Genesco Q2 2021 Earnings Report
Key Takeaways
Genesco Inc. reported a decrease in net sales by 20% to $391 million compared to the previous year, with a GAAP loss from continuing operations per diluted share of ($1.33) and an adjusted loss of ($1.23). E-commerce sales increased significantly, offsetting some of the losses from store closures. The company is operating in 96% of its locations.
Net sales decreased 20% year-over-year to $391 million due to store closures and a delayed back-to-school season.
E-commerce sales surged with a 144% increase, helping to mitigate the impact of reduced store volume.
The company generated $74 million in operating cash flow during the quarter.
Operating loss was $(22.0) million, compared to an operating income of $3.0 million in the same period last year.
Genesco
Genesco
Genesco Revenue by Segment
Forward Guidance
Due to the continued uncertainty in the overall economy driven by COVID-19, the Company is not providing guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income