Genesco Q4 Profit Tops Estimates; Net Sales Up 14%

(RTTNews) - Genesco Inc. (GCO) reported that its fourth quarter non-GAAP EPS from continuing operations increased to $3.48 from $2.76, last year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $2.64, for the quarter. Analysts' estimates typically exclude special items.

GAAP earnings from continuing operations were $62.2 million compared to $90.0 million, last year. GAAP EPS from continuing operations was $4.41 compared to $6.20.

Net sales increased 14% to $728 million from $637 million, prior year. Analysts on average had estimated $726.57 million in revenue. Same store sales increased 10%, for the quarter.

For fiscal 2023, the company expects: sales to be up 2% to 4%; and adjusted earnings per share from continuing operations in the range of $7.00 to $7.75, with an expectation that earnings per share for the year will be near the mid-point of the range.