Genesco Beats Q2 Estimates, Raises FY27 EPS Outlook to High End
GCO sits 57% above its 52-week low of $21.925.
Summary
Genesco reported Q2 revenue of $530M, slightly above the $527.98M consensus, and an adjusted loss per share of $0.83, far better than the $1.37 expected. The company raised its full-year adjusted EPS guidance to the high end of the $2.00-$2.40 range, though it now expects comparable sales to be flat versus prior guidance of up 1%-2%. Gross margin improved to 51.4% on less discounting and favorable mix. This follows a proxy contest with activist investors and a Q1 loss of $1.42 per share; the Q2 beat and raised EPS outlook signal improving profitability despite softer sales. Watch for the annual meeting outcome and any further activist response.
At the time of this announcement, GCO was trading at $34.44 on NYSE in the Trade & Services sector, with a market capitalization of approximately $372.3M. The 52-week trading range was $21.93 to $43.60. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.