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Journeys same-store sales hold up in Q3

A skate page on Journeys website

By TIFFANY MONTGOMERY
November 19, 2008 07:17 AM

Genesco, the parent company of shoe retailer Journeys, said last evening that same-store sales for the chain rose 5 percent in the third quarter ended Nov. 2.

Company executives said they were pleased with Journeys performance given the challenging retail environment. Journeys is an important customer for footwear brands in the industry.

November isn't going as well, however. Through Nov. 16, Journeys same-store sales are down 9 percent.

The company expects sales to rebound. It said the comparisons from last year are tough for key product lines because of timing of vendor shipments this year. Genesco said a "meaningful" improvement in same-store sales should begin at the end of November as additional shipments arrive.

Genesco will release third quarter earnings Nov. 25.