Genesco (GCO) Releases Earnings Results, Beats Expectations By $0.07 EPS

Genesco (GCO) reported quarterly earnings results on Thursday, Sep-1-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.27. The company posted revenue of $625.60 million in the period, compared to analysts expectations of $642.38 million. The company’s revenue was down -4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Genesco. Genesco was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 20, 2016.

Genesco opened for trading at $72.72 and hit $73.45 on the upside on Monday, eventually ending the session at $73.37, with a gain of 1.09% or 0.79 points. The heightened volatility saw the trading volume jump to 75,056 shares. Company has a market cap of $1,522 M.

In a different news, on Jun 21, 2016, Mimi Eckel Vaughn (Sr VP-Finance and CFO) sold 4,000 shares at $66.10 per share price. According to the SEC, on Jun 10, 2016, Robert J Dennis (Chairman, President & CEO) sold 16,685 shares at $65.15 per share price. On Dec 17, 2015, Kenneth Kocher (Senior Vice President) sold 10,000 shares at $55.83 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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