Nashville, Tenn. Genesco said Thursday that online and catalog sales boosted its fourth-quarter profit. Net income for the quarter increased 12% to $25.9 million, compared with $23.2 million a year earlier. Sales climbed 6% to $479 million, easily beating Wall Street expectations of $466.5 million.
Same-store sales were flat. For the Hat World Group, the key sales figure rose 6% while results for Journeys Group fell 3%. At Underground Station, same-store sales dipped 2%, while Johnston & Murphy retail climbed 2%.
Genesco's full-year, profit declined 81% to $28.8 million in the prior year. Annual revenue rose slightly to $1.57 billion.