Genesco Q1 Tops Estimates on EPS and Revenue

Genesco (GCO) shares rose nearly 1% in pre-market trading as the specialty retailer posted Q1 adjusted earnings of $0.33 per share, up from $0.14 in the comparable period a year ago and exceeding the estimate of $0.03 from analysts polled by Capital IQ.

For the quarter ended May 4, total revenue of $495.7 million was up from $486.2 million in the comparable period a year ago and topped the Street projection of $479.4 million. Comparable sales increased 5% for Q1.

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Genesco affirmed fiscal 2020 adjusted EPS in the range of $3.35 to $3.75, straddling the Street estimate of $3.57. The company said it expects earnings for the year to be near the higher end of the range, revised from a prior expectation at the midpoint of the range.

Genesco also said it continues to anticipate a comparable sales increase in the range of 1% to 2% for the year.