×
148
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Application Security Architecture Consultant, India - Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
TLM CONSULTANCY
Merchandising Assistant
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
PR Assistant
Internship · MUMBAI
NIKE
Senior Dev Ops Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
OUTHOUSE JEWELLERY
Communication Designer
Permanent · MUMBAI
OUTHOUSE JEWELLERY
Store Manager
Permanent · NEW DELHI
NIKE
Senior Sap Application Engineer- Sec Tech, Icc - India
Permanent · Bengaluru
MAC
Make up Artist - Mac - Nykaa Pacific Rajori
Permanent · Delhi
Published
Aug 31, 2017
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Genesco reduces full year outlook following slow second quarter performance

Published
Aug 31, 2017

Genesco on Thursday reported a 1.4% decrease in second quarter sales to $617 million from $626 million, and consolidated second quarter 2018 comparable sales, which includes same-*store sales and comparable e-commerce and catalog sales, were flat.


Journeys, one of the brands under Genesco - Journeys

 
"The second quarter was a bit more challenging than we expected, as positive momentum at Journeys was offset by increasing headwinds at Lids,” said Chairman, President and CEO Robert J. Dennis.
 
Journeys comparable sales increased 1% and Schuh Group sales increased 3%, but were offset by a 2% decrease in comparable sales for Lids Sports Group and a 1% decrease for Johnston & Murphy. E-commerce performed the best for the company, increasing 30%, and offset the 2% decrease in same-store sales.

Genesco also reported a loss from continuing operations of $3.9 million, compared to earnings of $14.5 million, or $0.72 per diluted share, in the prior year.

Dennis added, “As a result of the overall flat comp and these factors, combined with gross margin headwinds, primarily from higher e-commerce sales, product mix shifts, and increased promotional activity, earnings were considerably lower than last year and slightly below our internal forecasts.”
 
Following the second quarter performance, Genesco updated its fiscal year 2018 results and now expects adjusted diluted EPS to be in range of $3.35 and $3.65, compared to the previously issued guidance of $3.90 to $4.05.
 
“We have adopted a more conservative outlook for store-based sales given the anemic level of mall traffic year-to-date and the more pronounced shift in consumer spending away from stores to online,” said Dennis.

Copyright © 2021 FashionNetwork.com All rights reserved.