Welcome to our dedicated page for Genesco news (Ticker: GCO), a resource for investors and traders seeking the latest updates and insights on Genesco stock.
Genesco Inc. reports developments for a footwear-focused retail and lifestyle brand company with omnichannel sales across store and e-commerce channels. Recurring updates center on fiscal results, comparable sales, merchandise performance, and segment trends at Journeys, Little Burgundy, Schuh, Johnston & Murphy, and Genesco Brands Group.
Company news also covers operating initiatives tied to its Footwear First strategy, digital and information-technology changes, investor conference activity, and leadership transitions in finance, accounting, and corporate reporting. Genesco’s brand mix includes youth-oriented fashion footwear, premium footwear and accessories, and licensed lifestyle footwear sold through retail and wholesale channels.
Genesco Inc. (NYSE: GCO) announced the appointment of John F. Lambros to its board of directors, effective immediately. Lambros is the president of GCA-U.S. and has over 22 years of experience in digital media and emerging technology markets. His role includes serving as head of the firm's digital media banking practice and being a board member. Mimi E. Vaughn, Genesco’s Board Chair, expressed confidence in Lambros’ expertise for enhancing the company's digital initiatives and growth strategies amidst evolving market conditions.
Genesco Inc. announced its participation in CL King's 18th Annual Best Ideas Conference on September 16, 2020. The management team will present via a virtual webcast starting at 8:45 a.m. Eastern time. Interested investors can access the presentation through Genesco's investor relations page at www.genesco.com. Genesco operates over 1,475 retail stores across the U.S., Canada, the UK, and Ireland, selling footwear and accessories under several well-known brands.
Genesco reported a 20% decline in net sales to $391 million in Q2 FY21, with a significant 144% growth in e-commerce sales amid store closures. The company's GAAP loss from continuing operations per diluted share was ($1.33), compared to a profit of $0.05 in the same quarter last year. Operating cash flow generated was $74 million, while total debt increased to $210.9 million. The quarter saw a 18% reduction in inventories. With over 96% of stores now open, the outlook remains cautious due to the pandemic's impact on back-to-school sales timing.
Genesco Inc. (NYSE: GCO) announced it will report its second-quarter fiscal 2021 results on September 3, 2020, before market opens. The company will host an earnings conference call at 7:30 a.m. (central) on the same day, which will be available for live streaming. An audio archive will be accessible for a year post-event. Investors can find a summary of the financial results and guidance on the Genesco website on the same date. The company operates 1,475 retail stores primarily selling footwear and accessories across North America and the UK.
Genesco Inc. (NYSE: GCO) has appointed Mimi E. Vaughn as chair of the board of directors, effective July 1, 2020. This decision follows a transition plan initiated in 2018, where Vaughn also serves as president and CEO. She succeeds Robert J. Dennis, who retired after 10 years as chairman. Vaughn emphasized her commitment to enhancing shareholder value and continuing strategic growth. Her leadership during the COVID-19 pandemic has been noted as exceptional. Vaughn has a strong background in business development and finance, holding previous roles within Genesco and at other prestigious firms.