Genesco Reduces Full Year Earnings Guidance - Quick Facts

(RTTNews) - Genesco Inc. (GCO) announced the company now expects adjusted earnings per share for the year in the range of $3.35 to $3.65, compared to its previously issued guidance range of $3.90 to $4.05, a wider range than usual given some of the opportunities and challenges in its business. The guidance assumes comparable sales in the range of down 1% to up 1% for the full year.

For the second quarter of fiscal 2018, adjusted for items, loss from continuing operations was $2.0 million, or $0.10 per share, compared to profit from continuing operations of $6.9 million, or $0.34 per share, prior year.

Net sales for the second quarter decreased 1.4% to $617 million from $626 million, previous year. Without the sale in December of the SureGrip business and the impact of foreign exchange, revenue would have been flat. Consolidated comparable sales, including same store sales and comparable e-commerce and catalog sales, were flat.