Genesco Inc. Reports Third Quarter Fiscal 2025 Financial Results
Genesco Inc. (NYSE: GCO) today announced its financial outcomes for the third quarter, concluding on November 2, 2024.
Key Financial Metrics
| Metric | Q3 2025 | Q3 2024 | YoY Change |
|---|---|---|---|
| Net Sales | $596M | $579M | +3% |
| Non-GAAP EPS | $0.61 | $0.57 | +7% |
Genesco's financial performance in the third quarter exceeded expectations, highlighted by a 3% increase in net sales to $596 million, fueled by a 6% rise in comparable sales. Notably, the adjusted earnings per share rose to $0.61, reflecting strong operational execution.
Segment Revenue Performance
| Segment | Q3 2025 | Change From Prior Year |
|---|---|---|
| Journeys | +4% | Meets expectations |
| Schuh | +3% | Below, down 2% constant currency |
| Genesco Brands | +10% | Solid growth |
| Johnston & Murphy | -4% | Below expectations |
Revenue growth was robust across Genesco Brands with a 10% increase, while Journeys showed a strong 4% growth. Conversely, Schuh faced a decline in constant currency terms, and Johnston & Murphy underperformed.
Key Developments and Operational Highlights
- Comparable e-commerce sales surged by 15%.
- E-commerce sales represented 24% of total retail sales, up from 21% last year.
- Despite 12 store closures at Journeys, cost-saving programs remain on track for a $45 to $50 million annualized run rate reduction by the end of Fiscal 2025.
Comments from Company Officers
Mimi E. Vaughn, the Board Chair, President, and CEO, emphasized the unexpected strong sales momentum, particularly in Journeys, which benefited from its strategic growth plan focusing on consumer experience enhancements. She highlighted cautiousness towards Schuh and Johnston & Murphy, given current consumer demand variability.
Share Repurchase Program
Genesco repurchased 17,922 shares, totaling $0.4 million, and maintains $42.3 million in its expanded authorization for future buybacks.
Forward Guidance
Genesco has raised its Fiscal 2025 outlook, projecting total sales to range from down 1% to flat. Adjusted EPS guidance is increased to the range of $0.80 to $1.00.
Overall, Genesco continues to execute its strategic initiatives successfully, driving growth in key areas while remaining prepared to address varying market conditions.
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