RTTNews | Sep 3, 2020 07:10AM EDT

07:10 Thursday, September 3, 2020 (RTTNews.com) - Genesco Inc. (GCO) reported a second quarter adjusted loss from continuing operations per share of $1.23, compared to profit of $0.15, last year. On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $1.85, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales decreased 20% year-on-year to $391 million with stores open about 70% of days. Analysts expected revenue of $369.29 million, for the quarter. The company said its second quarter total net revenue decreased only 20% as the drop in store volume was partially offset by a notable 144% increase in e-commerce sales.

Currently, the company is operating in 96% of its locations, including approximately 1,130 Journeys, 160 Johnston & Murphy, and 125 Schuh locations.

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