Genesco Inc. - GCO STOCK NEWS

Genesco Inc. (NYSE: GCO) announced it will report its fourth quarter fiscal 2023 results on March 9, 2023, before the market opens. A quarterly earnings conference call is scheduled for 7:30 a.m. (central) on the same day. Investors can access a live audio webcast and a summary of the results on the company’s website. Genesco operates over 1,400 retail stores across the U.S., Canada, the UK, and Ireland, selling footwear and accessories under various brands. The company is focused on enhancing its diversity, equity, and inclusion efforts, as well as its environmental, social, and governance initiatives.

Genesco Inc. (NYSE: GCO) reported a 3% increase in comparable sales for the quarter-to-date period ended December 24, 2022, with e-commerce sales up 22%. However, same store sales fell 2%, and the company expects fiscal 2023 adjusted EPS at the low end of the range of $5.50 to $5.90 due to higher shipping and warehouse expenses. During this quarter, the Schuh and Johnston & Murphy divisions excelled, while the Journeys segment lagged because of promotional pressures and weak traffic. Genesco will present at the 2023 ICR Conference on January 10, 2023.

Genesco Inc. (NYSE: GCO) announced that its management will present at the 2023 ICR Conference on January 10, 2023, at 10:00 a.m. (Eastern time). Interested parties can access the webcast via the company's investor relations page. Genesco, headquartered in Nashville, operates over 1,400 retail stores selling footwear and accessories in the U.S., Canada, U.K., and Republic of Ireland under various brand names including Journeys and Johnston & Murphy. The company is committed to diversity, equity, and inclusion, along with environmental, social, and governance principles.

Genesco Inc. held its annual Cold Feet, Warm Shoes event on December 9, 2022, at Park Avenue Elementary in Nashville, fitting nearly 350 students with new shoes, socks, and hats. Over 225 employee volunteers participated, creating a mock shoe store experience. This initiative, which has provided over 100,000 shoes since its inception in 1989, underscores Genesco's commitment to community service. The event also featured Tennessee Titans cheerleaders and the team's mascot. An additional 100 pairs of shoes were donated to the school's resource closet.

Genesco reported third quarter fiscal 2023 net sales of $604 million, a 1% increase from the previous year and 12% from pre-pandemic levels. GAAP EPS was $1.66, down from $2.26 last year. E-commerce sales rose significantly, up 75% above pre-pandemic levels. The company expects adjusted EPS of $5.50 to $5.90 for FY2023, reflecting a cautious outlook due to economic pressures. Notably, gross margin improved despite cost increases. Share repurchases totaled $20.8 million in Q3, with $34.1 million remaining on the buyback authorization.

Genesco Inc. (NYSE: GCO) announced the appointment of Matt Bilunas, CFO of Best Buy, and Carolyn Bojanowski, EVP at Sephora, to its Board of Directors, effective January 29, 2023. This move follows the retirement of board members Matthew Diamond and Kevin McDermott, who will not seek reelection at the 2023 Annual Meeting. The board size will temporarily increase from nine to eleven directors to facilitate a smooth transition. The company aims to enhance board diversity and expertise, having added seven new directors since 2019.

Genesco Inc. (NYSE: GCO) announced it will report its third quarter fiscal 2023 results on December 2, 2022, before the market opens. The earnings conference call is scheduled for 7:30 a.m. (central) on the same day. Investors can access the live audio webcast through the company's investor relations website. A summary of the financial results will also be available on the website that day. Genesco operates over 1,410 retail stores across the U.S., Canada, the UK, and Ireland, selling footwear and accessories under various brands.

In the second quarter of Fiscal 2023, Genesco Inc. (GCO) reported net sales of $535 million, down 4% from last year but up 10% compared to pre-pandemic levels. GAAP EPS from continuing operations was $0.59, down from $0.74 last year. E-commerce sales accounted for 18% of retail sales. The company has revised its full-year guidance, expecting adjusted EPS between $6.25 and $7.00, reflecting more cautious outlook amidst inflationary pressures. Strong performance from Schuh and Johnston & Murphy partially offset declines in the Journeys segment.

Genesco Inc. (NYSE: GCO) announced it will report its second quarter fiscal 2023 results on September 1, 2022, before the market opens. The results will be followed by a conference call at 7:30 a.m. (central). Investors can access a live audio webcast of the call and an archive for the following year on the company's investor relations website. Genesco operates over 1,410 retail stores across the U.S., Canada, the U.K., and Ireland, selling various footwear and accessories both in-store and online.