Genesco surprises Wall Street with better-than-expected Q1

Genesco (NYSE:GCO) today reported a narrower-than-expected loss for its fiscal first quarter, with results surpassing Wall Street forecasts for both earnings and revenue.

The Nashville, Tennessee-based specialty retailer announced a net loss of $21.2 million, or $2.02 per share, for the quarter.

When adjusted for one-time gains and costs, the loss stood at $2.05 per share.

This performance favorably compared to the average estimate of three analysts surveyed by Zacks Investment Research, who had anticipated a loss of $2.09 per share.

Genesco, known for its footwear, hats, clothing, and accessories, also exceeded revenue expectations, posting $474 million for the period.

This figure outstripped the average forecast of $463.2 million from the three analysts surveyed by Zacks.

Looking ahead, Genesco projects full-year earnings to be in the range of $1.30 to $1.70 per share.