Destination XL Group, Inc. (DXLG) reported loss for the first quarter on Wednesday, wider than the prior year loss, as sales at the Big + Tall menswear retailer fell.
On the Nasdaq, shares of Destination XL are currently gaining 4.80 percent, changing hands at $0.7262.
Shares of Destination XL rose, despite wider loss, as the company also announced merger update today that its board now believes that the current merger terms with FullBeauty Brands "are not best for DXL stockholders," citing a more challenging consumer environment and FullBeauty's indebtedness.
The quarterly loss was $5.94 million, or $0.11 per share, compared with net loss of $1.94 million, or $0.04 per share, a year earlier.
Adjusted net loss was $3.43 million, or $0.06 per share, versus adjusted net loss of $2.33 million, or $0.04 per share, a year ago.
Adjusted EBITDA loss was $0.7 million compared with positive adjusted EBITDA of $0.2 million in the prior-year quarter.
Sales fell to $103.34 million from $105.53 million a year earlier.
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