As the second half of the year gets into gear, it is possibly time for investors to take a closer look at some of the stock which have managed to clock considerable gains so far this year.
One of the stock that could be tracked by investors at this point in time is that of Destination XL Group Inc (OTCMKTS:DXLG), which has managed to clock gains of as much as 1250% so far this year. In recent days there has not been much news about the well known omni channel specialty retail company, which is best known for its Big + Tall Men brand of shoes and clothing.
The last major development regarding the company was the announcement of its financial results for the first fiscal quarter of 2021. The total sales recorded for the quarter came in at $111.5 million, which reflected a year on year rise of as much as 94.8%.
However, it should be noted that the figure represents a decline of 1.3% from the $113 million in sales generated in the first quarter of 2021. Free cash flow for the period declined to $7 million from $8.4 million in the prior year period. Destination XL managed to generate net income of $8.7 million and that was a major turnaround from the $41.7 million loss in the prior year period.
Market Reaction:
On Friday, DXLG stock slid 1.6% at $3.66 with more than 166K shares, compared to its average volume of 344k shares. The stock had moved within a range of $3.5600 – 3.8100 after opening the trade at $3.69. Over the past 52-week, the stock has been trading within a range of $0.1900 – 4.1700.
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