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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 …