Genesco reports q1 loss per share of $9.54 from continuing operations

. reports fiscal 2021 first quarter results.q1 gaap loss per share $9.54 from continuing operations.q1 sales $279 million versus refinitiv ibes estimate of $306.5 million.q1 earnings per share estimate $-2.52 -- refinitiv ibes data.q1 non-gaap loss per share $3.65 from continuing operations.furloughed or reduced its workforce by 90% across stores, corporate offices, call centers and distribution centers.implemented salary reductions for executive team and select employees, reduced cash compensation of its board of directors.company anticipates reopening close to 85% of all stores by end of june.as of june 6, 2020, company is currently operating in close to 1,000 locations.q1 sales decrease was driven by closure of stores for back half of q1 as a result of covid-19 global pandemic.due to continued uncertainty in overall economy, company is not providing guidance at this time..company recognized full impairment of goodwill in its schuh group and recorded a non-cash impairment charge of $79.3 million pretax.amended its abl lending agreement, increasing facility from $275 million to up to $350 million of borrowing capacity.
GCO Ratings Summary
GCO Quant Ranking