Genesco Updates Fourth Quarter Same Store Sales Guidance
GCO) announced today that same store sales for the quarter-to-date period
ended
segment for the period were as follows:
QTD (Jan. 10, 2009)
Journeys Group -1%
Underground Station Group -12%
Hat World Group -4%
Johnston & Murphy Group -16%
Total Genesco -4%
The Company said that same store sales were stronger during the last three
weeks of the quarter-to-date period than previously in the quarter. If this
trend continues for the balance of the quarter, the Company expects to achieve
the lower end of its previously announced same store sales target range of -1%
to -4% for the quarter.
The Company also said that it is not currently updating its previously
announced fourth quarter earnings expectations. Final fourth quarter earnings
will depend on same store sales for the balance of the quarter and quarter-end
accounting adjustments, among other factors.
Genesco plans to announce its fourth quarter and fiscal year 2009 results
on
Genesco also announced that management will present at the 11th Annual ICR
XChange Conference on
Standard Time)
and may be accessed through the Company’s internet website,
http://www.genesco.com. To listen, please go to the website at least 15
minutes early to register, download and install any necessary software.
Cautionary Note Concerning Forward-Looking Statements
This release contains forward-looking statements, including those
regarding the fourth quarter comparable sales outlook for the Company and all
other statements not addressing solely historical facts or present conditions.
Actual results could vary materially from the expectations reflected in these
statements. A number of factors could cause differences. These include
continuing weakness in the consumer economy, fashion trends that affect the
sales of the Company’s retail product offerings, changes in buying patterns by
significant wholesale customers, disruptions in product supply or
distribution, and competition in the Company’s markets. Additional factors
are cited in the “Risk Factors,” “Legal Proceedings” and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations”
sections of, and elsewhere, in our SEC filings, copies of which may be
obtained from the SEC website, www.sec.gov, or by contacting the investor
relations department of Genesco via our website, www.genesco.com. The Company
notes specifically that there can be no assurance that it will achieve same
store sales increases at the Company average for the three weeks ended
10
determine the outcome of the subject matter of this release are beyond
Genesco’s ability to control or predict. Genesco undertakes no obligation to
release publicly the results of any revisions to these forward looking
statements that may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. Forward-looking
statements reflect the expectations of the Company at the time they are made.
The Company disclaims any obligation to update such statements.
About Genesco Inc.
Genesco Inc., a
headwear and accessories in more than 2,225 retail stores in
and
Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack,
Hat Zone, Head Quarters, Cap Connection and Lids Kids, and on internet
websites www.journeys.com, www.journeyskidz.com, www.shibyjourneys.com,
www.undergroundstation.com, www.johnstonmurphy.com, www.dockersshoes.com,
www.lids.com and www.lidskids.com. The Company also sells footwear at
wholesale under its Johnston & Murphy brand and under the licensed Dockers
brand. Additional information on Genesco and its operating divisions may be
accessed at its website www.genesco.com.
SOURCE Genesco Inc.