Brief: Genesco Inc Reports Fiscal 2024 Q1 Results

Genesco

25/05/2023 12:54

May 25 (Reuters) - Genesco Inc  GCO.N :
    * GENESCO INC. REPORTS FISCAL 2024 FIRST QUARTER RESULTS
    * GENESCO INC - QTRLY GAAP LOSS FROM CONTINUING OPERATIONS
WAS
$1.60 PER SHARE
    * GENESCO INC - QTRLY NON-GAAP LOSS FROM CONTINUING
OPERATIONS WAS
$1.59 PER SHARE
    * GENESCO INC - TAKING A MUCH MORE CONSERVATIVE VIEW AND
REVISING
OUR OUTLOOK FOR REMAINDER OF FISCAL 2024
    * GENESCO INC - SEES 2024 SALES TO BE DOWN 4% TO 5%, OR DOWN
5% TO
6% EXCLUDING 53 WEEK THIS YEAR, COMPARED TO FISCAL 2023
    * GENESCO INC - SEES 2024 ADJUSTED DILUTED EARNINGS PER
SHARE FROM
CONTINUING OPERATIONS IN RANGE OF $2.00 TO $2.50
    * GENESCO INC - SEES FY24 SALES TO BE DOWN 4% TO 5%, OR DOWN
5% TO
6% EXCLUDING 53RD WEEK THIS YEAR, COMPARED TO FISCAL 23
    * GENESCO INC - NOW EXPECTS TO CLOSE MORE THAN 100 JOURNEYS
STORES
IN FISCAL 2024, VERSUS PRIOR EXPECTATIONS TO CLOSE 60 STORES
    * GENESCO INC - NOW ANTICIPATES UP TO $40 MILLION IN COST
REDUCTIONS, VERSUS $20 MILLION TO $25 MILLION PRIOR, WITH $20
MILLION REALIZED IN FISCAL 2024

Source text for Eikon:  ID:nBwbg3Kh3a 
Further company coverage:  GCO.N 

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