CANTON, Mass., May  26, 2026  (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (&#34;DXL&#34;) (NASDAQ:DXLG), the leading integrated commerce retailer of Big + Tall men&#39;s clothing and shoes, today announced that its Board of

DXLG

Destination XL Group, Inc. Recommends DXL Shareholders Reject Zodiac Partners II's Tender Offer And NOT Tender Their Shares

DXL Board Rejects Zodiac Tender; Q1 Results Delayed to June 3

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 <h3>Information</h3>
 CANTON, Mass., May 26, 2026 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (&amp;#34;DXL&amp;#34;) (NASDAQ:DXLG), the leading integrated commerce retailer of Big + Tall men&amp;#39;s clothing and shoes, today announced that its Board of
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 <h3>AI Summary</h3>
 Destination XL Group’s board unanimously recommended rejecting Zodiac Partners II&#039;s $0.82 per share tender offer, calling it mispriced and opportunistic. The company also moved its fiscal Q1 2026 results to June 3 before the market opens, with a 9:00 a.m. ET conference call to discuss. This signals a focus on value preservation and potential strategic options, keeping DXLG shares sensitive to ongoing M&amp;A developments and earnings outlook.
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 <h3>Key Points</h3>
 <ul><li>DXL board urges shareholders to reject Zodiac&#039;s $0.82 tender offer.</li><li>Offer deemed underpriced and opportunistic amid market dislocation.</li><li>Q1 2026 earnings delayed; now scheduled for June 3 before market open.</li><li>Board filed Schedule 14D-9 with the SEC; earnings call at 9:00 ET.</li><li>Zodiac tender offer launched May 12, 2026 and is being reviewed.</li></ul>
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 <section data-block="companies-mentioned">
 <h3>Companies Mentioned</h3>
 <ul><li>Destination XL Group, Inc. (DXLG): Board recommendation to reject Zodiac’s offer; potential for value-preserving strategies and optional actions.</li><li>Zodiac Partners II, LLC (Unknown): Offeror; low-price tender and opportunistic timing cited as primary concerns.</li><li>Guggenheim Securities, LLC (N/A): Financial advisor to DXL; involved in evaluating the offer.</li><li>Greenberg Traurig, LLP (N/A): Legal advisor to DXL on tender offer and Schedule 14D-9.</li><li>Joele Frank, Wilkinson Brimmer Katcher (N/A): Strategic communications advisor to DXL.</li></ul>
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 <h3>M&amp;A</h3>
 Category: M&amp;A. The article centers on a tender offer and board response, a classic M&amp;A corporate development event with potential implications for DXLG’s strategic options and valuation.
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 <h3>Market-Moving</h3>
 <ul><li>Zodiac&#039;s $0.82 bid is a key price-discovery event for DXLG.</li><li>DXLG reschedules Q1 earnings to June 3, adding near-term volatility.</li><li>SEC Schedule 14D-9 filing increases visibility on potential actions.</li><li>Board&#039;s rejection reduces near-term downside risk from a low bid.</li></ul>
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 <section data-block="key-facts">
 <h3>Key Facts</h3>
 <ul><li>Zodiac Partners II launched a tender offer for $0.82 per share.</li><li>Offer launched on May 12, 2026.</li><li>DXL board unanimously recommended rejection on May 26, 2026.</li><li>Q1 2026 earnings moved to June 3, 2026, before market open.</li><li>Conference call scheduled for 9:00 a.m. ET on June 3, 2026.</li></ul>
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 <section data-block="trading-thesis">
 <h3>Trading Thesis</h3>
 DXLG likely trades sideways near-term until June 3 earnings; rejection supports fundamental value.
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link>CANTON, Mass., May 26, 2026 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. ("DXL") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DXLG">DXLG</a>), the leading integrated commerce retailer of Big + Tall men's clothing and shoes, today announced that its Board of Directors, following a review with external legal and financial advisors, unanimously recommends that shareholders reject the tender offer (the "Offer") launched by Zodiac Partners II, LLC ("Zodiac") on May 12, 2026 for $0.82 per share and not tender any shares. "The DXL Board of Directors is committed to maximizing shareholder value and taking actions that are in the best interest of the Company and its shareholders," said Lionel Conacher, Chairman of the Board of DXL. "In that light, the Board conducted a thorough review of Zodiac&#39;s tender offer and determined that it does not reflect the Company's underlying value. The Offer is also highly conditional and opportunistic, seemingly timed to deliberately exploit a period of market dislocation. We therefore recommend shareholders reject the Offer and not tender their shares." The DXL Board issued its formal recommendation with respect to Zodiac's Offer in a Solicitation/Recommendation Statement on Schedule 14D-9 filed today with the U.S. Securities and Exchange Commission ("SEC"). Rescheduling Earnings for June 3rd In light of the time and resources required for management and the Board to review the tender offer, the Company needs more time to complete its fiscal first quarter earnings results. As a result, the Company is rescheduling its previously announced first quarter of fiscal 2026 financial results and will now release results before the market opens on Wednesday, June 3, 2026. President and Chief Executive Officer Harvey Kanter and Executive Vice President, Chief Financial Officer and Treasurer Peter Stratton will host a conference call the same morning at 9:00 a.m. ET to discuss the results. Participants can join by conference call or webcast. Conference Call To participate in the conference call, please pre-register at: <a href="https://www.globenewswire.com/Tracker?data=oVLN4GVhOfzTKxcwQHrHFDsJeC4S07cFNLMWYbRhnaR-DxYQ-sVXjqmOl1fxT4vMcsFwuwML5AfoTnZgIwiIv2hA1jgV48mb41Ne_-gaTcKCrrZ5oKpYhQO4CC0m1AaA_8LwEJV1AG9X5iOrp8AIoyWm0Vm_jxvv_hgb5HeDz6gSKjnUQqjdknf6SCThR61ZDDzoYGpjI7BfrV4B-X8gaR9xLUWLq6zJM5-hBlCPGXdcLL71gHhfzq9BXGMHtUAa" rel="nofollow" target="_blank">https://register-conf.media-server.com/register/BI5ae665897d864e8da0f0d4edcae59a76</a>. Upon registering, you will receive a dial-in number and unique PIN. Webcast To listen to the webcast, please join and register at: <a href="https://www.globenewswire.com/Tracker?data=oVLN4GVhOfzTKxcwQHrHFBD_P-1VVoeT_h9jErufCH4CK90doW6tbBREZyJG8AO6shj2A661gtzAD5z0VMx9Y5CVnamNVcImHiR2rV99ZFMpGiziY_D_D2gqoHCuynFmqpfdWzK33ff6SqiWnFo_guy0_9WRCoCNUJF2_I_CEYo=" rel="nofollow" target="_blank">https://edge.media-server.com/mmc/p/m5iyuyet</a>. A replay of the event will be available at the above webcast link or in the "Events" section of the Company&#39;s website at <a href="https://www.globenewswire.com/Tracker?data=oVLN4GVhOfzTKxcwQHrHFMi95IGpSnGRrec8xh5x0etcHtW2aQJWqDRZw-2VJ1eV0eXfKCRGFp-m9UPw9bYz7q1uPFMlLTI-2WU5XonJffE=" rel="nofollow" target="_blank">https://investor.dxl.com</a>. Advisors Guggenheim Securities, LLC is acting as financial advisor to DXL, Greenberg Traurig, LLP is acting as its legal advisor and Joele Frank, Wilkinson Brimmer Katcher is serving as its strategic communications advisor. About Destination XL Group, Inc. Destination XL Group, Inc. is the leading retailer of Men's Big + Tall apparel that provides the Big + Tall man the freedom to choose his own style. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores throughout the United States, and an e-commerce website, DXL.COM, and mobile app, which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online products available anywhere for Big + Tall men. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG." For more information, please visit the Company&#39;s investor relations website: <a href="https://www.globenewswire.com/Tracker?data=oVLN4GVhOfzTKxcwQHrHFMi95IGpSnGRrec8xh5x0ethpNe4oqMo3opho09ImbF4rB7pyvlOeRu_QeDQ6kVtZ37eMdCt8Z5Ob4jFgIpEOUw=" rel="nofollow" target="_blank">https://investor.dxl.com</a>. Investor Contact: <a href="https://www.globenewswire.com/Tracker?data=BtyNSl9Ft3f7S7Vfv87-pnfy8g67UX5G8IPWm7bdIkoCGQKw7K140lubxyCRPlGEfqYjFiqIn3TfQCG9B5OpLIh5ZBA8lLyPKNarsWMn-XhtM8hXXrXsfYvZ1V6FY9fM" rel="nofollow" target="_blank">Investor.relations@dxlg.com</a> 603-933-0541 Important Information about the Zodiac Tender Offer and Where to Find It DXL intends to file a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer with the Securities and Exchange Commission (the "SEC") within 10 business days of the commencement of the Zodiac tender offer. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER. Investors and security holders may obtain free copies of the solicitation/recommendation statement (when available) as well as other filings by DXL, without charge, at the SEC's website, <a href="https://www.globenewswire.com/Tracker?data=ZxfB1BwXH9K2vNpu9gCO-9Qg4bXzl9JhXt7dIUKOf42Z3aYkc__E6IXrH3zGHeU-aOg6Pg6GYVuh_5yJqiguwQ==" rel="nofollow" target="_blank">http://www.sec.gov</a>, or by accessing DXL's website at investor.dxl.com. In addition, documents filed with the SEC by DXL will be available free of charge by writing to DXL at 555 Turnpike Street, Canton, Massachusetts 02021, Attention: Corporate Secretary. Forward-Looking Statements In addition to historical information, this document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, including statements regarding the DXL Board of Director's commitment to maximizing shareholder value and taking actions that are in the best interest of the Company and its shareholders, are based on current expectations, estimates and beliefs of DXL management. Words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks" and variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. With respect to any such forward-looking statements, DXL claims the protection provided for in the Private Securities Litigation Reform Act of 1995. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. These forward-looking statements could be affected by factors including, without limitation, the risks and factors detailed in reports filed with the SEC by DXL from time to time, including those discussed under the heading "Risk Factors" in DXL's most recently filed Annual Report on Form 10-K. These documents are available through our website or through the SEC's Electronic Data Gathering and Analysis Retrieval (EDGAR) system at <a href="http://www.sec.gov" title="http://www.sec.gov">http://www.sec.gov</a>. Neither DXL undertakes any duty to update any forward-looking statements contained herein, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements. <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcyNjgzMyM3NjIxOTA1IzIwMDczMjk="></img> <img alt="" src="https://ml.globenewswire.com/media/ODdhOGY2NWMtNTJjOS00YTFlLTlhODgtMjFhMjNiY2M4MTM2LTEwMTg5MDItMjAyNi0wNS0yNi1lbg==/tiny/Destination-XL-Group-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/6ecdc08b-a991-4864-bec7-55382a7936d8"><img src="https://ml.globenewswire.com/media/6ecdc08b-a991-4864-bec7-55382a7936d8/small/dxl-b-t-2020-jpg.jpg" border="0" width="150" height="84" alt="Primary Logo"></img></a>

Destination XL Group’s board unanimously recommended rejecting Zodiac Partners II's $0.82 per share tender offer, calling it mispriced and opportunistic. The company also moved its fiscal Q1 2026 results to June 3 before the market opens, with a 9:00 a.m. ET conference call to discuss. This signals a focus on value preservation and potential strategic options, keeping DXLG shares sensitive to ongoing M&A developments and earnings outlook.

Destination XL Group, Inc. Recommends DXL Shareholders Reject Zodiac Partners II's Tender Offer And NOT Tender Their Shares

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

M&A

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