Genesco (GCO) Releases Earnings Results, Beats Expectations By $0.23 EPS

Genesco (GCO) reported quarterly earnings results on Thursday, May-26-2016. The company said it had a profit of $0.62 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.23. Analysts had a consensus of $0.39. The company posted revenue of $648.80 million in the period, compared to analysts expectations of $658.79 million. The company’s revenue was down -1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on Genesco. Shares were Downgraded by Piper Jaffray on May 24, 2016 to ” Neutral” and Lowered the Price Target to $ 61 from a previous price target of $70 .Genesco was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 19, 2016. Company shares were Reiterated by Piper Jaffray on Mar 9, 2016 to “Overweight”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .

Genesco opened for trading at $57.66 and hit $59.23 on the upside on Wednesday, eventually ending the session at $58.88, with a gain of 2.03% or 1.17 points. The heightened volatility saw the trading volume jump to 2,92,495 shares. Company has a market cap of $1,255 M.

In a different news, on Mar 16, 2016, Robert J Dennis (Chairman, President & CEO) sold 15,000 shares at $65.90 per share price. According to the SEC, on Dec 17, 2015, Kenneth Kocher (Senior Vice President) sold 10,000 shares at $55.83 per share price. On Sep 15, 2015, Roger G Sisson (Sr VP, Secretary & Gen Counsel) sold 2,322 shares at $57.46 per share price, according to the Form-4 filing with the securities and exchange commission.

Genesco Inc. is a retailer and wholesaler of footwear apparel and accessories. The Company operates in five segments: Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group and Licensed Brands. Journeys Group consists of Journeys Journeys Kidz Shi by Journeys and Underground by Journeys retail footwear chains catalog and e-commerce operations. Schuh Group consists of the Schuh retail footwear chain and e-commerce operations. Lids Sports Group consists of Lids the Lids Locker Room and Lids Clubhouse businesses Locker Room Lids Team Sports and headwear and accessory stores. Johnston & Murphy Group consists of Johnston & Murphy retail operations catalog and e-commerce operations and wholesale distribution of products under the Johnston & Murphy and Trask brands. Licensed Brands consists of Dockers Footwear sourced and marketed under a license from Levi Strauss & Company and SureGrip Footwear occupational footwear sold directly to consumers and other brands.


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