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Genesco to Acquire Little Burgundy Chain From Aldo Group

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Nashville, TN–Genesco Inc.announced today that its Canadian subsidiary has entered into an agreement with the Aldo Group Inc. to acquire the 37-store Little Burgundy retail footwear chain in Canada.  The transaction is subject to customary closing conditions.  Terms of the transaction were not disclosed. Based in Montreal, Little Burgundy serves …

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Despite Q4 Sales Gain, Genesco’s Profit Squeezed by Margin Pressure

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

Nashville, TN—Despite strong fourth quarter sales, Genesco Inc. said Thursday that its profit was hampered by “gross margin pressure, lower than planned contribution from new stores and acquisitions in the Lids Sports Group and unfavorable trends in foreign exchange rates.” For the three months ended Jan 31, Genesco posted net …

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Genesco Narrows Q2 Loss, Lifts Full Year Forecast on Improved Sales

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Nashville–Genesco, Inc., which operates Journey, Lids and Underground Station, reported Wednesday a narrowed second quarter loss, reflecting strong revenue growth and an increase in comparable store sales. For the quarter ended July 30, the retailer of branded footwear and apparel said its net loss narrowed to $392,000 or 2 cents …