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Genesco cuts full-year profit outlook

2015-12-04 15:50:15| Footwear - Topix.net

The footwear and cap retailer said Friday that initiatives to reduce inventory at Lids through promotions and discounts hurt gross margins and led to lower profit guidance. Genesco now forecasts full-year adjusted earnings per share to be between $4.50 and $4.60, compared with its previous guidance of $4.70 to $4.80.

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