First Quarter Fiscal 2022 Financial Summary
Net sales increased 93% from last year to $539 million
Net sales increased 9% over the first quarter two years ago with stores open about 90% of days
GAAP operating income increased 71% over first quarter two years ago
Non-GAAP operating income increased 125% over first quarter two years ago
Comparable direct sales increased 43%
Inventory down 23%
Non-GAAP EPS from continuing operations was $0.79
1 vs. ($3.65) last year and $0.33 two years ago
Genesco Inc. (NYSE: GCO) today reported GAAP earnings from continuing operations per diluted share of $0.60 for the three months ended May 1, 2021, compared to a loss from continuing operations per diluted share of ($9.54) in the first quarter last year and earnings from continuing operations of $0.36 per diluted share two years ago. Adjusted for the Excluded Items in all periods, the Company reported first quarter earnings from continuing operations per diluted share of $0.79, compared to a loss from continuing operations per diluted share of ($3.65) last year and earnings from continuing operations of $0.33 per diluted share two years ago.