Last $76.27 USD
Change Today -1.59 / -2.04%
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genesco inc (GCO) Key Developments

Genesco Inc. Reports Consolidated Earnings Results for the First Quarter Ended May 3, 2014; Provides Earnings Guidance for the Full Year Ending January 31, 2015

Genesco Inc. reported consolidated earnings results for the first quarter ended May 3, 2014. The company reported earnings from continuing operations for the first quarter ended May 3, 2014, of $14.1 million, or $0.60 per diluted share, compared to earnings from continuing operations of $14.5 million, or $0.61 per diluted share, for the first quarter ended May 4, 2013. Net sales for the first quarter of Fiscal 2015 increased 6.3% to $629 million from $591 million in the first quarter of fiscal 2014. Consolidated first quarter 2015 comparable sales, including same store sales and comparable e-commerce and catalog sales, increased 1%, with a 1% increase in the Journeys Group, a 1% increase in the Lids Sports Group, a 1% decrease in the Schuh Group, and a 1% decrease in the Johnston & Murphy Group. Earnings from operations was $23.718 million against $25.724 million a year ago. Earnings from continuing operations before income taxes was $23.017 million against $24.685 million a year ago. Net earnings were $13.973 million or $0.59 diluted per share against $14.410 million or $0.61 diluted per share a year ago. The company provided earnings guidance for the full year ending January 31, 2015. The company expects earnings from continuing operations was $119.299 million or $5.03 per share to $115.421 million or $4.87 per share and adjusted forecasted earnings from continuing operations was $131.737 million or $5.55 per share to $128.174 million or $5.40 per share. The forecasted tax rate for fiscal 2015 is approximately 37.0% excluding a FIN 48 discrete item of $0.1 million. EPS reflects 23.8 million share count for fiscal 2015 which includes common stock equivalents.

Genesco Inc., Q1 2015 Earnings Call, May 30, 2014

Genesco Inc., Q1 2015 Earnings Call, May 30, 2014

Genesco Inc., Annual General Meeting, Jun 26, 2014

Genesco Inc., Annual General Meeting, Jun 26, 2014., at 10:00 Central Standard Time. Location: The company’s executive offices, Genesco Park. Agenda: To approve proposal to elect 10 directors; to approve non-binding, advisory vote on the company’s executive compensation; to approve proposal to ratify the appointment of Ernst & Young LLP as independent registered public accounting firm to the company for the current fiscal year; and to approve any other business that properly comes before the meeting or any adjournment or postponement thereof.

Genesco Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended February 1, 2014; Reports Impairment Charges for the Fourth Quarter Ended February 1, 2014; Provides Earnings Guidance for the Fiscal 2015

Genesco Inc. reported consolidated earnings results for the fourth quarter and fiscal year ended February 1, 2014. For the quarter, the company reported net sales of $792.506 million against $796.693 million a year ago. Earnings from operations were $75.204 million, compared to $62.807 million for the last year. Earnings from continuing operations before income taxes were $73.998 million, compared to $61.401 million for the last year. Earnings from continuing operations were $42.212 million, compared to $38.913 million for the last year. Net earnings were $42.153 million or $1.89 per share, compared to $38.763 million or $1.63 per diluted share for the last year. Adjusted earnings from continuing operations were $51.011 million or $2.16 per share against $51.38 million or $2.16 per share a year ago. Comp sales for the quarter increased by 1%, with direct business up 10% on top of 17% last year. Fourth quarter capital expenditures were $22.8 million and depreciation and amortization was $17.6 million. For the year, the company reported net sales of $2,624.972 million against $2,604.817 million a year ago. Earnings from operations were $163.435 million, compared to $169.863 million for the last year. Earnings from continuing operations before income taxes were $158.86 million, compared to $164.832 million for the last year. Earnings from continuing operations were $92.982 million, compared to $112.897 million for the last year. Net earnings were $92.653 million or $3.92 per diluted share, compared to $112.435 million or $4.68 per diluted share for the last year. Adjusted earnings from continuing operations were $120.272 million or $5.09 per share against $121.775 million or $5.06 per share a year ago. For the full year, capital expenditures were $98.5 million and depreciation and amortization was $67.1 million. Based on current visibility, the company expected adjusted fiscal 2015 diluted earnings per share to be in the range of $5.40 to $5.55, which represents a 6% to 9% increase over fiscal 2014's adjusted earnings per share of $5.09. Consistent with previous guidance, these expectations do not include expected non-cash asset impairments and other charges, which are estimated in the range of $3.1 million to $4.5 million pretax, or $0.08 to $0.12 per share, after tax, in fiscal 2015. For the fiscal 2015, the company’s forecasted earnings from continuing operations will be in the range of $120.191 million or $5.08 per share to $115.699 million or $4.89 per share. The company’s forecasted earnings from continuing operations will be in the range of $131.299 million or $5.55 per share to $127.748 million or $5.40 per share. The company reported impairment charges for the fourth quarter ended February 1, 2014 were $365,000 or $0.02 per share compared to $432,000 or $0.02 per share for the last year.

Genesco Inc., Q4 2014 Earnings Call, Mar 13, 2014

Genesco Inc., Q4 2014 Earnings Call, Mar 13, 2014

 

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