Genesco Inc. - GCO STOCK NEWS

Genesco (NYSE: GCO) has appointed Kyle Polischuk as its new Chief Human Resources Officer, effective January 6, 2025. In this newly created position, Polischuk will lead the enterprise-wide human resources function for the footwear-focused lifestyle retailer and branded company.

With over 20 years of strategic HR experience, Polischuk will oversee Genesco's HR initiatives, including talent management and recruitment, leadership development, performance management, employee engagement, and total rewards. She will report directly to CEO Mimi Vaughn and serve on Genesco's executive management committee.

CEO Mimi Vaughn highlighted Polischuk's strategic leadership and track record in building dynamic organizations, developing talent, and promoting strong cultures, noting these qualities will support Genesco's growth strategies and help drive shareholder value.

Genesco (NYSE: GCO) has announced its upcoming participation in the 2025 ICR Conference. The company's management team is scheduled to deliver a presentation on Monday, January 13, 2025, beginning at 8:30 a.m. Eastern time. Investors and interested parties can access the presentation's webcast through Genesco's investor relations webpage at www.genesco.com.

Genesco (NYSE: GCO) reported Q3 FY2025 results with total net sales increasing 3% to $596 million and comparable sales rising 6%. Journeys, the company's key segment, showed strong performance with an 11% comparable sales increase. E-commerce sales grew significantly, representing 24% of retail sales with a 15% increase in comparable sales.

The company raised its fiscal 2025 guidance, now expecting total sales to be down 1% to flat compared to FY2024, or flat to up 1% excluding the 53rd week. Adjusted EPS guidance was raised to $0.80-$1.00. The quarter's GAAP loss was ($1.76) per share, while adjusted EPS was $0.61.

Genesco (NYSE: GCO) has announced it will release its third quarter fiscal 2025 financial results on December 6, 2024, before market opening. The company will host an earnings conference call at 7:30 a.m. Central time on the same day. A live audio webcast and archive of the call will be accessible through the company's investor relations website, along with a summary of the quarterly results.

Genesco, a Nashville-based footwear retailer, celebrated its 100th anniversary by partnering with nonprofit Soles4Souls to provide new shoes to students at Ida B. Wells Elementary School in Nashville. Over 150 Genesco employees fitted approximately 250 students with new shoes, socks, and snacks as part of the company's Cold Feet, Warm Shoes initiative, now in its 35th year.

The event recreated an in-store experience, complete with a mock shoe store and customized shoe fitting. Employees measured each student's foot and provided them with new footwear. The celebration concluded with students walking a red carpet for photos. A photo of the event is available on Business Wire's website and the Associated Press photo network.

Genesco Inc. (NYSE: GCO) has appointed Cassandra "Sandra" Harris as Senior Vice President, Finance and Chief Financial Officer, effective October 7, 2024. Harris succeeds Thomas A. George, who will retire on December 12, 2024. Harris brings extensive experience from her previous roles, including nearly 10 years at VF where she was responsible for global business and financial strategies across more than 50 lifestyle brands.

Mimi E. Vaughn, Genesco's Board Chair, President and CEO, expressed confidence in Harris's ability to drive sustainable growth, profitability, and long-term shareholder value. Harris will oversee Genesco's accounting, financial planning and analysis, investor relations, treasury, procurement and tax functions. During the transition period, George will continue as Genesco's Principal Accounting Officer.

Genesco (NYSE: GCO) announces Fiscal 2025 Q2 results with total net sales of $525 million, up slightly from $523 million year-over-year. Comparable sales fell by 2%, but e-commerce sales increased by 8%, accounting for 22% of retail sales. Despite a GAAP EPS of ($0.91) and a Non-GAAP EPS of ($0.83), inventory decreased by 8%, and $9.3 million worth of stock was repurchased. The fiscal 2025 sales outlook has improved, with expected total sales to decrease by 1-2% or remain flat excluding the fiscal week's impact. Adjusted diluted EPS from continuing operations remains in the range of $0.60 to $1.00.

The Journeys segment saw a 4% sales increase driven by diverse product offerings and strong back-to-school demand. However, Johnston & Murphy's sales decreased by 9%. Gross margin for Q2 FY2025 was 46.8%, slightly down from 47.7% last year. Operating loss improved to $10.3 million from $38.6 million last year, while cash reserves increased to $45.9 million. The company continued its cost-saving measures, closing 12 stores and targeting annual cost reductions of $45-50 million.

Genesco Inc. (NYSE: GCO) has announced that it will release its second quarter fiscal 2025 results on September 6, 2024, before the market opens. The company will also hold a quarterly earnings conference call at 7:30 a.m. Central time on the same day. Investors and interested parties can access a live audio webcast of the conference call through Genesco's investor relations website. An audio archive of the call will be available for up to one year after the event. Additionally, a summary of the second quarter results will be accessible on the company's website on the day of the announcement.

Journeys, a leader in teen fashion footwear retail, has appointed Stacy Doren as Executive Vice President and Chief Marketing Officer of the Journeys Group, effective August 1, 2024. Doren, an accomplished global brand executive, joins Journeys after a 24-year tenure at Levi's, where she most recently served as Vice President of Levi's Americas Marketing.

In her new role, Doren will lead all marketing functions, reporting directly to Journeys Group President Andy Gray. Her expertise in consumer-centric strategies, brand-building, and aligning brands with contemporary culture is expected to strengthen Journeys' relationship with consumers and drive the company's next phase of growth and innovation.