BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Genesco Inc. (“Genesco” or the “Company”) (NYSE: GCO) concerning the Company and its officers’ possible violations of federal securities laws.
Genesco retails and wholesales footwear, apparel, and accessories.
On September 1, 2016, Genesco issued a press release announcing its second quarter results and lowered its full year guidance. In the announcement, the Company disclosed that its second quarter Fiscal 2017 comparable sales were down 1%, while its Journeys Group experienced a 4% decrease. Genesco Chairman, President and Chief Executive Officer, Robert J. Dennis attributed the Company’s poor performance in part to a “sudden shift” away from many of the core styles that have fueled Journey’s performance in recent years.
On this news, shares of Genesco fell over 30% during intraday trading on September 1, 2016, thereby injuring investors.
If you purchased Genesco securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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