Eye Catching Stock: Genesco Inc. (NYSE:GCO)

Genesco Inc. (NYSE:GCO) stock observed trading -28.76% off 52-week high price. On the other end, the stock has been noted 14.19% away from low price over the last 52-weeks. The stock disclosed a move of -5.33% away from 50 day moving average and -15.91% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.32% off 20-day moving average. It has market cap of $606.79M.

 On Sept. 06, 2019, Second Quarter Fiscal 2020 Financial Summary

•           Net sales were flat at $487 million

•           Comparable sales increased 3%

•           GAAP EPS from continuing operations was $0.05 vs. $0.00 last year

•           Non-GAAP EPS from continuing operations was $0.151vs. ($0.01) last year

Genesco Inc. (NYSE:GCO) revealed GAAP earnings from continuing operations per diluted share of $0.05 for the three months ended August 3, 2019, compared to $0.00 in the second quarter last year.  Adjusted for the excluded items in both periods, the Company reported second quarter earnings from continuing operations per diluted share of $0.15, compared to a loss from continuing operations per diluted share of ($0.01) last year.

Robert J. Dennis, Genesco Chairman, President and Chief Executive Officer, said,We delivered second quarter consolidated results that exceeded expectations across the board.  Our outperformance was driven primarily by the ongoing strength of our Journeys business, which continued to experience strong comparable sales even as year-over-year comparisons became more difficult.  The second quarter marked the ninth consecutive quarter of positive consolidated comparable sales for our footwear businesses and included positive store and digital comps. At the same time, gross margins improved at each of our divisions, helping offset incremental marketing investments to achieve operating profit and earnings per share well above last year’s levels.

The top-line momentum we experienced in the second quarter continued nicely in August with Journeys and Schuh leading the way during the important back-to-school selling season.  Based on our strong second quarter results and positive start to the third quarter, combined with the repurchase of more shares than we initially expected, we are raising our full year guidance. We now expect earnings per share for Fiscal 2020 to be between $3.80 to $4.20, with an expectation that earnings for the year will be near the mid-point of the range, up from our previous range of $3.35 to $3.75.Our recent performance represents a great start to our first fiscal year as a footwear-focused company and we believe that the strategic course we have set for Genesco will result in improved profitability and increased shareholder value over the long-term.

 The USA based company Genesco Inc. moved with change of 2.23% to $36.14 with the total traded volume of 1219782 shares in recent session versus to an average volume of 310.03K. The stock was observed in the 5 days activity at -0.22%. The one month performance of stock was -5.14%. GCO’s shares are at -17.49% for the quarter and driving a -24.08% return over the course of the past year and is now at -18.42% since this point in 2018.  Right now the stock beta is 0.54. The average volatility for the week and month was at 6.86% and 5.27% respectively. There are 16.79M shares outstanding and 15.69M shares are floated in market.

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