Footwear, apparel, and accessories retailer Genesco (NYSE:GCO) will be reporting results tomorrow before market hours. Here’s what to look for.
Genesco beat analysts’ revenue expectations by 3.2% last quarter, reporting revenues of $596.3 million, up 2.9% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Genesco a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Genesco’s revenue to grow 6.2% year on year to $785.1 million, improving from the 1.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.31 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Genesco has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Genesco’s peers in the footwear segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Deckers delivered year-on-year revenue growth of 17.1%, beating analysts’ expectations by 5.5%, and Crocs reported revenues up 3.1%, topping estimates by 2.8%. Deckers traded down 20.3% following the results while Crocs was up 22.1%.
Read our full analysis of Deckers’s results here and Crocs’s results here.
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. We prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
