Genesco Inc. posted a $63.9 million net loss in Q4 ended Feb. 3, reversing a $56 million profit a year earlier as it took a $98 million loss on its sale of the Lids Sports Group.

Genesco completed $100 million sale of the 1,116-store mall-based headwear retailer to Ames Watson Capital in February. Ames is combining Lids with the 86-store sporting goods retailer Fanzz, which it purchased last year, to create FanzzLids Holdings. Fanatics Inc. is a minority investor in the newly formed retailer. Genesco purchased Lids for $177 million in 2004.

Meanwhile, the Q4 loss tied to the company’s licensed brand business (Levi’s, Dockers) narrowed to $109,000 from $2.5 million a year earlier (which included several charges). Licensed brand revenue declined 8.8% in Q4 to $14.4 million due partly to ending of a pact with G-III Apparel for the G.H. Bass brand. For the year, the licensed brands’ operating loss widened to $488,000 from $299,000 as revenue fell 19.2% to $72.5 million.

Contact:

Genesco, Mimi Vaughn, CFO, 615-365-7000