NYSE$GCO
Genesco Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Profitability exceeded expectations and Fiscal 2023 outlook was reaffirmed.
Genesco Inc. reported GAAP earnings from continuing operations per diluted share of $0.37 for the three months ended April 30, 2022. Net sales decreased 3% to $521 million. The company reaffirmed its Fiscal 2023 full year EPS guidance.
- Net sales decreased by 3% year-over-year to $521 million, but increased 5% over Q1FY20.
- Gross margin increased 50 basis points compared to the previous year.
- GAAP operating income decreased 47% from last year.
- Non-GAAP EPS from continuing operations was $0.441, compared to $0.79 last year.
Headline financials
Revenue & EPS history
Genesco · Revenue · Quarterly
$521M
Revenue by segment
Genesco · $474M total across 3 segments · Q1 2023
- Journeys Group$314M-16.5%66.4%
- Schuh Group$88.2M+28.3%18.6%
- Johnston & Murphy Group$71M+45.6%15.0%
Forward guidance
The Company reaffirms its Fiscal 2023 full year EPS guidance. Adjusted diluted earnings per share from continuing operations in the range of $7.00 to $7.75, with an expectation that earnings per share for the year will be near the mid-point of the range.
Tailwinds
- Sales to be up 1% to 3%, compared to FY22, incorporating the impact of the lower exchange rates with a stronger U.S. dollar.
- Adjusted diluted earnings per share from continuing operations in the range of $7.00 to $7.75
- Earnings per share for the year will be near the mid-point of the range.
- Sequential retail sales improvement in April and May to-date compared with last year
- Strong full priced selling
Headwinds
- Difficult comparison due to government stimulus-fueled consumer spending, especially for our Journeys business
- Journeys experienced a lack of inventory in the first quarter this year due to the impact of supply chain disruptions
- Sales would have been higher if not for inventory shortfalls
- Lower exchange rates with a stronger U.S. dollar
- Increased freight and logistics costs
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-2.8%
Avg return
Earnings day
-6.1%
Avg return
5 days after
-5.5%
Avg return
30 days after
40%
26 / 65 earnings
Positive
+38.1%
Q3 2020
Best reaction
-35.5%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +1.6% | -1.2% | +8.8% | |
| Q3 2026 | -30.6% | -33.6% | -29.8% | |
| Q2 2026 | -6.7% | -2.7% | -8.3% | |
| Q1 2026 | +0.2% | +1.6% | -0.4% | |
| Q4 2025 | -16.3% | -34.5% | -44.4% | |
| Q3 2025 | +11.4% | +17.6% | +14.1% | |
| Q2 2025 | -12.6% | -16.9% | -4.4% | |
| Q1 2025 | +7.6% | +2.7% | -5.3% | |
| Q4 2024 | -13.5% | -10.3% | -10.3% | |
| Q3 2024 | -12.8% | -21.1% | -5.8% | |
| Q2 2024 | +15.1% | +7.0% | +5.7% | |
| Q1 2024 | -35.5% | -38.3% | -19.6% | |
| Q4 2023 | -12.4% | -23.6% | -24.3% | |
| Q3 2023 | -9.7% | -5.1% | -4.9% | |
| Q2 2023 | -24.0% | -21.7% | -30.5% | |
| Q1 2023 | +7.6% | +2.5% | +3.1% | |
| Q4 2022 | +7.8% | +6.6% | +2.5% | |
| Q3 2022 | -0.2% | +1.5% | +0.6% | |
| Q2 2022 | -9.2% | -11.5% | -4.8% | |
| Q1 2022 | -5.7% | -0.4% | +9.1% | |
| Q4 2021 | -1.5% | -8.6% | -4.3% | |
| Q3 2021 | +1.7% | +7.1% | -2.1% | |
| Q2 2021 | -1.7% | -4.8% | +3.9% | |
| Q1 2021 | -14.9% | -21.2% | -37.4% | |
| Q4 2020 | -8.3% | -38.8% | -19.7% | |
| Q3 2020 | +38.1% | +31.9% | +28.6% | |
| Q2 2020 | +15.6% | +22.1% | +6.1% | |
| Q1 2020 | +15.0% | +7.6% | +5.0% | |
| Q4 2019 | -9.9% | -9.3% | -6.5% | |
| Q3 2019 | +2.4% | -0.4% | +10.7% | |
| Q2 2019 | +1.8% | +0.3% | -5.3% | |
| Q1 2019 | -11.3% | -8.8% | -10.7% | |
| Q4 2018 | -1.6% | -2.3% | +5.1% | |
| Q3 2018 | -11.3% | -7.7% | +4.5% | |
| Q2 2018 | -9.0% | -7.5% | +4.3% | |
| Q1 2018 | -17.5% | -16.6% | -26.2% | |
| Q4 2017 | +3.9% | +4.1% | -9.0% | |
| Q3 2017 | +10.4% | +12.1% | -1.8% | |
| Q2 2017 | -32.5% | -32.9% | -25.0% | |
| Q1 2017 | +11.1% | +9.7% | +10.4% | |
| Q4 2016 | -2.6% | — | — | |
| Q3 2016 | +10.1% | — | — | |
| Q2 2016 | +5.3% | — | — | |
| Q1 2016 | -3.7% | — | — | |
| Q4 2015 | -7.7% | — | — | |
| Q3 2015 | -11.6% | — | — | |
| Q2 2015 | -10.6% | — | — | |
| Q1 2015 | +4.1% | — | — | |
| Q4 2014 | +4.2% | — | — | |
| Q3 2014 | -2.7% | — | — | |
| Q2 2014 | -11.3% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | -1.0% | — | — | |
| Q3 2013 | -10.4% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2012 | -2.2% | — | — | |
| Q1 2013 | +1.2% | — | — | |
| Q4 2012 | +6.1% | — | — | |
| Q4 2010 | +6.1% | — | — | |
| Q3 2011 | +2.4% | — | — | |
| Q3 2012 | +2.4% | — | — | |
| Q2 2012 | -1.3% | — | — | |
| Q2 2011 | -1.3% | — | — | |
| Q4 2011 | -1.3% | — | — | |
| Q1 2011 | +7.1% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro