UPDATE: Genesco Posts Upbeat Q1 Profit
Genesco (NYSE: GCO) reported an 11% drop in its fiscal first-quarter earnings.
Genesco's quarterly profit fell to $18.4 million, or $0.77 per share, from $20.6 million, or $0.85 per share, in the year-ago period. Excluding one-time items, its earnings from continuing operations declined to $0.94 from $0.98 per share.
Its sales dropped 1.5% to $591.4 million. However, analysts were expecting adjusted earnings of $0.85 per share on revenue of $606 million.
Genesco shares gained 0.19% to $69.20 in pre-market trading.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.