements and financial controls; and the risk that the Company will be unsuccessful in implementing its strategic plans with respect to store openings and closings in fiscal 2012. The Company also encourages readers of forward-looking information concerning the Company to refer to its prior filings with the
Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company undertakes no obligation and expressly disclaims any duty to update such statements.
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