Genesco on Friday reported a 3% uptick in sales to $487 million for the first quarter, with the U.S.-based footwear firm logging growth across its entire portfolio excluding British retailer, Schuh.
The Nashville-based company said the quarterly sales growth was lead by a 2% increase in comparable sales, including a 3% increase in same store sales, other non-comp gains and a favorable foreign exchange impact, partially offset by the impact of net store closings.
By brand, sales at Journeys rose 5%, outpaced by a 6% sales gain at Johnston & Murphy, and on par with a 4% increase at Genesco Brands. The group’s Schuh retailer sales, however, were down 5%.
The company also narrowed losses for the quarter to $14.8 million, compared to a net loss of $21.2 million, in the prior-year period.
“After a strong finish to Fiscal 2026, we are pleased to report a solid start to Fiscal 2027, delivering our seventh consecutive quarter of positive comparable sales and first quarter results that exceeded expectations across the board,” said Mimi Vaughn, Genesco’s board chair, president, chief executive officer and interim chief financial officer.
“The execution of our strategic initiatives continues to translate into tangible results. Journeys’ comparable sales grew mid-single-digits on top of a high-single-digit gain last year, as our work around product elevation and customer experience continues to drive market share gains. At the same time, Johnston & Murphy’s comparable sales accelerated sharply, increasing high-single-digits, while Schuh’s comparable sales performance reflects our decision to pull back on promotions and prioritize a more full-price selling model.”
Looking ahead, the company confirmed it expects total full-year sales to be down 1% to flat, reflecting the impact of store closures and license exits.
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