Genesco Inc. (GCO) Q3 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.236 Mimi Vong, Board Chair, President, and Chief Executive Officer, and Sondra Harris, 00:00:05.236 -- 00:00:08.820 Senior Vice President, Finance, and Chief Financial Officer. 00:00:08.820 -- 00:00:11.443 Now I'd like to turn the call over to Mimi. 00:00:11.443 -- 00:00:16.689 Thanks, Jason. Good morning, everyone, and thank you for joining us on our third quarter 00:00:16.689 -- 00:00:21.734 earnings call. We delivered solid performance versus last year in 00:00:21.734 -- 00:00:27.180 this important back-to-school quarter led by Journeys, which achieved 6% comp 00:00:27.180 -- 00:00:32.094 growth and more than a 50% increase in operating income. 00:00:32.094 -- 00:00:37.780 This significant improvement in profitability was partially offset by the anticipated 00:00:37.780 -- 00:00:43.426 exit of licenses in Genesco Brands Group, the impact of tariffs, 00:00:43.426 -- 00:00:48.472 and more than expected gross margin pressure at SHU as the UK market faced 00:00:48.472 -- 00:00:51.280 heightened promotional activity. 00:00:51.280 -- 00:00:56.366 Against this backdrop, we delivered our fifth consecutive quarter of positive comp 00:00:56.366 -- 00:01:01.833 sales growth overall and third quarter results within our expectations, 00:01:01.833 -- 00:01:07.981 albeit at the lower end, reflecting both the strength and resilience of our portfolio 00:01:07.981 -- 00:01:11.345 in a dynamic consumer environment. 00:01:11.345 -- 00:01:16.211 Total comparable sales increased 3%, with store comps up a noteworthy 5%. 00:01:16.211 -- 00:01:22.109 Coupled with a modest decline in e-commerce comps, which faced tougher comparisons 00:01:22.109 -- 00:01:25.413 against last year's double-digit gains. 00:01:25.413 -- 00:01:30.060 These results reflect our inv...