BUZZ-Genesco up after raising FY 2025 sales forecast

Reuters
2024-12-06
BUZZ-Genesco up after raising FY 2025 sales forecast

** 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;))

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