Genesco Stock Falls 22% Despite Rise In Q4 Sales, Earnings

(RTTNews) - Genesco Inc. (GCO) is trading at $26.01, down 19.71 percent or $6.39, after reporting fourth-quarter financial results during Friday's trading. Net sales for the quarter were $745.9 million, up slightly from $738.9 million a year ago.

The stock opened at $24.14 and has traded between $23.97 and $28.34 so far today, down from a previous close of $32.40. Current volume is 545,246 shares, significantly higher than the average volume of 205,274. The stock's 52-week range is $23.21 to $44.80.

Net earnings increased to $34.4 million, or 4.6 percent of sales, compared to $27.2 million, or 3.7 percent, in the prior-year quarter.