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Genesco announces Q2 results
24 Aug '05
3 min read
The new stores - both mall and non-mall locations-continue to perform well, highlighting Hat World's significant growth prospects.
Comparable store sales for Underground Station increased 12 percent, driven by continued increases in average selling price and unit comps. Net sales for the Underground Station Group, which includes Jarman, increased 13 percent to $32 million and comparable store sales rose 9 percent. Comparable store sales at Jarman were up 1 percent. They remain focused on improving their platform and expanding Underground Station's leadership position in the mall.
Genesco also stated that it is revising its fiscal 2006 guidance upward. The Company now expects sales for the year to be approximately $1.28 billion and earnings per share to range from $2.28 to $2.30, including a previously announced charge of approximately $0.06 per share associated with the settlement of a class action lawsuit.
Pennington concluded, "During the first six months of fiscal 2006 their entire organization performed at a very high level and their strong financial results and growing industry presence reflect tremendous effort. While they are proud of their recent accomplishments, sights are set on the future and we continue to push ourselves to improve their operations and increase shareholder value."
The Company's live conference call on August 24, 2005, at 7:30 a.m. (Central time) may be accessed through the Company's internet website.
US based specialty fashion footwear retailer Genesco Inc also sells headwear & accessories in more than 1,600 retail stores in the United States and Canada, principally under the names Journeys, Journeys Kidz, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Zone, Cap Factory, Head Quarters and Cap Connection. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand.
Comparable store sales for Underground Station increased 12 percent, driven by continued increases in average selling price and unit comps. Net sales for the Underground Station Group, which includes Jarman, increased 13 percent to $32 million and comparable store sales rose 9 percent. Comparable store sales at Jarman were up 1 percent. They remain focused on improving their platform and expanding Underground Station's leadership position in the mall.
Genesco also stated that it is revising its fiscal 2006 guidance upward. The Company now expects sales for the year to be approximately $1.28 billion and earnings per share to range from $2.28 to $2.30, including a previously announced charge of approximately $0.06 per share associated with the settlement of a class action lawsuit.
Pennington concluded, "During the first six months of fiscal 2006 their entire organization performed at a very high level and their strong financial results and growing industry presence reflect tremendous effort. While they are proud of their recent accomplishments, sights are set on the future and we continue to push ourselves to improve their operations and increase shareholder value."
The Company's live conference call on August 24, 2005, at 7:30 a.m. (Central time) may be accessed through the Company's internet website.
US based specialty fashion footwear retailer Genesco Inc also sells headwear & accessories in more than 1,600 retail stores in the United States and Canada, principally under the names Journeys, Journeys Kidz, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Zone, Cap Factory, Head Quarters and Cap Connection. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand.
Genesco Inc
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