Genesco

Genesco presented a growth plan centered on footwear, store rollouts and margin improvement at the Goldman Sachs retail conference. Journeys delivered eight consecutive quarters of positive same-store sales and is driving expansion with the 4.0 store format, which achieves about a 25% performance uplift; the digital business has also doubled. The company is targeting a 4% operating margin, sees risks for the second half of 2026 due to high gasoline costs but expects improvement in 2027; it also plans $40–50 million of structural cost savings by 2029 and is prioritizing further store openings, technology investments and buybacks. » Mere på de.investing.com

Genesco reported Q2 revenue down 3% to $530 million while cutting its adjusted operating loss to $8 million and raising full-year earnings guidance to the top of the range. Journeys delivered its eighth consecutive positive comp quarter and its 4.0 store format is boosting sales significantly, while Johnston & Murphy posted its third straight positive comp. Drag came from Schuh in the UK, where comps fell 9% after management reduced discounting; companywide inventory rose and sales are now expected to decline about 2% for the year with Q3 comps seen down 4–4.5%. » Mere på finance.yahoo.com

Genesco delivered Q2 results above expectations despite lower sales, citing gross margin recapture and disciplined expense management. Journeys posted its eighth consecutive quarter of positive comps and the company plans to accelerate Journeys 4.0 to about 180 stores by year-end, while Schuh faces ongoing sales pressure from reduced discounting and a promotional UK market. Management raised full-year EPS guidance toward the high end of $2.00–$2.40, expects up to $20 million in fiscal 2027 structural savings as part of a $40–$50 million multi-year program, and repurchased roughly 3% of shares year-to-date; inventory rose 8% to support Journeys growth. » Mere på finance.yahoo.com

At the 2026 annual meeting, preliminary results show that all nine nominated candidates — Gregory Sandfort, Mimi Vaughn, Joanna Barsh, Matt Bilunas, Carolyn Bojanowski, John Lambros, Thurgood Marshall, Jr., Angel Martinez and Mary Meixelsperger — were reelected to Genesco’s board of directors. The preliminary vote results are subject to confirmation by an independent inspector of elections; final results will be filed in a Form 8-K with the SEC. Genesco is a footwear retailer with more than 1,200 stores and operates brands such as Journeys, Little Burgundy, Schuh and Johnston & Murphy. » Mere på de.investing.com

Genesco secured recommendations from ISS, Glass Lewis and Egan-Jones for shareholders to support its slate of nine directors ahead of the July 21 annual meeting, strengthening its position against activist nominees led by Bradley L. Radoff. The advisory firms cited improving operational performance, recovering cash flow, modestly better profitability and progress on the Footwear First strategy and Journeys repositioning as reasons to retain the current board. Genesco reported a Q1 net loss but rising sales and recently appointed Jonathan Collins as CFO, while the company says the board's oversight is driving clear momentum. » Mere på finance.yahoo.com