Genesco Inc. (GCO) reports earnings

The report was filed on March 26, 2025

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Genesco Inc. (GCO-1.02%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.

The company reported net sales of $2.3 billion, flat compared to the previous fiscal year, which included a 53rd week. Excluding the extra week, net sales increased by 1.1%.

Journeys Group sales increased by 3%, while Johnston & Murphy Group and Genesco Brands Group saw sales decreases of 6% and 11%, respectively. Schuh Group sales remained flat.

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Total comparable sales rose by 3%, with flat same store sales and a 12% increase in comparable e-commerce sales.

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Gross margin decreased slightly from 47.3% to 47.2% of net sales, while selling and administrative expenses decreased from 46.5% to 46.4% of net sales.

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Operating margin improved to 0.6% from a loss of 0.6% in the previous year.

The company reported a net loss of $18.9 million, or $1.74 per diluted share, compared to a net loss of $16.8 million, or $1.50 per diluted share, in the previous year.

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Genesco Inc. plans to open approximately 22 new retail stores and close about 68 stores in fiscal 2026.

The company identified a material weakness in its internal controls over financial reporting due to a lack of resources with SEC financial reporting experience.

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Genesco does not anticipate cash dividend payments to common stockholders in the near future.

The company continues to focus on optimizing its store footprint and enhancing its digital and omni-channel capabilities.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Genesco Inc. annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.