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Caps fit Genesco well in Q2
Nashville, Tenn. – Despite a late back to school season, Genesco Inc.’s profit and revenue beat the Street in the second quarter, helped by the strong performance of its Lids headgear division.
Genesco reported net earnings of $7.52 million, up 60% from $4.69 million the same period a year earlier and beyond Wall Street predictions. Improve pretax earnings, combined with lower income tax expense, perked up profit at Genesco Inc.
Net sales rose 6% to $655.52 million, from $615.47 million.
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Sears Canada swings to profit on real estate deals
Toronto – Real estate transactions helped Sears Canada swing to a profit in the second quarter even as revenue and same-store sales decreased.
The retailer on Wednesday reported net earnings of $13.5 million, compared to a net loss of $21.3 million the same quarter a year earlier. The company, which has been working to turn around its business, also announced additional cost-cutting plans and real-estate sales.
