$0.620
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Noticias de DXLG
Eventos de DXLG
Destination XL Board Recommends Shareholders Reject Zodiac Acquisition Offer
Destination XL announced that its board of directors, following a review with external legal and financial advisors, unanimously recommends that stockholders reject the revised, unsolicited tender offer to acquire all outstanding shares of DXL for 84c per share in cash announced by Zodiac Partners on June 23, and not tender their shares. "The DXL Board of Directors remains committed to maximizing stockholder value and acting in the best interests of all DXL stakeholders," said Lionel Conacher, chairman of the board of DXL. "After careful review of Zodiac's revised proposal, the Board unanimously concluded that the modest increase in consideration still undervalues DXL and is not in the best interests of our stockholders. The Board reiterated its belief that Zodiac's repeated offers are highly conditional, opportunistic and seemingly timed to deliberately exploit a period of market dislocation. We therefore recommend that stockholders reject the Revised Offer and do not tender their shares."
Destination XL Responds to Zodiac's $0.84 Acquisition Offer
Destination XL issued the following statement with respect to the revised, unsolicited tender offer to acquire all outstanding shares of Destination XL for 84c per share in cash announced by Zodiac Partners II: "DXL's Board remains committed to maximizing value and will continue taking actions that are in the best interest of all DXL stockholders. The DXL Board of Directors is carefully evaluating the Revised Offer with its independent financial and legal advisors in accordance with its fiduciary duties and will make a recommendation to stockholders in due course. DXL stockholders are advised to take no action at this time pending the Board's review of the Revised Offer. As previously announced on May 26, 2026, DXL's Board thoroughly reviewed and unanimously rejected a prior tender offer from Zodiac at $0.82 per share. With the assistance of external financial and legal advisors, the Board determined the highly conditional and opportunistic proposal did not reflect the Company's underlying value, was seemingly timed to deliberately exploit a period of market dislocation and was not in the best interest of DXL stockholders. DXL will advise stockholders of the Board's position regarding the Revised Offer in due course by filing an amendment to its previously filed Solicitation/Recommendation Statement on Schedule 14D-9 with the U.S. Securities and Exchange Commission, which will also be published on DXL's investor relations website at investor.dxl.com."
Stock Futures Slightly Lower as Investors Digest Employment Data
Stock futures are slightly lower while investors digest stronger-than-expected employment data and wait for Friday's official nonfarm payrolls report. According to ADP, private-sector employers added 122,000 jobs in May, above the consensus forecast of 118,000 and up from the prior month's reading. Enthusiasm surrounding data-center spending, cloud infrastructure, semiconductors, and power-demand beneficiaries continues to support the broader indexes. However, investors have become increasingly selective, rewarding companies that can demonstrate tangible AI-related revenue growth while showing less patience for firms that are merely associated with the theme.Treasury yields are relatively stable. The 10-year Treasury yield remains elevated by recent standards, but the market has seemingly become more comfortable with the idea that rates may stay higher for longer.In pre-market trading, S&P 500 futures fell 0.22%, Nasdaq futures rose 0.04% and Dow futures fell 0.46%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Aurinia Pharmaceuticalsup 3% after disclosing the purchase of 206,005 shares by director Kevin TangUP AFTER EARNINGS -GameStopup 11%Destination XLup 6%Ollie's Bargain Outletup 5%Medtronicup 4%Macy'sup 2%DOWN AFTER EARNINGS -GitLabdown 6%Ulta Beautydown 3%Palo Alto Networksdown 2%LOWER -Circle Internetdown 2% afterthat Coinbaseis exploring participation in a new stablecoin platform
Destination XL Reevaluates Merger with FullBeauty
Destination XL announced that its board of directors has reevaluated the previously announced merger of equals between DXL and FBB Holdings I, or FullBeauty, and is engaging with FullBeauty in constructive discussions to determine the best path forward. The DXL board, with the assistance of external financial and legal advisors, has conducted a reevaluation of the merger. The board continues to believe in the industrial logic of the combination. However, given the increasingly challenging consumer environment since the execution of the merger agreement in December 2025 and FullBeauty's indebtedness, the Board believes that the existing terms of the merger agreement are not in the best interests of DXL stockholders. "The DXL Board of Directors is committed to creating stockholder value and taking actions that are in the best interests of DXL and its stockholders," said Lionel Conacher, chairman of the board of DXL. "Our objective is to determine the path forward that best positions DXL and its stockholders for future success."
DXL Q1 Revenue at $103.34M, Below Consensus
Reports Q1 revenue $103.34M, consensus $105.81M. "We are encouraged by our first quarter results, which reflect an improving sales performance and continued progress toward our strategic priorities. While comparable sales declined 3.8%, we saw positive momentum in key areas of the business, including higher conversion rates and increased average order value across both stores and online. We believe these trends reinforce that the adjustments we are making to our merchandise assortment, promotional strategy, and customer experience are aligning better with today's value-conscious consumer. We will continue to navigate the challenging environment, building on the strength of our offering and assortment and the trust our customers place in the DXL brand," said Harvey Kanter, president and CEO.
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