Genesco Inc. (NYSE:GCO) Unveils 2Q20 Figures Turn To Profit

Share on Stocktwits

Genesco Inc. (NYSE:GCO) communicated second quarter earnings before market open today.

The company revealed income for the second quarter of $ 0.58 million or $ 0.04 per share, compared to loss of $ 0.01 million or $ 0.00 per share for the year-ago quarter.

On adjusted basis, The Nashville based company, GCO posted adjusted income from continuing operation of $ 2.46 million or or $ 0.15 per share

GCO posted net sales for second quarter dropped 0.09 percent to $ 486.57 million from $ 487.02 million in the same quarter last year

Robert J. Dennis, Genesco Chairman, President and Chief Executive Officer, said, We delivered second quarter consolidated results that exceeded expectations across the board. Our outperformance was driven primarily by the ongoing strength of our Journeys business, which continued to experience strong comparable sales even as year-over-year comparisons became more difficult.

For full year 2020 bottom line outlook are to be in a range of $ 3.80 to $ 4.20 per share

Follow Us on StockTwits