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million loss in the first quarter ofthe company’ fiscal year. Losses in the quarted ending May2 — the first quarter of the company’xs 2010 fiscal year came in at 30 cents per diluted compared to earnings of $129.4 million, or 5.14 centw per diluted share, in the same quarterd of last year. Revenued for Genesco Inc. (NYSE: GCO) came in at $370,366, up 3.8 percen t compared to the year-ag o quarter. Genesco’s first quarter earnings reflectedr pretax chargesof $11 million, or $0.47 per diluted related to a loss on the earlyu retirement of debt tied to the exchange of $56. 4 million of convertible notes for common stock announced inApril 2009.
Charge s also included fixed asset impairments, leas e terminations, litigation settlements and a higher effectivetax rate, the companyt says. On average, analysts expected earnings per share of4 cents, accordinvg to Thompson Reuters. The low estimate of analystd surveyed was a loss of 2 centsper “Given the current economic environment, we are pleased with our better-than-expected performance in the firstr quarter,” Genesco President and CEO Robery Dennis says in the release. “Our abilith to deliver these results in such turbuleny times highlights the benefits of our diversifiedr operating model and the strengtn and experience of ourmanagement team.
” Genesco is a Nashville-based specialtyh retailer, selling footwear, headwear and accessories in more than 2,225 retail stores in the United Statews and Canada, principally under the names Journeys Kidz, Shi by Journeys, Johnston Murphy, Underground Station, Hatworld, Lids, Hat Hat Zone, Head Quarters and Cap Connection. Shares of Genesco were tradingbat $24.40 this up 2.8 percent from yesterday’s closinf price of $23.70. The 52-week range of the stoco is $24.45 to $25.10.
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