Genesco Inc. (GCO - Free Report) is likely to register a decline in both the top and the bottom lines from the respective prior-year quarter’s reported numbers in its first-quarter fiscal 2024 results on May 25, before the opening bell.
The Zacks Consensus Estimate for revenues is pegged at $484 million, indicating a 7.1% decrease from the year-ago fiscal quarter’s reported figure. Further, the consensus estimate for quarterly earnings has been stable in the past 30 days at a loss of $1.04 per share. The figure compares unfavorably with earnings of 44 cents per share in the year-earlier quarter.
GCO delivered an earnings surprise of 1.3% in the last reported quarter. This specialty retailer of consumer products has a trailing four-quarter earnings surprise of 180.6%, on average.
Key Aspects to Note
Genesco’s quarterly performance is likely to have been affected by a challenging operating environment including higher promotional activity and inflationary pressures. Also, any deleverage in SG&A expenses and stiff competition remain headwinds.
On its last earnings call, management cited that it expects additional pressure on sales this fiscal year, mainly in the first half. Also, it cited that it expects cost pressures to persist.
On a positive note, management has been making actions to enhance the customer experience and reduce costs to drive overall growth. In addition, resiliency in the company’s footwear-focused strategy and gains from the multi-channel operating model are tailwinds. The company has been experiencing record top-line results at Schuh and Johnston & Murphy brands for a while now. These factors are likely to have provided some cushion to the company’s performance in the quarter under review.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Genesco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat which is not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
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Genesco Inc. (GCO - Free Report) is likely to register a decline in both the top and the bottom lines from the respective prior-year quarter’s reported numbers in its first-quarter fiscal 2024 results on May 25, before the opening bell.
The Zacks Consensus Estimate for revenues is pegged at $484 million, indicating a 7.1% decrease from the year-ago fiscal quarter’s reported figure. Further, the consensus estimate for quarterly earnings has been stable in the past 30 days at a loss of $1.04 per share. The figure compares unfavorably with earnings of 44 cents per share in the year-earlier quarter.
GCO delivered an earnings surprise of 1.3% in the last reported quarter. This specialty retailer of consumer products has a trailing four-quarter earnings surprise of 180.6%, on average.
Key Aspects to Note
Genesco’s quarterly performance is likely to have been affected by a challenging operating environment including higher promotional activity and inflationary pressures. Also, any deleverage in SG&A expenses and stiff competition remain headwinds.
On its last earnings call, management cited that it expects additional pressure on sales this fiscal year, mainly in the first half. Also, it cited that it expects cost pressures to persist.
On a positive note, management has been making actions to enhance the customer experience and reduce costs to drive overall growth. In addition, resiliency in the company’s footwear-focused strategy and gains from the multi-channel operating model are tailwinds. The company has been experiencing record top-line results at Schuh and Johnston & Murphy brands for a while now. These factors are likely to have provided some cushion to the company’s performance in the quarter under review.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Genesco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat which is not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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