Genesco earned $23.7 million in sales of $452 million last quarter, which wrapped up its fiscal 2009. A year ago, those numbers were $3.6 million and $467 million, respectively. Diluted earnings per share came in at $1.05, three cents shy of analysts’ estimates.
Citing the economic situation, the Nashville-based retailer (Ticker: GCO) gave a wide-ranging earnings forecast for its fiscal 2010. CEO Robert Dennis outlined two scenarios: The first foresees same-store sales falling 1 percent for the year, with the numbers turning up in the fourth quarter and EPS coming in between $1.70 and $1.80; the second calls for same-store sales to fall 3 percent for the year, which would lower EPS to between $1.20 and $1.30 per share.
“We are not convinced that the choppiness in sales that we experienced throughout the fourth quarter is behind us,” Dennis said. “We remain cautious in our outlook on the economy and are running our business accordingly.”
View the company's full earnings statement here.
Delek US Holdings, the parent of Mapco, posted fourth-quarter profits of $2.1 million, reversing a $12.1 million loss from late 2007. Revenues at the Brentwood-based company (Ticker: DK) fell by a more than third to $658 million.
Earnings from continuing operations came in at $0.5 million or a penny per diluted share. Analysts had been expecting a loss of 5 cents. Helping the company surprise to the upside was a big jump in retail margin from the year before. Profits at the pump rose to just under 25 cents per gallon from 14 cents in late 2007.
Delek's earnings release is available here.