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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Genesco Inc (NYSE:GCO) reported fourth-quarter FY22 sales growth of 14% year-on-year, to $727.66 million, beating the consensus of $726.57 million. Same-store sales rose 10% over last year.
- Overall sales were up 2% at Journeys, grew 33% at Schuh, up 51% at Johnston & Murphy, and up 98% at Licensed Brands versus Q4 FY21. While sales were up 2% at Journeys, grew 15% at Schuh, and up 263% at Licensed Brands versus Q4 FY20.
- E-commerce sales increased 36% from Q4 two years ago.
- Adjusted EPS of $3.48 beat the consensus of $2.64.
- The gross profit rose 21.9% Y/Y to $355.7 million with a gross margin of 48.9%, a 310 basis points expansion.
- The operating margin was 11.5%, and operating income for the quarter rose 33.2% to $83.4 million.
- The company held $320.5 million in cash and equivalents as of January 29, 2022. Inventories decreased 4% Y/Y.
- Outlook: Genesco sees FY23 sales growth of 2% - 4% Y/Y. The company expects FY23 adjusted EPS of $7.00 - $7.75, with an expectation that EPS will be near mid-point, against the consensus of $7.13.
- Price Action: GCO shares are trading higher by 9.05% at $68.77 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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