Genesco's Q1 Revenues Reach $487M, Price Target Raised to $40
GCO•Genesco posted Q1 revenue of $487 million, up 3%, with 2% comparable sales growth, a $2.18-per-share loss and a 47% adjusted gross margin. The company raised its full-year earnings outlook as an analyst lifted the price target from $32 to $40, citing improved profitability.
1. First-Quarter Results
Genesco reported first-quarter revenue of $487 million, marking a 3% increase from the prior year. Comparable sales rose 2%, the quarterly loss narrowed to $2.18 per share and adjusted gross margin improved by 30 basis points to 47%.
2. Analyst Price Target Increase
An analyst raised the price target on Genesco shares from $32 to $40, reflecting heightened confidence in the company’s margin expansion and earnings recovery. This adjustment underscores expectations for continued operational improvement.
3. Updated Full-Year Outlook
Genesco raised its full-year earnings outlook, citing planned cost-cutting measures and potential tariff refunds. Management expects these initiatives to drive further profitability improvements through the remainder of the fiscal year.
