Genesco Inc. announced that comparable sales, including stores and direct sales, decreased 3 percent for the quarter-to-date period ended December 26, 2020. Same-store sales decreased 14 percent and sales for the company’s e-commerce businesses jumped 49 percent on a comparable basis.
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Genesco’s Q3 Profits Slide
Genesco Inc. reported earnings on an adjusted basis were down 37.6 percent in the third quarter as same-store sales declined 11 percent but results topped Wall Street targets. A 62 percent hike in online sales was unable to offset a same-store decline of 6 percent at Journeys and 43 percent at Johnson & Murphy.
Genesco Appoints Interim CFO
Genesco Inc. announced that Thomas A. George is joining the company as senior vice president, finance and interim chief financial officer, effective December 14, 2020. George succeeds Melvin G. Tucker whose resigned effective November 27.
Genesco Announces Departure Of Chief Financial Officer
Genesco Inc. announced that Melvin G. Tucker, senior vice president and chief financial officer, has resigned his position, effective November 27, 2020.
Genesco Appoints Board Member
Genesco Inc.announced that John F. Lambros has been appointed to its board of directors.
Genesco’s Q2 Revenues Slide 20 Percent
Genesco Inc. reported a second-quarter loss as sales decreased 20 percent. A 144 percent e-commerce growth wasn’t able to offset stores only being open about 70 percent of days in the period. The parent of Journeys, Johnston & Murphy and Schuh, said it was able to generate $74 million of operating cash flow.
Genesco Names New Board Chair
Genesco Inc. announced that Mimi E. Vaughn, the company’s president and chief executive officer, has been named to the additional position of chair of the board of directors, effective July 1, 2020. Vaughn will succeed Robert J. Dennis, implementing the final step of a transition plan that began in 2018.
Genesco’s Q1 Sales Tumble 44 Percent
Genesco Inc., the parent of Journeys, reported a steep loss in the first quarter that included an impairment charge for Schuh. Sales tumbled 44 percent in the first quarter with stores closed starting in mid-March. The loss of sales due to store closures was partly offset by triple-digit e-commerce comp gain for the month of April and 64 percent comp growth for the first quarter.
Genesco Inc. Provides Store Reopening Plan Update
Genesco Inc., the parent of Journeys, provided details on store reopening plans as well as business updates in response to the COVID-19 pandemic.
Genesco Takes Steps In Response To COVID-19
Genesco Inc., the parent of Journeys, announced additional proactive steps in its efforts to significantly reduce expense, capital and inventory levels to mitigate the negative financial and operational impacts of COVID-19 and improve liquidity.
Genesco Warns Of Challenging First Half Due To Weather And Coronavirus
Genesco Inc. reported fourth-quarter earnings that came in well above Wall Street’s target but also indicated that the first quarter has gotten off to a slow start due to unseasonably warm weather impacting boot sales and softening traffic in tourist areas tied to the coronavirus.
Genesco’s Comps Inch Up 1 Percent In Q4
Genesco Inc., the parent of Journeys, reported earnings on an adjusted basis grew 42 percent in the fourth quarter as comp sales rose 1 percent.
Genesco Announces New Corporate Headquarters
Genesco Inc., the parent of Journeys, announced plans for its new corporate headquarters in Nashville, TN.
Genesco Sees Q4 Comps Running Up 2 Percent
Genesco Inc. announced that comparable sales, including both stores and direct sales, increased 2 percent for the quarter-to-date period ended January 9, 2020.
Genesco Closes Acquisition Of Togast, Enters Into Levi’s License Agreement
Genesco Inc. announced Thursday that it has closed the acquisition of the U.S. assets of New York-based Togast LLC, previously announced on December 18, 2019.