Genesco (GCO) Message Board

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Non-Tech : Genesco (GCO)

GCO 30.06

+3.0%

Jan 9 9:30 AM EST

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To: David Alan Cook who wrote (38)	4/6/1999 12:36:00 PM
From: Bret P	Read Replies (2) of 66

Morgan Keegan Upgrades to Outperform - April 1st Key Points Cite- Co. had great Q4 in tough environment Q1 appears ontrack Optimism about summer shoe selections Positive changes in product mix 11% workforce reductions should yield $3.7mm/ann. Buyback plan in place Valuation- GCO trades at 11.4x FY00 est. of $0.81 while industry comparables trade at 12.5x forward estimates. It was also noted that GCO has less exposure in the highly competitive atheletic shoe market & therefore could very likely receive a slight premium to the group. Notwithstanding these positive remarks, there appears some softness as of late. Comments anyone? BP

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