Genesco up after raising FY 2025 sales forecast
06/12/2024 12:56
** Shares of apparel and footwear retailer Genesco GCO.N
rise 5.6% to $39.49 premarket
** Co expects FY 2025 total sales to be down 1% to flat vs.
prior expectation of a 1% to 2% decline
** Also expects fiscal year EPS of 80 cents to $1.00 vs.
prior guidance of 60 cents to $1.00
** Co posts Q3 net sales of $596.3 mln, above analysts'
estimates of $580.9 mln, and adjusted EPS of 61 cents vs.
estimates of 37 cents - data compiled by LSEG
** Says sales trends at Journeys retail chain, helped by its
strategic growth plan, and momentum from back-to-school season
drove co's quarterly sales
** Up to Thursday's close, stock has risen ~6% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))