DESTINATION XL GROUP, INC. 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 15, 2012
(Commission File Number)
CASUAL MALE RETAIL GROUP, INC.
(Exact name of registrant as specified in its charter)
555 Turnpike Street, Canton, Massachusetts 02021
(Address of registrants principal executive office)
(Registrants telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
On March 15, 2012, Casual Male Retail Group, Inc. (the Company) issued a press release announcing the Companys sales and results of operations for the fourth quarter and fiscal year 2011. A copy of this press release is attached hereto as Exhibit 99.1.
On March 9, 2012, the Company decided to discontinue its European Direct business including terminating its contract with GSI Commerce, Inc. (GSI), who provides the web store design, order processing, fulfillment and customer call center services for the Companys European web stores. The Companys European operations, which will be reflected as discontinued operations in fiscal 2012, have been unprofitable since inception, with net losses of $2.1 million, $2.0 million, and $1.5 million for the years ended January 28, 2012, January 29, 2011, and January 30, 2010, respectively. The results of operations for its European Direct business will be treated as discontinued operations once the web stores are no longer operating.
The Company expects to incur approximately $1.5 million in termination charges in fiscal 2012.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 15, 2012