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Caruso signs first U.S. lease in Manhattan
New York — Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, has leased a multi-level space at 45 East 58th Street in the Plaza District in Manhattan, to Caruso, the exclusive Italian menswear label.
The new location will be Caruso’s first in the United States. It will be the brand’s New York flagship and showroom.
Formerly the Spanierman Gallery, the unusually large space encompasses more than 11,000 sq. ft. on two levels.
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Genesco net earnings slip in Q1
Nashville, Tenn. – Genesco Inc. reported net earnings of $13.97 million in the first quarter of fiscal 2015, down 3% from $14.41 million in the same quarter of the prior fiscal year. A jump in selling and administrative expenses drove the net earnings decline.
Meanwhile, net sales rose 6% to $629 million, from $591 million. Same-store sales grew 1%. Genesco expects a low-single-digit same-store sales increase for the full fiscal year.