UPDATE: Genesco Posts Upbeat Q3 Profit, Raises 2013 Forecast

Genesco

reported a rise in its third-quarter profit. Genesco's quarterly profit surged to $41 million, or $1.71 per share, versus $26.2 million, or $1.09 per share, in the year-earlier period. Its adjusted profit came in at $1.44 per share. Its sales climbed 7.8% to $664.5 million from $616.5 million. However, analysts were expecting earnings of $1.33 per share on sales of $659.9 million. Genesco raised its 2013 profit forecast to $5.00 to $5.08 per share, from its earlier forecast of $4.88 to $5 per share. However, analysts were expecting a profit of $5.02 per share. Genesco shares gained 0.71% to $61.00 in pre-market trading.