Why Genesco (GCO) Stock Is Slumping Today

NEW YORK (TheStreet) -- Shares of Genesco Inc. (GCO) are down -7.22% to $82.27 after the footwear and apparel retailer reported second quarter earnings of 34 cents per share, missing the Capital IQ consensus estimate of 55 cents per share.

Revenue for the quarter rose 7.1% from one year ago to $615.5 million, and edging out the consensus estimate of $613.58 million.

The company cut its fiscal 2015 full year forecast to a range of $5.10 to $5.20 per share from its previous $5.40 to $5.55 per share, which falls below the Capital IQ consensus estimate of $5.46 per share.

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Separately, TheStreet Ratings team rates GENESCO INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate GENESCO INC (GCO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

GCO Chart GCO data by YCharts

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