Coliseum Takes 5% Stake in Casual Male Retail Group (CMRG)

According to a 13G filed with the SEC, Coliseum Capital Management has acquired a total of nearly 2.5 million shares of Casual Male Retail Group, Inc. (NASDAQ:CMRG). According to our database of 13F filings, Coliseum had owned 2.4 million shares of the specialty mens’ retailer at the end of September (see more stocks that Coliseum owned). Coliseum is managed by Christopher Shackelton, who had previously worked at Watershed Asset Management, and Adam Gray. At a market cap of about $185 million, Casual Male trades at 17 times forward earnings estimates. The company reported flat revenue in its most recent fiscal quarter (which ended in October) compared to the same period in the last fiscal year.

According to Yahoo Finance, Casual Male Retail Group, Inc., together with its subsidiaries, operates as a specialty retailer of big and tall men’s apparel in the United States, Canada, and Europe. The company operates its stores under the Casual MaleXL, Casual MaleXL Outlets, DestinationXL, Rochester Clothing, B&T Factory Direct, ShoesXL, and LivingXL names. Its stores offer sportswear, dress clothing, footwear, suits, loungewear, neckwear, and accessories; basic items, including jeans, casual slacks, tee-shirts, polo shirts, dress shirts, and suit separates; and lifestyle products, such as chairs, outdoor accessories, travel accessories, bed and bath products, and fitness equipment, as well as a line of its private label collections, such as Harbor Bay, Gold Series, Synrgy, Oak Hill, and True Nation. As of May 18, 2012, the company operated 410 CasualMaleXL retail and outlet stores, 23 DestinationXL stores, and 13 Rochester Clothing stores. Casual Male Retail Group, Inc. also provides its products and services through Websites comprising destinationxl.com, casualmalexl.com, rochesterclothing.com, btdirect.com, livingxl.com, and shoesxl.com; and catalogs.

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