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Genesco Q4 income beats expectations
Nashville, Tenn. -- Footwear retailer Genesco Inc. said its fourth-quarter net income from continuing operations rose to $41.5 million from $31.4 million a year ago. Its results easily topped Wall Street expectations.
Revenue in the quarter rose 29% to $723 million. Same-store sales increased 12%. By brand, same-store sales were up 13% at Lids Sports Group and 14% at the Journeys Group. Johnston & Murphy Retail’s sales increased by 8%, and Underground Station decreased by 4%.
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Foot Locker Q4 profit jumps 42% amid cost cutting and higher sales
New York City -- Foot Locker Inc. said that its fourth-quarter profit increased 42% amid higher sales and cost cuts.
The company earned a better-than-expected $81 million in the three months that ended Jan. 28, up from $57 million in the year-ago period.
Revenue increased 8% to $1.5 billion, from $1.39 billion. Same-store sales were up 7.5% in quarter.