Genesco posts fourth quarter sales increase

Worldwide
Published:  23 January, 2019

Comparable sales for the American retailer of branded footwear, including both stores and direct sales, increased +4% for the quarter-to-date period ending January 10, 2019.

Same store sales for Genesco increased +3% and sales for the Company's e-commerce businesses increased +8% on a comparable basis in the period. Retail businesses Journey Group and Schuh Group recorded a +7% and +9% sales increase, respectively, Lids Sports +2% and Johnston & Murphy +5%.

"Overall, we enjoyed a very solid Holiday selling season, with stronger than expected results. Journeys once again delivered stellar results, and the highly promotional UK market continued to negatively impact Schuh's performance”, said Robert J. Dennis, Chairman, President and CEO, Genesco. “We remain comfortable with our previously announced adjusted earnings per share range for the full fiscal year and reiterate expectations that earnings will be near the midpoint.” 

Genesco expects adjusted earnings per diluted share for the fiscal year ending February 2, 2019, in the range of US$3.10 to US$3.40, but these do not reflect the anticipated sale of the Lids Sport Group.