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Genesco profit beats consensus by 37.9% in fiscal Q2

Genesco Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 came to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS rose 18.5% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.9 million, a gain of 18.5% from $6.7 million in the year-earlier period.

The normalized profit margin climbed to 1.2% from 1.1% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to $655.5 million from $615.5 million, and total operating expenses increased 6.3% on an annual basis to $641.9 million from $604.0 million.

Reported net income increased 60.0% year over year to $7.6 million, or 32 cents per share, from $4.7 million, or 20 cents per share.