Friday, September 2, 2016

Genesco cuts outlook

Changing footwear trends took a bite out of Genesco Inc.’s sales in the second quarter.

The company reported net income of $14.6 million, up from a year-earlier profit of $7.5 million. Genesco’s revenue for the second quarter, ended on July 30, fell 4.6% to a less-than-expected $625.6 million. Total same-store sales fell 1%, with a 4% decline at the Journeys Group. . . . more

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