Third quarter sales up for Genesco - leatherbiz: Leading news site for Leatherbiz

News

Third quarter sales up for Genesco

30/11/2001
The US footwear producer Genesco Inc. has reported earnings of $8.0 million, or $0.33 per diluted share, for the third quarter ended November 3, 2001 before discontinued operations. That compares with $8.8 million, or $0.36 per diluted share, for the third quarter last year. Net sales for the quarter were up 5.6% to $186.0 million from $176.1 million in the third quarter last year.

Genesco Chairman and Chief Executive Officer Ben Harris said, "Despite the unprecedented circumstances of the last two months, which have adversely affected the general retail environment, we were still able to grow our top line, register a positive same store sales gain and report earnings per share within our previously announced range of guidance."

Earlier this month, the Nashville-based company announced an agreement with the Michigan Department of Environmental Quality to pay a lump sum toward sediment removal in a lake next to the company's former tannery in Whitehall, Michigan. For a contribution of $3.35 million, the company is released from further claims relating to the removal of lake sediments.


Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.