Genesco Q3 sales down 4% to $579M, adj EPS $0.57; lowers FY outlook to $1.50-$2.00

GENESCO INC

2024-Q3 EPS reported -$3.88 revenue$1,585,674,000

Net sales $579M, down 4% YoY; comparable sales -4% (stores -7%, direct +8%).
GAAP EPS from cont ops $0.60 vs $1.66; adjusted EPS $0.57 vs $1.65.
Operating income $10.9M (1.9% margin) vs $26.1M (4.3%) last year.
Gross margin 48.1%, down 60 bps due to increased promotions at Journeys.
FY2024 adjusted EPS guidance lowered to $1.50-$2.00; expects sales down 1-2%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENESCO INC reported the third fiscal quarter ended October 28, 2023 results: revenue Net sales of $579 million, net income GAAP earnings from continuing operations were $6.6 million, EPS GAAP EPS from continuing operations was $0.60.

Period: the third fiscal quarter ended October 28, 2023
Revenue: Net sales of $579 million
Net income: GAAP earnings from continuing operations were $6.6 million
EPS: GAAP EPS from continuing operations was $0.60
Result: reported results

Exact text from the filing

1, 2023 --- Genesco Inc. (NYSE: GCO) today reported third quarter results for the three months ended October 28, 2023. Third Quarter Fiscal 2024 Financial Summary • Net sales of $579 million decreased 4% compared to Q3FY23 • Comps down 4%, with stores down 7% and direct up 8% • E-commerce sales represented 21% of retail sales compared to 18% last year • GAAP EPS from

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Source: SEC EDGAR

accession 0000950170-23-067148

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