Citing a rapidly changing consumer environment, Genesco is making numerous changes to its business as it braces for a challenging H1 ahead of an anticipated better H2. The current FY outlook calls for total sales of flat to up 2% and EPS “roughly flat” with the prior 12 months. The Nashville company has a cost-cutting program aimed at reducing expenses by $20 to $25 million this FY with most of the savings positively impacting the Journeys’ P&L.

In Q4, net income dropped by 37% to $38,949,000 from $62,140,000 for the period ended ... Log in to view full article.