Genesco down in Q1

Nashville, Tenn. Genesco reported Thursday a first-quarter loss on continuing operations of $5.6 million, compared with earnings from continuing operations of $129.4 million a year ago.

Fiscal 2010 first-quarter earnings reflected pretax charges of $11 million related to a loss on the early retirement of debt as well as fixed asset impairments, lease terminations, litigation settlements and a higher effective tax rate.

Net sales for the quarter increased 4% to $370 million. Comp-store sales increased 2%. The Journeys Group's comp-store sales for the quarter rose by 3%, the Hat World Group's increased by 7%, Underground Station's comps declined by 5% and Johnston & Murphy Retail's fell by 18%.

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