RTTNews | Mar 11, 2021 07:21AM EST

07:21 Thursday, March 11, 2021 (RTTNews.com) - Genesco Inc. (GCO) reported that its fourth quarter net earnings climbed to $89.92 million or $6.20 per share from $35.56 million or $2.49 per share in the prior year.

Adjusted earnings from continuing operations per share were $2.76, compared to $3.09 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.96 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter declined to $636.80 million from $677.58 million in the prior year, hurt by continued pressure at Johnston & Murphy and the impact from store closures during the quarter, partially offset by digital comp growth of 55%. Analysts expected revenues of $617.55 million for the quarter.

Comparable sales for the fourth-quarter increased 1%.

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