Net income soared 153% in the fourth quarter to $89,918,000 from $35,562,000 on 6% lower revenues of $636,801,000 down from $677,579,000 helped by nearly flat sales at Journeys while Schuh and Johnston & Murphy continued to struggle. Comparable sales were up 1% overall, including 55% e-commerce growth that more than offset a 10% negative brick-and-mortar comp. Stores were open for about 90% of usual days in the quarter due to the virus’ resurgence.
GCO did not offer any formal guidance for 2021, but noted that Feb. extended positive momentum from Jan. and sales ticked up in Mar. as delayed tax refunds ... Log in to view full article.