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Article Date: March 2017
Word Count: 672

Genesco Net Dips In Q4, Sets Sights on New Five Year Plan


Net income was $46,548,000, up 4% against $44,664,000, for the fourth quarter ended Jan. 28 with sales falling 5% to $883,169,000 from $932,214,000 as improved profit performances at Lids and Schuh helped offset weakness at Journeys. Comps were flat overall with Journeys down 6%, Lids up 8%, Schuh up 2% and Johnston & Murphy down 1%. For the FY, net was up 3% to $97,431,000 against $94,569,000 on a 5% sales decline to $2,868,341,000 compared to $3,022,234,000.

 

Like many other retailers, GCO is downsizing its ambitions as the current shift in retailing continues to make the future of mall-based retailing uncertain, ... Log in to view full article.

 


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