Mar. 6 at 12:38 PM
$GCO Genesco sees FY27 adjusted EPS
$1.90-
$2.30, consensus
$1.93
Expects FY27 total sales to be down 1% to flat compared to FY26 including a reduction in sales of approximately
$30M net due to the exit of licenses and approximately
$30M related to net store closures. FY27 consensus
$2.45B. Expects positive comparable sales of 1%-2%. Guidance assumes no further share repurchases and a tax rate of 30% for FY27 but due to the valuation allowance, the tax rate for the first three quarters of the year will be in the range of approximately 7%-8%. Vaughn concluded, "We have clear plans in place to drive continued improvement in Fiscal 2027.
Our top-line guidance reflects another year of overall positive comparable sales growth, offset by store closures and license transitions in our branded footwear group. The projected increase in our bottom line is being driven by another year of increased profitability at Journeys, improvement at Johnston & Murphy and higher gross margins, primarily at Schuh, as we reduce the business' dependency on promotions and focus on returning to a full price, full margin sales model."
