The company noted that its fall in sales was driven by a decline in store sales, decreased wholesale sales and the impact of net store closings. This was offset by a 3% increase in comparable sales for e-commerce and a favourable foreign exchange impact.

In the first quarter, there was a decline in comparable sales (store and e-commerce) for Journeys Group of 5% year-on-year, while Schuh Group was down by 7% and Johnston & Murphy Group fell by 3%.

Genesco had an operating loss of US$32.13 million for the period, down by 40% year-on-year, with a net loss of US$24.35 million, down 29%.

Looking forward to the full 2025 fiscal year, the company expects sales to decline by 2-3% year-on-year.

President and CEO Mimi E. Vaughn said: “Against continued headwinds in the operating environment, we executed to our strategic plan to deliver top and bottom-line results that were ahead of our expectations, led by our Journeys business.”