GCO - Why Branded Footwear Retailer Genesco's Shares Are Shooting Higher Today | Benzinga
Genesco Inc (NYSE:GCO) shares are trading higher after the company reported better-than-expected first-quarter FY25 earnings.
The company reported a first-quarter sales decline of 5.3% year-on-year to $457.60 million, beating the analyst’s consensus estimate of $445.05 million.
The sales decrease was driven by a decline in store sales, decreased wholesale sales and the impact of net store closings. Total comparable sales declined 5%.
Comparable e-commerce sales increased 3%; comparable store sales decreased 7%. E-commerce sales represented 23% of retail sales compared to 21% last year.
Overall sales dropped ...