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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.