Genesco Misses on Q1 Results

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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.

The article Genesco Misses on Q1 Results originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Genesco, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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