Genesco Q1 Adj $(2.10) Beats $(2.70) Estimate, Sales $457.60M Beat $445.05M Estimate
Portfolio Pulse from Benzinga Newsdesk
Genesco (NYSE:GCO) reported Q1 losses of $(2.10) per share, beating the analyst estimate of $(2.70). Sales were $457.60M, also surpassing the $445.05M estimate. Despite beating estimates, both earnings and sales were down compared to the same period last year.
May 31, 2024 | 10:53 am
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POSITIVE IMPACT
Genesco reported better-than-expected Q1 losses and sales, but both metrics declined year-over-year. The stock may see a short-term positive impact due to beating estimates, but the overall decline in performance could temper gains.
Genesco's better-than-expected earnings and sales figures are likely to boost investor sentiment in the short term. However, the year-over-year decline in both earnings and sales may limit the extent of the positive impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100