Genesco Q1 Net Loss Widens; Reaffirms FY25 Outlook

RTTNews | vor 361 Tagen
Stocktwits
Genesco Q1 Net Loss Widens; Reaffirms FY25 Outlook

(RTTNews) - Specialty retailer Genesco, Inc. (GCO) on Friday reported a net loss for the first quarter of $24.35 million or $2.23 per share, wider than $18.89 million or $1.60 per share in the prior-year quarter.

Excluding items, adjusted loss from continuing operations were $2.10 per share, compared to adjusted loss from continuing operations of $1.59 per share in the year-ago quarter.

Net sales for the quarter decreased 5 percent to $457.60 million from $483.33 million in the same quarter last year. Excluding the impact of lower exchange rates, net sales decreased 6 percent. Total Genesco Comparable Sales declined 5 percent.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $2.70 per share on revenues of $445.65 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2025, the company continues to project adjusted earnings from continuing operations in the range of $0.60 to $1.00 per share on sales to be down 2 to 3 percent, or down 1 to 2 percent excluding the 53rd week in fiscal 2024.

The Street is looking for earnings of $0.63 per share on a revenue decline of 3.1 percent to $2.25 billion for the year.

The Company continues to evaluate up to 50 Journeys store closures in Fiscal 2025. The Company's cost savings program remains on track to achieve a reduction in the annualized run rate of $45 to $50 million by the end of fiscal 2025.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: GCO
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Genesco Slips To Loss In Q1; Slashes FY24 Outlook

Genesco Slips To Loss In Q1; Slashes FY24 Outlook

Specialty retailer Genesco, Inc. (GCO) on Thursday reported a net loss for the first quarter of $18.89 million or $1.60 per share, compared to net income of $4.95 million or $0.37 per share in the prior-year quarter.
RTTNews | vor 733 Tagen
Genesco Q2 Adj. EPS Tops Estimates; Slashes FY23 Outlook

Genesco Q2 Adj. EPS Tops Estimates; Slashes FY23 Outlook

Specialty retailer Genesco, Inc. (GCO) on Thursday reported that net earnings for the second quarter declined to $7.64 million or $0.59 per share from $10.94 million or $0.75 per share in the prior-year quarter.
RTTNews | vor 999 Tagen
European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European Stocks Close Broadly Higher On Strong Data, Easing Trade Tensions

European stocks closed on a positive note on Tuesday, continuing to benefit from U.S. President Donald Trump's decision to amid slightly easing concerns about a potential trade war following U.S. President Donald Trump's decision decision to wait till July 9th to implement the 50% tariffs he had threatened to impose on imports from the European Union.
RTTNews | vor 43 Minuten
U.S. Consumer Confidence Rebounds Much More Than Expected In May

U.S. Consumer Confidence Rebounds Much More Than Expected In May

A report released by the Conference Board on Tuesday showed a substantial improvement by U.S. consumer confidence in the month of May. The Conference Board said its consumer confidence index spiked to 98.0 in May after plunging to a downwardly revised 85.7 in April.
RTTNews | vor 3Std 25 Minuten
U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

U.S. Durable Goods Orders Plunge 6.3% In April As Aircraft Orders Plummet

With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of April. The Commerce Department said durable goods orders tumbled by 6.3 percent in April after surging by a downwardly revised 7.6 percent in March.
RTTNews | vor 3Std 35 Minuten
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