Genesco shares hit an all-time high of $69.45 Wednesday after an upgrade from Sam Poser at Sterne Agee & Leach provided investors who have missed the company's run so far another reason to jump on board. Poser hiked his price target for Genesco (Ticker: GCO) to $80 from $70, citing the company's plan to convert a number of its urban concept Underground Station stores — which have been about the only part of the company not growing strongly of late — into Journeys Kidz and Shi by Journeys locations. Genesco closed Wednesday trading at $67.91.
Aram Rubinson at Nomura Securities says Dollar General and its dollar-store peers have a very good chance at continuing to boost their sales of consumables, which has been a huge growth engine for them. To keep up their growth rate, Dollar General (Ticker: DG), Family Dollar and Dollar Tree need only pick up less than half a percentage point of the overall consumables market. That, he says, "seems quite sustainable."
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