Search Results for: genesco

Genesco’s Q1 Earnings Miss Plan On Journey’s Shortfall

Genesco, Inc. reported a steeper loss than expected in the first quarter ended April 29 as Journeys same-store sales fell 14 percent, offsetting double-digit gains at Schuh and Johnston & Murphy. Genesco reduced its outlook for the year and is initiating cost-containment initiatives. Genesco now plans to close more than 100 Journeys stores this year, versus prior expectations to close 60 stores. (Read More)

Genesco Posts Flat Q4 Sales On Journeys Dip, FX Impact, Weaker Wholesale Sales

Genesco Posts Flat Q4 Sales On Journeys Dip, FX Impact, Weaker Wholesale Sales

Genesco, Inc. reported earnings on an adjusted basis fell 24.4 percent in the fourth quarter due to the return of a more normalized promotional environment as well as increased freight and warehouse costs. Same-store sales were up 5 percent as double-digit growth at Schuh and Johnson & Murphy offset a 1 percent dip at Journeys. (Read More)

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." (Read More)

EXEC: Shares of Genesco Tumble On Lowered Outlook

EXEC: Shares of Genesco Tumble On Lowered Outlook

Shares of Genesco, Inc. lost about 17 percent of their value on Thursday after the parent of Journeys slashed its outlook for the second half due to a sales slowdown in the latter part of the quarter at the Journeys chain amid inflationary pressures. Mimi Vaughn, Genesco's CEO, told analysts, "We are seeing customers come out and shop when there is a reason to buy and retreat to conserve cash during the in-between period.” (Read More)

Genesco Overcomes Journeys’ Inventory Challenges To Deliver Q1 Beat

Genesco Overcomes Journeys’ Inventory Challenges To Deliver Q1 Beat

Genesco Inc.'s first-quarter earnings came in well above Wall Street estimates as a rebound in its Schuh and branded businesses helped offset inventory shortages faced by its flagship Journeys chain. Mimi Vaughn, Genesco president and CEO, told analysts, “I’ve been describing the current fashion cycle as shifting away from fashion athletics more into casual, which plays into Journeys’ strength." (Read More)

Inside The Call: Genesco’s Q3 Boosted By Strong BTS, In-Store Shopping Bounce-Back

Inside The Call: Genesco’s Q3 Boosted By Strong BTS, In-Store Shopping Bounce-Back

Powered by a robust back-to-school (BTS) season and scant markdowns at its flagship Journeys chain, Genesco Inc. reported third-quarter earnings that came in well ahead of Wall Street’s targets and offered a bullish outlook for the year. Mimi Vaughn, Genesco’s CEO, told analysts, “The current fashion cycle, which I've been describing as shifting more into casual, plays into Journeys strength with a nicely diversified assortment.” (Read More)

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