CANTON, Mass., Feb. 29, 2012 /PRNewswire/ -- Casual Male
Retail Group, Inc. (NASDAQ: "CMRG"), the largest retailer of
big & tall men's apparel and accessories, today announced
that its first DestinationXL® store in the Middle East will open this spring in Symphony
Mall, Kuwait City, Kuwait under a franchise agreement between one
of its subsidiaries and The Standard Arabian Business &
Enterprises Company (SABECO). The franchise agreement governs
the operation of the store and provides that within two years of
the store's opening to the public, the Casual Male Retail Group,
Inc. subsidiary has an option to purchase an equity interest in the
store. The DestinationXL store is expected to open April,
2012.
David Levin, President and Chief
Executive Officer, stated, "We are looking forward to the store's
opening and we are excited about the prospects for the
region. We believe that SABECO has the expertise to create a
successful franchise and operate an outstanding DestinationXL store
in the Middle East. We are
confident that the customers will be very pleased with the
selection and variety of clothing the store will offer."
Shaikh Nawaf Mubarak Al Sabah,
Chairman of SABECO, said, "The Middle Eastern consumer has a very
limited selection of big and tall clothing options in our region.
We have a long history of shopping at Casual Male's Rochester
Clothing stores in London and New
York. There is an incredible opportunity to service the
Middle Eastern consumer through the new DestinationXL concept and
having CMRG as our franchisor gives us a great opportunity for a
successful venture."
Casual Male Retail Group, Inc., the largest retailer of big and
tall men's apparel with operations throughout the United States, Canada and Europe, operates 419 CasualMaleXL retail and
outlet stores, 16 DestinationXL stores, 14 Rochester Clothing
stores, and direct-to-consumer businesses which include several
catalogs and e-commerce sites, including www.destinationxl.com. The
Company is headquartered in Canton,
Massachusetts, and its common stock is listed on the NASDAQ
Global Market under the symbol "CMRG."
The Standard Arabian Business & Enterprises Company
(SABECO), founded in 1998 is a leading and innovative trading and
contracting company that has been catering to the various needs of
Kuwait. Through rich and
diversified businesses; Real Estate, Contracting, Retail and Food
& Beverage, SABECO is headquartered in Kuwait City, with different offices and stores
throughout the country.
SOURCE Casual Male Retail Group, Inc.
