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BRIEF-Genesco Reports Third Quarter Fiscal 2018 Results
December 1, 2017 / 12:10 PM / in 10 days

BRIEF-Genesco Reports Third Quarter Fiscal 2018 Results

Genesco Inc:

* GENESCO REPORTS THIRD QUARTER FISCAL 2018 RESULTS

* Q3 LOSS PER SHARE $8.55 FROM CONTINUING OPERATIONS

* Q3 SALES $717 MILLION VERSUS I/B/E/S VIEW $706.6 MILLION

* Q3 EARNINGS PER SHARE VIEW $1.12 -- THOMSON REUTERS I/B/E/S

* Q3 ADJUSTED EARNINGS PER SHARE $1.02 FROM CONTINUING OPERATIONS

* - FISCAL 2018 Q3 RESULTS REFLECT A GOODWILL IMPAIRMENT CHARGE OF $182.2 MILLION, OR $8.13 PER DILUTED SHARE AFTER-TAX

* - ‍CONSOLIDATED Q3 2018 COMPARABLE SALES, INCLUDING SAME STORE SALES AND COMPARABLE E-COMMERCE AND CATALOG SALES, INCREASED 1%​

* - NOW “MORE OPTIMISTIC” ABOUT JOURNEYS’ Q4 PROSPECTS

* - STRONG E-COMMERCE SALES GROWTH CONTINUES IN RETAIL BUSINESSES, WHILE STORE TRAFFIC REMAINS “CHALLENGING”

* - ‍NOW EXPECT FY ADJUSTED DILUTED EARNINGS PER SHARE TO RANGE FROM $3.05 TO $3.35​

* - SEES COMPARABLE SALES IN RANGE OF DOWN 1% TO UP 1% FOR FULL YEAR

* FY EARNINGS PER SHARE VIEW $3.39 -- THOMSON REUTERS I/B/E/S

* - VERY “DISAPPOINTED” WITH REDUCED OUTLOOK Source text for Eikon: Further company coverage:

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