Genesco has released another successful earnings report. The holiday shopping season has led the company to report strong results for Q4, including an overall sales increase of 18% year-over-year and a 9% jump from last quarter.Each brand in the company’s portfolio noted a increase from 2021 and 2020 numbers. Journey’s increased 8%, Schuh Group jumped 28%, and Johnston & Murphy Group soared to 53% from last year’s Q4 report.
“We are pleased with our performance this holiday selling season, especially given the supply chain challenges, as strong full-priced selling drove better than expected sales and profitability. While traffic levels have remained healthy thus far in January, our sales trend has moderated as inventory is currently very lean; however, we expect our in-stock positions to improve as the month progresses and feel confident that we will finish the year strong. Therefore, we are reaffirming our total year EPS guidance of $6.40 to $6.90, with our expectation now above the midpoint of the range,” said Mimi E. Vaughn, President and CEO at Genesco.
Source: Genesco – Press Release
Photo Credit: Chain Store Age
