U.S.-headquartered footwear retailer Genesco has reported its financial results for the third quarter of fiscal 2025, when net sales grew 3% to US$596 million.
Credit: Johnston & Murphy
These results were driven by an increase of 4% for Journeys, an increase of 3% for Schuh and a 10% increase for Genesco Brands, offset by a decline of 4% for Johnston & Murphy.
The group closed 12 Journeys stores in the quarter, making a total of 41, and expects to close another ten in the remainer of the fiscal year.
For the full year, Genesco is forecasting a total sales result down 1% to flat from the previous year, or flat to up to 1% excluding the 53rd week in fiscal 2024.
CEO Mimi E Vaughn said: “We are in the very early innings of returning Journeys and the overall company to historical rates of sales and profitability. With the progress we’ve recently made, and our track record of successfully evolving our businesses in response to changing consumer preferences and purchasing behaviour, I feel confident we have the experience and strategies to drive profitable growth across the company and create greater value for our shareholders over the near-and long-term.”
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