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Barnes & Noble thinking beyond books
Barnes & Noble’s new CEO Ron Boire, who took the reins of the company in September, wants to transform the chain into a “lifestyle brand” by expanding its selection of toys, games, gadgets and other gifts, according to a report in The New York Times.
The newspaper quoted Boire as saying that “Everything we do around learning, personal growth and development fits our brand. There’s a lot of opportunity.”
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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.