Genesco ( (GCO) ) has released its Q3 earnings. Here is a breakdown of the information Genesco presented to its investors.
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Genesco Inc., a Nashville-based company, specializes in footwear retail and lifestyle brands, operating over 1,240 stores and e-commerce platforms, with a focus on youth and premium markets through its Journeys, Schuh, and Johnston & Murphy brands.
In its fiscal 2026 third-quarter earnings report, Genesco Inc. announced a 3% increase in net sales to $616 million, marking its fifth consecutive quarter of positive comparable sales growth. The company highlighted a 6% rise in Journeys’ comparable sales, contributing to an overall 3% increase in comparable sales.
Key financial metrics for the quarter included a GAAP EPS of $0.51 and a non-GAAP EPS of $0.79, compared to a GAAP loss of $1.76 and a non-GAAP EPS of $0.61 in the previous year. The company reported a decrease in gross margin to 46.8% from 47.8% last year, attributed to lower margins at Genesco Brands Group and increased promotional activity at Schuh. Despite these challenges, operating income adjusted for certain items rose to $12.9 million from $10.3 million last year.
Looking forward, Genesco has revised its full-year outlook, now expecting adjusted earnings per share of approximately $0.95, down from previous estimates. The company remains focused on cost control and strategic initiatives, particularly in its Journeys and Schuh brands, to drive future growth and profitability.
Genesco’s management remains optimistic about building on the progress of its strategic plans, aiming to enhance performance across its brands and navigate market challenges with a focus on footwear-driven growth.