Genesco FY20 sales remain flat at $2.2 billion

Genesco Inc, a US-based specialty retailer, has announced its fiscal 2020 results. Net sales over the year remained flat at $2.2 billion compared to prior year. Sales in the fourth quarter (Q4) FY20 that ended on February 1, 2020 rose marginally to $677.5 million (Q4 FY19: $675.4 million). Operating income in FY20 were $83.3 million (FY19: $81.8).

 

Genesco Inc, a US-based specialty retailer, has announced its fiscal 2020 results. Net sales over the year remained flat at $2.2 billion compared to prior year. Sales in the fourth quarter (Q4) FY20 that ended on February 1, 2020 rose marginally to $677.5 million (Q4 FY19: $675.4 million). Operating income in FY20 were $83.3 million (FY19: $81.8).#

"Fiscal 2020, which marked our first year as a footwear focused company, was filled with many notable successes and important accomplishments. We delivered strong results, building on the turnaround in profitability that began in fiscal 2019,” Mimi E Vaughn, Genesco president and chief executive officer, said in a press release.

 

Genesco Inc, a US-based specialty retailer, has announced its fiscal 2020 results. Net sales over the year remained flat at $2.2 billion compared to prior year. Sales in the fourth quarter (Q4) FY20 that ended on February 1, 2020 rose marginally to $677.5 million (Q4 FY19: $675.4 million). Operating income in FY20 were $83.3 million (FY19: $81.8).#

Direct-to-consumer sales were 12.6 per cent of total retail sales for the year compared to 10.8 per cent prior year. Selling and administrative expense as a percentage of sales for the year was flat at 44.0 per cent ($966.4 million) compared to the same period prior year. Net earnings for the fiscal were $61.3 million compared to loss of $51.9 million reported in prior year.

 

Genesco Inc, a US-based specialty retailer, has announced its fiscal 2020 results. Net sales over the year remained flat at $2.2 billion compared to prior year. Sales in the fourth quarter (Q4) FY20 that ended on February 1, 2020 rose marginally to $677.5 million (Q4 FY19: $675.4 million). Operating income in FY20 were $83.3 million (FY19: $81.8).#

Sales of Journey Group remained flat at $1.4 billion. Johnston & Murphy Group sales fell to $300.8 million (FY19: 313.1 million). 

 

Genesco Inc, a US-based specialty retailer, has announced its fiscal 2020 results. Net sales over the year remained flat at $2.2 billion compared to prior year. Sales in the fourth quarter (Q4) FY20 that ended on February 1, 2020 rose marginally to $677.5 million (Q4 FY19: $675.4 million). Operating income in FY20 were $83.3 million (FY19: $81.8).#

The company in its outlook for fiscal 2021 expects total sales to increase 3-6 per cent  including sales from the recent Togast acquisition.