Casual Male Retail Group Inc., a Canton-based retailer that sells clothing to big and tall men, said that it plans to change its corporate name to Destination XL Group Inc., effective Feb. 25.
The company has been selling apparel under such store name-plates as Casual Male XL, Rochester Clothing, and B&T Factory Direct. A while back, the company started experimenting with a new store format called Destination XL --- the first DXL store opened in mid 2010 in Schaumberg, Ill. Company officials were so pleased with results that they now believe a corporate name change is in order.
Destination XL stores are larger than Casual Male XL stores. A typical Destination XL store occupies about 8,000 square feet versus 3,400 square feet for Casual Male XL. According to the most recent data, Destination XL customers are spending an average of $142 per visit, compared with an average of $101 per visit by Casual Male XL customers. Eventually, plans call for the Casual Male name to go away.
In December, the company changed its ticker symbol on Nasdaq to DXLG.
“The 49 Destination XL stores currently in operation and our DestinationXL.com website have already proven to be successful, and we are confident that this transformation will accelerate our long-term sales and profitability,” David Levin, president and chief executive, said in a statement.