Genesco (GCO) Misses Q4 EPS by 2c; Guides FY17 EPS, Sales Growth
Genesco (NYSE: GCO) reported Q4 EPS of $2.11, $0.02 worse than the analyst estimate of $2.13. Revenue for the quarter came in at $932 million versus the consensus estimate of $939.42 million.
Consolidated fourth quarter 2016 comparable sales, including same store sales and comparable e-commerce and catalog sales, increased 4%, with a 5% increase in the Journeys Group, a 3% increase in the Lids Sports Group, a 2% decrease in the Schuh Group, and a 6% increase in the Johnston & Murphy Group. Comparable sales for the Company reflected a 2% increase in same store sales and a 21% increase in e-commerce sales.
GUIDANCE:
Genesco sees FY2017 EPS of $4.80 - $4.90, versus the consensus of $5.04. The company said: These expectations do not include expected non-cash asset impairments and other charges, estimated in the range of $6.3 million to $6.8 million pretax, or $0.19 to $0.20 per share after tax, for the full fiscal year. This guidance assumes comparable sales increases in the 1% to 2% range for the full year.
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