Editor’s Note: The EPS estimate for Q1 has been corrected
Genesco Inc. (NYSE:GCO), on Wednesday, reported mixed first-quarter 2026 results and reaffirmed fiscal 2026 EPS guidance.
The company reported an adjusted loss per share of $2.05, beating the street view of $2.09 loss. Quarterly sales of $473.973 million (increased 4% year over year) were above the analyst consensus estimate of $465.30 million.
Net sales were driven by a 5% increase at Journeys, 4% at Schuh, and 7% at Genesco Brands, partly offset by a 3% decline at Johnston & Murphy.
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Comparable sales rose 5%, with stores up 5% and e-commerce up 7%. On a constant currency basis, Schuh sales rose 1%.
The first quarter’s gross margin fell to 46.7% from 47.6% a year ago, mainly due to brand mix shifts at Journeys and Schuh, promotions at Schuh, and lower margins from product liquidations at Genesco Brands.
Genesco reported a GAAP operating loss of $28.1 million, or 5.9% of sales, …