Destination XL Directors Confirmed at Annual Meeting

Destination XL held its Annual Meeting on August 7, 2025, confirming the election of seven directors and approving the compensation of named executive officers through a non-binding advisory vote. The company also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026. The stock has a Hold rating with a $1.30 price target.

Destination XL Group, Inc. (NASDAQ: DXLG), a specialty retailer of men’s big and tall apparel, has seen a series of recent developments that have caught the attention of investors. On August 7, 2025, the company held its Annual Meeting, where seven directors were elected and the compensation of named executive officers was approved through a non-binding advisory vote. The meeting also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026.

One of the notable events preceding the Annual Meeting was the resignation of James Reath, the company’s Chief Marketing Officer, effective Thursday. The resignation was disclosed in a filing with the Securities and Exchange Commission (SEC) [1]. The news comes as DXLG’s stock has declined by over 63% in the past year, with shares currently trading at $1.26. Despite the stock's decline, analysts remain optimistic about the company's prospects, with DA Davidson analyst Michael Baker maintaining a Buy rating but adjusting the price target from $2.50 to $2.00 [1].

In addition to Reath’s resignation, Destination XL Group reported its first-quarter 2025 earnings, missing expectations for both earnings per share and revenue. The company posted an EPS of -$0.04, falling short of the anticipated $0.055, while revenue reached $105.5 million, below the forecasted $116.58 million [1]. Despite the earnings miss, Baker acknowledged the company’s effective management of inventory and costs, as well as strategic initiatives that have started to show slightly positive trends.

The stock is currently rated as a Hold with a $1.30 price target, reflecting the market’s cautious view on the company’s recent performance and potential recovery [1]. Investors are closely monitoring Destination XL Group’s performance and potential recovery, especially given the prolonged weak business performance as customers prioritize other spending in an uncertain market.

References:
[1] https://www.investing.com/news/sec-filings/destination-xl-group-chief-marketing-officer-james-reath-resigns-93CH-4166717