Footwear And Apparel Company Genesco Sees Shares Pop 4.6% Following Q4 Profit Beat

By Trey Williams Markets MarketWatch Pulse

Genesco Inc. shares rose 4.6% in premarket trade on Friday after the footwear and apparel company reported a fourth-quarter profit above Wall Street's expectations. Net income for the quarter was $46.8 million, or $2.40 per share, compared to $45.0 million, or $2.07 per share during the same period a year ago. Adjusted earning per share were $2.15, beating FactSet's consensus of $1.78. Sales in the quarter fell to $883 million from $932 million, and below FactSet's $901 consensus. Genesco shares have declined 16.7% in the trailing 12-month period, while the S&P 500 index is up 18.9%.

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