Genesco Narrows First-Quarter Loss, Beating Estimates

Genesco Inc. (NYSE: GCO) reported a reduced first-quarter loss on May 29, 2026, as the footwear and accessories retailer benefited from cost-cutting measures and improved gross margins. The company posted a net loss of $5.2 million, or $0.12 per share, compared with a loss of $21.8 million, or $0.55 per share, in the year-ago period. Adjusted losses of $0.10 per share beat the average analyst estimate for a loss of $0.15 per share, according to FactSet. Revenue fell 3% to $457 million, slightly above expectations of $452 million, as store traffic remained subdued. Genesco reaffirmed its fiscal 2027 outlook, anticipating adjusted earnings between $1.50 and $2.00 per share. The Nashville-based company operated more than 1,400 retail locations as of period-end, including Journeys and Johnston & Murphy stores. Shares rose 4% in premarket trading following the report.