Women’s Wear Daily
04.20.2014
business
business

Genesco Beats Estimates in Q1

The company records net loss of $5.8 million.

By
business/news
Journeys

A Journeys store location.

Photo By Courtesy Photo

Genesco Inc. exceeded analyst expectations by 13 cents a share for the first quarter, but the Nashville-based firm still recorded a net loss in the quarter.
 
In the three months ended May 2, Genesco’s net loss came to $5.8 million, or 31 cents a diluted share, versus net income of $129.3 million, or $5.14, in the year-ago period. Excluding a loss on the early retirement of debt related to an exchange of notes for common stock, discontinued operations and other charges, Genesco earned $3.5 million, or 17 cents a share. Analysts had anticipated EPS of 4 cents.
 
Excluding the benefit of the settlement reached in its aborted merger with Finish Line and other items in last year’s quarter, earnings during the year-ago period would have been $3.8 million, or 17 cents.
 
Sales in the first quarter of 2009 rallied 4 percent to $370.4 million from $356.9 million in the year-ago period.
 
Genesco reaffirmed its full-year guidance for earnings of $1.70 to $1.80 a share.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.

Ads by Google

Newsletters
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

Publications

ArticleFinder

Footwear News


Choose By

Clear

How it works

Close

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.


Or