Friday, September 6, 2019

Genesco’s Q2 earnings crush Street as Journeys continues to gain momentum

Chain Store Age
Footwear retailer Genesco Inc. reported second-quarter earnings and same-store sales that topped Street estimates, fueled by strong back-to-school sales at its teen-fave brand, Journeys.

The company, whose divisions include Journeys, Johnston & Murphy and Schuh, reported net income or $577,000 for the quarter ended Aug. 3, compared to a loss of $15,000 in the year-ago period.

Sales slipped to $486.6 million from $487.0 million, below estimates of $489.2 million. Same-store sales rose 3% ahead of Street expectations. Same-store sales increased 4% at Journeys and 1% at Johnston & Murphy. . . . more