Brief: Genesco Inc Reports Fiscal 2024 Second Quarter Results

Genesco

31/08/2023 11:53

Aug 31 (Reuters) - Genesco Inc  GCO.N :
    * GENESCO INC. REPORTS FISCAL 2024 SECOND QUARTER RESULTS
    * GENESCO INC: QTRLY NET SALES OF $523 MILLION DECREASED 2%
COMPARED TO Q2FY23
    * GENESCO INC: QTRLY GAAP LOSS PER SHARE FROM CONTINUING
OPERATIONS WAS $2.79
    * GENESCO INC - REAFFIRMS FISCAL 2024 EPS OUTLOOK
    * GENESCO INC: QTRLY NON-GAAP LOSS PER SHARE FROM CONTINUING
OPERATIONS WAS $0.85
    * GENESCO INC: EXPECTS SALES TO BE DOWN 2% TO 4%, OR DOWN 3%
TO 5%
EXCLUDING 53(R)D WEEK THIS YEAR, COMPARED TO FISCAL 2023
    * GENESCO INC: THUS FAR IN Q3, SALES TRENDS FOR
BACK-TO-SCHOOL
SEASON IMPROVED A LITTLE FURTHER
    * GENESCO INC: MAINTAINING OUR CAUTIOUS VIEW AND REITERATING
OUR
OUTLOOK FOR FISCAL 2024
    * GENESCO INC: ANTICIPATES UP TO $40 MILLION IN COST
REDUCTIONS BY
END OF FISCAL 2025, WITH APPROXIMATELY $20 MILLION REALIZED IN
FISCAL 2024
    * GENESCO INC - COMPANY EXPECTS TO CLOSE APPROXIMATELY 100
JOURNEYS STORES IN FISCAL 2024
    * GENESCO INC: RECOGNIZED FULL IMPAIRMENT OF GOODWILL IN ITS
GENESCO BRANDS GROUP AND RECORDED A NON-CASH IMPAIRMENT CHARGE
OF $28.5 MILLION PRETAX

Source text for Eikon:  ID:nBw4kmjfYa 
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