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Feb 03, 2024
Genesco Q4 2024 Earnings Report
Genesco reported a 2% increase in net sales for Q4 2024, driven by e-commerce growth and strong performances from Schuh and Johnston & Murphy, but earnings were impacted by winter storms and higher expenses at Journeys.
Key Takeaways
Genesco Inc. reported a 2% increase in net sales to $739 million for the fourth quarter of fiscal 2024, compared to $725 million in the prior year. GAAP EPS was $1.84, while non-GAAP EPS was $2.59. The company faced challenges due to a shift in consumer shopping behavior and disruptive winter storms, which impacted earnings.
Net sales increased by 2% to $739 million, driven by a 14-week period compared to 13 weeks in Q4FY23.
Comparable sales decreased by 4%, with store sales down 7% and direct sales up 5%.
E-commerce sales represented 27% of retail sales, compared to 25% in the previous year.
GAAP EPS from continuing operations was $1.84, and non-GAAP EPS was $2.59.
Genesco
Genesco
Genesco Revenue by Segment
Revenue by Segment
Journeys Group Revenue
CapyFin.comSchuh Group Revenue
CapyFin.comJohnston & Murphy Group Revenue
CapyFin.com Forward Guidance
Genesco expects total sales to decrease 2% to 3% in fiscal year 2025 compared to fiscal year 2024, with adjusted diluted earnings per share from continuing operations in the range of $0.60 to $1.00.
Challenges Ahead
- Total sales are expected to decrease 2% to 3% compared to Fiscal 2024.
- Sales are expected to be down 1% to 2% excluding the 53rd week in Fiscal 2024
- Adjusted diluted earnings per share from continuing operations are expected to be in the range of $0.60 to $1.00
- Guidance assumes no further share repurchases
- Guidance assumes a tax rate of 26%
Revenue & Expenses
Visualization of income flow from segment revenue to net income