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Article Date: December 2018
Word Count: 678

Journeys, J&M Drive Q3 Profits for Genesco

Net income was $14,387,000 for the third quarter ended Nov. 3, lapping a $164,821,000 loss last year that included a $182.2 million goodwill impairment, as sales slipped 1% to $713,069,000 from $716,759,000 hurt by the retail calendar shift. Missing a week of Back-to-School sales this year cost the top line about $20 million. Excluding the impairment and other one-time charges, adjusted earnings were $18,663,000 against $19,701,000 last year. Total blended comp sales were up 4% compared to +1% last year, with brick-and-mortar comps +4% against -2% and direct comps +9% down from +24% last year. DTC sales were 10.6% of ... Log in to view full article.


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