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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 (GCO) reported its Fiscal 2025 Q1 results, with a net sales decrease of 5% to $458 million compared to the same period last year. Comparable sales also declined by 5%, with e-commerce sales up 3% but store sales down 7%. GAAP EPS was ($2.22) and Non-GAAP EPS was ($2.10). Inventory levels dropped 17% year-over-year. The company reaffirmed its Fiscal 2025 sales and EPS outlook. Operating loss widened to $32.1 million from $23.0 million, with an adjusted operating margin loss of 6.5%. Cash reserves fell to $19.2 million from $31.8 million, while debt decreased to $59.4 million from $118.2 million. Capital expenditures were $6 million, primarily for retail and digital projects. The company closed 21 stores and plans further closures and cost savings initiatives. The outlook for Fiscal 2025 remains a decrease in total sales by 2-3% and an EPS range of $0.60 to $1.00.
Genesco (NYSE: GCO) will announce its first-quarter fiscal 2025 results on May 31, 2024, before the market opens. The company will hold a quarterly earnings conference call at 7:30 a.m. Central time the same day, accessible via a live audio webcast on their investor relations website. An audio archive of the call will be available for one year. A summary of the first-quarter results will also be posted on the Genesco website on May 31, 2024.
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