Genesco ($GCO): guidance raised twice, buyback, net cash

Genesco sells footwear through Journeys, Schuh, Little Burgundy and Johnston & Murphy stores and online, with Journeys about 60% of sales. The case is that profits are improving faster than sales. Management has raised adjusted EPS guidance twice this fiscal year, to the high end of $2.00 to $2.40, against $1.45 last year.