Quarterly ResultMay 29, 2026, 07:16 AM
Genesco Q1 Sales +3% to $487M; Raises FY EPS Outlook to $2.00-$2.40
AI Summary
Genesco Inc. reported first quarter Fiscal 2027 results that exceeded expectations, with net sales increasing 3% to $487 million and comparable sales up 2%, marking the seventh consecutive quarter of positive comparable sales growth. The company announced a new cost savings program targeting $40 to $50 million in reductions by Fiscal 2029 and raised its full-year adjusted EPS outlook to a range of $2.00 to $2.40. Gross margin improved by 30 basis points, and adjusted selling and administrative expenses leveraged by 60 basis points.
Key Highlights
- Net sales increased 3% to $487 million in Q1 FY27 compared to Q1 FY26.
- Comparable sales increased 2%, with stores up 3% and e-commerce flat.
- GAAP EPS was ($1.42) and Non-GAAP EPS was ($2.18) for Q1 FY27.
- Gross margin improved 30 basis points to 47.0% of sales.
- Adjusted selling and administrative expenses leveraged 60 basis points.
- New cost reduction program expected to generate $40 to $50 million in savings by Fiscal 2029.
- Full-year adjusted EPS outlook raised to $2.00 to $2.40 from $1.90 to $2.30.
- Journeys Group comparable sales increased 5%, Johnston & Murphy Group comparable sales increased 7%.
Price Impact
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