The company’s revenues are anticipated to rise year over year. The Zacks Consensus Estimate for earnings stands at 17 cents per share, indicating an increase of 6.3% from the year-ago quarter’s level. The company is expected to report bottom-line growth when it releases fiscal first-quarter 2023 results. You can see the complete list of today’s Zacks #1 Rank stocks here. Here are a few companies, which according to our model, have the right combination of elements to come up with an earnings beat this reporting cycle:Īmerican Eagle Outfitters ( AEO Quick Quote AEO - Free Report) currently has an Earnings ESP of +9.81% and a Zacks Rank of 2. Genesco has an Earnings ESP of 0.00% and a Zacks Rank of 3, at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat which is not the case here. Our proven model does not conclusively predict an earnings beat for Genesco this time around. These factors are likely to have provided some cushion to the company’s performance in the quarter under review. The company has been experiencing record top-line results at Schuh and Johnston & Murphy brands for a while now. In addition, resiliency in the company’s footwear-focused strategy and gains from the multi-channel operating model are tailwinds. On a positive note, management has been making actions to enhance the customer experience and reduce costs to drive overall growth. Also, it cited that it expects cost pressures to persist. On its last earnings call, management cited that it expects additional pressure on sales this fiscal year, mainly in the first half. Also, any deleverage in SG&A expenses and stiff competition remain headwinds. ![]() ![]() Genesco’s quarterly performance is likely to have been affected by a challenging operating environment including higher promotional activity and inflationary pressures. This specialty retailer of consumer products has a trailing four-quarter earnings surprise of 180.6%, on average. GCO delivered an earnings surprise of 1.3% in the last reported quarter. The figure compares unfavorably with earnings of 44 cents per share in the year-earlier quarter. Further, the consensus estimate for quarterly earnings has been stable in the past 30 days at a loss of $1.04 per share. The Zacks Consensus Estimate for revenues is pegged at $484 million, indicating a 7.1% decrease from the year-ago fiscal quarter’s reported figure. ( GCO Quick Quote GCO - Free Report) is likely to register a decline in both the top and the bottom lines from the respective prior-year quarter’s reported numbers in its first-quarter fiscal 2024 results on May 25, before the opening bell.
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