Genesco (GCO) Beats Estimates, Raises Guidance

Retailer Genesco Inc GCO released financial results on Thursday morning that easily beat Wall Street estimates. Genesco Inc reported that it swung to 1st quarter net income of $8.6 million, or 36 cents per share, from a net loss of $5.6 million, or 30 cents per share, a year earlier. Excluding special items, Genesco Inc reported earnings of 42 cents per share. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 22 cents per share. Genesco Inc raised its full-year earnings forecast to a range of $2.10 to $2.20 per share.