×
147
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Talent Acquisition Coordinator – India, Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
TLM CONSULTANCY
Merchandising Assistant
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
PR Assistant
Internship · MUMBAI
NIKE
Senior Dev Ops Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
OUTHOUSE JEWELLERY
Communication Designer
Permanent · MUMBAI
OUTHOUSE JEWELLERY
Store Manager
Permanent · NEW DELHI
NIKE
Senior Sap Application Engineer- Sec Tech, Icc - India
Permanent · Bengaluru
MAC
Make up Artist - Mac - Nykaa Pacific Rajori
Permanent · Delhi
By
Reuters
Published
Aug 29, 2013
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Genesco estimates second-quarter results below Wall Street expectations

By
Reuters
Published
Aug 29, 2013

Footwear retailer Genesco Inc, known for its Journeys brand, estimated second-quarter results below analysts' forecast, hurt by challenging sales environment, and the company slashed its adjusted profit outlook for the current year.

Journeys | Source: homepage Genesco

The company, which also sells Schuh footwear and Lids headwear, said its profit estimate for the quarter ended Aug. 3 was based upon a potential change in accounting for certain bonus awards payable under an incentive plan.

Genesco said it may restate certain prior financial statements depending on any charges associated with the accounting changes.

The company said it expects net income to rise to $12.1 million, or 52 cents per share, in the second quarter, from $10.6 million, or 44 cents per share, a year earlier.

On an adjusted basis, Genesco estimated earnings of 56 cents per share.

Analysts on average were expecting a profit of 60 cents per share, according to Thomson Reuters estimations.

The company said sales rose 5.7 percent to $574.7 million in the quarter, missing market estimates of $596.2 million. Genesco said comparable store sales fell 2 percent.

The company cut its full-year profit forecast to $5.20-$5.30 per share from $5.57-$5.67. Analysts on average were expecting a profit of $5.63 per share.

Nashville, Tennessee-based Genesco's shares closed at $69.55 on the New York Stock Exchange on Wednesday.

© Thomson Reuters 2021 All rights reserved.