Genesco Eyes 5.5% Q4 Revenue Growth After Q3 EPS Guidance Miss
Genesco posted $616.2 million in Q3 revenue, up 3.3% year-on-year, but its full-year EPS guidance and quarterly EPS both missed consensus by wide margins. Q4 revenue is forecast to climb 5.5% year-on-year, with shares down 7.8% over the past month and an average analyst target of $36.75 versus $26.38.
1. Q3 revenue and EPS guidance shortfall
Genesco recorded Q3 revenue of $616.2 million, a 3.3% increase year-on-year, but its updated full-year EPS guidance and reported quarterly EPS both fell significantly below market consensus.
2. Q4 revenue growth expectations
The company is projected to deliver 5.5% year-over-year revenue growth in Q4, an improvement from flat sales in the same period last year, and analysts have largely maintained their estimates despite multiple revenue misses over the past two years.
3. Share performance and analyst projections
Genesco’s shares have declined 7.8% over the last month as investors react to mixed results; the average analyst price target stands at $36.75 compared with the current share price of $26.38.