As a result of the ongoing legal battle between Genesco Inc. and The Finish Line, Inc., Genesco reported financial results for fiscal November in order that those results might be part of the public record and usable as evidence in the case. The company currently estimates that net sales for the fiscal month of November, which ended December 1, 2007, were approximately $130.3 million and that pretax earnings were approximately $1.0 million (including the effect of approximately $2.9 million of expenses related to the Finish Line/UBS litigation).
Same store sales for the company decreased approximately 3.7% in fiscal November compared to the same period in the prior year, with the Journeys Group decreasing approximately 4.2%, the Hat World Group decreasing approximately 3.5%, the Underground Station Group decreasing approximately 5.5%, and the Johnston & Murphy Group increasing approximately 0.7%.
Results for the month are subject to normal quarter end adjustments and are not necessarily indicative of results to be expected for the fiscal quarter or the fiscal year.
Week ended December 8, 2007
Preliminary estimates for the week ended December 8, 2007, indicate that comparable store sales for the company declined approximately 12% compared to the same period in the prior year.
