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Genesco fiscal Q3 profit falls YOY

Genesco Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to $1.23 per share, compared with the S&P Capital IQ consensus estimate of $1.44 per share.

EPS fell year over year from $1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $29.2 million, a decrease from $29.6 million in the prior-year period.

The normalized profit margin declined to 4.0% from 4.4% in the year-earlier period.

Total revenue rose 8.5% on an annual basis to $722.9 million from $666.3 million, and total operating expenses rose 9.3% on an annual basis to $675.4 million from $617.8 million.

Reported net income grew on an annual basis to $28.7 million, or $1.21 per share, from $27.9 million, or $1.18 per share.