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Article Date: May 2019
Word Count: 688

Journeys Drives Lids-Less Genesco to Q1 Profit

Net income from continuing operations was $6,346,000 in the first quarter against a loss of $2,331,000 last year on sales that gained 2% excluding the divested Lids Sports Group to $495,651,000 from $486,219,000 boosted by a 6% improvement at Journeys. Early delays in tax refunds gave GCO a scare, but the refunds eventually came through, fueling Journey’s top line gains. Comp store sales increased 5% overall, with stores up 4% and direct up 15%. DTC accounted for 11% of total sales in the quarter, an implied $54.5 million, up from 10% last year and flat as a percentage of sales ... Log in to view full article.


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