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Study: Father’s Day sales up 2% in 2013
Thanks to a rebounding economy, dads this year stand to get more than just a boring tie, a pair of socks or a pat on the back for Father's Day.
According to industry research firm IBISWorld, Father's Day sales are expected to total $13 billion this year, a 2% increase from 2012. Traditional Father’s Day gifts, such as automotive accessories and clothing, will take a backseat to gift choices reflecting economic recovery, like home-improvement tools. This increase is mainly due to the overall rise in consumer spending during the past year.
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Genesco earnings, sales drop
NASHVILLE, Tenn. — Genesco, a specialty footwear and apparel retailer operating numerous brick-and-mortar and online retail brands including Journeys and Lids.com, reported declines in earnings and net sales for the first quarter of fiscal 2014.
The company’s earnings declined 11% to $18.5 million from $20.8.
Net sales decreased 1.5% to $591 million from $600 million. Same-store sales fell 4%. Earnings remained slightly ahead of the company’s expectations.