Retail Industry
Industry: Email Alert RSS FeedGENESCO UPDATES OPENINGS LINEUP.
Footwear News, November, 1998
NEW YORK -- Genesco Inc. is shifting gears slightly, planning to pick up the pace of Johnston & Murphy store openings and slow down openings for its Journeys and Jarman chains.
The Nashville, Tenn.,-based firm made the announcement last week as it reported $6.3 million third-quarter net earnings, down from $9.5 million. The firm has added 150 stores so far this year and in June said it would open 105 Journeys next year and only 15 to 25 Johnston & Murphy stores over the next two years.
But after an overall 4 percent drop in comps, Genesco last week said it is now considering what CEO Ben Harris called "a slight moderation in our store opening schedule for Journeys and Jarman." Genesco plans to open 75 to 95 new stores in total next year, down from...
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