Gilford Securities Reiterates Buy Rating on Destination XL Group on Developing Situation

In a report published Monday, Gilford Securities analyst Bernard Sosnick reiterated a Buy rating on Destination XL Group

. In the report, Sosnick noted, “A marginal retailer of men's big and tall apparel may turn into an attractively profitable growth company. This developing situation has above-average risk and significant appreciation potential. The company plans to close its 297 Casual Male stores averaging 3,600 sq. ft. and, in three years, to have 215-230 Destination XL stores of roughly 8,000 sq. ft. Average transactions at 48 existing Destination XL stores are 35%-40% greater than in Casual Male stores.” Destination XL Group closed on Friday at $5.20.