Genesco Reports Q2 Non-GAAP EPS Loss of -$0.83 and Revenue Beat
In its second-quarter report, Genesco (GCO) posted a non-GAAP earnings per share loss of $0.83, which exceeded expectations by $0.54. The company also reported revenue of $530 million, surpassing forecasts by $2.74 million despite a 2.9% year-over-year decline in net sales. The drop in net sales was attributed to the impact of store closures and reduced licensed sales, along with a 6% decrease in e-commerce comparable sales. Despite these challenges, Genesco managed to outperform revenue expectations and raised its full-year guidance for fiscal performance.
Tickers: $GCO
Topics: Earnings Revenue Beat