2023-03-09 06:53:25 ET
- Genesco press release ( NYSE: GCO ): Q4 Non-GAAP EPS of $3.06 beats by $0.06 .
- Revenue of $725M (-0.4% Y/Y) misses by $2.43M .
- Fourth quarter gross margin this year was 46.4%, down 250 basis points compared with 48.9% last year and down 50 basis points compared with Fiscal 2020 at 46.9%.
- The effective tax rate for the quarter was 19.1% in Fiscal 2023 compared to 24.9% in the fourth quarter last year and 21.0% in the fourth quarter of Fiscal 2020.
- For Fiscal 2024, the Company expects : Sales to be flat to up 2%, or down 1% to up 1%, excluding the 53 rd week this year, compared to FY23 vs. estimated growth of 2.21% Y/Y; Adjusted diluted earnings per share from continuing operations in the range of $5.10 to $5.90 vs $6.62 consensus, with an expectation that earnings per share for the year will be near the mid-point of the range.
- Guidance assumes no further share repurchases and a tax rate of 26%
For further details see:
Genesco reports mixed Q4 earnings; initiates FY24 outlook