Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 10, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Destination XL Group, Inc. (“Destination XL” or the “Company”) (NASDAQ: DXLG) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Destination XL investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On May 30, 2024, Destination XL issued a press release “report[ing] operating results for the first quarter of fiscal 2024, and updated sales and earnings guidance for the fiscal year.” Among other items, Destination XL reported revenue of $115.5 million, representing a 7.9% year-over-year decline and missing consensus estimates by $2.4 million. Destination XL also stated that “[b]ased on our current sales trends, we are guiding to the low-end of our previous sales guidance, which is $500 million vs. $515.05M consensus (prior $500.0 - $530.0 million), with a mid-single digit decrease in comparable sales.”
On this news, Destination XL’s stock price fell $0.27 per share, or 7.56%, to close at $3.30 per share on May 30, 2024.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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