Genesco (GCO) Comps Decline 2%, Guides EPS Toward Lower End - InvestingChannel

Genesco (GCO) Comps Decline 2%, Guides EPS Toward Lower End

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Genesco Inc. (NYSE: GCO) announced today that same store sales for the quarter-to-date period ended January 12, 2013, declined 2% from the equivalent period last year, when same store sales increased 13%. Sales for the Company’s e‑commerce and catalog direct sales businesses increased 17% in the quarter-to-date period ended January 12, 2013, on a comparable basis. Comparable sales, including both stores and direct sales, decreased 1% for the quarter-to-date period this year, compared to a 13% increase for the same period last year.

Based on quarter-to-date results and current trends, the Company’s adjusted earnings per diluted share expectations for the fiscal year ending February 2, 2013, now range from the low end to the middle of the upwardly revised guidance range of $5.00 to $5.08 announced by the Company on November 30, 2012.

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