Genesco needs port diversification as shipments, sales slip — Panjiva
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Genesco needs port diversification as shipments, sales slip

Cons. Discr. - Apparel 531 Cons. Discr. - Retailing 519 Corp - Ports 911 Earnings 759 Mode - Containerized 1525 Mode - Seaborne 1846 Quote Watch 452 U.S. 5404

Shoe and clothing retail owner Genesco reported a 6.0% year over year drop in revenues in FQ4’21 (to Jan. 30) due to a slide in sales at its Johnston & Murphy clothing chain. The firm may have run down inventories with U.S. seaborne imports linked to the firm down by 55.1% year over year in the three months to Jan. 31. A rebound of 55.4% in February may reflect the impact of logistics network challenges rather than accelerating demand. Indeed, the firm’s CEO, Mimi Vaughn, has stated “the supply chain is probably running about 4 to 6 weeks behind” schedule ...

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