Genesco Confident Despite Supply Chain Pressure
Genesco believes it can capably navigate supply chain issues for the balance of the year, it told investors at the C.L. King conference, and is ordering above projected sales figures to rebuild inventory. While it has encountered some cancellations year-to-date, product flow was still ample to support last quarter’s 42% top line growth. The sales gains came from faster than expected sell-through at Journeys and the focus now turns to building back adequate stocks. Challenges from Vietnam shutdowns have mostly been seen on the licensed brand side, which accounts of less than 10% of revenue, rather than the retail end, ... Log in to view full article.