Genesco Misses on Q1 Results
Genesco results for the company's fiscal Q1 2014 have been released. For the quarter, net sales came in at $591 million, a drop of 1.5% from the $600 million in the same period the previous year. Net profit also saw a slip, to $18.4 million ($0.77 per diluted share) from Q1 2013's figure of $20.6 million ($0.85). On an adjusted basis, those numbers were $22.2 million ($0.94 per diluted share) and $23.8 ($0.98), respectively.
Analysts had been projecting top line of $606 million and non-adjusted EPS of $0.85 for the latest quarter.
Genesco reiterated its guidance for the entirety of fiscal 2014. For the year, the company believes it will post adjusted, diluted EPS of $5.57-$5.67, an improvement over 2013's $5.06.
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