Quarterly ResultJun 11, 2026, 10:56 AM
Genesco Q1 Sales Rise 2.8% to $487M; Net Loss Narrows
AI Summary
Genesco Inc. reported a 2.8% increase in net sales to $487.0 million for the first quarter of Fiscal 2027, driven by a 2% increase in comparable sales. Gross margin improved to 47.0% of net sales, and selling and administrative expenses decreased as a percentage of net sales. The company reported a net loss of $14.8 million, an improvement from the prior year's net loss of $21.2 million. Key highlights include a gain from litigation and an expected $23-25 million in tariff refunds.
Key Highlights
- Genesco Inc. reported net sales of $487.0 million for the first quarter of Fiscal 2027, an increase of 2.8% year-over-year.
- Gross margin increased 3.5% to $228.9 million, with gross margin as a percentage of net sales improving to 47.0% from 46.7%.
- Selling and administrative expenses increased 2.2% to $254.4 million, but decreased as a percentage of net sales to 52.2% from 52.5%.
- Operating loss improved to $(15.4) million from $(28.1) million in the prior year period.
- Net loss for the quarter was $(14.8) million, or $(1.42) per diluted share, compared to a net loss of $(21.2) million, or $(2.02) per diluted share, in the prior year.
- The company received a $13.4 million gain from payment card interchange fee litigation.
- Genesco expects to receive tariff refunds of approximately $23 to $25 million.
Price Impact
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