Genesco Inc. (NYSE:GCO) stock rose Friday after the footwear and apparel retailer reported first-quarter sales that topped Wall Street expectations and raised its full-year earnings outlook, signaling improving momentum across several of its key brands.
Investors also responded positively to the company’s planned cost-cutting initiatives and the prospect of tariff refunds that could further support profitability in the coming years.
First-Quarter Results
Genesco reported a first-quarter adjusted loss of $2.18 per share, narrower than analysts’ expectations for a loss of $2.56 per share.
Revenue increased 3% year over year to $487.0 million, exceeding the consensus estimate of $475.0 million.
