2024

Million

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Genesco Inc. (NYSE: GCO) reported a modest revenue increase in the <a href="https://www.genesco.com/news-releases/news-release-details/genesco-inc-reports-fiscal-2024-fourth-quarter-and-full-year" target="_blank" aria-label="fourth quarter of fiscal 2024 (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter of fiscal 2024</a>, with net sales rising 2% year over year to $739 million, attributed to a 14-week period compared to a 13-week period in the previous fiscal year. <br><br>However, despite this growth, comparable sales saw a 4% decline, with in-store sales down 7%, somewhat offset by a 5% increase in direct-to-consumer sales. E-commerce continued to play a crucial role, representing 27% of total retail sales, up from 25% last year.</p>
<p>Notably, the company witnessed record sales from its Johnston &amp; Murphy and Schuh segments, alongside a sequential improvement in Journeys’ comparable sales. However, earnings per share (<a href="https://tokenist.com/investing/fundamental-analysis-stocks/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) from continuing operations fell significantly to $1.84 on a GAAP basis and $2.59 on a non-GAAP basis, down from last year’s $3.23 and $3.06, respectively.</p>
<h3 id="genesco-gco-tops-revenue-expectations-in-fiscal-q4-misses-on-eps">Genesco (GCO) Tops Revenue Expectations in Fiscal Q4, Misses on EPS</h3>
<p>When comparing the actual performance to the expectations, it’s evident that Genesco’s results were a mixed bag. Analysts had projected an EPS of $3.04 and revenue of $722.66 million for the quarter. While the company surpassed revenue expectations with $739 million, it fell short on profitability, with non-GAAP EPS landing at $2.59. <br><br>The drop in EPS can be attributed to a decline in comparable store sales, operational challenges, and adverse weather conditions that impacted consumer shopping behavior and operational costs.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="cautiously-optimistic-guidance">Cautiously Optimistic Guidance</h3>
<p>Looking forward, Genesco remains cautiously optimistic. The company anticipates total sales to decrease by 2% to 3% in fiscal 2025, considering the extra week in fiscal 2024. Adjusted EPS from continuing operations is expected to be $0.60 to $1.00, reflecting the ongoing challenges in the retail sector, including the expected continued impact of sales dynamics and strategic investments to rejuvenate the core product assortment.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/genesco-inc-gco-surpasses-revenue-expectations-with-739-million-in-q4-faces-earnings-challenge/">Genesco Inc. (GCO) Surpasses Revenue Expectations with $739 Million in Q4, Faces Earnings Challenge</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Genesco Inc. (GCO) Surpasses Revenue Expectations with $739 Million in Q4, Faces Earnings Challenge

Table of Contents

Tokenist

Other articles published on Mar 8, 2024

Will LUNC Price Ever Recover? Analysts Shoot Down Hopes as Major Investors Shift to Algotech

AI Glasses Revolutionizing Technology Landscape

Advanced Market Making Algorithms for Crypto Trading

dogwifhat (WIF) Price Hits A New All-time High! What’s Next For WIF?

Dogecoin and Shiba Inu Rival Surges Nearly 70% in 24 Hours Amid Impending Launch of Ad Blitz on T...

Binance Labs Announced the Latest Four Cryptocurrency Projects It Invested In!

Join our free newsletter for daily crypto updates!