Latest news for Genesco (NYSE:GCO) Stock

Genesco

Genesco Inc sells footwear, headwear, sports apparel, and accessories. The company has four reportable segments namely Journeys Group, derives maximum revenue which comprised of Journeys, Journeys Kidz, and Little Burgundy retail footwear chains, e-commerce operations, and catalog. Its Schuh Group is comprised of the Schuh retail footwear chain and e-commerce operations. The Johnston & Murphy Group is comprised of Johnston & Murphy retail operations, e-commerce operations, and catalog and wholesale distribution of products under the Johnston & Murphy and Genesco Brands Group. Licensed Brands, comprised of Dockers Footwear, under a license from Levi Strauss & Company.

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Nasdaq Down Over 400 Points; Braze Shares Tumble After Q2 Results

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BENF

Dow Jumps 150 Points; US Adds 142,000 Jobs In August

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U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 400 points on Friday.
The Dow traded down 1.07% to 40,320.42 while the NASDAQ fell 2.61% to 16,680.93. The S&amp;P 500 also fell, dropping, 1.80% to 5,404.31.
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40748893/over-40m-bet-on-pbf-energy-check-out-these-4-stocks-executives-are-buying"> Over $40M Bet On PBF Energy? Check Out These 4 Stocks Executives Are Buying</a>
Leading and Lagging Sectors Consumer staples shares slipped by just 0.1% on Thursday.
In trading on Thursday, communication services shares dipped by 2.8%.
Top Headline
The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) shares shot up 113% to $1.7250 after the company announced it entered into a business agreement with CrossVision for joint entertainment offerings.</li>
<li>Shares of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) got a boost, surging 119% to $9.08 after the company and its subsidiary, Cedar Realty Trust, announced that the United States Court of Appeals for the Fourth Circuit affirmed a 2023 order dismissing a putative class action complaint filed against the company and Cedar by purported holders of Cedar&#8217;s preferred stock.</li>
<li>Argan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NYSE">AGX</a>) shares were also up, gaining 25% to $89.22 after the company reported better-than-expected second-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Braze, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) shares dropped 18% to $36.14 after the company reported quarterly financial results.</li>
<li>Shares of Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) were down 27% to $1.8050 after the company reported worse-than-expected second-quarter sales results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $7 to $5.</li>
<li>Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) was down, falling 12% to $26.01 following second-quarter results.</li>
</ul>
Commodities In commodity news, oil traded down 2% to $67.74 while gold traded down 0.8% at $2,523.00.
Silver traded down 3% to $28.22 on Friday, while copper fell 1.7% to $4.0665.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 dipped 1.07%, Germany's DAX fell 1.1483% and France's CAC 40 fell 1.07%. Spain's IBEX 35 Index fell 0.89%, while London's FTSE 100 fell 0.73%.
The GDP in the Eurozone grew by 0.2% on quarter during the second quarter. The number of employed persons in the Eurozone increased by 0.2% from the prior quarter during the three months to June.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index falling 0.81% and India's BSE Sensex falling 1.24%.
Foreign exchange reserves held by the Reserve Bank of India jumped to $684 billion as of Aug. 30, 2024.
Economics
<ul>
<li>The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.</li>
<li>The unemployment rate fell to 4.2% in August from 4.3% in the previous month.</li>
<li>Average hourly earnings for all employees rose by 0.4% to $35.21 in August compared to a 0.2% gain in July.</li>
<li>The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40748612/jim-cramer-doesnt-like-carnival-right-now-royal-caribbean-is-the-one-you-want">Jim Cramer Doesn&#8217;t Like Carnival Right Now: Royal Caribbean Is &#8216;The One You Want&#8217;</a></li>
</ul>

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 400 points on Friday.
The Dow traded down 0.97% to 40,360.43 while the NASDAQ fell 2.53% to 16,694.51. The S&amp;P 500 also fell, dropping, 1.69% to 5,410.46.
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40748893/over-40m-bet-on-pbf-energy-check-out-these-4-stocks-executives-are-buying"> Over $40M Bet On PBF Energy? Check Out These 4 Stocks Executives Are Buying</a>
Leading and Lagging Sectors Consumer staples shares fell by just 0.3% on Thursday.
In trading on Thursday, information technology shares dipped by 2.6%.
Top Headline
The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.
The unemployment rate fell to 4.2% in August from 4.3% in the previous month.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) shares shot up 159% to $2.0950 after the company announced it entered into a business agreement with CrossVision for joint entertainment offerings.</li>
<li>Shares of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) got a boost, surging 126% to $9.34 after the company and its subsidiary, Cedar Realty Trust, announced that the United States Court of Appeals for the Fourth Circuit affirmed a 2023 order dismissing a putative class action complaint filed against the company and Cedar by purported holders of Cedar&#8217;s preferred stock.</li>
<li>Argan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NYSE">AGX</a>) shares were also up, gaining 30% to $92.75 after the company reported better-than-expected second-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Braze, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) shares dropped 17% to $36.70 after the company reported quarterly financial results.</li>
<li>Shares of Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) were down 21% to $1.9707 after the company reported worse-than-expected second-quarter sales results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $7 to $5.</li>
<li>Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) was down, falling 14% to $25.33 following second-quarter results.</li>
</ul>
Commodities In commodity news, oil traded up 1.2% to $69.98 while gold traded down 0.3% at $2,536.70.
Silver traded down 0.2% to $29.04 on Friday, while copper fell 0.6% to $4.1130.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.13%, Germany's DAX fell 0.13% and France's CAC 40 rose 0.22%. Spain's IBEX 35 Index rose 0.32%, while London's FTSE 100 rose 0.01%.
The GDP in the Eurozone grew by 0.2% on quarter during the second quarter. The number of employed persons in the Eurozone increased by 0.2% from the prior quarter during the three months to June.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index falling 0.81% and India's BSE Sensex falling 1.24%.
Foreign exchange reserves held by the Reserve Bank of India jumped to $684 billion as of Aug. 30, 2024.
Economics
<ul>
<li>The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.</li>
<li>The unemployment rate fell to 4.2% in August from 4.3% in the previous month.</li>
<li>Average hourly earnings for all employees rose by 0.4% to $35.21 in August compared to a 0.2% gain in July.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40748612/jim-cramer-doesnt-like-carnival-right-now-royal-caribbean-is-the-one-you-want">Jim Cramer Doesn&#8217;t Like Carnival Right Now: Royal Caribbean Is &#8216;The One You Want&#8217;</a></li>
</ul>

WIIM

Genesco shares are trading lower following Q2 financial results.

U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 150 points on Friday.
The Dow traded up 0.38% to 40,912.04 while the NASDAQ fell 0.37% to 17,064.86. The S&amp;P 500 also rose, gaining, 0.04% to 5,505.55.
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40748893/over-40m-bet-on-pbf-energy-check-out-these-4-stocks-executives-are-buying"> Over $40M Bet On PBF Energy? Check Out These 4 Stocks Executives Are Buying</a>
Leading and Lagging Sectors Energy shares climbed by 0.6% on Thursday.
In trading on Thursday, information technology shares fell by 0.7%.
Top Headline
The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.
The unemployment rate fell to 4.2% in August from 4.3% in the previous month.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) shares shot up 131% to $1.8701 after the company announced it entered into a business agreement with CrossVision for joint entertainment offerings.</li>
<li>Shares of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) got a boost, surging 89% to $7.84 after the company and its subsidiary, Cedar Realty Trust, announced that the United States Court of Appeals for the Fourth Circuit affirmed a 2023 order dismissing a putative class action complaint filed against the company and Cedar by purported holders of Cedar&#8217;s preferred stock.</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares were also up, gaining 73% to $2.5906.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Autozi Internet Technology (Global) Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZI#NASDAQ">AZI</a>) shares dropped 24% to $1.3796.</li>
<li>Shares of Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) were down 21% to $1.9593 after the company reported worse-than-expected second-quarter sales results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $7 to $5.</li>
<li>Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) was down, falling 17% to $24.31 following second-quarter results.</li>
</ul>
Commodities In commodity news, oil traded up 1% to $69.82 while gold traded down 0.4% at $2,533.40.
Silver traded down 0.5% to $28.960 on Friday, while copper fell 0.6% to $4.1140.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.3%, Germany's DAX rose 0.1% and France's CAC 40 rose 0.2%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.1%.
The GDP in the Eurozone grew by 0.2% on quarter during the second quarter. The number of employed persons in the Eurozone increased by 0.2% from the prior quarter during the three months to June.
Asia Pacific Markets
Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index falling 0.81% and India's BSE Sensex falling 1.24%.
Foreign exchange reserves held by the Reserve Bank of India jumped to $684 billion as of Aug. 30, 2024.
Economics
<ul>
<li>The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.</li>
<li>The unemployment rate fell to 4.2% in August from 4.3% in the previous month.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40748612/jim-cramer-doesnt-like-carnival-right-now-royal-caribbean-is-the-one-you-want">Jim Cramer Doesn&#8217;t Like Carnival Right Now: Royal Caribbean Is &#8216;The One You Want&#8217;</a></li>
</ul>

Fiscal 2025 Outlook For Fiscal 2025, the Company:
<ul>
<li>Now expects total sales to decrease 1% to 2% compared to Fiscal 2024, or flat to down 1% excluding the 53rd week in Fiscal 2024 versus prior expectations for a total sales decrease of 2% to 3%, or down 1% to 2% excluding the 53rd week in Fiscal 2024</li>
<li>Continues to expect adjusted diluted earnings per share from continuing operations in the range of $0.60 to $1.00&nbsp;</li>
<li>Guidance assumes no further share repurchases and a tax rate of 27%</li>
</ul>

Guidance

Genesco Expects FY25 Sales Decline Of (1)%-(2)% (Prior (2)%-(3)%); Reiterated EPS of $0.60 - $1.00 Vs. $0.81 Est.

Earnings Beats

Genesco Q2 2025 Adj. EPS $(0.83) Beats $(1.11) Estimate, Sales $525.188M Beat $512.300M Estimate

The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40718185/could-august-jobs-numbers-keep-recession-fears-at-bay-this-time-is-different-analys">non-farm payrolls data is keeping traders on the tenterhook</a> and the index futures point to a negative opening on Friday. The caveat here is the the market mood could quickly pivot to positivity if the job gain comes in line with expectations. Following the data, traders get to hear from two Federal Reserve officials, possibly the last ones ahead of the Sept. 17-18 Federal Open Market Committee Meeting, given the blackout period starts on Saturday. 
The market direction depends on which worries the traders the most &#8211; a slowdown or the rate trajectory. If the job gains grossly disappoint just as its ADP counterpart did, the odds of a 50 basis-point could be in play. But it remains to be seen whether a weak job market would be considered a reason good enough to liquidate risky bets. The CBOE Volatility Index, commonly called the VIX, spiked by over 13%.
On the corporate front, Broadcom Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) soft guidance is weighing down on the chipmaker&#8217;s stock and that of its peers as well. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-1.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.63%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.33%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.51%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) plunged 0.61% to $546.24 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 1.05% to $456.21, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks went about in a listless manner on Thursday as traders digested a weak ADP private payrolls number, fairly in-line initial jobless claims data and better-than-expected service sector activity readings. After a negative open, the major indices recovered and rose in the morning session. Lingering worries about Friday&#8217;s payroll numbers dragged the market lower yet again and the indices began to move in a lackluster manner before closing mixed. 
Gains in some heavy-weighted tech stocks lifted the Nasdaq to a higher close, as it snapped a two-session losing streak, while the S&amp;P 500 Index finished with a modest loss. The 30-stock Dow Jones Industrial Average and the small-cap Russell 2,000 Index settled moderately lower.
Eight of the 11 S&amp;P 500 sectors finished in the red, with industrial, material healthcare and financial stocks seeing marked weakness. On the other hand, consumer discretionary, communication services and IT stocks found some buying interest.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.25%</td>
<td>17,127.66</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.30%</td>
<td>5,503.41</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.54%</td>
<td>40,755.75</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.61%</td>
<td>2,132.05</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
After August proved to be a wild month for stocks, September has so far lived up to expectations of being a seasonally weak month, and an analyst cautioned that the near term does not hold out much promise. LPL Financial Chief Technical Strategist Adam Turnquist said the S&amp;P 500&#8217;s recovery has stalled just under its record highs hit in mid-July. 
The index stalled just around its 20- and 50-day simple moving averages. Turnquist noted that there is a price gap at 5,455 and further down, it has support around its August low of 5,119. In the event of a rally August and July highs of 5,648 and 5,667, respectively, will serve as resistances, he added.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06044452/image-1-11-1024x536.png" alt="" class="wp-image-533772" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06044452/image-1-11-1024x536.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06044452/image-1-11-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06044452/image-1-11-768x402.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06044452/image-1-11.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: TradingView
&#8220;Momentum indicators have turned bearish, and signs of defensive leadership have begun to emerge, pointing to more volatility ahead,&#8221; Turnquist said, adding that &#8220;breakdowns in longer-duration Treasury yields, crude oil, and copper, along with a simultaneous breakout in gold, provide a warning sign of rising risks to an economic soft landing.&#8221;
Upcoming Economic Data:
<ul>
<li>The August non-farm payrolls report, due to be released by the Bureau of Labor Statistics at 8:30 a.m. EDT, is widely expected to show that 161,000 jobs were added during the month, an increase from 114,000 jobs added in July. The jobless rate is expected to tick down from 4.2% to 4.3%. The average hourly wages, an inflation measure, may have increased by 3.7%, slightly up from the 3.6% growth in July.</li>
<li>New York Fed President John Williams is due to speak at 8:45 a.m. EDT and Fed Governor Christopher Waller at 11 a.m. EDT. </li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Broadcom fell about 8%<a href="https://www.benzinga.com/premarket"> in premarket trading</a> as traders reacted negatively to the chipmaker&#8217;s fourth-quarter revenue guidance. </li>
<li>Other stocks moving on earnings are Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) (up about 4%), Smith &amp; Wesson Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) (down over 7%), UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) (over 9%) and Zumiez Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZUMZ#NASDAQ">ZUMZ</a>) (up over 4%).</li>
<li>ABM Industries Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABM#NYSE">ABM</a>) and Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) are among the companies reporting <a href="https://www.benzinga.com/earnings">quarterly results ahead of the market opening.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures moved sideways under the $70 level and gold futures are modestly higher, approaching the $2,550 level, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded below $56K level and were lower. The 10-year Treasury note yield slid 3.4 points to 3.699%. 
Most Asian markets fell sharply ahead of the U.S. jobs data, while Hong Kong did not trade due to Super Typhoon Yagi threat. European stocks also pulled back sharply in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40724455/peter-schiff-says-illusion-of-a-strong-labor-market-fading-faster-than-kamala-harris-post-convention">Peter Schiff Says &#8216;Illusion Of A Strong Labor Market&#8217; Fading Faster Than Kamala Harris&#8217; Post-Convention Popularity Spike As Job Openings Slide To Lowest In 3.5 Years</a></li>
</ul>

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Movers

Tech

$BTC

AVGO

PATH

SMAR

SWBI

ZUMZ

US Stocks Set For Steep Fall Amid Heightened Anxiety Ahead Jobs Data, VIX Surges: Strategist Flags 2 Reasons Why He Expects More Volatility Ahead

Wall Street expects a year-over-year decline in earnings on lower revenues when Genesco (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gco#NYSE">GCO</a>) reports results for the quarter ended July 2024. While this widely-known consensus outlook is important in gauging the company&#39;s earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 6. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management&#39;s discussion of business conditions on the earnings call, it&#39;s worth handicapping the probability of a positive EPS surprise.
<h2>Zacks Consensus Estimate</h2>
This seller of footwear, hats, clothing and accessories is expected to post quarterly loss of $1.12 per share in its upcoming report, which represents a year-over-year change of -31.8%.
Revenues are expected to be $512.19 million, down 2.1% from the year-ago quarter.
<h2>Estimate Revisions Trend</h2>
The consensus EPS estimate for the quarter has been revised 9.68% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
<h2>Earnings Whisper</h2>
Estimate revisions ahead of a company&#39;s earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model&#39;s predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
<h2>How Have the Numbers Shaped Up for Genesco?</h2>
For Genesco, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company&#39;s earnings prospects. This has resulted in an Earnings ESP of +3.14%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination indicates that Genesco will most likely beat the consensus EPS estimate.
<h2>Does Earnings Surprise History Hold Any Clue?</h2>
While calculating estimates for a company&#39;s future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it&#39;s worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Genesco would post a loss of $2.66 per share when it actually produced a loss of $2.10, delivering a surprise of +21.05%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
<h2>Bottom Line</h2>
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it&#39;s worth checking a company&#39;s Earnings ESP and Zacks Rank ahead of its quarterly release.
Genesco appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
<h2>An Industry Player&#39;s Expected Results</h2>
Another stock from the Zacks Retail - Apparel and Shoes industry, J.Jill (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jill#NYSE">JILL</a>), is soon expected to post earnings of $0.94 per share for the quarter ended July 2024. This estimate indicates a year-over-year change of -14.6%. Revenues for the quarter are expected to be $155.13 million, down 0.4% from the year-ago quarter.
The consensus EPS estimate for J.Jill has remained unchanged over the last 30 days. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -1.33%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that J.Jill will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
<a href="https://www.zacks.com/stock/news/2329640/genesco-gco-expected-to-beat-earnings-estimates-should-you-buy?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_9-2329640">To read this article on Zacks.com click here.</a>

Retail Sales

Small Cap

Analyst Ratings

JILL

Genesco Expected to Beat Earnings Estimates: Should You Buy?

BNED

CHWY

CRMT

SCVL

URBN

VSCO

WOOF

Shares of specialty retail companies are trading higher following recent CPI data.

Genesco Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) shares are trading higher after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b39107478/genesco-inc-reports-fiscal-2025-first-quarter-results" rel="noreferrer noopener">better-than-expected first-quarter FY25 earnings.</a>
The company reported a first-quarter sales decline of 5.3% year-on-year to $457.60 million, beating the analyst&#8217;s consensus estimate of $445.05 million.
The sales decrease was driven by a decline in store sales, decreased wholesale sales and the impact of net store closings. Total comparable sales declined 5%.
Comparable e-commerce sales increased 3%; comparable store sales decreased 7%. E-commerce sales represented 23% of retail sales compared to 21% last year.
Overall sales dropped 5% at Journeys, slipped 1% at Schuh,&nbsp; 4% at Johnston &amp; Murphy, and decreased 25% at Genesco Brands.
Adjusted EPS of $(2.10) <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the analyst consensus estimate of $(2.66)</a>.
Gross margin remained flat at 47.3%. The operating loss for the quarter was $(32.1) million compared to a loss of $(22.9) million a year ago.
The company held $19.2 million in cash and equivalents as of May 4. Inventories decreased 17% a year-over-year basis.
During the quarter, the company opened one store and closed 21 stores. The company ended the quarter with 1,321 stores compared with 1,396 stores last year.
&#8220;Against continued headwinds in the operating environment, we executed to our strategic plan to deliver top and bottom-line results that were ahead of our expectations, led by our Journeys business,&#8221; said Board Chair, President and CEO Mimi E. Vaughn.
Outlook Reaffirmed: Genesco sees fiscal 2025 adjusted EPS of $0.60 – $1.00, against a consensus of $0.64.&nbsp;
The company expects fiscal 2025 total sales to decrease 2% to 3% compared to fiscal 2024, or down 1% to 2% excluding the 53rd week in fiscal 2024.
Price Action: GCO shares are trading higher by 14.9% at $31.36 at the last check Friday.
Photo via Shutterstock

General

Why Branded Footwear Retailer Genesco's Shares Are Shooting Higher Today

Stocks look set to end May on a positive note, even as index futures pointed to a negative opening on Friday. But sentiment could reverse if <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/39096164/feds-favorite-inflation-data-due-friday-how-could-markets-react-to-surprises" target="_blank" rel="noreferrer noopener">important inflation data due ahead of the market open appeases Wall Street.</a> The inflation data assumes importance as it could have a bearing on the June 11-12 Federal Reserve&#8217;s rate-setting meeting, with the May consumer price inflation report due only on May 12. Reactions to earnings, especially from the tech and retail spaces, have been mixed.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.48%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.31%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.15%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.57%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.26% to $521.27, and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded down 0.47% at $449.44, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Previous Session
Wall Street ended lower on Thursday as traders expressed disappointment over weak economic data and weak earnings reports. The preliminary first-quarter GDP report showed a downward revision to the advance estimate from 1.6% to 1.3% and pending home sales fell sharply in April. Although the weak data sent bond yields lower for the first time in four sessions, traders fretted over a potential hard landing due to the lagged impact of the aggressive rate hikes.
The Dow Jones Industrial Average fell for a third straight session and ended at the lowest since May 1, while the S&amp;P 500 Index and the Nasdaq Composite Index extended their losing streak to two, with the former settling at the lowest level since May 13. On the other hand, small-cap stocks climbed strongly.
Communication services and IT stocks fell sharply, while most other S&amp;P 500 sector classes advanced, led by defensive real estate and utility stocks.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.08%</td>
<td>16,737.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.60%</td>
<td>5,235.48</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.86%</td>
<td>38,111.48</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.00%</td>
<td>2,056.60</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The S&amp;P 500 Index is up about 4% so far this May, and LPL Chief Technical Strategist Adam Turnquist said April&#8217;s 4.2% has been pared because of the rebound seen this month. The strategist, however, is not positive about the near term. &#8220;Peaking ahead to June, seasonality trends are hardly anything to get excited about. Since 1950, the S&amp;P 500 has generated an average and median price return in June of 0.1%, with 55% of months posting positive results,&#8221; he said.
For the remainder of the year, the S&amp;P 500 posted average and median gains of 4.9% and 6.4%, respectively. Following a positive May, the average and median gains bump up to 5.4% and 6.8%, Turnquist said.
Upcoming Economic Data:
<ul>
<li>The Bureau of Economic Analysis is scheduled to release the personal income and spending report at 8:30 a.m. EDT. Economists, on average, expect personal income and spending to increase at a month-over-month rate of 0.3% and 0.4%, respectively, in April. In March, the rates were at 0.5% and 0.8%. The Fed&#8217;s favorite inflation gauge &#8211; the core personal price consumption expenditure index may have increased by 0.2% and 2.8%, respectively. This compares to March increases of 0.3% and 2.8%, respectively. The consensus estimate for the month-over-month and year-over-year rates for the headline PCE index are 0.3% and 2.7%.</li>
<li>The Chicago-ISM will release the results of its regional manufacturing survey at 8:45 a.m. EDT. The Chicago business barometer may have improved from 37.9 in April to 40.8 in May. The reading, despite showing an improvement, suggests the sector is still in contraction territory.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) plunged over 15% <a href="https://www.benzinga.com/premarket">in premarket trading </a>following the company&#8217;s earnings announcement.</li>
<li>Other stocks moving on earnings are Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) (up over 16%), Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) (up over 13%), &nbsp;Cooper Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>) (up over 4%), Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE">GPS</a>) (up over 23%), Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) (down over 5%), MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) (down 25%), Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) (down nearly 7.5%), PagerDuty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) (up nearly 11%), SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) (down nearly 14%), Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) (up over 7%) and Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) (up nearly 17%).</li>
<li>Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) is due to release its <a href="https://www.benzinga.com/calendars/earnings">quarterly results ahead of the market opening.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose modestly, while gold futures edged down. The U.S. 10-year Treasury note yielded 4.56%, a slight increase from the 4.55% at which it ended Thursday. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) firmed up past the $68K level.
The major Asian markets closed mixed, as traders mulled over some domestic economic data. While weak private sector activity data sunk stocks in China and Hong Kong, the Japanese market received support from sector-specific strength.
European stocks were mixed in early trading.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39106055/5-meal-frenzy-not-enough-why-this-analyst-sees-appetite-for-mcdonalds-stock-despite">$5 Meal Frenzy Not Enough? Why This Analyst Sees Appetite for McDonald&#8217;s Stock Despite Value War</a>
Photo generated using Midjourney

AMBA

ASAN

DELL

MRVL

ULTA

Wall Street Gears Up For Strong May Finish Even As Futures Slip On Inflation Data Jitters: Analyst Predicts June Slowdown Before H2 Surge

Genesco Sees FY25 Sales decline Of  (2%) - (3%); EPS of $0.60 - $1.00 Vs. $0.63 Est.

Genesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) reported quarterly losses of $(2.10) per share which beat the analyst consensus estimate of $(2.70) by 22.22 percent. This is a 32.08 percent decrease over losses of $(1.59) per share from the same period last year. The company reported quarterly sales of $457.60 million which beat the analyst consensus estimate of $445.05 million by 2.82 percent. This is a 5.32 percent decrease over sales of $483.33 million the same period last year.

Genesco Q1 Adj $(2.10) Beats $(2.70) Estimate, Sales $457.60M Beat $445.05M Estimate

The CNN Money Fear and Greed index showed further decline in the overall market sentiment, but the index remained in the &#8220;Neutral&#8221; zone on Thursday.
U.S. stocks settled lower on Thursday, with the Dow Jones index falling more than 300 points during the session. However, all three major indices are on course to record gains for May, with the S&amp;P 500 gaining 4%, and the Dow adding around 0.8% this month.
On the economic data front, U.S. initial jobless claims increased by 3,000 to 219,000 in the week ending May 25, compared to market estimates of 218,000. The U.S. economy grew an annualized 1.3% in the first quarter, compared to 3.4% in the prior quarter. The U.S. trade deficit in goods increased to $99.41 billion in April following a revised $92.29 billion gap in the earlier month.
Investors are awaiting data on PCE inflation for April, which will be released today.
Shares of Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) dipped around 20% on Thursday after the company reported upbeat earnings for the first quarter, while sales missed estimates. The company issued weak guidance for the second quarter. 
Best Buy Co., Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) shares jumped over 13% after the company reported better-than-expected earnings for its fiscal first quarter. UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) tumbled 34% after the company reported first-quarter earnings, issued weak revenue guidance and announced a CEO transition.
Most sectors on the S&amp;P 500 closed on a positive note, with real estate, utilities and materials stocks recording the biggest gains on Thursday. However, information technology and communication services bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 330 points to 38,111.48 on Thursday. The S&amp;P 500 fell 0.60% at 5,235.48, while the Nasdaq Composite dipped 1.08% at 16,737.08 during Thursday's session.
Investors are awaiting earnings results from Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) and BRP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOOO#NASDAQ">DOOO</a>) today.
At a current reading of 45.1, the index remained in the &#8220;Neutral&#8221; zone on Thursday, versus a prior reading of 46.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/top-stories/24/05/39084892/jim-cramer-doesnt-care-that-nelson-peltz-is-out-of-disney-says-traders-should-avoid-this-real-estate">Jim Cramer Doesn&#8217;t Care That Nelson Peltz Is Out Of Disney, Says Traders Should Avoid This Real Estate Stock</a>

DOOO

Investor Sentiment Falls Further Ahead Of Inflation Data; Dow Tumbles Over 300 Points

With U.S. stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Genesco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) to report a quarterly loss at $2.70 per share on revenue of $445.65 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Genesco shares fell 1.1% to $26.99 in after-hours trading.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) reported upbeat earnings and sales results for the first quarter. Dell's fiscal first-quarter revenue increased 6% year-over-year to $22.24 billion, beating the consensus estimate of $21.67 billion, according to Benzinga Pro. The company reported adjusted earnings of $1.27 per share, beating analyst estimates of $1.26 per share. Dell shares dipped 17.8% to $139.76 in the after-hours trading session.</li>
<li>Analysts are expecting BRP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOOO#NASDAQ">DOOO</a>) to post quarterly earnings at 66 cents per share on revenue of $1.46 billion. The company will release earnings before the markets open. BRP shares gained 0.2% to $66.50 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) posted a narrower-than-expected loss for its first quarter, while sales topped estimates. Asana shares surged 8.9% to $14.30 in the after-hours trading session.</li>
<li>Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) reported stronger-than-expected earnings for its third quarter on Thursday. Costco shares slipped 1.8% to $801.00 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/top-stories/24/05/39084892/jim-cramer-doesnt-care-that-nelson-peltz-is-out-of-disney-says-traders-should-avoid-this-real-estate">Jim Cramer Doesn&#8217;t Care That Nelson Peltz Is Out Of Disney, Says Traders Should Avoid This Real Estate Stock</a>

COST

Dell, Asana And 3 Stocks To Watch Heading Into Friday

Shares of Marvell Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrvl#NASDAQ">MRVL</a>) fell sharply during Friday&rsquo;s session after the company reported fourth-quarter financial results and issued weak Q1 guidance.
Marvell said fourth-quarter revenue increased 1% year-over-year to $1.427 billion, which beat the consensus estimate of $1.42 billion. The chip designer reported quarterly earnings of 46 cents per share, which was in line with analyst estimates.
Marvell sees first-quarter revenue of $1.15 billion, plus or minus 5%, versus estimates of $1.371 billion. The company sees first-quarter adjusted earnings of 23 cents per share, plus or minus 5 cents per share, versus estimates of 40 cents per share. The company authorized a $3 billion buyback.
Marvell Technology shares dipped 9.6% to $76.91 on Friday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
Ainos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aimd#NASDAQ">AIMD</a>) jumped 140% to $2.6899 after dipping 18% on Thursday.
Psyence Biomedical Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pbm#NASDAQ">PBM</a>) shares climbed 139% to $3.0350. Psyence Biomedical recently announced its subsidiary, Psyence Australia, received Human Research Ethics Committee approval to initiate its Phase IIb study.
Safe and Green Development Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgd#NASDAQ">SGD</a>) shares jumped 138% to $1.57 after the company announced financing for the Norman Berry Expansion in Atlanta, Georgia.
MIRA Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mira#NASDAQ">MIRA</a>) shares climbed 48.5% to $1.36. MIRA Pharmaceuticals, last month, announced a research collaboration with Pharmaseed to research and evaluate Ketamir for patients with major depressive disorder and post-traumatic stress disorder.
CERo Therapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cero#NASDAQ">CERO</a>) shares climbed 35.4% to $4.17 after surging over 20% on Thursday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.
Willdan Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wldn#NASDAQ">WLDN</a>) gained 30.4% to $25.89 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Also, the company secured a contract worth approximately $30 million to $50 million over three years.
The Joint Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jynt#NASDAQ">JYNT</a>) gained 29% to $11.80 following fourth-quarter results.
Smith &amp; Wesson Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swbi#NASDAQ">SWBI</a>) jumped 25.8% to $16.91 after the company reported better-than-expected third-quarter financial results.
Research Frontiers Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/refr#NASDAQ">REFR</a>) climbed 25.6% to $1.42 following fourth-quarter results.
Gulf Island Fabrication, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gifi#NASDAQ">GIFI</a>) shares gained 24.1% to $6.43 after the company reported a year-over-year increase in fourth-quarter revenue results.
Grifols, S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NASDAQ">GRFS</a>) gained 22.7% to $6.89 after the company announced it published its consolidated annual accounts for 2023.
DoubleDown Interactive Co., Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ddi#NASDAQ">DDI</a>) gained 21.6% to $14.25.
Dogness (International) Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dogz#NASDAQ">DOGZ</a>) gained 18.6% to $7.98.
Kidpik Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pik#NASDAQ">PIK</a>) gained 18.3% to $3.0177.
America&#39;s Car-Mart, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crmt#NASDAQ">CRMT</a>) jumped 16.5% to $72.56 following third-quarter results.
Porch Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prch#NASDAQ">PRCH</a>) rose 16.1% to $3.6099 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.
Samsara Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iot#NYSE">IOT</a>) gained 14.3% to $39.28 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.
Viracta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virx#NASDAQ">VIRX</a>) shares gained 13.5% to $0.9200 following fourth-quarter results.
Aeva Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeva#NASDAQ">AEVA</a>) rose 12.6% to $1.34.
Adaptimmune Therapeutics plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adap#NASDAQ">ADAP</a>) gained 12.1% to $1.95. Adaptimmune Therapeutics recently reported better-than-expected quarterly EPS results.
HCI Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hci#NYSE">HCI</a>) gained 11.3% to $110.42 after the company reported better-than-expected fourth-quarter financial results.
NuScale Power Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smr#NYSE">SMR</a>) jumped 10.5% to $4.9289.
Redfin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rdfn#NASDAQ">RDFN</a>) jumped 9.6% to $7.10.
reAlpha Tech Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aire#NASDAQ">AIRE</a>) rose 8.8% to $1.3599. reAlpha Tech, last month, appointed Michael Frenz as CFO and Mike Logozzo as President and COO.
Carnival Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>) gained 5% to $16.44.
<h3>Losers</h3>
Amylyx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amlx#NASDAQ">AMLX</a>) shares fell 80.7% to $3.6596 after the company announced its PHOENIX phase 3 trial of AMX0035 for amyotrophic lateral sclerosis did not meet its primary endpoint and there was no statistical significance seen in secondary endpoints.
BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) fell 30.8% to $2.6006 after the company reported worse-than-expected fourth-quarter financial results.
Next.e.GO N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egox#NASDAQ">EGOX</a>) tumbled 28.6% to $0.0819.
Critical Metals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crml#NASDAQ">CRML</a>) fell 27.7% to $7.95.
Swvl Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swvl#NASDAQ">SWVL</a>) fell 26.3% to $5.45.
Immuron Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imrn#NASDAQ">IMRN</a>) shares dipped 24.7% to $3.4250 after jumping 161% on Thursday.
AerSale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asle#NASDAQ">ASLE</a>) fell 24.4% to $7.11 after the company reported worse-than-expected fourth-quarter financial results.
CarParts.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prts#NASDAQ">PRTS</a>) fell 24.3% to $1.8999 following fourth-quarter results.
Mobix Labs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mobx#NASDAQ">MOBX</a>) fell 20.1% to $1.39.
Nxu, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxu#NASDAQ">NXU</a>) fell 19% to $0.8001 after surging 28% on Thursday. Nxu recently announced it successfully charged a Tesla Cybertruck.
Brera Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brea#NASDAQ">BREA</a>) shares fell 16.9% to $1.62. Brera Holdings shares jumped 91% on Thursday after the company announced that its Executive Chairman, Daniel McClory, acquired a majority stake in the company. 
Custom Truck One Source, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctos#NYSE">CTOS</a>) dipped 15.3% to $5.26 after the company reported mixed quarterly financial results.
Nexalin Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxl#NASDAQ">NXL</a>) fell 15.1% to $0.4627. Nexalin Technology recently announced results of a clinical study of its Gen-2 tACS device for the treatment of chronic insomnia.
Runway Growth Finance Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rway#NASDAQ">RWAY</a>) fell 13.5% to $11.68 following downbeat quarterly results.
Domo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/domo#NASDAQ">DOMO</a>) fell 12.7% to $9.92 after the company issued soft first-quarter and FY25 guidance.
MediaAlpha, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/max#NYSE">MAX</a>) declined 12.4% to $19.05 after the company announced a secondary offering of 3 million shares.
Genesco Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gco#NYSE">GCO</a>) fell 11.7% to $25.84 after the company&#39;s reported a fourth-quarter EPS miss and issued weak FY25 guidance.
Delek Logistics Partners, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dkl#NYSE">DKL</a>) fell 11.3% to $39.51 after the company priced a public offering of 3,116,884 common units at $38.50 per unit.
Grom Social Enterprises, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grom#NASDAQ">GROM</a>) fell 11% to $1.13 after jumping 65% on Thursday. The company announced that it entered into a non-binding letter of intent to acquire Arctic7.
Traeger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cook#NYSE">COOK</a>) fell 10.5% to $2.11 after the company reported worse-than-expected fourth-quarter adjusted EPS results and issued FY24 revenue guidance below estimates.
Aquestive Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aqst#NASDAQ">AQST</a>) dipped 10% to $5.11 following fourth-quarter results.
Petr&oacute;leo Brasileiro S.A. - Petrobras (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>) shares fell 9.6% to $15.10 as the company reported a 6.3% year-over-year decline in its fourth-quarter net recurring profit.
Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) fell 7.5% to $727.08 following mixed second-quarter results.
MongoDB, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdb#NASDAQ">MDB</a>) declined 6.4% to $385.82 after the company issued weak FY25 guidance.
Icahn Enterprises L.P. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iep#NASDAQ">IEP</a>) fell 4.7% to $17.85.
RadNet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rdnt#NASDAQ">RDNT</a>) dipped 4.1% to $46.54. RadNet priced its public offering of 4.55 million common stock at $44 per share.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37553898/cramer-says-sprout-social-is-in-a-hot-spot-but-this-energy-stock-is-too-down-and-out"> Cramer Says Sprout Social Is In A &#39;Hot Spot,&#39; But This Energy Stock Is &#39;Too Down And Out&#39; </a>

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Why Marvell Technology Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Genesco Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) shares are plummeting after reporting fourth-quarter FY24 sales growth of 2% year-on-year to $738.95 million, beating the<a href="https://www.benzinga.com/pressreleases/24/03/b37555879/genesco-inc-reports-fiscal-2024-fourth-quarter-and-full-year-results" target="_blank" rel="noreferrer noopener"> analyst consensus estimate of $705.66 million</a>.
Excluding the 14th week, sales would have decreased 2% for the fourth quarter of fiscal 2024. Total comparable sales declined 4%.
Overall sales dropped 2% at Journeys, grew 6% at Schuh, up 9% at Johnston &amp; Murphy, and increased 24% at Genesco Brands.
Adjusted EPS of $2.59&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missed the analyst consensus of $3.04.</a>
Gross margin was 46.3%, a 10 basis points contraction Y/Y. Operating margin was 5%, and operating income for the quarter was $37.3 million.
The company held $35.2 million in cash and equivalents as of February 3, 2024. Inventories decreased 17.3% on a Y/Y basis.
The company closed 94 Journeys stores in fiscal 2024 and targets up to 50 more closures in fiscal 2025.
"Although the Holiday season started off positively, consumers subsequently shopped almost exclusively for key footwear items with a notable shift away from boots, putting more pressure on our core product assortment than we anticipated at the beginning of Q4," said Board Chair, President and CEO Mimi E. Vaughn.
Outlook: Genesco sees fiscal 2025 adjusted EPS of $0.60 &#8211; $1.00, against a consensus of $2.53.&nbsp;
The company expects fiscal 2025 total sales to decrease 2% to 3% compared to fiscal 2024, or down 1% to 2% excluding the 53rd week in fiscal 2024.
Price Action: GCO shares are trading lower by 12% at $25.75 in premarket on the last check Friday.
Image by Lumen Photos via Shutterstock

Why Branded Footwear Retailer Genesco's Shares Are Tumbling Today

Genesco shares are trading lower after the company's reported a Q4 EPS miss and issued weak FY25 guidance.

Genesco Sees FY25 Adj EPS Of $0.60 - $1.00 Vs. $2.53 Est; Expects FY25 Sales To Decline 2% - 3%.

Genesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCO#NYSE">GCO</a>) reported quarterly adjusted earnings of $2.59 per share which missed the analyst consensus estimate of $3.04 by 14.8 percent. This is a 15.36 percent decrease over earnings of $3.06 per share from the same period last year. The company reported quarterly sales of $738.95 million which beat the analyst consensus estimate of $705.66 million by 4.72 percent. This is a 1.92 percent increase over sales of $725.02 million the same period last year.

Genesco Q4 Adj EPS $2.59 Misses $3.04 Estimate, Sales $738.95M Beat $705.66M Estimate

Contracts

Press Releases

JOHNSTON & MURPHY NAMES WOLFGANG AOR AFTER COMPETITIVE PITCH

Genesco to Report Fourth Quarter Fiscal 2024 Results and Hold Conference Call on March 8, 2024

Genesco Inc. Reports Fiscal 2024 Fourth Quarter and Full Year Results

JOHNSTON & MURPHY UNVEILS NEW LOOK WITH LATEST BRAND CAMPAIGN

Genesco to Report First Quarter Fiscal 2025 Results and Hold Conference Call on May 31, 2024

Genesco Inc. Reports Fiscal 2025 First Quarter Results

JOHNSTON & MURPHY REVAMPS TWO MALL LOCATIONS

Journeys Names Stacy Doren Executive Vice President and Chief Marketing Officer

Genesco to Report Second Quarter Fiscal 2025 Results and Hold Conference Call on September 6, 2024

Genesco Inc. Reports Fiscal 2025 Second Quarter Results

STGW

American Eagle Outfitters, Inc. Common Stock

American Eagle Outfitters

a.k.a. Brands Holding

Abercrombie & Fitch

Buckle

Boot Barn Holdings

Burlington Stores

Caleres

Torrid Holdings

Designer Brands Inc. Class A Common Stock

Designer Brands

Foot Locker

Guess

J.Jill

Lands' End

MYT Netherlands Parent B.V. American Depositary Shares, each representing one Ordinary Share

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