(RTTNews) - Genesco (GCO) reported that its first quarter comparable sales increased 2%, with stores up 3% while e-commerce was flat. With the better than expected start, the company increased full-year adjusted EPS outlook to $2.00 to $2.40, with the middle of the range the most likely outcome, revised from the previous guidance range of $1.90 to $2.30. The company continues to expect positive comparable sales of 1% to 2%, and continues to expect total sales to be down 1% to flat.
First quarter GAAP loss from continuing operations was $14.8 million compared to a loss of $21.2 million, a year ago. Loss per share before discontinued operations was $1.42 compared to a loss of $2.02. Adjusted for the excluded items, loss from continuing operations was $22.7 million, or $2.18 per share, compared to a loss of $21.5 million, or $2.05 per share. Net sales increased 3% to $487 million compared to $474 million, prior year.
In pre-market trading on NYSE, Genesco shares are down 0.19 percent to $36.39.
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