USA: Genesco Reveals £2.2m Profit Stumble
Footwear firm Genesco Inc on Wednesday posted a sharp fall in second quarter net income to $4 million from $6.2m in the year-ago period despite a five per cent rise in net sales to $175m. The Tennessee-based company, whose shoes are sold in more than 960 retail stores under the names Journeys, Journeys Kidz, Johnston & Murphy, Jarman and Underground Station, said its results had been affected by a "challenging retail environment".
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