Destination XL Group, Inc. (NASDAQ:DXLG) Q3 2024 Earnings Conference Call November 22, 2024 9:00 AM ET

Company Participants

Shelly Mokas - Vice President of Financial Reporting and SEC Compliance
Harvey Kanter - President, Chief Executive Officer and Director
Peter Stratton - Executive Vice President, Chief Financial Officer and Treasurer

Conference Call Participants

Michael Baker - D.A. Davidson

Operator

Good day, everyone, and welcome to the Destination XL Group Third Quarter Fiscal 2024 Financial Results Conference Call. Today's call is being recorded.

At this time, I would like to turn the call over to Ms. Shelly Mokas, Vice President of Financial Reporting and the SEC Compliance at DXL. Please go ahead, Shelly.

Shelly Mokas

Thank you, operator, and good morning, everyone. Thank you for joining us on Destination XL Group's Third Quarter Fiscal 2024 Earnings Call. On our call today are our President and Chief Executive Officer, Harvey Kanter; and our Chief Financial Officer, Peter Stratton.

During today's call, we will discuss some non-GAAP metrics to provide investors with useful information about our financial performance. Please refer to our earnings release, which is filed this morning and is available on our Investor Relations website at investor.dxl.com for an explanation and reconciliation of such measures.

Today's discussion also contains certain forward-looking statements concerning the company's sales and earnings guidance, long-range strategic plan and other expectations for fiscal 2024.

Such forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those assumptions mentioned today due to a variety of factors that affect the company. Information regarding risks and uncertainties is detailed in the company's filings with the Securities and Exchange Commission.

I would now like to turn the call over to our CEO, Harvey Kanter. Harvey?

Harvey Kanter

Thank you, Shelly, and good morning, everyone. I appreciate all of you joining us today. Let me start off by acknowledging that DXL's business continued to be challenged in the third quarter by consumer spending headwinds, which resulted in lower traffic to our stores and lower conversion online.

Despite these challenges, we have maintained our disciplined operating regimen and we have avoided a material erosion in merchandise margin, while keeping our inventory position healthy and controlling our operating expenses. Now with that high level overview as noted, let me set today's more detailed agenda for our review.

There are three topics that I will cover in greater detail. First, I'd like to update you on the current environment and our quarterly results. Second, I want to talk a bit about our expectations for the fourth quarter. And third, I'd like to update you on the progress we're making against our long-term strategic initiatives.