financial
financial

Casual Male's Shares Rose 103% in 2010

Company owes much of its success to its focus on the big and tall market.

financial/news
Appeared In
Special Issue
Men'sWeek issue 01/06/2011

Big and tall specialist Casual Male Retail Group Inc. got only bigger and taller in the eyes of investors last year.

Shares of the Canton, Mass.-based firm shot up 103 percent to $4.74 last year — towering over the S&P Retail Index’s 23.5 percent gain for the year and comfortably ahead of its publicly held men’s wear competitors. The stock has lost some ground in the New Year, but perked up 1.5 percent to $4.63 Wednesday.

Casual Male owes much of its success to its laser focus. The company rang up profits of $10 million on sales of $282.2 million for the first nine months of last year by catering to men who often have trouble finding the right fits — pants start with size 42 waists and tops begin at 1X.

The men’s big and tall market draws sales of $5.5 billion to $6 billion annually, according to Casual Male’s latest annual report. And the company thinks it can move its share of market to 12 percent and beyond from its current perch of 7.7 percent.

Part of its push comes in the form of Destination XL, a new superstore that puts the firm’s namesake, Rochester and Shoes XL concepts under one roof. Four Destination XL stores opened last year and make up the advance guard of what could be 75 to 100 doors by 2015.

If Wall Street likes anything, it’s a growth story.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false