Genesco Inc (GCO) posted net sales for the third quarter of $713 million, down 1% — falling short of analyst estimates. Comparable sales rose 4%, with stores sales up 4% and direct sales up 9%. Direct-to-consumer sales were 11% of total retail sales for the quarter.
GAAP earnings from continuing operations were $14.5 million in the quarter, compared to a loss of $164.8 million in the third quarter last year.
Net earnings was $14.4 million or $0.73 per diluted share, missing Street estimates of $0.86 per share.
Last quarter, Genesco beat market expectations on revenue and earnings. Net sales then soared 6% to $654 million while, total comparable sales rose 3%, reflecting the highest gain in over two years.
For fiscal 2019, Genesco narrowed its outlook, and now expects comparable sales to be up 2-3%, and adjusted diluted earnings per share of $3.10-3.40.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Infographic: How Starbucks (SBUX) performed in Q1 2023
Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections. Global comparable store sales increased
Earnings: Google parent Alphabet (GOOG, GOOGL) reports lower Q4 profit
Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search
HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,
