UPDATE: Genesco Reports Upbeat Q2 Results, Raises FY12 Earnings Forecast

Genesco Inc GCO reported upbeat Q2 results and raised FY12 earnings forecast. Genesco reported a quarterly loss of $392,000, or $0.02 per share, versus a loss of $3.18 million, or $0.14 per share, in the year-ago period. Excluding non-recurring items, Genesco's quarterly earnings came in at $0.22 per share, versus analysts' estimates of $0.10 per share. Its revenue surged 29.4% y/y to $470.6 million, versus analysts' estimates of $448.7 million. Genesco's quarterly comparable store sales surged 14%. Genesco lifted its FY12 earnings forecast to $3.35 to 3.42 per share, from its earlier forecast of $2.90 to 2.97 per share. Analysts expected FY12 earnings of $3.31 per share. GCO shares gained 3.88% to $50.88 in pre-market trading.