Genesco Inc. (GCO) reported third-quarter earnings from continuing operations of $11.5 million or $0.50 per share, compared to earnings from continuing operations of $9.0 million or $0.43 per share in the year ago quarter. Net earnings for the quarter were $11.44 million, up from $8.96 million in the same quarter last year.
Adjusted earnings from continuing operations were $12.3 million, or $0.53 per share, compared to earnings from continuing operations of $9.5 million, or $0.43 per share, for the third quarter of fiscal 2009.
Net sales for the third quarter were $390.30 million, compared to $389.77 million in the year ago quarter. Comparable store sales in the third quarter of fiscal 2010 decreased by 2%. Comparable store sales in the Journeys Group decreased by 2%, the Hat World Group increased by 1%, Underground Station decreased by 6%, and Johnston & Murphy Retail decreased by 2%.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share on revenues of $388.41 million for the quarter. Analysts' estimates typically exclude special items.
The company expects fourth quarter earnings to be in the range of $1.07 - $1.13 per share, and comparable store sales to be flat to slightly positive, compared with -5% last year. Analysts expect the company to report earnings of $1.15 per share for the fourth-quarter.
The company raised its fiscal 2010 earnings guidance to a range of $1.78 - $1.84 per share, from the prior range of $1.70 - $1.80 per share. Analysts expect the company to report earnings of $1.75 per share for fiscal 2010.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.