US: Genesco adjusts FY guidance to lower end
Apparel and footwear retailer Genesco has adjusted its full-year earnings guidance to the lower end of its forecast on the back of a 1% increase in fourth-quarter sales.
For the three months ended 11 January, comparable sales, including both stores and direct sales, edged up 1% compared to a drop of 1% on the prior year period.
Comparable sales for stores only were flat on last year, when sales were down 2%, while e-commerce sales climbed 11% versus growth of 17% last year.
Based on quarter-to-date results and current trends, Genesco said its adjusted earnings per diluted share expectations for the fiscal year ending 1 February are now at the lower end of its guidance range of US$5.10 to $5.20.
Genesco plans to announce its fourth-quarter and fiscal year 2014 results on 7 March.
US apparel and footwear retailer Genesco said it delivered solid top-line growth in the third quarter, driven by better than expected sales from Journeys Group....
US apparel and footwear retailer Genesco has announced the retirement of CFO James Gulmi and the appointment of successor Mimi Vaughn....
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