Genesco’s profit drops by 29% but sales are up

Genesco posted first-quarter earnings from continuing operations of $9.9 million, down from $14.1 million in the same quarter last year. Excluding extraordinary items, including $0.9 million of deferred purchase price payments in connection with the acquisition of Britain's Schuh Group, earnings from continuing operations declined to $12.2 million from $19.3 million.

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