Why Branded Footwear Retailer Genesco's Shares Are Shooting Higher Today
Portfolio Pulse from Shivani Kumaresan
Genesco Inc (NYSE:GCO) shares surged 14.9% after reporting better-than-expected Q1 FY25 earnings. Despite a 5.3% sales decline to $457.60 million, the results beat the consensus estimate of $445.05 million. Adjusted EPS of $(2.10) also surpassed the expected $(2.66). The company reaffirmed its fiscal 2025 outlook.
May 31, 2024 | 1:56 pm
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Genesco Inc (NYSE:GCO) shares rose 14.9% following better-than-expected Q1 FY25 earnings. Despite a 5.3% sales decline, the company beat revenue and EPS estimates. The fiscal 2025 outlook was reaffirmed.
The positive earnings surprise and reaffirmed outlook have driven a significant increase in GCO's share price. Beating both revenue and EPS estimates typically boosts investor confidence, leading to a short-term price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100