GCO

EX-99.1

2 gco-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

GENESCO INC. REPORTS FISCAL 2027 SECOND QUARTER RESULTS

--Operating Income and EPS Improvement Exceed Expectations and Last Year--

-- Journeys Comparable Sales +2%, Johnston & Murphy Comparable Sales +4%--

--Eighth Consecutive Quarter of Positive Total Comparable Sales Growth for Journeys--

--Raises EPS Guidance --

NASHVILLE, Tenn., Sept. 3, 2026 --- Genesco Inc. (NYSE: GCO) today reported second quarter results for the three months ended August 1, 2026.

Second Quarter Fiscal 2027 Financial Summary

GAAP results include tariff refunds as well as other one-time adjustments; adjusted (Non-GAAP) results exclude these items to better reflect underlying operating performance

• Net sales of $530 million decreased 3% compared to Q2FY26

• Comparable sales decreased 1% compared to last year, with stores up 1% while e-commerce decreased 6%

• Gross margin improved 560 basis points compared to last year, reflecting tariff refunds; Adjusted gross margin improved 140 basis points compared to last year1

• Operating margin improved 330 basis points compared to last year; Adjusted operating margin improved 100 basis points compared to last year1

• GAAP EPS was $0.32 and Non-GAAP EPS was ($0.83)1 versus GAAP EPS of ($1.79) and Non-GAAP EPS of ($1.14) last year2

• Raises adjusted EPS guidance to high end of $2.00 to $2.40 range versus midpoint last quarter

Mimi E. Vaughn, Genesco’s Board Chair, President and Chief Executive Officer, said, “We delivered second quarter bottom line results that were significantly better than last year and well ahead of our expectations. The quarter provides further evidence that our Footwear First strategy is working and our momentum is building. Journeys and Johnston & Murphy both delivered positive comparable sales in the quarter, and earnings improvement reflected the operating leverage we set out to build, with more full-price selling aiding gross margin recapture and disciplined expense management driving the stronger performance. As we anticipated, the decline in sales was driven by strategic actions: store closures, our license transition, and pullback on discounting at Schuh. As we move past these shorter-term headwinds, we expect sales trends to improve, and we remain confident that the initiatives underway across our company position us for profitable growth.”

1Non-GAAP earnings per share (“EPS”), adjusted operating loss and adjusted gross margin are non-GAAP measures. Non-GAAP EPS results exclude tariff refund-related benefits and certain one-time costs, net of tax, including proxy contest and other legal expenses, information technology transformation costs, severance and other restructuring costs in the second quarter of Fiscal 2027 and severance, net of tax, in the second quarter of Fiscal 2026 (“the Excluded Items”). See Schedule B for reconciliations to GAAP measures. The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and gross margin adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.

2 The GAAP effective tax rate for the second quarter was (2.5)% in Fiscal 2027 compared to (15.0)% in the second quarter last year. The adjusted tax rate, reflecting Excluded Items described in footnote 1, was 5.7% in Fiscal 2027 compared to 26.5% in the second quarter last year.

Vaughn continued, “The third quarter is off to a good start with back-to-school and Journeys accelerating to a mid-single-digit comp in August on top of very strong growth the last two years.”

Jonathan M. Collins, Genesco’s Senior Vice President, Finance and Chief Financial Officer, added, “As a result of our performance, we are raising our full-year adjusted EPS outlook to the high end of the $2.00 to $2.40 range, up from our previous midpoint of the same range. With strong execution across our businesses, continued traction from our strategic initiatives and a focused approach to cost management, we are working to unlock meaningful earnings opportunity and create further shareholder value.”

Second Quarter Review

Net sales for the second quarter of Fiscal 2027 decreased 3% to $530 million compared to $546 million in the second quarter of Fiscal 2026. The decrease in net sales reflects the impact of net store closings, decreased licensed sales, a 6% decrease in e-commerce comparable sales from reduced Schuh discounting and an unfavorable foreign exchange impact, partially offset by a 1% increase in same store sales and higher sales from enlarged stores.

Comparable Sales

Comparable Same Store and E-commerce Sales:

2QFY27

2QFY26

Journeys Group

2%

9%

Schuh Group

(9)%

(4)%

Johnston & Murphy Group

4%

1%

Total Genesco Comparable Sales

(1)%

4%

Same Store Sales

1%

5%

Comparable E-commerce Sales

(6)%

1%

The overall sales dec

EX-99.1

2 gco-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

GENESCO INC. REPORTS FISCAL 2027 FIRST QUARTER RESULTS

--Sales and Bottom Line Improvement Exceed Expectations--

-- Journeys Comparable Sales +5%, Johnston & Murphy Comparable Sales +7%--

--Seventh Consecutive Quarter of Positive Total Comparable Sales Growth--

--Announces New $40 to $50 million Cost Savings Program--

--Raises Full Year EPS Outlook Range to $2.00 to $2.40--

NASHVILLE, Tenn., May 29, 2026 --- Genesco Inc. (NYSE: GCO) today reported first quarter results for the three months ended May 2, 2026.

First Quarter Fiscal 2027 Financial Summary

• Net sales of $487 million increased 3% compared to Q1FY26

• Comparable sales increased 2%, with stores up 3% while e-commerce was flat

• Gross margin improved 30 basis points compared to last year

• Selling and administrative expenses leveraged 30 basis points compared to last year; Adjusted selling and administrative expenses leveraged 60 basis points compared to last year

• GAAP EPS was ($1.42) and Non-GAAP EPS was ($2.18)1 versus GAAP EPS of ($2.02) and Non-GAAP EPS of ($2.05) last year2

Mimi E. Vaughn, Genesco’s Board Chair, President, Chief Executive Officer and Interim Chief Financial Officer, said, “After a strong finish to Fiscal 2026, we are pleased to report a solid start to Fiscal 2027, delivering our seventh consecutive quarter of positive comparable sales and first quarter results that exceeded expectations across the board. The execution of our strategic initiatives continues to translate into tangible results. Journeys’ comparable sales grew mid-single-digits on top of a high-single-digit gain last year, as our work around product elevation and customer experience continues to drive market share gains. At the same time, Johnston & Murphy’s comparable sales accelerated sharply, increasing high-single-digits, while Schuh’s comparable sales performance reflects our decision to pull back on promotions and prioritize a more full-price selling model.”

Vaughn continued, “With the better than expected start, we are raising our full-year adjusted EPS outlook to $2.00 to $2.40. We are creating meaningful value through our strategic growth plan and operational execution. Across our portfolio, we’re seeing encouraging progress and momentum as our top-line initiatives gain traction, which along with disciplined expense management and a new cost savings program are establishing a more profitable, higher-quality business for the near and longer-term.”

1Non-GAAP earnings per share (“EPS”) is a non-GAAP measure. Non-GAAP EPS excludes (i) a gross margin gain for a reversal of an inventory write-down related to license exits in Genesco Brands Group, net of tax effect, in the first quarter of Fiscal 2027, and (ii) a gain related to payment card interchange fee litigation, partially offset by charges for store restructuring, costs associated with information technology transformation, severance and professional fees related to shareholder activities, net of tax effect, in the first quarter of Fiscal 2027 and a charge for severance, net of tax effect, in the first quarter of Fiscal 2026 (“the Excluded Items”). A reconciliation of loss and loss per share from continuing operations in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) with the adjusted loss and loss per share numbers is set forth on Schedule B to this press release. The Company believes that disclosure of loss and loss per share from continuing operations adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.

2 The effective tax rate for the first quarter was 6.8% in Fiscal 2027 compared to 28.5% in the first quarter last year. The adjusted tax rate, reflecting Excluded Items, was 6.9% in Fiscal 2027 compared to 26.7% in the first quarter last year.

First Quarter Review

Net sales for the first quarter of Fiscal 2027 increased 3% to $487 million compared to $474 million in the first quarter of Fiscal 2026. The net sales increase reflects a 2% increase in comparable sales, including a 3% increase in same store sales, other non-comp gains and a favorable foreign exchange impact, partially offset by the impact of net store closings.

Comparable Sales

Comparable Same Store and E-commerce Sales:

1QFY27

1QFY26

Journeys Group

5%

8%

Schuh Group

(9)%

1%

Johnston & Murphy Group

7%

(2)%

Total Genesco Comparable Sales

2%

5%

Same Store Sales

3%

5%

Comparable E-commerce Sales

0%

7%

The overall sales increase of 3% for the first quarter of Fiscal 2027 compared to the first quarter of Fiscal 2026 was driven by an increase of 5% at Journeys, an increase of 6% at Johnston & Murphy and a 4% increase at Genesco Brands, partially offset by a decrease of 5% at Schuh. On a constant currency basis, Schuh sales were down 9% for the first quarter this year.

Gross m

8-K

false000001849800000184982026-03-062026-03-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): March 6, 2026

GENESCO INC.

(Exact name of registrant as specified in its charter)

Tennessee

1-3083

62-0211340

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

535 Marriott Drive

Nashville

Tennessee

37214

(Address of Principal Executive Offices)

(Zip Code)

(615) 367-7000 Registrant's telephone number, including area code

Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of exchange on which registered

Common Stock, $1.00 par value

GCO

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On March 6, 2026, Genesco Inc. issued a press release announcing results of operations for the fourth fiscal quarter ended January 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. On March 6, 2026, the Company also posted on its website, www.genesco.com, a slide presentation with summary results. A copy of the slide presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K. In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), the press release furnished herewith contains non-GAAP financial measures, including adjusted gross margin, operating income (loss), pretax earnings (loss), earnings (loss) from continuing operations and earnings (loss) per share from continuing operations, as discussed in the text of the release and as detailed on the reconciliation schedule attached to the press release. For consistency and ease of comparison with the adjusted results for the prior period announced last year, the Company believes that disclosure of the non-GAAP measures will be useful to investors.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits The following exhibits are furnished herewith:

Exhibit Number

Description

99.1

Press Release issued by Genesco Inc. on March 6, 2026

99.2

Genesco Inc. Fiscal Year ended January 31, 2026 Summary Results

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GENESCO INC.

Date: March 6, 2026

By:

/s/ Cassandra E. Harris

Name:

Cassandra E. Harris

Title:

Senior Vice President - Finance and

Chief Financial Officer