Genesco Inc. reported a slightly wider loss in the first quarter on an adjusted basis, but results strongly exceeded plan and the retailer raised its earnings guidance for the year. Comparable sales increased 2 percent as gains of 5 percent at Journeys and 7 percent at Johnston & Murphy offset a tumble of 9 percent at U.K.-based Schuh.
Consolidated et sales for the first quarter of Fiscal 2027 increased 3 percent to $487 million compared to $474 million in the first quarter of Fiscal 2026. The net sales increase reflects a 2 percent increase in comparable sales, including a 3 percent increase in same store sales, other non-comp gains and a favorable foreign exchange impact, partially offset by the impact of net store closings.
The overall sales increase of 3 percent for the first quarter of fiscal 2027 compared to the first quarter of fiscal 2026 was driven by an increase of 5 percent at Journeys, an increase of 6 percent at Johnston & Murphy and a 4 percent increase at Genesco Brands, partially offset by a decrease of 5 percent at Schuh. On a constant currency basis, Schuh sales were down 9 percent for the first quarter this year.
Income Statement Summary
Image courtesy Genesco
See below for additional in-depth coverage of the Journeys business and its expansion of its teen girl business, along with corporate Genesco details around tariff refund, Genesco’s fiscal 2027 outlook, and more:
EXEC: Journeys Talks Expanding Teen Girl Reach Beyond Vulcanized and Lifestyle
