What To Expect From Genesco’s (GCO) Q4 Earnings

Kayode Omotosho /
2024/03/07 2:00 am EST

Footwear, apparel, and accessories retailer Genesco (NYSE:GCO) will be announcing earnings results tomorrow before market open. Here's what you need to know.

Last quarter Genesco reported revenues of $579.3 million, down 4.1% year on year, missing analyst expectations by 1.6%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' earnings estimates.

Is Genesco buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Genesco's revenue to decline 2.8% year on year to $704.9 million, a further deceleration on the 0.4% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.66 per share.

Genesco Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.

Looking at Genesco's peers in the apparel and footwear retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Boot Barn delivered top-line growth of 1.1% year on year, missing analyst estimates by 1.5% and Ross Stores reported revenues up 15.5% year on year, exceeding estimates by 3.6%. Boot Barn traded down 6.2% on the results, and Ross Stores was down 0.7%.

Read our full analysis of Boot Barn's results here and Ross Stores's results here.

There has been positive sentiment among investors in the apparel and footwear retail segment, with the stocks up on average 6.3% over the last month. Genesco is up 2.2% during the same time, and is heading into the earnings with analyst price target of $30.5, compared to share price of $28.6.

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