Why Genesco Stock Got Rocked Today
(NYSE: GCO) published its third quarter of fiscal 2026 earnings report Thursday morning, and it probably wishes it hadn't. The footwear retailer missed consensus analyst estimates for revenue and profitability, further compounded by reductions to its guidance. Investors punished the company by aggressively selling their shares, causing the stock price to fall by almost 31% that day.
During the quarter, Genesco reported net sales of $616 million, representing a 3% year-over-year increase. That was on the back of comparable sales that increased at the same rate. Net income not in accordance with generally accepted accounting principles (GAAP) rose more robustly, advancing by 27% to $8.4 million, or $0.79 per share.
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Source Fool.com
