Clothing and footwear maker Genesco Inc yesterday lowered its second-quarter and fiscal 2003 earnings guidance citing slow business at its Journeys operations.

The company said it expects earnings for the period ending 3 August to be around 18-19 cents a share, down from previous expectations of 22-24 cents per share.

Genesco expects second-quarter sales to be between $174-176 million, compared with year-ago second quarter sales of $166.5 million.

"We were tracking our previously announced guidance until our Journeys business slowed last week," said president and chief executive Hal Pennington. "The last two weeks of July historically account for approximately 20-25 per cent of Journeys' sales for the quarter."