Genesco Q4 2022 Earnings Report
Key Takeaways
Genesco Inc. reported a 14% increase in net sales to $728 million for the fourth quarter of fiscal 2022. GAAP EPS was $4.41, while non-GAAP EPS increased to $3.48. The company repurchased $52 million in stock during the quarter.
Net sales increased 14% year-over-year to $728 million.
GAAP EPS from continuing operations was $4.41, while Non-GAAP EPS from continuing operations increased to $3.48.
The company repurchased $52 million in stock.
Gross margin increased by 310 basis points compared to the fourth quarter of last year.
Genesco
Genesco
Genesco Revenue by Segment
Forward Guidance
For Fiscal 2023, the Company expects sales to be up 2% to 4%, compared to FY22 and adjusted diluted earnings per share from continuing operations in the range of $7.00 to $7.75, with an expectation that earnings per share for the year will be near the mid-point of the range.
Positive Outlook
- Sales to be up 2% to 4%, compared to FY22
Challenges Ahead
- Assumes no further share repurchases and a tax rate of 27% to 28%
Revenue & Expenses
Visualization of income flow from segment revenue to net income