S&P ups Genesco to positive

Standard & Poor's said that it revised the outlook on Genesco Inc. to positive from stable and affirmed the BB- corporate credit rating.

The outlook revision reflects the expectation that the company is likely to realize modest revenue gains at its largest concepts over the near term while maintaining margin stability, the agency said.

S&P said it expects moderate acquisition activity to further strengthen the company's position in the team sports segment, the agency added.

The ratings on Genesco reflect the expectation of modest performance growth over the near term through positive same-store sales at its largest divisions as well as meaningful contribution from acquisitions, the agency said.

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