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Sears Hometown and Outlet sales decline
Sears Hometown and Outlet stores narrowed its loss in the third quarter despite weak sales growth in the appliance and garden categories.
The retailer said same-store sales decreased 1.6% in the third quarter ended Oct. 31. Net sales fell 3.2% to $547.1 million as the company reported a loss of $3.8 million, or 17 cents a share, compared with a loss of $171.2 million, or $7.55 a share, a year earlier.
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Genesco's growth strategy is working
Strong same-store sales in the third quarter did not keep Genesco Inc. from lowering its guidance, as the company takes steps to reduce inventory through promotions and discounts.
The specialty retailer of hats and accessories said that for the third quarter ended Oct. 31, same-store sales increased 7%. Income was $32.9 million, or $1.43 per diluted share, compared to earnings from continuing operations of $28.8 million, or $1.21 per diluted share, for the prior year quarter. Revenue was $774 million from $723 million in the third quarter of fiscal 2015.

