"Second quarter sales of Licensed Brands rose 16 percent to $16 million and operating income was up 31 percent to 8 percent of sales. Dockers Footwear continues to benefit from a growing demand for moderate, dress and dress casual footwear in general and the brand's growing status in that market."
Genesco said that it is revising its fiscal 2007 guidance for the year ending February 3, 2007, to take a more conservative outlook based on the continued challenging trends in the urban markets.
Genesco also announced that its board of directors has authorized the use of up to an additional $30 million in cash to repurchase shares of the Company's common stock from time to time in open market or privately negotiated transactions, depending on market conditions and other factors.
The Company's live conference call on August 24, 2006, at 7:30 a.m. (Central time) may be accessed through the Company's internet website, www.genesco.com. To listen live, please go to the website at least 15 minutes early to register, download and install any necessary software.
Genesco Inc, a Nashville-based specialty retailer, sells footwear, headwear and accessories in more than 1,850 retail stores in the United States and Canada.
The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers and Perry Ellis brands.
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