Casual Male reports Q4 profit, readies new concept
Canton, Mass. Casual Male Retail Group reported a profit increase in the fourth quarter as it cut costs to compensate for sales being weak. The company also said it had a successful trial-store concept, called Destination XL, featuring extra-large sized items, which it plans to roll out in five locations this year.
Casual Male's profit for the three months that ended Jan. 30 was $3.6 million, compared with a loss of $108 million a year earlier.
Revenue fell 10% to $110.7 million from $123.1 million a year ago.
For the year, Casual Male earned $6.1 million, compared with a loss of $109.3 million in fiscal 2008. But its revenue fell 11% to $395.2 million, from $444.2 million in fiscal 2008.