Genesco’s adjusted earnings increased 7 percent, to $13 million, or 62 cents per diluted share, a substantial beat on estimates for EPS of 39 cents.
Q4 sales gained 4.4 percent, to $932 million, but Wall Street’s prediction for net sales of $939.42 million.
Analysts expect Genesco to post diluted EPS of $2.13 and revenue totaling $939.42 million.
No near-term changes are planned for customers, vendors, employees or business partners at BSN and Lids, both companies said.
CEO Robert Dennis said he’s making “a final, aggressive push” to liquidate excess inventory at Lids by yearend.