Genesco Q2 Comps Up 3%; Boosts FY20 Adj. EPS Outlook - Quick Facts

(RTTNews) - Specialty retailer Genesco, Inc. (GCO) announced Friday that comparable sales increased 3 percent, with stores up 1 percent and direct up 20 percent, for the second quarter.

The company also raised its adjusted earnings from continuing operations and comparable sales guidance for the full-year 2020.

For fiscal 2020, the company now projects adjusted earnings from continuing operations in a range of $3.80 to $4.20 per share, up from the prior forecast range of $3.35 to $3.75 per share. It added that earnings for the year will be near the mid-point of the range.

It also now expects comparable sales to be up 2 to 3 percent, compared to previous guidance range of 1 to 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.67 per share for fiscal 2020. Analysts' estimates typically exclude special items.