Nashville-based apparel retailer Genesco (GCO) was down 4.5% Thursday after the company swung to a fourth-quarter loss after reporting a profit in the year-ago quarter.
The company lost $64 million in the quarter, though adjusted earnings were $2.18 per share on revenue of $675.5 million. Analysts were expecting the company to report earnings of $2.33 per share on revenue of $914.8 million.
For fiscal 2019, the company expects to earn between $3.35 and $3.75 per share. Analysts are expecting the company to earn $3.75 per share.
"The strength of our U.S. retail footwear concepts fueled our highest annual comparable sales increase in three years. Our top-line performance included positive store comps, which along with our recent cost reduction efforts allowed us to leverage our brick and mortar expense structure," CEO Robert Dennis said.
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