Genesco narrows loss in Q2, raises full-year outlook
Nashville, Tenn. – Genesco, parent to the Journeys, Lids and Johnston & Murphy banners, reported Wednesday a loss of $392,000 for the quarter ended July 31, compared with a loss of $3.2 million in the year-ago period.
Sales rose 29% to $471 million, from $364 million. Same-store sales surged 14%, with the Lids Sports Group up 12%, the Journeys Group up 15%, the Johnston & Murphy Group up 17%, and the Underground Station Group up 10%.
The company said it is raising its fiscal 2012 guidance, based on the performance.
In June, Genesco acquired British footwear company Schuh Group Ltd. for $113 million to expand its presence in the United Kingdom.