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Genesco Q2 profit up, raises full-year outlook
Nashville, Tenn. -- Genesco Inc.'s profit topped estimates for the eighth quarter in a row amid increased store traffic. The company raised its full-year earnings outlook for the second time this year.
Genesco, which operates stores under such banners as Journeys, Lids, Johnston & Murphy and Schuh banners, said its adjusted quarterly profit rose to $12.1 million from $5.2 million in the year-ago period.
Revenue rose 15% to $543.5 million.Same-store sales were up 4%.
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Former Procter & Gamble exec named Ralph Lauren CFO
NEW YORK — Ralph Lauren has named Christopher Peterson as SVP and CFO. Peterson will assume his new role effective Sept. 24, and his areas of responsibility will include the company’s global finance and information technology organizations. He will report to Roger Farah, president and COO.