Genesco down after lowering FY profit, sales forecast

Genesco

04/12/2025 12:27

** Shares of apparel and footwear retailer Genesco GCO.N fall nearly 23.7% to about $26.9 premarket

     ** Co cuts FY26 profit and sales outlook on weaker footwear traffic and consumer spending patterns during non-peak shopping days

     ** GCO now expects total sales to grow about 2% and comparable sales about 3%, down from prior forecast of 3% to 4% and 4% to 5%, respectively

     ** Expects adj. EPS from continuing operations around 95 cents, down from a range of $1.30 to $1.70

     ** Reports Q3 adj. EPS of 79 cents, below analysts' estimate of 88 cents - data compiled by LSEG

     ** One of three brokerages rates the stock "buy" and two "hold"; their median PT is $31 - data compiled by LSEG

     ** As of last close, shares down 17.5% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))