US Market News
2週前
Genesco Inc. Reports Fiscal 2027 First Quarter ResultsMay 29, 2026 6:50 AM
Business Wire --Sales and Bottom Line Improvement Exceed Expectations--
-- Journeys Comparable Sales +5%, Johnston & Murphy Comparable Sales +7%--
--Seventh Consecutive Quarter of Positive Total Comparable Sales Growth--
--Announces New $40 to $50 million Cost Savings Program--
--Raises Full Year EPS Outlook Range to $2.00 to $2.40-- Genesco Inc. (NYSE: GCO) today reported first quarter results for the three months ended May 2, 2026. First Quarter Fiscal 2027 Financial Summary Net sales of $487 million increased 3% compared to Q1FY26 Comparable sales increased 2%, with stores up 3% while e-commerce was flat Gross margin improved 30 basis points compared to last year Selling and administrative expenses leveraged 30 basis points compared to last year; Adjusted selling and administrative expenses leveraged 60 basis points compared to last year GAAP EPS was ($1.42) and Non-GAAP EPS was ($2.18)1 versus GAAP EPS of ($2.02) and Non-GAAP EPS of ($2.05) last year2 Mimi E. Vaughn, Genesco’s Board Chair, President, Chief Executive Officer and Interim Chief Financial Officer, said, “After a strong finish to Fiscal 2026, we are pleased to report a solid start to Fiscal 2027, delivering our seventh consecutive quarter of positive comparable sales and first quarter results that exceeded expectations across the board. The execution of our strategic initiatives continues to translate into tangible results. Journeys’ comparable sales grew mid-single-digits on top of a high-single-digit gain last year, as our work around product elevation and customer experience continues to drive market share gains. At the same time, Johnston & Murphy’s comparable sales accelerated sharply, increasing high-single-digits, while Schuh’s comparable sales performance reflects our decision to pull back on promotions and prioritize a more full-price selling model.” Vaughn continued, “With the better than expected start, we are raising our full-year adjusted EPS outlook to $2.00 to $2.40. We are creating meaningful value through our strategic growth plan and operational execution. Across our portfolio, we’re seeing encouraging progress and momentum as our top-line initiatives gain traction, which along with disciplined expense management and a new cost savings program are establishing a more profitable, higher-quality business for the near and longer-term.” 1Non-GAAP earnings per share (“EPS”) is a non-GAAP measure. Non-GAAP EPS excludes (i) a gross margin gain for a reversal of an inventory write-down related to license exits in Genesco Brands Group, net of tax effect, in the first quarter of Fiscal 2027, and (ii) a gain related to payment card interchange fee litigation, partially offset by charges for store restructuring, costs associated with information technology transformation, severance and professional fees related to shareholder activities, net of tax effect, in the first quarter of Fiscal 2027 and a charge for severance, net of tax effect, in the first quarter of Fiscal 2026 (“the Excluded Items”). A reconciliation of loss and loss per share from continuing operations in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) with the adjusted loss and loss per share numbers is set forth on Schedule B to this press release. The Company believes that disclosure of loss and loss per share from continuing operations adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results. 2 The effective tax rate for the first quarter was 6.8% in Fiscal 2027 compared to 28.5% in the first quarter last year. The adjusted tax rate, reflecting Excluded Items, was 6.9% in Fiscal 2027 compared to 26.7% in the first quarter last year. First Quarter Review Net sales for the first quarter of Fiscal 2027 increased 3% to $487 million compared to $474 million in the first quarter of Fiscal 2026. The net sales increase reflects a 2% increase in comparable sales, including a 3% increase in same store sales, other non-comp gains and a favorable foreign exchange impact, partially offset by the impact of net store closings. Comparable Sales Comparable Same Store and E-commerce Sales: 1QFY27 1QFY26 Journeys Group 5% 8% Schuh Group (9)% 1% Johnston & Murphy Group 7% (2)% Total Genesco Comparable Sales 2% 5% Same Store Sales 3% 5% Comparable E-commerce Sales 0% 7% The overall sales increase of 3% for the first quarter of Fiscal 2027 compared to the first quarter of Fiscal 2026 was driven by an increase of 5% at Journeys, an increase of 6% at Johnston & Murphy and a 4% increase at Genesco Brands, partially offset by a decrease of 5% at Schuh. On a constant currency basis, Schuh sales were down 9% for the first quarter this year. Gross margin for the first quarter this year of 47.0% increased 30 basis points as a percentage of sales compared to 46.7% last year. The increase as a percentage of sales compared to Fiscal 2026 is due primarily to efficiencies in shipping and warehouse costs and less promotional activity across our businesses, partially offset by changes in brand mix at Journeys and Schuh. Selling and administrative expenses improved to 52.2% compared to 52.5% last year. Adjusted selling and administrative expenses for the first quarter this year of 51.9% improved 60 basis points as a percentage of sales compared with last year primarily reflecting decreased selling salaries, occupancy, freight and warehouse expenses as well as ongoing cost savings initiatives, partially offset by increased performance-based incentive compensation expenses and investments in marketing. Genesco’s GAAP operating loss for the first quarter was $15.4 million, or 3.2% of sales this year, compared with a loss of $28.1 million, or 5.9% of sales in the first quarter last year. Adjusted for the Excluded Items in the first quarters of both Fiscal 2027 and Fiscal 2026, the operating loss for the first quarter was $23.9 million this year compared to a loss of $27.9 million last year. Adjusted operating margin was a loss of 4.9% of sales in the first quarter of Fiscal 2027 compared to a loss of 5.9% in the first quarter last year. The effective tax rate for the first quarter was 6.8% in Fiscal 2027 compared to 28.5% in the first quarter last year. The adjusted tax rate, reflecting Excluded Items, was 6.9% in Fiscal 2027 compared to 26.7% in the first quarter last year. The lower adjusted tax rate for the first quarter of Fiscal 2027 compared to the first quarter last year primarily reflects a lower expected tax rate for Fiscal 2027 versus Fiscal 2026 due to the impact of the valuation allowance in certain jurisdictions combined with the income tax law changes from the One Big Beautiful Bill Act (“OBBBA”). GAAP loss from continuing operations was $14.8 million in the first quarter of Fiscal 2027 compared to a loss of $21.2 million in the first quarter last year. Adjusted for the Excluded Items, the first quarter loss from continuing operations was $22.7 million, or $2.18 per share, in Fiscal 2027, compared to a loss of $21.5 million, or $2.05 per share, in the first quarter last year. Tariff Refunds The Company is expecting refunds under the International Emergency Economic Powers Act of approximately $23 to $25 million related to its branded businesses, for which it has already applied but which are not included in the financials this quarter. In addition, the tariff refunds are not included in the Company’s guidance for the remainder of the year. Cost Savings Program In connection with its IT Transformation and programs to drive automation, operating efficiencies and spend optimization, the Company is announcing a new cost reduction program which is expected to generate cost savings of $40 to $50 million between now and Fiscal 2029. This program is aimed at structurally reducing the cost base, continued investment in growth initiatives, further supporting operating margin expansion and continued utilization of AI capabilities which unlock additional opportunities. Cash, Borrowings and Inventory Cash as of May 2, 2026, was $27.1 million, compared with $21.7 million as of May 3, 2025. Total debt at the end of the first quarter of Fiscal 2027 was $45.3 million compared with $121.0 million at the end of last year’s first quarter. Inventories increased 6% on a year-over-year basis primarily reflecting increased inventory for Journeys, partially offset by decreased inventory at Genesco Brands. Capital Expenditures and Store Activity For the first quarter this year, capital expenditures were $15 million, related primarily to retail stores. Depreciation and amortization was $13 million. During the quarter, the Company opened two stores and closed 30 stores. The Company ended the quarter with 1,208 stores compared with 1,256 stores at the end of the first quarter last year, or a decrease of 4%. Square footage was down 4% on a year-over-year basis. Share Repurchases The Company did not repurchase any shares during the first quarter of Fiscal 2027. The Company currently has $29.8 million remaining on its expanded share repurchase authorization announced in June 2023, after repurchasing 604,531 shares during Fiscal 2026. The Company continues to view share repurchases as an important component of its balanced capital allocation strategy and is committed to deploying excess capital. Fiscal 2027 Outlook Vaughn concluded, “We have clear plans in place to drive continued improvement in Fiscal 2027. Our top-line guidance reflects another year of overall positive comparable sales growth, offset by store closures and license transitions in our branded footwear group. The projected increase in our bottom line is being driven by another year of increased profitability at Journeys and improvement at Johnston & Murphy. We also expect higher gross margins, primarily at Schuh, as we reduce the business’ dependency on promotions and focus on returning to a full price, full margin sales model.” For Fiscal 2027, the Company: Raises expectations for adjusted diluted earnings per share from continuing operations to a range of $2.00 to $2.402, with the middle of the range the most likely outcome, as a result of the better than expected start to Fiscal 2027, versus the previous range of $1.90 to $2.30 per share Continues to expect positive comparable sales of 1% to 2% Continues to expect total sales to be down 1% to flat compared to Fiscal 2026, reflecting the impact of store closures and license exits, and Guidance assumes no further share repurchases and a tax rate of 30% for Fiscal 2027 but due to the valuation allowance, the tax rate for the second and third quarters of the year will be in the range of approximately 7% to 8% ____________________ 2A reconciliation of the adjusted financial measures cited in the guidance to their corresponding measures as reported pursuant to GAAP is included in Schedule B to this press release. Conference Call, Management Commentary and Investor Presentation The Company has posted detailed financial commentary and a supplemental financial presentation of first quarter results on its website, www.genesco.com, in the investor relations section. The Company's live conference call on May 29, 2026, at 7:30 a.m. (Central time), may be accessed through the Company's website, www.genesco.com. To listen live, please go to the website at least 15 minutes early to register, download and install any necessary software. Safe Harbor Statement This release contains forward-looking statements, including those regarding future sales, earnings, operating income, gross margins, expenses, tariff refunds, capital expenditures, depreciation and amortization, tax rates, store openings and closures, cost reductions, and all other statements not addressing solely historical facts or present conditions. Forward-looking statements are usually identified by or are associated with such words as “intend,” “expect,” “feel,” “should,” “believe,” “anticipate,” “optimistic,” “confident” and similar terminology. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences. These include adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store, e-commerce and shopping mall traffic, the imposition of tariffs (including the timing and amount thereof) on products imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; the amount and timing of any tariff refunds; our ability to pass on price increases to our customers; restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements, and limitations on the Company’s ability to adequately staff and operate stores. Differences from expectations could also result from store closures and effects on the business as a result of the level of consumer spending on our merchandise and interest in our brands and in general; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the Company’s ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of pandemics or geopolitical events, including shipping disruptions near crucial trade routes; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; a disruption in shipping or increase in cost of our imported products, and other factors affecting the cost of products; our dependence on third-party vendors and licensors for the products we sell; store closures and effects on the business as a result of civil disturbances; our ability to renew our license agreements; impacts of the ongoing geopolitical conflicts around the world including, without limitation, the conflict with Iran; and other sources of market weakness in the locations in which we operate; the effectiveness of the Company's omnichannel initiatives; costs associated with shareholder activism; costs associated with changes in minimum wage and overtime requirements; wage pressures; labor shortages; the effects of inflation; the evolving regulatory landscape related to our use of social media; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets, including trends with respect to the popularity of casual and dress footwear; any failure to increase sales at our existing stores, given our high fixed expense cost structure, and in our e -commerce businesses; risks related to the potential for terrorist events; changes in buying patterns by significant wholesale customers; changes in consumer preferences; our ability to continue to complete and integrate acquisitions; our ability to expand our business and diversify our product base; impairment of goodwill in connection with acquisitions; payment related risks that could increase our operating cost, expose us to fraud or theft, subject us to potential liability and disrupt our business; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to secure allocations to refine product assortments to address consumer demand; the ability to renew leases in existing stores and control or lower occupancy costs, to open or close stores in the number and on the planned schedule, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; the Company’s ability to realize anticipated cost savings, including rent savings and savings in connection with the restructuring of the Company’s information technology functions; the amount and timing of share repurchases; our ability to make our occupancy costs more variable; the Company’s ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems or as the result of the restructuring of the Company’s information technology functions; changes in tax laws and tax rates and the Company’s ability to realize any anticipated tax benefits in both the amount and timeframe anticipated; and the cost and outcome of litigation, investigations, environmental matters and other disputes involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements. About Genesco Inc. Genesco Inc. (NYSE: GCO) is a footwear first company with distinctively positioned retail and lifestyle brands and proven omnichannel capabilities offering customers the footwear they desire in engaging shopping environments, including more than 1,200 retail stores and branded e-commerce websites. Its Journeys, Little Burgundy and Schuh brands serve teens, kids and young adults with on-trend fashion footwear that inspires youth culture in the U.S., Canada and the U.K. Johnston & Murphy serves successful, affluent men and women with premium footwear, apparel and accessories in the U.S. and Canada, and Genesco Brands Group sells branded lifestyle footwear to leading retailers under licensed brands including Wrangler, Dockers and Starter. Founded in 1924, Genesco is based in Nashville, Tennessee. For more information on Genesco and its operating divisions, please visit www.genesco.com. GENESCO INC. Condensed Consolidated Statements of Operations (in thousands, except per share data) (Unaudited) Quarter 1 Quarter 1 May 2, % of May 3, % of 2026 Net Sales 2025 Net Sales Net sales $ 487,025 100.0 % $ 473,973 100.0 % Cost of sales 258,106 53.0 % 252,792 53.3 % Gross margin(1) 228,919 47.0 % 221,181 46.7 % Selling and administrative expenses(2) 254,403 52.2 % 249,035 52.5 % Asset impairments and other, net(3) (10,107 ) -2.1 % 291 0.1 % Operating loss (15,377 ) -3.2 % (28,145 ) -5.9 % Other components of net periodic benefit cost 237 0.0 % 180 0.0 % Interest expense, net 265 0.1 % 1,339 0.3 % Loss from continuing operations before income taxes (15,879 ) -3.3 % (29,664 ) -6.3 % Income tax benefit (1,073 ) -0.2 % (8,452 ) -1.8 % Loss from continuing operations (14,806 ) -3.0 % (21,212 ) -4.5 % Loss from discontinued operations, net of tax (8 ) 0.0 % (15 ) 0.0 % Net Loss $ (14,814 ) -3.0 % $ (21,227 ) -4.5 % Basic loss per share: Before discontinued operations $ (1.42 ) $ (2.02 ) Net loss $ (1.42 ) $ (2.02 ) Diluted loss per share: Before discontinued operations $ (1.42 ) $ (2.02 ) Net loss $ (1.42 ) $ (2.02 ) Weighted-average shares outstanding: Basic 10,428 10,495 Diluted 10,428 10,495 (1) Includes a $0.1 million gross margin gain in the first quarter of Fiscal 2027 for the reversal of an inventory write-down in Genesco Brands Group related to license exits. (2) Includes a $1.7 million charge for costs associated with information technology transformation in the first quarter of Fiscal 2027. (3) Includes a $10.1 million gain in the first quarter of Fiscal 2027 which includes a $13.4 million gain related to payment card interchange fee litigation, partially offset by a $3.0 million charge for store restructuring, a $0.2 million charge for costs associated with information technology transformation and a $0.1 million charge for severance. Includes a $0.3 million charge for severance in the first quarter of Fiscal 2026.
GENESCO INC. Sales/Earnings Summary by Segment (in thousands) (Unaudited) Quarter 1 Quarter 1 May 2, % of May 3, % of 2026 Net Sales 2025 Net Sales Sales: Journeys Group $ 285,323 58.6 % $ 272,634 57.5 % Schuh Group 90,702 18.6 % 95,915 20.2 % Johnston & Murphy Group 81,310 16.7 % 76,839 16.2 % Genesco Brands Group 29,690 6.1 % 28,585 6.0 % Net Sales $ 487,025 100.0 % $ 473,973 100.0 % Operating income (loss): Journeys Group $ (11,555 ) -4.0 % $ (15,283 ) -5.6 % Schuh Group(1) (6,987 ) -7.7 % (6,131 ) -6.4 % Johnston & Murphy Group 1,507 1.9 % 500 0.7 % Genesco Brands Group(2) 1,162 3.9 % 698 2.4 % Corporate and Other(3) 496 0.1 % (7,929 ) -1.7 % Operating loss (15,377 ) -3.2 % (28,145 ) -5.9 % Other components of net periodic benefit cost 237 0.0 % 180 0.0 % Interest expense, net 265 0.1 % 1,339 0.3 % Loss from continuing operations before income taxes (15,879 ) -3.3 % (29,664 ) -6.3 % Income tax benefit (1,073 ) -0.2 % (8,452 ) -1.8 % Loss from continuing operations (14,806 ) -3.0 % (21,212 ) -4.5 % Loss from discontinued operations, net of tax (8 ) 0.0 % (15 ) 0.0 % Net Loss $ (14,814 ) -3.0 % $ (21,227 ) -4.5 % (1) Includes a $0.3 million charge for costs associated with information technology transformation in the first quarter of Fiscal 2027. (2) Includes a $0.1 million gross margin gain in the first quarter of Fiscal 2027 for the reversal of an inventory write-down in Genesco Brands Group related to license exits. (3) Includes a $13.4 million gain related to payment card interchange fee litigation, partially offset by a $3.0 million charge for store restructuring, a $1.6 million charge for costs associated with information technology transformation and a $0.1 million charge for severance in the first quarter of Fiscal 2027. Includes a $0.3 million charge for severance in the first quarter of Fiscal 2026. GENESCO INC. Condensed Consolidated Balance Sheets (in thousands) (Unaudited) May 2, 2026 May 3, 2025 Assets Cash $ 27,122 $ 21,748 Accounts receivable 47,694 52,815 Inventories 476,853 450,829 Other current assets(1) 44,109 107,922 Total current assets 595,778 633,314 Property and equipment 239,701 236,909 Operating lease right of use assets 485,669 472,091 Goodwill and other intangibles 37,011 36,857 Other non-current assets 25,870 25,420 Total Assets $ 1,384,029 $ 1,404,591 Liabilities and Equity Accounts payable $ 129,033 $ 122,166 Current portion long-term debt - 7,299 Current portion operating lease liabilities 115,773 126,954 Other current liabilities 80,054 74,504 Total current liabilities 324,860 330,923 Long-term debt 45,346 113,733 Long-term operating lease liabilities 414,604 389,384 Other long-term liabilities 46,782 48,319 Equity 552,437 522,232 Total Liabilities and Equity $ 1,384,029 $ 1,404,591 (1) Includes prepaid income taxes of $74.8 million at May 3, 2025. GENESCO INC. Store Count Activity Balance Balance Balance 02/01/25 Open Close 01/31/26 Open Close 05/02/26 Journeys Group 1,006 8 49 965 0 25 940 Schuh Group 124 1 7 118 1 5 114 Johnston & Murphy Group 148 14 9 153 1 0 154 Total Retail Stores 1,278 23 65 1,236 2 30 1,208 GENESCO INC. Comparable Sales Quarter 1 May 2, May 3, 2026 2025 Journeys Group 5% 8% Schuh Group -9% 1% Johnston & Murphy Group 7% -2% Total Comparable Sales 2% 5% Same Store Sales 3% 5% Comparable E-commerce Sales 0% 7% Schedule B Genesco Inc. Adjustments to Reported Loss from Continuing Operations Three Months Ended May 2, 2026 and May 3, 2025 The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results. Quarter 1 Quarter 1 May 2, 2026 May 3, 2025 Net of Per Share Net of Per Share In Thousands (except per share amounts) Pretax Tax Amounts Pretax Tax Amounts Loss from continuing operations, as reported $ (14,806 ) ($1.42) $ (21,212 ) ($ 2.02 ) Gross margin adjustment: Reversal of inventory write-down related to exit of licenses $ (84 ) (78 ) (0.01 ) $ - - 0.00 Selling and administrative expense adjustment: Costs associated with information technology transformation $ 1,698 1,578 0.15 $ - - 0.00 Asset impairments and other adjustments: Asset impairment charges $ - - 0.00 $ 34 24 0.00 Severance 90 84 0.01 257 185 0.02 Costs associated with information technology transformation 198 184 0.02 - - 0.00 Gain related to payment card interchange fee litigation (13,425 ) (12,474 ) (1.20 ) - - 0.00 Store restructuring charges 2,970 2,768 0.27 - - 0.00 Professional fees related to shareholder activities 60 56 0.00 - - 0.00 Total asset impairments and other adjustments $ (10,107 ) (9,382 ) (0.90 ) $ 291 209 0.02 Income tax expense adjustments: Tax impact share based awards - 0.00 139 0.01 Other tax items (7 ) 0.00 (666 ) (0.06 ) Total income tax expense adjustments (7 ) 0.00 (527 ) (0.05 ) Adjusted loss from continuing operations (1) and (2) $ (22,695 ) ($ 2.18 ) $ (21,530 ) ($ 2.05 ) (1) The adjusted tax rate for the first quarter of Fiscal 2027 and 2026 is 6.9% and 26.7%, respectively. (2) EPS reflects 10.4 million and 10.5 million share count for the first quarter of Fiscal 2027 and 2026, respectively, which excludes common stock equivalents in both periods due to the loss from continuing operations. Genesco Inc. Adjustments to Reported Operating Income (Loss), Gross Margin and Selling and Administrative Expenses Three Months Ended May 2, 2026 and May 3, 2025 Quarter 1 - May 2, 2026 Operating Asset Impair Adj Operating In Thousands Income (Loss) & Other Adj Income (Loss) Journeys Group $ (11,555 ) $ - $ (11,555 ) Schuh Group (6,987 ) 289 (6,698 ) Johnston & Murphy Group 1,507 - 1,507 Genesco Brands Group 1,162 (84 ) 1,078 Corporate and Other 496 (8,698 ) (8,202 ) Total Operating Loss $ (15,377 ) $ (8,493 ) $ (23,870 ) % of sales -3.2 % -4.9 % Depreciation and amortization 13,247 Adjusted loss before interest, taxes, depreciation and amortization ("EBITDA")(1) $ (10,623 ) % of sales -2.2 % Quarter 1 - May 3, 2025 Operating Asset Impair Adj Operating In Thousands Income (Loss) & Other Adj Income (Loss) Journeys Group $ (15,283 ) $ - $ (15,283 ) Schuh Group (6,131 ) - (6,131 ) Johnston & Murphy Group 500 - 500 Genesco Brands Group 698 - 698 Corporate and Other (7,929 ) 291 (7,638 ) Total Operating Loss $ (28,145 ) $ 291 $ (27,854 ) % of sales -5.9 % -5.9 % Depreciation and amortization 13,393 Adjusted loss before interest, taxes, depreciation and amortization ("EBITDA")(1) $ (14,461 ) % of sales -3.1 % (1) Excludes "Other components of net periodic benefit cost" line item on the Consolidated Statements of Operations. Quarter 1 In Thousands May 2, 2026 May 3, 2025 Gross margin, as reported $ 228,919 $ 221,181 % of sales 47.0 % 46.7 % Reversal of inventory write-down related to exit of licenses (84 ) - Total adjustments (84 ) - Adjusted gross margin $ 228,835 $ 221,181 % of sales 47.0 % 46.7 % Quarter 1 In Thousands May 2, 2026 May 3, 2025 Selling and administrative expenses, as reported $ 254,403 $ 249,035 % of sales 52.2 % 52.5 % Costs associated with information technology transformation (1,698 ) - Total adjustments (1,698 ) - Adjusted selling and administrative expenses $ 252,705 $ 249,035 % of sales 51.9 % 52.5 % Schedule B Genesco Inc. Adjustments to Forecasted Earnings from Continuing Operations Fiscal Year Ending January 30, 2027 In millions (except per share amounts) High Guidance Low Guidance Fiscal 2027 Fiscal 2027 Net of Tax Per Share Net of Tax Per Share Forecasted earnings from continuing operations $ 29.8 $ 2.75 $ 25.1 $ 2.32 Asset impairments and other adjustments: Asset impairments and other matters 5.6 0.52 6.0 0.55 Gain related to payment card interchange fee litigation (9.4 ) (0.87 ) (9.4 ) (0.87 ) Total asset impairments and other adjustments (1) (3.8 ) (0.35 ) (3.4 ) (0.32 ) Adjusted forecasted earnings from continuing operations (2) $ 26.0 $ 2.40 $ 21.7 $ 2.00 (1) All adjustments are net of tax where applicable. The forecasted tax rate for Fiscal 2027 is approximately 30%. Due to the valuation allowance, the tax rate for the first quarter was 6.9% and quarters 2 and 3 will be in the range of approximately 7% to 8%. (2) EPS reflects 10.9 million share count for Fiscal 2027 which includes common stock equivalents. This reconciliation reflects estimates and current expectations of future results. Actual results may vary materially from these expectations and estimates, for reasons including those included in the discussion of forward-looking statements elsewhere in this release. The Company disclaims any obligation to update such expectations and estimates. View source version on businesswire.com: https://www.businesswire.com/news/home/20260528159479/en/ Genesco Financial Contact
Darryl MacQuarrie, Senior Director, FP&A & Investor Relations
(615) 308-5629 / dmacquarrie@genesco.com Genesco Media Contact
Claire S. McCall, Director, Corporate Relations
(615) 308-2483 / cmccall@genesco.com Original: Genesco Inc. Reports Fiscal 2027 First Quarter Results
US Market News
3月前
Genesco Inc. Reports Fiscal 2026 Fourth Quarter and Full Year ResultsMarch 6, 2026 6:50 AM
Business Wire
--Journeys Q4 Comparable Sales +12%, Overall Comparable Sales +9%--
--Sixth Consecutive Quarter of Positive Comparable Sales Growth--
--Operating Income Increased 11% for Q4 and Increased 24% for Fiscal 2026--
Genesco Inc. (NYSE: GCO) today reported fourth quarter and full fiscal year results for the three and twelve months ended January 31, 2026.
Fourth Quarter Fiscal 2026 Financial Summary
Net sales of $800 million increased 7% compared to Q4FY25
Comparable sales increased 9%, with stores up 9% and e-commerce up 8%
E-commerce sales represented 31% of retail sales compared to 30% last year
Selling and administrative expenses leveraged 140 basis points compared to last year
GAAP EPS was $4.43 vs. $3.06 last year and Non-GAAP EPS was $3.74 vs. $3.26 last year 1
Fiscal 2026 Financial Summary
Net sales of $2.4 billion increased 5% compared to FY25
Comparable sales increased 6%, with stores up 6% and e-commerce up 4%
E-commerce sales represented 25% of retail sales for both this year and last year
Selling and administrative expenses leveraged 120 basis points compared to last year
GAAP EPS was $1.25 vs. ($1.80) last year and Non-GAAP EPS was $1.45 vs. $0.94 last year1
Mimi E. Vaughn, Genesco’s Board Chair, President and Chief Executive Officer, said, "We are very pleased to close out Fiscal 2026 with another quarter of strong performance, highlighted by our sixth consecutive quarter of positive comparable sales growth, demonstrating the sustainability of our momentum, combined with a meaningful increase in profitability. Journeys once again led the way with double-digit comp growth on top of double digits last year, fueled by an exceptional holiday performance. Our strategic initiatives around product elevation and customer experience continue to resonate with teens, driving market share gains and positioning Journeys as the clear destination for style-led footwear. At the same time, Johnston & Murphy’s comparable sales improved in each successive month, while Schuh navigated a promotional U.K. environment and exited the year with clean inventories.”
Vaughn continued, “We are optimistic about Fiscal 2027. We expect another year of comparable sales growth driven by our strategic growth plan and ongoing strength at Journeys, and improved acceleration at Johnston & Murphy as our product and marketing strategies gain more traction. These results will be partially offset by Schuh as we reset the promotional posture and apply the learnings from Journeys' successful transformation. Our Footwear First strategy, combined with our disciplined approach to cost management and inventory control, positions us well to deliver improved profitability and create meaningful shareholder value."
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1Non-GAAP earnings per share (“EPS”) is a non-GAAP measure. Non-GAAP EPS excludes (i) a gross margin charge for an inventory write-down related to license exits in Genesco Brands Group, net of tax effect, in the fourth quarter and year of Fiscal 2026, (ii) a gross margin charge related to a distribution model transition in Genesco Brands Group, net of tax effect, in Fiscal 2025, and (iii) costs associated with information technology transformation, store restructuring, asset impairments and severance, net of tax effect, in the fourth quarter and year of Fiscal 2026 and asset impairments and severance, net of tax effect, in the fourth quarter and year of Fiscal 2025 (“the Excluded Items”). Non-GAAP EPS also excludes the tax impact of the One Big Beautiful Bill Act (“OBBBA”) in Fiscal 2026 and income tax expense of $26.2 million related to a U.S. valuation allowance in Fiscal 2025. A reconciliation of earnings (loss) and earnings (loss) per share from continuing operations in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) to the adjusted earnings (loss) and earnings (loss) per share numbers is set forth on Schedule B to this press release. The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results. Non-GAAP EPS is not intended to be a substitute for GAAP measures and may differ from similarly titled metrics supported by other companies. Investors should consider Non-GAAP EPS in addition to, and not as a replacement for, GAAP results reported in our financial statements.
Fourth Quarter Review
Net sales for the fourth quarter increased 7% to $800 million in Fiscal 2026 compared to $746 million in the fourth quarter of Fiscal 2025. The net sales increase reflects a 9% increase in comparable sales, including a 9% increase in same store sales and an 8% increase in e-commerce comparable sales and a favorable foreign exchange impact, partially offset by decreased wholesale sales and the impact of net store closings.
Comparable Sales
Comparable Same Store and E-commerce Sales:
4QFY26
4QFY25
Journeys Group
12%
14%
Schuh Group
3%
2%
Johnston & Murphy Group
2%
0%
Total Genesco Comparable Sales
9%
10%
Same Store Sales
9%
6%
Comparable E-commerce Sales
8%
18%
The overall sales increase of 7% for the fourth quarter of Fiscal 2026 compared to the fourth quarter of Fiscal 2025 was driven by an increase of 10% at Journeys, 9% at Schuh and 2% at Johnston & Murphy, partially offset by a decrease of 27% or $10 million at Genesco Brands. On a constant currency basis, Schuh sales were up 3% for the fourth quarter.
Fiscal 2026 fourth quarter gross margin was 45.9% compared to 46.9% last year. Adjusted gross margin for the fourth quarter was 46.0%, down 90 basis points compared with 46.9% last year. The decrease in adjusted gross margin as a percentage of sales compared to Fiscal 2025 is due primarily to increased promotional activity at Schuh and lower margins at Genesco Brands related to ongoing tariff pressure and changes in channel mix.
Selling and administrative expenses for the fourth quarter of Fiscal 2026 decreased 140 basis points as a percentage of sales to 39.1% compared with 40.5% last year. The decrease as a percentage of sales compared to Fiscal 2025 primarily reflects decreased occupancy costs and selling salaries, along with other expenses as part of our cost savings initiatives.
Genesco’s GAAP operating income for the fourth quarter was $51.3 million, or 6.4% of sales in Fiscal 2026, compared with $46.1 million, or 6.2% of sales in the fourth quarter last year. Adjusted for the Excluded Items in the fourth quarters of both Fiscal 2026 and 2025, operating income for the fourth quarter of Fiscal 2026 was $55.9 million compared to $47.9 million last year. Adjusted operating margin was 7.0% of sales in the fourth quarter of Fiscal 2026 and 6.4% in the fourth quarter last year.
The effective tax rate for the quarter was 6.4% in Fiscal 2026 compared to 25.8% in the fourth quarter last year. The adjusted tax rate, reflecting Excluded Items, was 27.4% in Fiscal 2026 compared to 23.8% in the fourth quarter last year. The higher adjusted tax rate for the fourth quarter of Fiscal 2026 compared to the fourth quarter last year primarily reflects a higher expected tax rate for Fiscal 2026 versus Fiscal 2025 due to the impact of the valuation allowance in certain jurisdictions and additional global minimum tax under the Organization for Economic Cooperation and Development’s Pillar Two framework. The divergence between the effective tax rate and the adjusted tax rate is due to income tax law changes under the OBBBA in Fiscal 2026, which we have excluded from the adjusted tax rate in Fiscal 2026.
GAAP earnings from continuing operations were $47.5 million in the fourth quarter of Fiscal 2026 compared to $33.6 million in the fourth quarter last year. Adjusted for the Excluded Items, fourth quarter earnings from continuing operations were $40.2 million, or $3.74 per share, in Fiscal 2026, compared to $35.8 million, or $3.26 per share, in the fourth quarter last year.
Full Year Review
Net sales for Fiscal 2026 increased 5% to $2.4 billion compared to $2.3 billion in Fiscal 2025. The net sales increase for Fiscal 2026 reflected a 6% increase in comparable sales, including a 6% increase in same store sales and a 4% increase in e-commerce comparable sales, and a favorable foreign exchange impact, partially offset by 42 net store closings and decreased wholesale sales.
Overall sales for Fiscal 2026 compared to Fiscal 2025 increased 7% at Journeys and 4% at Schuh, partially offset by a decrease of 4% at Genesco Brands, while sales at Johnston & Murphy were flat. On a constant currency basis, Schuh sales were flat for Fiscal 2026.
Gross margin for Fiscal 2026 was 46.3% compared with 47.2% last year. Adjusted gross margin for Fiscal 2026 decreased 90 basis points as a percentage of sales compared to last year. The decrease as a percentage of sales compared to Fiscal 2025 is due primarily to increased promotional activity at Schuh and lower margins at Genesco Brands related to the exit of licenses and ongoing tariff pressure. Gross margins were flat for both Journeys and Johnston & Murphy for Fiscal 2026.
Selling and administrative expenses for Fiscal 2026 decreased 120 basis points as a percentage of sales to 45.2% compared to 46.4% last year. The decrease as a percentage of sales compared to Fiscal 2025 reflects decreased occupancy costs and selling salaries along with other expenses as part of our cost savings initiatives.
Genesco’s GAAP operating income for Fiscal 2026 was $17.3 million, or 0.7% of sales, compared to $13.9 million, or 0.6% of sales last year. Adjusted for the Excluded Items in Fiscal 2026 and 2025, operating income was $26.6 million in Fiscal 2026 compared to $18.9 million last year. Adjusted operating margin was 1.1% of sales in Fiscal 2026 and 0.8% of sales last year.
The effective tax rate was -5.4% in Fiscal 2026 compared to 309.6% last year. The adjusted tax rate, reflecting the Excluded Items, was 29.9% in Fiscal 2026 compared to 27.7% last year. The higher adjusted tax rate for Fiscal 2026 compared to Fiscal 2025 reflects a higher expected tax rate for Fiscal 2026 versus Fiscal 2025 due to the impact of the valuation allowance in certain jurisdictions and additional global minimum tax under the Organization for Economic Cooperation and Development’s Pillar Two framework. The divergence between the effective tax rate and the adjusted tax rate is due to income tax law changes under the OBBBA in Fiscal 2026 and recording a $26.3 million U.S. valuation allowance in Fiscal 2025, both of which we have excluded from the adjusted tax rate in Fiscal 2026 and 2025.
GAAP earnings from continuing operations were $13.3 million in Fiscal 2026 compared to a loss from continuing operations of $19.5 million last year. Adjusted for the Excluded Items in Fiscal 2026 and 2025, tax law changes under OBBBA in Fiscal 2026 and the U.S. valuation allowance in Fiscal 2025, earnings from continuing operations were $15.4 million, or $1.45 per share, in Fiscal 2026, compared to $10.3 million, or $0.94 per share, last year.
Cash, Borrowings and Inventory
Cash as of January 31, 2026 was $105.4 million, compared with $34.0 million as of February 1, 2025. Total debt at the end of the fourth quarter of Fiscal 2026 was $3.4 million compared with zero at the end of last year’s fourth quarter. Inventories increased 2% on a year-over-year basis reflecting increased inventory for Journeys and Johnston & Murphy, partially offset by decreased inventory at Genesco Brands, while inventory at Schuh was down on a constant currency basis.
Capital Expenditures and Store Activity
For the fourth quarter of Fiscal 2026, capital expenditures were $10 million, related primarily to retail stores and other initiatives. Depreciation and amortization was $13 million. During the quarter, the Company opened six stores and closed 15 stores. The Company ended the quarter with 1,236 stores compared with 1,278 stores at the end of the fourth quarter last year, or a decrease of 3%. Square footage was down 2% on a year-over-year basis.
Share Repurchases
The Company did not repurchase any shares during the fourth quarter of Fiscal 2026. The Company repurchased 604,531 shares for $12.6 million, or $20.79 per share, during Fiscal 2026. The Company currently has $29.8 million remaining on its expanded share repurchase authorization announced in June 2023.
Fiscal 2027 Outlook
Vaughn concluded, “We have clear plans in place to drive continued improvement in Fiscal 2027. Our top-line guidance reflects another year of overall positive comparable sales growth, offset by store closures and license transitions in our branded footwear group. The projected increase in our bottom line is being driven by another year of increased profitability at Journeys, improvement at Johnston & Murphy and higher gross margins, primarily at Schuh, as we reduce the business’ dependency on promotions and focus on returning to a full price, full margin sales model.”
For Fiscal 2027, the Company:
Expects positive comparable sales of 1% to 2%
Expects total sales to be down 1% to flat compared to Fiscal 2026 including a reduction in sales of approximately $30 million net due to the exit of licenses and approximately $30 million related to net store closures
Expects adjusted diluted earnings per share from continuing operations in the range of $1.90 to $2.30 2
Guidance assumes no further share repurchases and a tax rate of 30% for Fiscal 2027 but due to the valuation allowance, the tax rate for the first three quarters of the year will be in the range of approximately 7% to 8%
Conference Call, Management Commentary and Investor Presentation
The Company has posted detailed financial commentary and a supplemental financial presentation of fourth quarter results on its website, www.genesco.com, in the investor relations section. The Company's live conference call on March 6, 2026, at 7:30 a.m. (Central time), may be accessed through the Company's website, www.genesco.com. To listen live, please go to the website at least 15 minutes early to register, download and install any necessary software.
___________________________
2A reconciliation of the adjusted financial measures cited in the guidance to their corresponding measures as reported pursuant to GAAP is included in Schedule B to this press release.
Safe Harbor Statement
This release contains forward-looking statements, including those regarding future sales, earnings, operating income, gross margins, expenses, capital expenditures, depreciation and amortization, tax rates, store openings and closures, cost reductions, and all other statements not addressing solely historical facts or present conditions. Forward-looking statements are usually identified by or are associated with such words as “intend,” “expect,” “feel,” “should,” “believe,” “anticipate,” “optimistic,” “confident” and similar terminology. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences. These include adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store, e-commerce and shopping mall traffic, the imposition of tariffs (including the timing and amount thereof) on products imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; our ability to pass on price increases to our customers; restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements, and limitations on the Company’s ability to adequately staff and operate stores. Differences from expectations could also result from store closures and effects on the business as a result of the level of consumer spending on our merchandise and interest in our brands and in general; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the Company’s ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of pandemics or geopolitical events, including shipping disruptions near crucial trade routes; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; a disruption in shipping or increase in cost of our imported products, and other factors affecting the cost of products; our dependence on third-party vendors and licensors for the products we sell; store closures and effects on the business as a result of civil disturbances; our ability to renew our license agreements; impacts of the Russia-Ukraine war, the conflict in Israel and the surrounding areas; and other sources of market weakness in the locations in which we operate; the effectiveness of the Company's omnichannel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressures; labor shortages; the effects of inflation; the evolving regulatory landscape related to our use of social media; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets, including trends with respect to the popularity of casual and dress footwear; any failure to increase sales at our existing stores, given our high fixed expense cost structure, and in our e -commerce businesses; risks related to the potential for terrorist events; risks related to public health and safety events; changes in buying patterns by significant wholesale customers; changes in consumer preferences; our ability to continue to complete and integrate acquisitions; our ability to expand our business and diversify our product base; impairment of goodwill in connection with acquisitions; payment related risks that could increase our operating cost, expose us to fraud or theft, subject us to potential liability and disrupt our business; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor of certain leases; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to secure allocations to refine product assortments to address consumer demand; the ability to renew leases in existing stores and control or lower occupancy costs, to open or close stores in the number and on the planned schedule, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; the Company’s ability to realize anticipated cost savings, including rent savings and savings in connection with the restructuring of the Company’s information technology functions; the amount and timing of share repurchases; our ability to make our occupancy costs more variable; the Company’s ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems, including as a result of security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems or as the result of the restructuring of the Company’s information technology functions; changes in tax laws and tax rates and the Company’s ability to realize any anticipated tax benefits in both the amount and timeframe anticipated; and the cost and outcome of litigation, investigations, environmental matters and other disputes involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements.
About Genesco Inc.
Genesco Inc. (NYSE: GCO) is a footwear first company with distinctively positioned retail and lifestyle brands and proven omnichannel capabilities offering customers the footwear they desire in engaging shopping environments, including more than 1,230 retail stores and branded e-commerce websites. Its Journeys, Little Burgundy and Schuh brands serve teens, kids and young adults with on-trend fashion footwear inspired by youth culture in the U.S., Canada and the U.K. Johnston & Murphy serves successful, affluent men and women with premium footwear, apparel and accessories in the U.S. and Canada, and Genesco Brands Group sells branded lifestyle footwear to leading retailers under licensed brands including Wrangler, Dockers and Starter. Founded in 1924, Genesco is based in Nashville, Tennessee. For more information on Genesco and its operating divisions, please visit www.genesco.com.
GENESCO INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
Quarter 4
Quarter 4
Jan. 31,
% of
Feb. 1,
% of
2026
Net Sales
2025
Net Sales
Net sales
$
799,941
100.0
%
$
745,949
100.0
%
Cost of sales
432,849
54.1
%
396,312
53.1
%
Gross margin(1)
367,092
45.9
%
349,637
46.9
%
Selling and administrative expenses
312,448
39.1
%
301,775
40.5
%
Asset impairments and other, net(2)
3,321
0.4
%
1,745
0.2
%
Operating income
51,323
6.4
%
46,117
6.2
%
Other components of net periodic benefit cost
148
0.0
%
86
0.0
%
Interest expense, net
416
0.1
%
802
0.1
%
Earnings from continuing operations before
income taxes
50,759
6.3
%
45,229
6.1
%
Income tax expense
3,237
0.4
%
11,676
1.6
%
Earnings from continuing operations
47,522
5.9
%
33,553
4.5
%
Gain from discontinued operations, net of tax(3)
89
0.0
%
828
0.1
%
Net Earnings
$
47,611
6.0
%
$
34,381
4.6
%
Basic earnings per share:
Before discontinued operations
$
4.60
$
3.13
Net earnings
$
4.60
$
3.20
Diluted earnings per share:
Before discontinued operations
$
4.43
$
3.06
Net earnings
$
4.44
$
3.13
Weighted-average shares outstanding:
Basic
10,339
10,736
Diluted
10,729
10,981
(1) Includes a $1.3 million gross margin charge in the fourth quarter of Fiscal 2026 for inventory write-down in Genesco Brands Group related to license exits.
(2) Includes a $3.3 million charge in the fourth quarter of Fiscal 2026 which includes $2.9 million for costs associated with information technology transformation and $0.4 million for asset impairments.
Includes a $1.7 million charge in the fourth quarter of Fiscal 2025 which includes $0.9 million for asset impairments and $0.8 million for severance.
(3) The gain from discontinued operations in the fourth quarter of Fiscal 2025 includes a $1.2 million pretax gain from insurance proceeds related to legacy environmental matters.
GENESCO INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
Fiscal Year Ended
Fiscal Year Ended
Jan. 31,
% of
Feb. 1,
% of
2026
Net Sales
2025
Net Sales
Net sales
$
2,436,096
100.0
%
$
2,325,062
100.0
%
Cost of sales
1,309,246
53.7
%
1,228,249
52.8
%
Gross margin(1)
1,126,850
46.3
%
1,096,813
47.2
%
Selling and administrative expenses
1,101,468
45.2
%
1,079,653
46.4
%
Asset impairments and other, net(2)
8,068
0.3
%
3,235
0.1
%
Operating income
17,314
0.7
%
13,925
0.6
%
Other components of net periodic benefit cost
625
0.0
%
367
0.0
%
Interest expense, net
4,098
0.2
%
4,250
0.2
%
Earnings from continuing operations before income
taxes
12,591
0.5
%
9,308
0.4
%
Income tax expense (benefit)(3)
(685
)
0.0
%
28,820
1.2
%
Earnings (loss) from continuing operations
13,276
0.5
%
(19,512
)
-0.8
%
Gain (loss) from discontinued operations, net of tax(4)
(7
)
0.0
%
622
0.0
%
Net Earnings (Loss)
$
13,269
0.5
%
$
(18,890
)
-0.8
%
Basic earnings (loss) per share:
Before discontinued operations
$
1.28
$
(1.80
)
Net earnings (loss)
$
1.28
$
(1.74
)
Diluted earnings (loss) per share:
Before discontinued operations
$
1.25
$
(1.80
)
Net earnings (loss)
$
1.25
$
(1.74
)
Weighted-average shares outstanding:
Basic
10,366
10,836
Diluted
10,624
10,836
(1) Includes a $1.3 million gross margin charge in Fiscal 2026 for inventory write-down in Genesco Brands Group related to license exits and a $1.8 million gross margin charge in Fiscal 2025 related to a distribution model transition in Genesco Brands Group.
(2) Includes an $8.1 million charge in Fiscal 2026 which includes $3.9 million for store restructuring, $2.9 million for costs associated with information technology transformation, $0.7 million for asset impairments and $0.6 million for severance.
Includes a $3.2 million charge in Fiscal 2025 which includes $1.8 million for severance and $1.4 million for asset impairments.
(3) Includes a $26.2 million U.S. valuation allowance in Fiscal 2025.
(4) The gain from discontinued operations in Fiscal 2025 includes a $1.2 million pretax gain from insurance proceeds related to legacy environmental matters.
GENESCO INC.
Sales/Earnings Summary by Segment
(in thousands)
(Unaudited)
Quarter 4
Quarter 4
Jan. 31,
% of
Feb. 1,
% of
2026
Net Sales
2025
Net Sales
Sales:
Journeys Group
$
527,119
65.9
%
$
478,114
64.1
%
Schuh Group
153,746
19.2
%
141,155
18.9
%
Johnston & Murphy Group
93,414
11.7
%
91,501
12.3
%
Genesco Brands Group
25,662
3.2
%
35,179
4.7
%
Net Sales
$
799,941
100.0
%
$
745,949
100.0
%
Operating Income (Loss):
Journeys Group
$
60,206
11.4
%
$
43,152
9.0
%
Schuh Group
928
0.6
%
5,637
4.0
%
Johnston & Murphy Group
6,465
6.9
%
6,555
7.2
%
Genesco Brands Group(1)
(1,958
)
-7.6
%
1,391
4.0
%
Corporate and Other(2)
(14,318
)
-1.8
%
(10,618
)
-1.4
%
Operating income
51,323
6.4
%
46,117
6.2
%
Other components of net periodic benefit cost
148
0.0
%
86
0.0
%
Interest, net
416
0.1
%
802
0.1
%
Earnings from continuing operations before
income taxes
50,759
6.3
%
45,229
6.1
%
Income tax expense
3,237
0.4
%
11,676
1.6
%
Earnings from continuing operations
47,522
5.9
%
33,553
4.5
%
Gain from discontinued operations, net of tax(3)
89
0.0
%
828
0.1
%
Net Earnings
$
47,611
6.0
%
$
34,381
4.6
%
(1) Includes a $1.3 million gross margin charge in the fourth quarter of Fiscal 2026 for inventory write-down in Genesco Brands Group related to license exits.
(2) Includes a $3.3 million charge in the fourth quarter of Fiscal 2026 which includes $2.9 million for costs associated with information technology transformation and $0.4 million for asset impairments.
Includes a $1.7 million charge in the fourth quarter of Fiscal 2025 which includes $0.9 million for asset impairments and $0.8 million for severance.
(3) The gain from discontinued operations in the fourth quarter of Fiscal 2025 includes a $1.2 million pretax gain from insurance proceeds related to legacy environmental matters.
GENESCO INC.
Sales/Earnings Summary by Segment
(in thousands)
(Unaudited)
Fiscal Year Ended
Fiscal Year Ended
Jan. 31,
% of
Feb. 1,
% of
2026
Net Sales
2025
Net Sales
Sales:
Journeys Group
$
1,494,649
61.4
%
$
1,398,922
60.2
%
Schuh Group
500,022
20.5
%
479,891
20.6
%
Johnston & Murphy Group
320,199
13.1
%
320,208
13.8
%
Genesco Brands Group
121,226
5.0
%
126,041
5.4
%
Net Sales
$
2,436,096
100.0
%
$
2,325,062
100.0
%
Operating Income (Loss):
Journeys Group
$
60,490
4.0
%
$
26,345
1.9
%
Schuh Group
(4,545
)
-0.9
%
10,199
2.1
%
Johnston & Murphy Group
4,588
1.4
%
8,416
2.6
%
Genesco Brands Group(1)
(66
)
-0.1
%
6,806
5.4
%
Corporate and Other(2)
(43,153
)
-1.8
%
(37,841
)
-1.6
%
Operating income
17,314
0.7
%
13,925
0.6
%
Other components of net periodic benefit cost
625
0.0
%
367
0.0
%
Interest, net
4,098
0.2
%
4,250
0.2
%
Earnings from continuing operations before income
taxes
12,591
0.5
%
9,308
0.4
%
Income tax expense (benefit)(3)
(685
)
0.0
%
28,820
1.2
%
Earnings (loss) from continuing operations
13,276
0.5
%
(19,512
)
-0.8
%
Gain (loss) from discontinued operations, net of tax(4)
(7
)
0.0
%
622
0.0
%
Net Earnings (Loss)
$
13,269
0.5
%
$
(18,890
)
-0.8
%
(1) Includes a $1.3 million gross margin charge in Fiscal 2026 for inventory write-down in Genesco Brands Group related to license exits and a $1.8 million
gross margin charge in Fiscal 2025 related to a distribution model transition in Genesco Brands Group.
(2) Includes an $8.1 million charge in Fiscal 2026 which includes $3.9 million for store restructuring, $2.9 million for costs associated with information technology transformation, $0.7 million for asset impairments and $0.6 million for severance.
Includes a $3.2 million charge in Fiscal 2025 which includes $1.8 million for severance and $1.4 million for asset impairments.
(3) Includes a $26.2 million U.S. valuation allowance in Fiscal 2025.
(4) The gain from discontinued operations in Fiscal 2025 includes a $1.2 million pretax gain from insurance proceeds related to legacy environmental matters.
GENESCO INC.
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
January 31, 2026
February 1, 2025
Assets
Cash and cash equivalents
$
105,405
$
34,007
Accounts receivable
39,825
48,865
Inventories
433,878
425,224
Other current assets(1)
39,408
100,660
Total current assets
618,516
608,756
Property and equipment
237,656
228,022
Operating lease right of use assets
472,815
438,273
Goodwill and other intangibles
37,326
34,922
Other non-current assets
26,665
25,563
Total Assets
$
1,392,978
$
1,335,536
Liabilities and Equity
Accounts payable
$
156,735
$
168,077
Current portion operating lease liabilities
119,216
124,010
Other current liabilities
100,391
87,695
Total current liabilities
376,342
379,782
Long-term debt
3,379
-
Long-term operating lease liabilities
398,788
361,079
Other long-term liabilities
47,425
47,705
Equity
567,044
546,970
Total Liabilities and Equity
$
1,392,978
$
1,335,536
(1) Includes prepaid income taxes of $66.0 million at February 1, 2025.
GENESCO INC.
Store Count Activity
Balance
Balance
Balance
02/03/24
Open
Close
02/01/25
Open
Close
01/31/26
Journeys Group
1,063
7
64
1,006
8
49
965
Schuh Group
122
4
2
124
1
7
118
Johnston & Murphy Group
156
1
9
148
14
9
153
Total Retail Stores
1,341
12
75
1,278
23
65
1,236
GENESCO INC.
Store Count Activity
Balance
Balance
11/01/25
Open
Close
01/31/26
Journeys Group
974
2
11
965
Schuh Group
119
0
1
118
Johnston & Murphy Group
152
4
3
153
Total Retail Stores
1,245
6
15
1,236
GENESCO INC.
Comparable Sales
Quarter 4
Fiscal Year Ended
Jan. 31,
Feb. 1,
Jan. 31,
Feb. 1,
2026
2025
2026
2025
Journeys Group
12%
14%
9%
6%
Schuh Group
3%
2%
0%
-2%
Johnston & Murphy Group
2%
0%
0%
-2%
Total Comparable Sales
9%
10%
6%
3%
Same Store Sales
9%
6%
6%
0%
Comparable E-commerce Sales
8%
18%
4%
12%
Schedule B
Genesco Inc.
Adjustments to Reported Earnings from Continuing Operations
Three Months Ended January 31, 2026 and February 1, 2025
The Company believes that disclosure of earnings and earnings per share from continuing operations and operating income adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.
Quarter 4
Quarter 4
January 31, 2026
February 1, 2025
Net of
Per Share
Net of
Per Share
In Thousands (except per share amounts)
Pretax
Tax
Amounts
Pretax
Tax
Amounts
Earnings from continuing operations, as reported
$
47,522
$
4.43
$
33,553
$
3.06
Gross margin adjustment:
Charges related to distribution model transition
$
-
-
0.00
$
-
12
0.00
Inventory write-down related to exit of licenses
1,253
913
0.09
-
-
0.00
Total gross margin adjustment
$
1,253
913
0.09
$
-
12
0.00
Asset impairments and other adjustments:
Asset impairment charges
$
478
365
0.03
$
890
678
0.06
Store restructuring charges
-
34
0.00
-
-
0.00
Costs associated with information technology transformation
2,843
2,086
0.19
-
-
0.00
Severance
-
6
0.00
855
668
0.06
Total asset impairments and other adjustments
$
3,321
2,491
0.22
$
1,745
1,346
0.12
Income tax expense adjustments:
One big beautiful bill impact
(11,899
)
(1.11
)
-
0.00
U.S. valuation allowance
-
0.00
(7
)
0.00
Tax impact share based awards
743
0.07
(134
)
(0.01
)
Other tax items
399
0.04
1,038
0.09
Total income tax expense adjustments
(10,757
)
(1.00
)
897
0.08
Adjusted earnings from continuing operations (1) and (2)
$
40,169
$
3.74
$
35,808
$
3.26
(1) The adjusted tax rate for the fourth quarter of Fiscal 2026 and 2025 is 27.4% and 23.8%, respectively.
(2) EPS reflects 10.7 million and 11.0 million share count for the fourth quarter of Fiscal 2026 and 2025, respectively, which includes common stock equivalents in both periods.
Genesco Inc.
Adjustments to Reported Operating Income and Gross Margin
Three Months Ended January 31, 2026 and February 1, 2025
Quarter 4 - January 31, 2026
Operating
Asset Impair
Adj Operating
In Thousands
Income (Loss)
& Other Adj
Income (Loss)
Journeys Group
$
60,206
$
-
$
60,206
Schuh Group
928
-
928
Johnston & Murphy Group
6,465
-
6,465
Genesco Brands Group
(1,958
)
1,253
(705
)
Corporate and Other
(14,318
)
3,321
(10,997
)
Total Operating Income
$
51,323
$
4,574
$
55,897
% of sales
6.4
%
7.0
%
Depreciation and amortization
13,097
Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")(1)
$
68,994
% of sales
8.6
%
Quarter 4 - February 1, 2025
Operating
Asset Impair
Adj Operating
In Thousands
Income (Loss)
& Other Adj
Income (Loss)
Journeys Group
$
43,152
$
-
$
43,152
Schuh Group
5,637
-
5,637
Johnston & Murphy Group
6,555
-
6,555
Genesco Brands Group
1,391
-
1,391
Corporate and Other
(10,618
)
1,745
(8,873
)
Total Operating Income
$
46,117
$
1,745
$
47,862
% of sales
6.2
%
6.4
%
Depreciation and amortization
13,004
Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")(1)
$
60,866
% of sales
8.2
%
(1) Excludes "Other components of net periodic benefit cost" line item on the Consolidated Statements of Operations.
Quarter 4
In Thousands
Jan. 31, 2026
Feb. 1, 2025
Gross margin, as reported
$
367,092
$
349,637
% of sales
45.9
%
46.9
%
Inventory write-down related to exit of licenses
1,253
-
Total gross margin adjustments
1,253
-
Adjusted gross margin
$
368,345
$
349,637
% of sales
46.0
%
46.9
%
Schedule B
Genesco Inc.
Adjustments to Reported Earnings (Loss) from Continuing Operations
Fiscal Year Ended January 31, 2026 and February 1, 2025
The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.
Fiscal Year Ended
Fiscal Year Ended
January 31, 2026
February 1, 2025
Net of
Per Share
Net of
Per Share
In Thousands (except per share amounts)
Pretax
Tax
Amounts
Pretax
Tax
Amounts
Earnings (loss) from continuing operations, as reported
$
13,276
$
1.25
$
(19,512
)
($
1.80
)
Gross margin adjustment:
Charges related to distribution model transition
$
-
-
0.00
$
1,750
1,345
0.12
Inventory write-down related to exit of licenses
1,253
913
0.09
-
-
0.00
Total gross margin adjustment
$
1,253
913
0.09
$
1,750
1,345
0.12
Asset impairments and other adjustments:
Asset impairment charges
$
737
552
0.05
$
1,384
1,054
0.09
Store restructuring charges
3,891
2,904
0.27
-
-
0.00
Costs associated with information technology transformation
2,843
2,086
0.20
-
-
0.00
Severance
597
435
0.04
1,851
1,426
0.13
Impact of additional dilutive shares
-
-
0.00
-
-
0.03
Total asset impairments and other adjustments
$
8,068
5,977
0.56
$
3,235
2,480
0.25
Income tax expense adjustments:
Tax impact share based awards
743
0.07
588
0.05
One big beautiful bill impact
(5,216
)
(0.49
)
-
0.00
U.S. valuation allowance
-
0.00
26,243
2.39
Other tax items
(322
)
(0.03
)
(804
)
(0.07
)
Total income tax expense adjustments
(4,795
)
(0.45
)
26,027
2.37
Adjusted earnings from continuing operations (1) and (2)
$
15,371
$
1.45
$
10,340
$
0.94
(1) The adjusted tax rate for Fiscal 2026 and 2025 is 29.9% and 27.7%, respectively.
(2) EPS reflects 10.6 million and 11.0 million share count for Fiscal 2026 and 2025, respectively, which includes common stock equivalents in both periods for adjusted earnings from continuing operations. The loss from continuing operations for Fiscal 2025, as reported, excludes common stock equivalents.
Genesco Inc.
Adjustments to Reported Operating Income and Gross Margin
Fiscal Year Ended January 31, 2026 and February 1, 2025
Fiscal Year Ended January 31, 2026
Operating
Asset Impair
Adj Operating
In Thousands
Income (Loss)
& Other Adj
Income (Loss)
Journeys Group
$
60,490
$
-
$
60,490
Schuh Group
(4,545
)
-
(4,545
)
Johnston & Murphy Group
4,588
-
4,588
Genesco Brands Group
(66
)
1,253
1,187
Corporate and Other
(43,153
)
8,068
(35,085
)
Total Operating Income
$
17,314
$
9,321
$
26,635
% of sales
0.7
%
1.1
%
Depreciation and amortization
53,325
Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")(1)
$
79,960
% of sales
3.3
%
Fiscal Year Ended February 1, 2025
Operating
Asset Impair
Adj Operating
In Thousands
Income (Loss)
& Other Adj
Income (Loss)
Journeys Group
$
26,345
$
-
$
26,345
Schuh Group
10,199
-
10,199
Johnston & Murphy Group
8,416
-
8,416
Genesco Brands Group
6,806
1,750
8,556
Corporate and Other
(37,841
)
3,235
(34,606
)
Total Operating Income
$
13,925
$
4,985
$
18,910
% of sales
0.6
%
0.8
%
Depreciation and amortization
52,464
Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")(1)
$
71,374
% of sales
3.1
%
(1) Excludes "Other components of net periodic benefit cost" line item on the Consolidated Statements of Operations.
Fiscal Year Ended
In Thousands
Jan. 31, 2026
Feb. 1, 2025
Gross margin, as reported
$
1,126,850
$
1,096,813
% of sales
46.3
%
47.2
%
Inventory write-down related to exit of licenses
1,253
-
Charges related to distribution model transition
-
1,750
Total gross margin adjustments
1,253
1,750
Adjusted gross margin
$
1,128,103
$
1,098,563
% of sales
46.3
%
47.2
%
Schedule B
Genesco Inc.
Adjustments to Forecasted Earnings from Continuing Operations
Fiscal Year Ending January 30, 2027
In millions (except per share amounts)
High Guidance
Low Guidance
Fiscal 2027
Fiscal 2027
Net of Tax
Per Share
Net of Tax
Per Share
Forecasted earnings from continuing operations
$
27.8
$
2.55
$
23.0
$
2.12
Asset impairments and other adjustments:
Asset impairments and other matters
6.6
0.61
7.0
0.64
Visa/Mastercard interchange fee antitrust settlement
(9.4
)
(0.86
)
(9.4
)
(0.86
)
Total asset impairments and other adjustments (1)
(2.8
)
(0.25
)
(2.4
)
(0.22
)
Adjusted forecasted earnings from continuing operations (2)
$
25.0
$
2.30
$
20.6
$
1.90
(1) All adjustments are net of tax where applicable. The forecasted tax rate for Fiscal 2027 is approximately 30%. Due to the valuation allowance, the tax rate for quarters 1-3 will be in the range of approximately 7% to 8%.
(2) EPS reflects 10.9 million share count for Fiscal 2027 which includes common stock equivalents.
This reconciliation reflects estimates and current expectations of future results. Actual results may vary materially from these expectations and estimates, for reasons including those included in the discussion of forward-looking statements elsewhere in this release. The Company disclaims any obligation to update such expectations and estimates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260305566807/en/
Genesco Financial Contact
Jason Ware, Vice President, Investor Relations
jware@genesco.com
Genesco Media Contact
Claire S. McCall, Director, Corporate Relations
(615) 367-8283 / cmccall@genesco.com
Original: Genesco Inc. Reports Fiscal 2026 Fourth Quarter and Full Year Results
MiamiGent
13年前
GCO Genesco Reports First Quarter Fiscal 2014 Results
BY PR Newswire — 7:42 AM ET 05/31/2013
NASHVILLE, Tenn., May 31, 2013 /PRNewswire/ -- Genesco Inc. (GCO) today reported earnings from continuing operations for the first quarter ended May 4, 2013, of $18.5 million, or $0.78 per diluted share, compared to earnings from continuing operations of $20.8 million, or $0.86 per diluted share, for the first quarter ended April 28, 2012.
Fiscal 2014 first quarter results reflect expenses of $4.2 million, or $0.16 per diluted share after tax, including $2.9 million of expenses related to deferred purchase price payments in connection with the acquisition of Schuh Group Limited, which are required to be expensed as compensation because the payment is contingent upon the payees' continued employment; and $1.3 million in asset impairment charges and network intrusion expenses. Fiscal 2013 first quarter results reflect expenses of $3.1 million, or $0.12 per diluted share after tax, primarily including deferred purchase price payments in connection with the acquisition of Schuh Group Limited.
Adjusted for the items described above in both periods, earnings from continuing operations were $22.2 million, or $0.94 per diluted share, for the first quarter of Fiscal 2014, compared to earnings from continuing operations of $23.8 million, or $0.98 per diluted share, for the first quarter of Fiscal 2013. For consistency with Fiscal 2014's previously announced earnings expectations and with previously reported adjusted results for the prior year period, the Company believes that the disclosure of the results from continuing operations adjusted for these items will be useful to investors. Additionally, the Company believes that the presentation of earnings from continuing operations before the compensation expense associated with the Schuh deferred purchase price will enable investors to understand the effect attributable to incorporating a continuing employment condition into the obligation to pay deferred purchase price. A reconciliation of earnings and earnings per share from continuing operations in accordance with U.S. Generally Accepted Accounting Principles with the adjusted earnings and earnings per share numbers presented in this paragraph is set forth on Schedule B to this press release.
Net sales for the first quarter of Fiscal 2014 decreased 1.5% to $591 million from $600 million in the first quarter of Fiscal 2013. Consolidated first quarter 2014 comparable sales, including same store sales and comparable e-commerce and catalog sales, decreased 4%, with a 2% decrease in the Journeys Group, a 6% decrease in the Lids Sports Group, an 11% decrease in the Schuh Group, and a 7% increase in the Johnston & Murphy Group.
Robert J. Dennis, chairman, president and chief executive officer of Genesco (GCO), said, "After a slow start in February, which we attribute primarily to delayed processing of federal income tax refunds, comparable sales improved for the balance of the quarter, despite continued headwinds from unseasonably cold weather. Strong gains in our direct channel helped partially offset soft retail traffic, which combined with well-controlled expenses allowed us to deliver earnings that were slightly ahead of expectations.
"The improved sales trends we experienced during the March - April period have accelerated during the second quarter so far with May comparable sales up 1% through May 25. We are encouraged by the recent momentum and optimistic about our prospects for the upcoming back to school season.
"Based on first quarter performance and current visibility, we remain comfortable with our previously issued guidance for adjusted Fiscal 2014 diluted earnings per share in the range of $5.57 to $5.67, a 10% to 12% increase over Fiscal 2013's adjusted earnings per share of $5.06. Consistent with our previous guidance, these expectations do not include non-cash asset impairments and network intrusion expenses, which we estimate will be in the range of $3.4 million to $4.4 million pretax, or $0.09 to $0.12 per share, after tax, in Fiscal 2014. They also do not reflect compensation expense associated with the Schuh deferred purchase price as described above, which is currently estimated at approximately $11.5 million, or $0.49 per diluted share, for the full year. This guidance assumes a comparable sales increase in the low single digit range for the full fiscal year." A reconciliation of the adjusted financial measures cited in the guidance to their corresponding measures as reported pursuant to U.S. Generally Accepted Accounting Principles is included in Schedule B to this press release."
Dennis concluded, "We believe the investments we are making in our businesses, including improved e-commerce infrastructure and selective store openings, are delivering solid returns and positioning the Company for sustainable sales and earnings growth in the years ahead. Our teams continue to execute at a high level, and we remain on track to achieve our 5-year target of $3.5 billion in sales and an operating margin of 9.5% by fiscal 2017."
Conference Call and Management Commentary
The Company has posted detailed financial commentary in writing on its website, www.genesco.com, in the investor relations section. The Company's live conference call on May 31, 2013 at 7:30 a.m. (Central time), may be accessed through the Company's internet website, www.genesco.com. To listen live, please go to the website at least 15 minutes early to register, download and install any necessary software.
Cautionary Note Concerning Forward-Looking Statements
This release contains forward-looking statements, including those regarding the performance outlook for the Company and its individual businesses (including, without limitation, sales, margins and earnings) and all other statements not addressing solely historical facts or present conditions. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences. These include adjustments to estimates reflected in forward-looking statements, including the amount of required accruals related to the earn-out bonus potentially payable to Schuh management based on the achievement of certain performance objectives; the timing and amount of non-cash asset impairments related to retail store fixed assets or to intangible assets of acquired businesses; weakness in the consumer economy; competition in the Company's markets; inability of customers to obtain credit; fashion trends that affect the sales or product margins of the Company's retail product offerings; changes in buying patterns by significant wholesale customers; bankruptcies or deterioration in financial condition of significant wholesale customers; disruptions in product supply or distribution; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; the Company's ability to continue to complete and integrate acquisitions, expand its business and diversify its product base; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could affect the Company's prospects and cause differences from expectations include the ability to build, open, staff and support additional retail stores and to renew leases in existing stores and maintain reductions in occupancy costs achieved in recent lease negotiations, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of fixed assets or intangible assets or other adverse financial consequences; unexpected changes to the market for the Company's shares; variations from expected pension-related charges caused by conditions in the financial markets; and the outcome of litigation, investigations and environmental matters involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, our SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco (GCO) via our website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco (GCO)'s ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements.
About Genesco Inc.
Genesco Inc. (GCO), a Nashville-based specialty retailer, sells footwear, headwear, sports apparel and accessories in more than 2,455 retail stores throughout the U.S., Canada, the United Kingdom and the Republic of Ireland, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Underground by Journeys, Schuh, Lids, Locker Room by Lids, Johnston & Murphy, and on internet websites www.journeys.com, www.journeyskidz.com, www.shibyjourneys.com, www.undergroundbyjourneys.com, www.schuh.co.uk, www.johnstonmurphy.com, www.lids.com, www.lids.ca, www.lidslockerroom.com, www.lidsteamsports.com, www.lidsclubhouse.com , www.suregripfootwear.com and www.dockersshoes.com. In addition, the Company sells wholesale footwear under its Johnston & Murphy brand, the licensed Dockers brand, SureGrip, and other brands, and operates the Lids Team Sports team dealer business. For more information on Genesco (GCO) operating divisions, please visit www.genesco.com.
GENESCO INC. (GCO)
SOURCE Genesco Inc. (GCO)
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