Genesco Q3 Adj EPS $0.57 Misses $0.82 Estimate, Sales $579.32M Miss $588.60M Estimate
Portfolio Pulse from Benzinga Newsdesk
Genesco Inc. (NYSE:GCO) reported Q3 adjusted earnings per share (EPS) of $0.57, falling short of the $0.82 estimate, a 30.49% miss. Year-over-year, this represents a 65.45% decrease from the $1.65 EPS reported in the same quarter last year. Quarterly sales were $579.32 million, also below the expected $588.60 million, marking a 1.58% miss and a 4.05% decline from the previous year's sales of $603.79 million.
December 01, 2023 | 11:51 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Genesco Inc. reported a significant miss in Q3 earnings and sales, with EPS at $0.57 versus the expected $0.82 and sales at $579.32M against the $588.60M estimate. The company experienced a substantial year-over-year decline in both earnings and sales.
The significant miss in both earnings and sales compared to analyst estimates, coupled with the substantial year-over-year decline, is likely to negatively impact investor sentiment and the stock price of Genesco in the short term. The magnitude of the miss and the historical comparison underscore the company's underperformance, which typically leads to a negative market reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100