Genesco Q4 2020 Earnings Report
Key Takeaways
Genesco reported flat net sales of $678 million for the fourth quarter of fiscal 2020, but GAAP EPS increased to $2.49 and non-GAAP EPS increased to $3.09. Comparable sales increased by 1%, driven by a 19% increase in direct sales.
Net sales were $678 million.
Comparable sales increased 1%.
GAAP EPS from continuing operations increased to $2.49 vs. $1.53 last year, up 63%.
Non-GAAP EPS from continuing operations increased to $3.09 vs. $2.18 last year, up 42%.
Genesco
Genesco
Genesco Revenue by Segment
Forward Guidance
For fiscal year 2021, the company anticipates a total sales increase of 3% to 6%, including sales from the Togast acquisition, and comparable sales to decrease by 1% to increase by 2%. Adjusted diluted earnings per share from continuing operations are projected to be in the range of $4.90 to $5.40.
Positive Outlook
- Total sales to increase 3% to 6% including sales from the recent Togast acquisition.
- Comparable sales to be down 1% to up 2%.
- Adjusted diluted earnings per share from continuing operations in the range of $4.90 to $5.40
- Earnings for the year will be near the midpoint of the range.
- Details regarding guidance assumptions will be discussed in the conference call.
Revenue & Expenses
Visualization of income flow from segment revenue to net income