Fri, Sep. 9, 9:27 AM
- A survey from William Blair indicates that teenagers and young adults have increased their visits to malls this year to reverse a multi-year trend.
- In what may come as a surprise, teens ranked malls above movie theaters, restaurants, and sports clubs/extracurriculars as their most popular place to meet.
- Despite the depressed levels of overall sales this year for mall retailers, the read on teens could be a possible indicator that the mall model will evolve and survive, instead of disappear.
- "While overall mall traffic remains challenging, our survey this year noted a material increase in the number of respondents who indicated they are visiting malls more often than last year, perhaps suggesting that malls’ efforts to increase relevancy (through more experiential brands and the addition of attractive entertainment and dining options) are beginning to bear fruit," says Bernstein analyst Sharon Zackfia.
- Mall retailers: AEO, ANF, ASNA, BKE, BOOT, CATO, CBK, CHS, CTRN, DSW, EXPR, FRAN, GCO, GES, GPS, LB, NWY, PLCE, SCVL, SMRT, SSI, TLYS, URBN, LULU.
Thu, Sep. 1, 12:47 PM
Thu, Sep. 1, 7:21 AM
- Genesco (NYSE:GCO) reports comparable-store sales fell 2% in Q2.
- Segment comp growth : Journeys Group -4%, Schuh Group -1%, Lids Sports Group flat, Johnston & Murphy Group +3%.
- Segment sales: Journeys Group: $252.13M (+2%); Schuh Group: $96.96M (-6.1%); Lids Sports Group: $188.91M (-15%); Johnston & Murphy Group: $65.15M (+7.1%); Licensed Brands: $22.1M (+0.7%).
- E-commerce sales decreased 1% Y/Y.
- Gross margin rate rose 150 bps to 50.3%.
- SG&A expense rate grew 170 bps to 48.4%.
- Adjusted operating margin rate slipped 30 bps to 1.9%.
- Total retail units +5 Y/Y to 2,805.
- FY2016 Guidance: Comparable sales: decrease in the low single digit range; Adjusted EPS: $3.80 to $4.
- GCO -10.52% premarket.
Thu, Sep. 1, 6:51 AM
Wed, Aug. 31, 5:30 PM
Thu, May 26, 10:25 AM
- Genesco (NYSE:GCO) pops after topping Q1 profit estimates and reaffirming FY17 guidance.
- Genesco expects EPS of $4.80 to $4.90 and comparable sales growth of 1% to 2% for the full year.
- During Q1, a "meaningful" improvement in gross margin was realized, although the apparel seller didn't break out details.
- Shares of Genesco are up 10.2% to $64.19 to help erase part of the spring slide amid broad retail anxiety.
- Previously: Genesco beats by $0.23, misses on revenue (May 26)
Thu, May 26, 6:51 AM
Wed, May 25, 5:30 PM
Thu, May 5, 10:59 AM
- Apparel store stocks trade lower after one of its stalwarts takes it on the chin. L Brands (NYSE:LB) is down 10.5% with even the resilient Victoria's Secret business showing signs of weakness.
- Notable decliners include Urban Outfitters (URBN -3.4%), Guess (GES -3.7%), Francesca's (FRAN -1.8%), Gap (GPS -2.6%), Genesco (GCO -2.8%), Ascena Retail Group (ASNA -3%), Express (EXPR -2%), and Chico's FAS (CHS -2.4%).
- Buckle (BKE -5.8%) and Abercombie & Fitch (ANF -4.5%) are also down, with the former reporting weak April sale and the latter losing an exec on top of the L Brands development.
Thu, Mar. 31, 10:21 AM
- Investors are giving companies that make shoes a hard look today. Macroeconomic factors including as strong U.S. dollar have been tugging on earnings in the sector.
- Shoe stocks ahead of broad market averages include Deckers Outdoor (DECK +3.6%), Crocs (CROX +5.1%), Steven Madden (SHOO +2.1%), Wolverine Worldwide (WWW +1.4%), Genesco (GCO +1.3%), and Boot Barn (BOOT +4.3%).
- Now read Are Crocs About To Make An Unlikely Comeback?
Mon, Mar. 14, 8:58 AM
- Jefferies thinks Genesco (NYSE:GCO) looks more attractive after the company cleaned up its inventory position.
- The investment firm sees FY17 as the start of "substantial" gross margin recovery for Genesco's Lids division (sports gear) and sees upside for the Journeys business (teen shoes).
- Jefferies ups its price target to $65.
Fri, Mar. 11, 8:08 AM
- Genesco (NYSE:GCO) reports comparable-store sales rose 4% in Q4.
- Segment comp growth : Journeys Group +5%, Schuh Group -2%, Lids Sports Group +3%, Johnston & Murphy Group +6%.
- Segment sales: Journeys Group: $403.83M (+7.2%); Schuh Group: $122.26M (-1.4%); Lids Sports Group: $299.99m (+2%); Johnston & Murphy Group: $81.08M (+7.7%); Licensed Brands: $24.71M (+10.4%).
- E-commerce sales increased 21% Y/Y.
- Gross margin rate dropped 210 bps to 45.4%.
- SG&A expense rate fell 30 bps to 37.4%.
- Adjusted operating margin rate declined 190 bps to 8%.
- Total retail units +28 Y/Y to 2,852.
- FY2016 Guidance: Comparable sales: +1% to +2%; Adjusted EPS: $4.80 to $4.90 (+12% to +14%).
Fri, Mar. 11, 7:02 AM
- Genesco (NYSE:GCO): Q4 EPS of $2.11 misses by $0.02.
- Revenue of $932.21M (+4.4% Y/Y) misses by $7.21M.
Thu, Mar. 10, 5:30 PM
Fri, Feb. 19, 11:53 AM
- The apparel sector is on shaky ground after weak earnings reports from VF Corp. and Nordstrom set the tone.
- Weather and F/X dinged VF Corp. more than expected, while Nordstrom was whacked by promotions and a higher mix of e-commerce.
- Notable decliners include Carter's (CRI -3.9%), PVh Corp. (PVH -2.7%), Kate Spade (KATE -2.8%), Gildan Activewear (GIL -2.1%), Hanesbrands (HBI -3.5%), Gap (GPS -1.1%), Lululemon (LULU -1.1%), Urban Outfitters (URBN -2%), Genesco (GCO -2%), and Sequential Brands Group (SQBG -1.1%).
Wed, Jan. 20, 1:08 PM
- Genesco (GCO +4.7%) spikes after the company announces a new stock repurchase allowance of $100M.
- The company is using funds from the sale of Lids Team Sports to buy back the shares.