Genesco Q4 income beats expectations
Nashville, Tenn. — Footwear retailer Genesco Inc. said its fourth-quarter net income from continuing operations rose to $41.5 million from $31.4 million a year ago. Its results easily topped Wall Street expectations.
Revenue in the quarter rose 29% to $723 million. Same-store sales increased 12%. By brand, same-store sales were up 13% at Lids Sports Group and 14% at the Journeys Group. Johnston & Murphy Retail’s sales increased by 8%, and Underground Station decreased by 4%.
Pier 1 Q4 revenue tops expectations
Fort Worth, Texas — Pier 1 Imports Inc. said that its total revenue for the fourth quarter, ended Feb. 25, increased a better-than-expected 11.8% to $477 million. Same-store sales rose 10.3%.
The chain said total revenue for the fiscal year ended Feb. 25 climbed 9.8% to $1.53 billion.
The home décor retailer is upbeat about its first-quarter prospects.
"Our spring, outdoor and Easter product assortments are pacing ahead of last year and we feel very confident this momentum will carry into the first quarter as we start our new fiscal year," president and CEO Alex Smith said in a statement.
Pier 1 will report its fourth-quarter and full-year financial results on April 5.
Woolworths in South Africa selects JDA solutions
New York City — JDA Software Group announced that Woolworths, South Africa’s leading and most respected retail chain, selected a number of JDA solutions in fourth quarter 2011.
Woolworths intends to use the JDA solutions across its food business to improve inventory allocation and replenishment across its supply chain, tailor merchandise assortments to meet individual customer demand, monitor supply chain performance across multiple channels and networks, and achieve more competitive pricing for its customers at its more than 400 stores across South Africa.
“We constantly work to make ‘the difference’ for our customers every day,” said Adrian Gebers, head of IT business applications, Woolworths South Africa. “By selecting JDA’s proven retail solutions, we areinvesting in and improving our information technology systems and strategies. Implementing these additional JDA applications over the next three years will allow us to maintain our competitiveness, improve our efficiency and thus our service to our customers, and to focus on our journey towards sustainability.”