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Five Below’s Q2 sales performance raises questions, but store expansion remains on track
Philadelphia -- Teen and tween fave Five Below Inc. may not be meeting sales projections, but it remains on track for store expansion, with plans to open a total of 70 net new stores during fiscal 2015, including 16 net new stores in the third quarter.
The company, where every item costs no more than $5, is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.
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Caps fit Genesco well in Q2
Nashville, Tenn. – Despite a late back to school season, Genesco Inc.’s profit and revenue beat the Street in the second quarter, helped by the strong performance of its Lids headgear division.
Genesco reported net earnings of $7.52 million, up 60% from $4.69 million the same period a year earlier and beyond Wall Street predictions. Improve pretax earnings, combined with lower income tax expense, perked up profit at Genesco Inc.
Net sales rose 6% to $655.52 million, from $615.47 million.
