Destination XL Cuts Losses in Quarter as CEO Search Continues

The corporate restructuring instituted earlier this year is starting to pay off for Destination XL Group.
In the third quarter, the men’s big & tall retailer cut its losses and improved its comparable-store sales, prompting it to update its earnings guidance for the fiscal year. But its search for a new chief executive officer continues as the countdown to the departure of current chief David Levin approaches on Dec. 31. In the case that the retailer can’t find a replacement by year-end, Levin will transition to acting ceo from Jan. 1-April 30 for $ 200,000 a month.
The retailer said that it terminated its deal with Heidrick & Struggles International Inc. to lead the search process on Oct. 1 and is now working with Russell Reynolds Associates to lead the process and expects a successor to be named by the end of the first quarter of fiscal 2019.
As reported, Levin is expected to resign as an officer and director of the company on Jan. 1. The company expects to incur an aggregate charge of approximately $ 2.1 million for ceo transition costs in fiscal 2018 and an additional $ 1.6 million in fiscal 2019 and fiscal 2020.
Turning to the third quarter, the retailer cut its

Follow WWD on Twitter or become a fan on Facebook.

Read More…
WWDWWD

BEST DISCOUNT UPDATE:

Merck KGaA Stock Dips On Weak Q3 Profit; Cuts FY18 EBITDA Pre View

Merck KGaA reported Wednesday a sharp decline in its third-quarter profit, while sales increased despite negative currency impacts. Further, the German drugmaker lowered its fiscal 2018 forecast for EBITDA pre, but confirmed organic EBITDA pre view. The company also lifted its organic net sales growth forecast.
RTT – Earnings

BEST DEAL UPDATE:

Tax cuts have been controversial, but voters didn’t seem to care about them

Voters in the midterms felt neither tremendously motivated by the 2017 tax cuts nor had their lives been changed much by them, NBC News exit polls find. 
Economy

ECONOMY NEWS UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Amgen cuts price of cholesterol drug by almost 60%, echoing rival’s move

Biotech giant Amgen is lowering the price of its cholesterol medicine Repatha by almost 60 percent, following a similar move from its competitor, after both drugs failed to meet sales expectations.
Health and Science

U.S.HEALTHCARE UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

UPDATE 1-China’s EV maker Faraday Future plans lay-offs, 20 pct pay cuts

Faraday Future, a start-up
that is developing electric vehicles (EV), said on Tuesday it
planned pay cuts of 20 percent for all staff, in addition to an
unspecified number of lay-offs, in a bid to reduce operational
costs.


Reuters: Company News

SPECIAL DISCOUNT DEAL:

Find the Best Daily Deal in Your Neighborhood

As Trump cuts refugees, Buffalo feels the pinch

Associated Press

SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

CHARITY UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Jacob Cuts It Off with Tasha | Greenleaf | Oprah Winfrey Network

OWN

SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

CHARITY UPDATE :

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!