Genesco gains on upbeat annual profit forecast
GCO•Quarterly results and sales outlook
Genesco reported Q2 net sales of $529.9 million, down about 3% from a year earlier due to store closures, lower licensed sales and weak demand at its UK-based footwear chain Schuh.
The company posted a quarterly loss of 83 cents per share, compared with a $1.14 loss a year earlier.
Genesco now expects annual comparable sales to be flat, versus its prior expectation of 1% to 2% growth.
Shares rise on higher-end profit outlook
Shares of apparel and footwear retailer Genesco GCO.N rose as much as 8.23% to $36.28 after the company said it expects FY2027 adjusted EPS at the high end of its $2.00 to $2.40 range, versus the midpoint of the same range previously.
Up to the last close, the shares were up about 35% year to date.
