Genesco falls on downbeat profit forecast for FY2024

Genesco

01/12/2023 14:21

** Shares of apparel and footwear retailer Genesco  GCO.N 
fall 14.8% to $31.85 premarket 
    ** Sees FY2024 adjusted EPS from continuing operations
between $1.50 and $2.00, below analysts' estimates of $2.31 -
LSEG data 
    ** Sees FY2024 sales to be down 1% to 2%, compared to FY2023
        ** Co says consumer shopping behaviour remains choppy
    ** Reports Q3 net sales of $579 mln, missing estimates of
$588.6 mln - LSEG data
    ** Reports Q3 adjusted EPS from continuing operations of
$0.57, lower than LSEG estimates of $0.84
    ** Stock down ~18.80% YTD
    

 (Reporting by Evelyn Nikhila S)
 ((Evelynnikhila.s@thomsonreuters.com))