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Article Date: March 2022
Word Count: 710

Genesco Guides for 2022 Growth


Net income slipped 31% in Q4 to $62,140,000 from $89,918,000, despite 14% higher sales of $727,660,000, up from $636,801,000, that included 2% growth at Journeys along with a recovery at Schuh and Johnston & Murphy. Overall, same store sales were up 10% against a 10% decline prior, while e-commerce dropped 12%, lapping last year’s 55% jump. Digital accounted for $146 million, or 22% of total sales, down from $166 million and 27% penetration the year before. Excluding impairments, Covid relief, a loss on the sale of a warehouse, and other items, adjusted net income was $49.1 million in the quarter, ... Log in to view full article.

 


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