Genesco Reports 4Q Results
Nashville, Tenn., Specialty retailer Genesco, Inc., which sells footwear, headwear and accessories primarily under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone and Cap Factory, reported net sales for the 14-week fourth quarter of fiscal 2007 increased 17% to $476.9 million, compared to $406.3 million for the 13-week fourth quarter of fiscal 2006. Excluding the 14th week in fiscal 2007, the sales increase from the comparable 13-week period last year was about 11%.
For the 53-week fiscal year ended Feb. 3, 2007, the company reported earnings before discontinued operations of $68.2 million, compared to $62.6 million for the year prior.
Net sales for the 53-week fiscal year 2007 increased 14% to $1.5 billion, compared to $1.3 billion for the year prior.
By brand, net sales results for the fourth quarter were: Journeys Group increased 22% to about $234 million, with same-store sales rising 6%; Hat World Group sales increased 19% to about $116 million and same-store sales declined 1%; Underground Station Group net sales were $49 million, with same-store sales declining 15%; Johnston & Murphy’s net sales increased 17% to about $57 million.