Genesco Inc. Q3 operating income drops 85.5% to USD 0.5 million
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Genesco Inc. reported a significant drop in Q3 operating income, down 85.5% to USD 0.5 million, despite a 3.3% increase in net sales to USD 616.2 million. The Genesco Brands Group segment saw a 3.2% rise in net sales but experienced a 34.9% decrease in gross margin and an 85.5% decline in operating income. The decrease in operating margin was due to lower gross margin percentages and higher sales costs.
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