Genesco reports Q3 non-GAAP EPS 79c, consensus 86c

Reports Q3 revenue $616M, consensus $617.7M. CEO Mimi Vaughn said, “We delivered another quarter of top and bottom-line growth, marking our fifth consecutive quarter of positive comparable sales increases. Q3 demonstrated the power of our strategic initiatives, with Journeys delivering strong double-digit comp growth during back-to-school on top of double-digit growth last year. This performance reinforces that when consumers shop for footwear, they are increasingly choosing Journeys, underscoring the momentum of our product elevation and diversification strategy as we continue to gain market share and establish ourselves as the destination for the style-led teen. We experienced a meaningful pullback in the back half of Q3, as consumers retreated following the back-to-school season when there was less of a reason to shop. Our sales trends improved during the important Black Friday / Cyber Monday period, contributing to a positive start to Q4.”