Genesco(GCO) - 2025 Q3 - Quarterly Results

Financial Performance - Total net sales for Q3 Fiscal 2025 increased 3% to $596 million, with comparable sales rising 6$0.80 and $1.00, up from previous guidance of$0.60 to $1.00[12] - The company reported a net loss of$18,932 thousand for the quarter, translating to a loss of $1.76 per share, compared to net earnings of$6,539 thousand and earnings of $0.60 per share in the previous quarter[19] - For the nine months ended Nov. 2, 2024, net sales were$1,579,113 thousand, slightly down from $1,585,674 thousand in the same period last year[22] - The operating loss for the nine months was$32,192 thousand, representing -2.0% of net sales, an improvement from -3.2% in the previous year[22] - Loss from continuing operations for the nine months was $53,065 thousand, or -3.4$362,517 thousand, up from 60.3% in the previous quarter[24] - The Schuh Group maintained a consistent 20.4% of net sales in both the current and previous quarter, with sales of $121,826 thousand[24] - Total comparable sales increased by 6$1.76), while Non-GAAP EPS was $0.61, reflecting a significant impact from a U.S. valuation allowance[2][8] - Gross margin decreased by 30 basis points to 47.8$285,256 thousand, accounting for 47.8% of net sales, compared to 48.1% in the previous quarter[19] - The adjusted operating income for the total company was $10,210 thousand for the quarter ending November 2, 2024, compared to$10,852 thousand in the same quarter last year[41] - The adjusted gross margin for the period was $748,926,000, which is 47.4$33.6 million, up from $21.7 million a year earlier, while total debt decreased to$100.1 million[9] - Total assets decreased to $1,435,521 thousand from$1,492,931 thousand, a decline of approximately 3.8%[28] - Total current liabilities increased to $422,082 thousand from$397,164 thousand, an increase of about 6.3%[28] - The company’s long-term debt decreased to $100,114 thousand from$128,163 thousand, a reduction of approximately 21.9%[28] Store Operations - The company closed 12 Journeys stores in Q3, totaling 41 closures for Fiscal 2025, with plans for up to 10 more closures[12] - The company had a total of 1,341 retail stores as of November 2, 2024, down from 1,410 stores a year earlier[29] Future Projections and Guidance - Forecasted earnings from continuing operations for fiscal year ending February 1, 2025, are projected between $8.8 million and$11.0 million, translating to an EPS of $0.53 to$1.00[47] - The company anticipates a tax rate of approximately 27% for fiscal 2025[47] - The company disclaims any obligation to update future expectations and estimates, which may vary materially from actual results[48] - Charges related to the distribution model transition are estimated at $1.3 million, impacting EPS by$0.12[47] - Total asset impairments and other adjustments are expected to be around $1.3 million, affecting EPS by$0.12[47]