Genesco reports Q3 adjusted EPS 61c vs. 57c last year

Reports Q3 revenue $596.33M vs. $579.32M. last year. Comparable sales increased 6%. Comparable e-commerce sales increased 15%; comparable store sales increased 4%. E-commerce sales represented 24% of retail sales compared to 21% last year. Mimi Vaughn, Genesco’s (GCO) Board Chair, President and Chief Executive Officer, said, “Our quarterly performance once again exceeded expectations and marked a return to positive overall comparable sales. Following a strong start to the third quarter including the heart of back-to-school, sales trends at Journeys remained robust in September and October, fueling a double-digit comp gain for the business. This result was driven by the initial phase of Journeys’ strategic growth plan which has focused on elevating the consumer experience including improving the product assortment and visually resetting our stores. EPS would have been stronger without the shift of an important back-to-school week into the second quarter this year.”