NASHVILLE - Genesco Inc. (NYSE:GCO) reported first-quarter results that beat revenue expectations but missed on earnings.
Shares of the footwear retailer rose 7.20% in pre-market trading after the announcement.
The company posted an adjusted loss of $2.18 per share, missing estimates of $1.96. Revenue of $487 million beat the consensus of $476.67 million and increased 3% year-over-year.
Genesco achieved its seventh consecutive quarter of positive comparable sales, with total comp sales up 2%.
The company raised its full-year adjusted EPS guidance to $2.00-$2.40, up from $1.90-$2.30. The midpoint of $2.20 exceeds the analyst consensus of $2.13.
By division, Journeys posted comparable sales growth of 5%, Johnston & Murphy comps accelerated 7%, while Schuh comps declined 9% due to reduced promotions.
CEO Mimi E. Vaughn said: "After a strong finish to Fiscal 2026, we are pleased to report a solid start to Fiscal 2027."
Gross margin improved 30 basis points to 47.0%, and adjusted SG&A improved 60 basis points as a percentage of sales.
The company announced a new cost savings program targeting $40-$50 million in savings through fiscal 2029.
