Genesco Inc. (GCO: Quote), Tuesday announced a 2 percent decline in the comparable-store-sales for the quarter-to-date period ended January 12, 2013. Reflecting a sales shift due to the recent IRS tax refund announcement, the firm now expects adjusted EPS for the fiscal year ending February 2, 2013 to range from the low end to the middle of the upwardly revised guidance range of $5.00 to $5.08.
Same-store-sales for the period fell 2 percent compared with the prior-year figure while comparable sales, including both stores and direct sales, also declined 1 percent year-over-year.
Looking ahead, the company said, “We expect an overall solid performance for the year despite ongoing weakness in the Lids Sports Group’s sales, attributable to the temporary challenges we discussed in conjunction with our third-quarter earnings announcement, and despite considerable macroeconomic headwinds. ”
Nine analysts on average polled by Thomson Reuters expect adjusted EPS of $5.06 for the full-year.
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by RTT Staff Writer
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