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GCO

Genesco

$34.55

-0.25 (-0.72%)

16:04
02/13/18
02/13
16:04
02/13/18
16:04

Genesco initiates process to explore sale of Lids Sports Group

Genesco announced that the Company is initiating a formal process to explore the sale of its Lids Sports Group business. The Company's board of directors concluded through a strategic review process that it is in the best interest of the Company and its shareholders to focus on its industry-leading footwear businesses, which it believes is the optimal platform to deliver enhanced shareholder value over the long term. The board has established a special committee, consisting of four independent directors, to oversee the Lids Sports Group sale process and has retained PJ SOLOMON to advise the special committee and the board in this matter. James W. Bradford, the Company's lead independent director and chairman of the special committee, said, "The steps announced today reflect the results of an examination by Genesco's board and management of strategic alternatives with the intent to enhance shareholder value. The Lids Sports Group has been an important part of Genesco, and we still see significant potential for the business. We believe, however, that it is in the best long-term interests of the Company and its shareholders to focus on building upon our core footwear platform, in which the businesses share common strategic characteristics and where we believe we can generate greater operating efficiencies and synergies. Additionally, we believe Lids Sports Group is undervalued as part of Genesco and that its sale would generate capital that the Company can deploy productively to further enhance shareholder value."

GCO Genesco
$34.55

-0.25 (-0.72%)

08/28/17
SUSQ
08/28/17
DOWNGRADE
SUSQ
Neutral
Genesco downgraded to Neutral from Positive at Susquehanna
01/02/18
JEFF
01/02/18
UPGRADE
Target $40
JEFF
Buy
Genesco upgraded to Buy from Hold at Jefferies
Jefferies analyst Randal Konik upgraded Genesco to Buy and raised his price target for the shares to $40 from $27. With the stock near trough multiples and well below the peer group, the market is underappreciating the potential earnings power of the Journeys segment, Konik tells investors in a research note. He believes market fears over the company's real estate exposure are overblown.
01/09/18
RHCO
01/09/18
NO CHANGE
Target $39
RHCO
Buy
Genesco price target raised to $39 from $33 at SunTrust
SunTrust analyst Pamela Quintiliano raised her price target on Genesco to $39 after her meeting with the management suggested that the company has the ability to preserve momentum in its Journeys business and improve operations at Lids. The analyst says Journeys is "in the early stages of a multi-quarter broad based athletic cycle", and Lids' 2018 will be better after the business was impacted by several one-time factors last year. Quintiliano keeps her Buy rating on Genesco.
01/25/18
PIVT
01/25/18
INITIATION
Target $44
PIVT
Buy
Genesco initiated with a Buy at Pivotal Research
Pivotal Research analyst Mitch Kummetz initiated Genesco with a Buy rating and a price target of $44. Kummetz notes that the company can recover some of its gross margins that were hurt by promotional activity with better full-price selling as well as improvements on rent, salaries, and shipping carrier switching costs.

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DBX

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AMZN

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BHGE

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GE

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BEDU

Bright Scholar

$20.15

0.34 (1.72%)

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JNJ

Johnson & Johnson

$132.02

2.11 (1.62%)

, CMD

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2.45 (2.17%)

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$21.96

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AET

Aetna

$175.55

0.49 (0.28%)

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MYND

MYnd Analytics

$2.60

0.0301 (1.17%)

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MYND

MYnd Analytics

$2.60

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