While reporting financial results for the third quarter on Thursday, specialty retailer Genesco, Inc. (GCO) lowered its adjusted earnings, total sales growth and comparable sales growth guidance for the full-year 2026.
For fiscal 2026, the company now projects adjusted earnings from continuing operations to be around $0.95 per share on total sales growth of about 2 percent, with comparable sales growth of about 3 percent.
Previously, the company expected adjusted earnings from continuing operations in the range of $1.30 to $1.70 per share on total sales growth of 3 to 4 percent, with comparable sales growth of 4 to 5 percent.
On average, three analysts polled expect the company to report revenue growth of 3.51 percent to $2.41 billion for the year.
For the third quarter, the company reported net earnings of $5.36 million or $0.50 per share, compared to a net loss of $18.93 million or $1.76 per share in the prior-year quarter. Earnings from continuing operations were $0.51 per share.
Excluding items, adjusted earnings from continuing operations were $8.44 million or $0.79 per share, compared to $6.59 million or $0.61 per share in the year-ago quarter.
Net sale for the quarter grew to $616.22 million from $596.33 million in the same quarter last year.
The Street was looking for earnings of $0.86 per share on net sales of $617.7 million for the quarter.
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