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EXEC: Genesco Reduces FY Guidance On Inflationary, Promotional Pressures

EXEC: Genesco Reduces FY Guidance On Inflationary, Promotional Pressures

Genesco, Inc.’s sales and margins topped expectations in the third quarter, but its full-year outlook was lowered as heightened promotional activity is now planned for the fourth quarter, particularly at the flagship Journeys chain. Mimi Vaughn, Genesco’s president and CEO, told analysts, "The consumer pressured by inflation is having to make harder choices on where they spend their money."

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