What To Expect From Genesco’s (GCO) Q4 Earnings
Stock Story
Published Mar 07, 2024 02:00
Updated Mar 07, 2024 06:46
What To Expect From Genesco’s (GCO) Q4 Earnings
Stock Story -
Footwear, apparel, and accessories retailer Genesco (NYSE:GCO) will be announcing earnings results tomorrow before market open. Here's what you need to know.
Last quarter Genesco reported revenues of $579.3 million, down 4.1% year on year, missing analyst expectations by 1.6%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' earnings estimates.
Is Genesco buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Genesco's revenue to decline 2.8% year on year to $704.9 million, a further deceleration on the 0.4% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.66 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Genesco's peers in the apparel and footwear retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Boot Barn (NYSE:BOOT) delivered top-line growth of 1.1% year on year, missing analyst estimates by 1.5% and Ross Stores (NASDAQ:ROST) reported revenues up 15.5% year on year, exceeding estimates by 3.6%. Boot Barn traded down 6.2% on the results, and Ross Stores was down 0.7%.
Read the full analysis of Boot Barn's and Ross Stores's results on StockStory.
There has been positive sentiment among investors in the apparel and footwear retail segment, with the stocks up on average 6.3% over the last month. Genesco is up 2.2% during the same time, and is heading into the earnings with analyst price target of $30.5, compared to share price of $28.6.
Get The App
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.