Genesco Raises Outlook on Strong Comps
Bolstered by double-digit, quarter-to-date comparable store sales increases in its two primary retail groups, Genesco has raised its fourth quarter and FY EPS guidance. The Nashville parent of Journeys, Lids and Johnston & Murphy upped its Q4 EPS outlook by more than 6% to a range of $1.63-1.68 ($39.5-40.7 mm) from $1.53-1.58. Meanwhile, GCO’s FY EPS is now forecast at $3.74-3.79 ($90.6-91.8 mm), excluding $0.06 ($1.45 mm) in non-cash asset impairments. The new EPS target ranges ... Log in to view full article.