Genesco Inc. (NYSE: GCO) has reported a significant increase in comparable sales for the quarter-to-date period ended December 28, 2024. The overall comparable sales, including both stores and direct sales, experienced a 10% year-over-year increase. Same store sales increased by 6%, and the company's e-commerce businesses saw an impressive 20% increase on a comparable basis for the same period.
Breaking down the comparable sales changes for each retail business for the period, the Journeys Group saw a substantial 14% increase, while the Schuh Group experienced a 3% increase. However, the Johnston & Murphy Group faced a slight decline of -1%. These individual performances culminated in an overall 10% increase in total comparable sales.
Mimi E. Vaughn, Genesco's Board Chair, President, and Chief Executive Officer, expressed satisfaction with the overall comparable sales results for the quarter-to-date, citing double-digit total comp growth with both stores and digital performing well. Vaughn also reaffirmed the company's prior expectation for full-year earnings per share (EPS) to be in the range of $0.80 to $1.00, based on the performance and the increased efforts to close more stores in the fourth quarter.
Looking ahead to fiscal 2026, Vaughn expressed excitement about building on recent progress elevating the Journeys business and continuing work on driving growth and improved profitability across the company.
In addition, as previously announced, Genesco management will be presenting at the 2025 ICR Conference on January 13, 2025, at 8:30 a.m. (Eastern Time).
This impressive surge in comparable sales and the company's commitment to optimizing its operations and driving growth indicate a positive outlook for Genesco Inc. as it moves forward. Following these announcements, the company's shares moved -0.2%, and are now trading at a price of $41.32. For the full picture, make sure to review Genesco's 8-K report.
