Revenue growth decelerated to -3.0% year over year in 2027Q2 versus 4.0% a year earlier, and the 47.2% gross margin was fully absorbed by SG&A of $259.6M (roughly 49% of revenue), leaving operating margin at -1.7% with net losses recorded in six of ten reported quarters.
Genesco Inc. (GCO) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 | Jan'03 | Jan'02 | Jan'01 | Jan'00 | Jan'99 | Jan'98 | Jan'97 |
|---|
| Sales/Revenue | 2.43B | 2.44B | 2.33B | 2.32B | 2.38B | 2.42B | 1.79B | 2.2B | 2.19B | 2.13B | 2.02B | 3.02B | 2.86B | 2.62B | 2.6B | 2.29B | 1.79B | 1.57B | 1.55B | 1.5B | 1.46B | 1.28B | 1.11B | 837.38M | 828.31M | 746.16M | 680.17M | 553.03M | 549.75M | 536.11M | 461.3M |
| Revenue Growth % | 3% | 4.78% | 0.02% | -2.53% | -1.54% | 35.57% | -18.69% | 0.39% | 2.87% | 5.28% | -33.13% | 5.68% | 8.95% | 0.77% | 13.65% | 28.06% | 13.69% | 1.47% | 3.29% | 2.85% | 13.76% | 15.39% | 32.88% | 1.1% | 11.01% | 9.7% | 22.99% | 0.6% | 2.54% | 16.22% | 6.14% |
| Cost of Goods Sold | 1.3B | 1.31B | 1.23B | 1.23B | 1.25B | 1.24B | 982.06M | 1.13B | 1.14B | 1.12B | 1.04B | 1.58B | 1.46B | 1.33B | 1.31B | 1.14B | 891.69M | 778.48M | 771.58M | 750.9M | 729.64M | 631.47M | 561.6M | 448.6M | 438.23M | 397.21M | 344.45M | 296.77M | 296.2M | 304.3M | 266.5M |
| COGS % of Revenue | - | 53.74% | 52.83% | 52.73% | 52.36% | 51.23% | 54.97% | 51.61% | 52.16% | 52.46% | 51.71% | 52.24% | 51.03% | 50.51% | 50.15% | 49.9% | 49.82% | 49.45% | 49.73% | 49.99% | 49.96% | 49.18% | 50.47% | 53.57% | 52.91% | 53.23% | 50.64% | 53.66% | 53.88% | 56.76% | 57.77% |
| Gross Profit | 1.13B | 1.13B | 1.1B | 1.1B | 1.14B | 1.18B | 804.47M | 1.06B | 1.05B | 1.01B | 975.92M | 1.44B | 1.4B | 1.3B | 1.3B | 1.15B | 898.15M | 795.87M | 779.98M | 751.22M | 730.84M | 652.41M | 551.08M | 388.78M | 390.08M | 348.94M | 335.71M | 256.26M | 253.55M | 231.81M | 194.8M |
| Gross Margin % | 46.65% | 46.26% | 47.17% | 47.27% | 47.64% | 48.77% | 45.03% | 48.39% | 47.84% | 47.54% | 48.29% | 47.76% | 48.97% | 49.49% | 49.85% | 50.1% | 50.18% | 50.55% | 50.27% | 50.01% | 50.04% | 50.82% | 49.53% | 46.43% | 47.09% | 46.77% | 49.36% | 46.34% | 46.12% | 43.24% | 42.23% |
| Gross Profit Growth % | - | 2.74% | -0.18% | -3.29% | -3.81% | 46.82% | -24.33% | 1.53% | 3.53% | 3.63% | -32.39% | 3.07% | 7.8% | 0.03% | 13.08% | 27.86% | 12.85% | 2.04% | 3.83% | 2.79% | 12.02% | 18.39% | 41.75% | -0.33% | 11.79% | 3.94% | 31% | 1.07% | 9.38% | 19% | 8.04% |
| Operating Expenses | 1.1B | 1.1B | 1.08B | 1.08B | 1.04B | 1.03B | 911.72M | 979.8M | 965.24M | 937.01M | 868.13M | 1.29B | 1.23B | 1.14B | 1.13B | 986.87M | 810.92M | 735.45M | 520.36M | 706.05M | 609.79M | 539.58M | 463.02M | 334.55M | 323.8M | 285.52M | 275.53M | 209.29M | 217.5M | 195.7M | 167.2M |
| OpEx % of Revenue | - | 45.21% | 46.44% | 46.55% | 43.7% | 42.68% | 51.03% | 44.6% | 44.1% | 44.04% | 42.96% | 42.76% | 43.12% | 43.26% | 43.33% | 43.06% | 45.31% | 46.71% | 33.54% | 47% | 41.75% | 42.03% | 41.61% | 39.95% | 39.09% | 38.27% | 40.51% | 37.84% | 39.56% | 36.5% | 36.25% |
| Selling, General & Admin | 847.73M | 1.1B | 1.08B | 1.08B | 1.04B | 1.03B | 813.77M | 966.42M | 962.08M | 929.24M | 876.16M | 1.28B | 1.23B | 1.13B | 1.11B | 984.19M | 802.36M | 722.09M | 716.93M | 696.35M | 608.68M | 537.33M | 461.8M | 332.69M | 320.99M | 280.71M | 258.89M | 209.29M | 207.8M | 186.8M | 159.5M |
| SG&A % of Revenue | - | 45.21% | 46.44% | 46.55% | 43.7% | 42.68% | 45.55% | 43.99% | 43.96% | 43.68% | 43.36% | 42.5% | 43.04% | 43.21% | 42.68% | 42.94% | 44.83% | 45.87% | 46.21% | 46.36% | 41.68% | 41.85% | 41.5% | 39.73% | 38.75% | 37.62% | 38.06% | 37.84% | 37.8% | 34.84% | 34.58% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 97.94M | 13.37M | 3.16M | 7.77M | -8.03M | 7.89M | 2.28M | 1.34M | 17.04M | 2.68M | 8.57M | 13.36M | -196.57M | 9.7M | 1.1M | 2.25M | 1.22M | 1.85M | 2.81M | 4.8M | 16.63M | 0 | 9.7M | 8.9M | 7.7M |
| Operating Income | 32.83M | 25.38M | 17.16M | 16.78M | 94.1M | 147.51M | -107.25M | 83.32M | 81.82M | 74.37M | 107.79M | 151.25M | 167.27M | 163.44M | 169.86M | 161.49M | 87.23M | 60.42M | 259.63M | 45.16M | 121.05M | 112.83M | 88.06M | 54.23M | 66.28M | 63.43M | 60.19M | 46.97M | 36.05M | 36.11M | 27.6M |
| Operating Margin % | 1.35% | 1.04% | 0.74% | 0.72% | 3.95% | 6.09% | -6% | 3.79% | 3.74% | 3.5% | 5.33% | 5% | 5.85% | 6.23% | 6.52% | 7.05% | 4.87% | 3.84% | 16.73% | 3.01% | 8.29% | 8.79% | 7.91% | 6.48% | 8% | 8.5% | 8.85% | 8.49% | 6.56% | 6.73% | 5.98% |
| Operating Income Growth % | - | 47.91% | 2.26% | -82.17% | -36.21% | 237.54% | -228.72% | 1.83% | 10.01% | -31% | -28.73% | -9.57% | 2.34% | -3.78% | 5.19% | 85.13% | 44.36% | -76.73% | 474.89% | -62.69% | 7.28% | 28.12% | 62.39% | -18.18% | 4.49% | 5.38% | 28.14% | 30.3% | -0.16% | 30.82% | 50.82% |
| EBITDA | 85.72M | 78.71M | 69.62M | 66.22M | 136.91M | 190.48M | -60.75M | 132.89M | 158.76M | 152.7M | 183.56M | 230.26M | 241.59M | 230.57M | 233.56M | 215.22M | 134.97M | 107.88M | 306.38M | 90.28M | 161.35M | 147.45M | 119.33M | 78.84M | 88.07M | 79.67M | 73.39M | 57.48M | 45.75M | 45.01M | 35.3M |
| EBITDA Margin % | 3.52% | 3.23% | 2.99% | 2.85% | 5.74% | 7.86% | -3.4% | 6.05% | 7.25% | 7.18% | 9.08% | 7.62% | 8.45% | 8.78% | 8.97% | 9.39% | 7.54% | 6.85% | 19.75% | 6.01% | 11.05% | 11.48% | 10.72% | 9.41% | 10.63% | 10.68% | 10.79% | 10.39% | 8.32% | 8.4% | 7.65% |
| EBITDA Growth % | 24.3% | 13.05% | 5.14% | -51.63% | -28.12% | 413.55% | -145.71% | -16.29% | 3.97% | -16.81% | -20.28% | -4.69% | 4.78% | -1.28% | 8.52% | 59.46% | 25.1% | -64.79% | 239.39% | -44.05% | 9.43% | 23.56% | 51.36% | -10.48% | 10.54% | 8.56% | 27.67% | 25.65% | 1.65% | 27.5% | 37.35% |
| D&A (Non-Cash Add-back) | 52.89M | 53.33M | 52.46M | 49.44M | 42.82M | 42.97M | 46.5M | 49.57M | 76.94M | 78.33M | 75.77M | 79.01M | 74.33M | 67.14M | 63.7M | 53.74M | 47.74M | 47.46M | 46.76M | 45.11M | 40.31M | 34.62M | 31.27M | 24.61M | 21.79M | 16.24M | 13.2M | 10.51M | 9.7M | 8.9M | 7.7M |
| EBIT | 35.45M | 17.39M | 14.26M | -13.6M | 93.29M | 155.44M | -106.58M | 83.71M | 81.6M | 74.41M | 118.05M | 155.95M | 160.33M | 163.5M | 169.96M | 161.55M | 87.24M | 54.92M | 259.95M | 54.86M | 122.15M | 115.08M | 89.28M | 56.08M | 69.09M | 68.23M | 63.62M | 46.97M | 36.05M | 36.11M | 27.6M |
| Net Interest Income | -2.24M | -4.1M | -4.25M | -7.78M | -2.92M | -2.45M | -5.09M | -1.28M | -3.34M | -5.41M | -5.25M | -4.4M | -3.23M | -4.58M | -5.03M | -5.09M | -1.12M | -4.42M | -8.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 700K | 700K | 700K | 400K | 300K | 0 | 0 | 2.06M | 774K | 8K | 47K | 11K | 110K | 66K | 95K | 65K | 8K | 14K | 322K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.94M | 4.8M | 4.95M | 8.18M | 3.22M | 2.45M | 5.09M | 3.34M | 4.12M | 5.42M | 5.29M | 4.41M | 3.34M | 4.64M | 5.13M | 5.16M | 1.13M | 4.43M | 9.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 12.99M | -12.79M | -7.85M | -38.55M | -4.02M | 5.48M | -4.42M | -883K | -3.56M | -5.38M | 4.96M | 282K | -10.28M | -4.58M | -5.03M | -5.09M | -1.12M | -9.93M | -8.91M | -12.43M | -9.93M | -10.36M | -10.96M | -9.87M | -7.87M | -7.56M | -7.2M | -5.99M | -4.95M | 0 | -17.4M |
| Pretax Income | 45.82M | 12.59M | 9.31M | -21.77M | 90.07M | 152.99M | -111.67M | 82.44M | 78.26M | 68.99M | 112.76M | 151.53M | 156.99M | 158.86M | 164.83M | 156.39M | 86.11M | 50.49M | 250.71M | 32.73M | 111.12M | 102.47M | 77.1M | 44.36M | 58.41M | 55.86M | 52.99M | 40.98M | 31.1M | 36.11M | 10.2M |
| Pretax Margin % | 1.88% | 0.52% | 0.4% | -0.94% | 3.78% | 6.32% | -6.25% | 3.75% | 3.58% | 3.24% | 5.58% | 5.01% | 5.49% | 6.05% | 6.33% | 6.82% | 4.81% | 3.21% | 16.16% | 2.18% | 7.61% | 7.98% | 6.93% | 5.3% | 7.05% | 7.49% | 7.79% | 7.41% | 5.66% | 6.73% | 2.21% |
| Income Tax | 4.2M | -685K | 28.82M | 1.85M | 17.83M | 38.04M | -55.64M | 20.68M | 27.04M | 32.28M | 39.88M | 56.15M | 57.62M | 65.88M | 51.94M | 62.94M | 30.86M | 21.4M | 94.5M | 24.25M | 42.87M | 39.84M | 28.64M | 15.34M | 22.22M | 17.54M | 20.16M | 15.65M | -23.8M | 0 | -400K |
| Effective Tax Rate % | 9.17% | -5.44% | 309.63% | -8.51% | 19.8% | 24.87% | 49.83% | 25.08% | 34.55% | 46.79% | 35.36% | 37.06% | 36.7% | 41.47% | 31.51% | 40.25% | 35.84% | 42.39% | 37.69% | 74.07% | 38.58% | 38.88% | 37.15% | 34.57% | 38.04% | 31.4% | 38.04% | 38.18% | -76.53% | 0% | -3.92% |
| Net Income | 41.63M | 13.27M | -18.89M | -16.83M | 71.92M | 114.85M | -56.43M | 61.38M | -51.93M | -111.84M | 97.43M | 94.57M | 97.72M | 92.65M | 112.44M | 92.43M | 53.91M | 28.81M | 150.76M | 6.88M | 67.65M | 62.69M | 48.25M | 28.14M | 36.03M | 37.07M | 29.61M | 25.92M | 53.2M | 8.6M | 10.4M |
| Net Margin % | 1.71% | 0.54% | -0.81% | -0.72% | 3.02% | 4.74% | -3.16% | 2.79% | -2.37% | -5.26% | 4.82% | 3.13% | 3.42% | 3.53% | 4.32% | 4.03% | 3.01% | 1.83% | 9.72% | 0.46% | 4.63% | 4.88% | 4.34% | 3.36% | 4.35% | 4.97% | 4.35% | 4.69% | 9.68% | 1.6% | 2.25% |
| Net Income Growth % | 271.69% | 170.24% | -12.26% | -123.4% | -37.38% | 303.53% | -191.93% | 218.21% | 53.57% | -214.79% | 3.03% | -3.23% | 5.47% | -17.59% | 21.65% | 71.45% | 87.1% | -80.89% | 2089.63% | -89.82% | 7.91% | 29.92% | 71.48% | -21.9% | -2.81% | 25.22% | 14.21% | -51.27% | 518.6% | -17.31% | 2.97% |
| Net Income (Continuing) | 41.62M | 13.28M | -19.51M | -23.63M | 72.24M | 114.95M | -56.03M | 61.76M | 51.22M | 36.71M | 72.88M | 95.38M | 99.37M | 92.98M | 112.9M | 93.45M | 55.24M | 29.09M | 156.22M | 8.49M | 68.25M | 62.63M | 48.46M | 29.02M | 36.19M | 38.32M | 32.83M | 25.34M | 54.9M | 8.8M | 10.6M |
| Discontinued Operations | 12K | -7K | 622K | 6.8M | -327K | -97K | -401K | -373K | -103.15M | -148.55M | 24.55M | -812K | -1.65M | -329K | -462K | -1.02M | -1.34M | -273K | -5.46M | -1.6M | -601K | 60K | -211K | -888K | -165K | -1.25M | -3.23M | 587K | 500K | 0 | -200K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.53M | 1.47M | 1.63M | 1.97M | 1.93M | 1.93M | 2.25M | 2.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.97 | 1.25 | -1.80 | -1.50 | 5.66 | 7.92 | -3.94 | 3.92 | -2.66 | -5.80 | 4.83 | 4.19 | 4.12 | 3.92 | 4.60 | 3.43 | 2.24 | 1.20 | 7.93 | 0.29 | 2.59 | 2.38 | 1.91 | 1.20 | 1.46 | 1.46 | 1.21 | 1.05 | 1.83 | 0.31 | 0.39 |
| EPS Growth % | 257.38% | 169.44% | -20% | -126.5% | -28.54% | 301.02% | -200.51% | 247.37% | 54.14% | -220.08% | 15.27% | 1.7% | 5.1% | -14.78% | 34.11% | 53.13% | 86.67% | -84.87% | 2634.48% | -88.8% | 8.82% | 24.61% | 59.17% | -17.81% | 0% | 20.66% | 15.24% | -42.62% | 490.32% | -20.51% | -2.5% |
| EPS (Basic) | - | 1.28 | -1.74 | -1.50 | 5.77 | 8.11 | -3.94 | 3.95 | -2.68 | -5.82 | 4.85 | 4.21 | 4.16 | 3.98 | 4.68 | 3.52 | 2.28 | 1.20 | 7.93 | 0.30 | 2.98 | 2.74 | 2.18 | 1.28 | 1.64 | 1.65 | 1.34 | 1.15 | 2.07 | 0.33 | 0.41 |
| Diluted Shares Outstanding | 10.48M | 10.62M | 10.84M | 11.24M | 12.71M | 14.51M | 14.22M | 15.67M | 19.5M | 19.28M | 20.17M | 23M | 23.71M | 23.61M | 24.04M | 23.85M | 23.72M | 21.09M | 24.17M | 22.99M | 26.02M | 26.22M | 25.11M | 23.2M | 24.47M | 25.19M | 24.47M | 24.69M | 29.07M | 27.74M | 26.67M |
| Basic Shares Outstanding | 10.48M | 10.37M | 10.84M | 11.24M | 12.46M | 14.17M | 14.22M | 15.54M | 19.35M | 19.22M | 20.08M | 22.88M | 23.51M | 23.3M | 23.58M | 23.23M | 23.21M | 20.87M | 19.4M | 22.23M | 22.61M | 22.78M | 22M | 21.75M | 21.79M | 22.29M | 22.09M | 22.54M | 25.7M | 26.06M | 25.37M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.04% | 0.82% | 0.79% | 1.01% | 1.16% | 2.82% | - | - |
Quick answers to the most common questions about buying GCO stock.
For fiscal year 2026, Genesco Inc. (GCO) reported total revenue of $2.44B. This represents a 428.1% increase compared to $461.3M in 1997.
Genesco Inc. (GCO) is profitable, generating $13.3M in net income for the fiscal year ending 2026 with a net profit margin of 0.5%.
Genesco Inc. (GCO) reported an operating income of $25.4M, resulting in an operating profit margin of 1.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Genesco Inc. (GCO) generated $1.13B in gross profit for the year, representing a gross profit margin of 46.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
SG&A operating leverage deficit
Metrics are mathematically derived from official filings.
Revenue Growth Decelerates Into Fiscal 2027
Revenue growth decelerated to -3.0% year over year in 2027Q2, versus a 4.0% gain in 2026Q2, with the four-quarter trend weakening after a 7.2% peak in 2026Q4, suggesting underlying demand momentum has softened beyond holiday seasonality, according to recent SEC filings.
Genesco's top line moved from consistent mid-single-digit gains (2.8% to 7.2% across 2026Q1-Q4) to a -3.0% contraction in 2027Q2, which appears to signal more than just post-holiday normalization given that the same quarter posted 4.0% growth a year prior. The swing from $546.0M to $529.9M in the comparable second quarter suggests either traffic weakness or a strategic reduction in promotional volume, and investors should monitor whether this is transitory or a reset of the base.
Gross Margin Resilience Masks Operating Weakness
GCO's gross margin of 47.2% in 2027Q2 sat roughly 900-1,060 basis points above peers Shoe Carnival and Boot Barn, yet operating margin remained negative at -1.7%, suggesting the premium gross margin is absorbed by SG&A rather than converted into earnings, as reported in Genesco's financial statements.
The 45.8%-47.8% gross margin band held remarkably steady across ten quarters even as revenue ranged from $457.6M to $799.9M, which appears to reflect disciplined assortment and markdown management rather than cyclical pricing tailwinds. However, this structural gross margin advantage over the peer set does not currently translate into superior operating profitability — Boot Barn's 13.3% operating margin versus GCO's largely negative print suggests the gap lies in cost architecture, not merchandise economics.
Fixed Cost Base Undermines Operating Leverage
With R&D at zero and SG&A at $259.6M in 2027Q2 — approximately 49% of revenue — Genesco's cost structure appears predominantly fixed, which may explain why a 4.0% revenue increase in 2026Q2 still produced a $14.3M operating loss, as reported in SEC filings.
Operating income has moved violently off modest revenue changes — swinging from -$27.9M in 2026Q1 to $54.6M in 2026Q4 on a 19% revenue step-up — a pattern consistent with a high fixed-cost retail network that only clears break-even at peak volume. SG&A has tracked between roughly $247M and $312M across quarters with little flexibility, implying that Genesco's operating leverage is leveraged rather than diversified; the 2027Q1 SG&A line was not disclosed in the dataset, limiting direct verification of that trajectory.
Holiday Quarter Delivers Sole Profit Inflection
2026Q4 stands out as the earnings inflection, generating $54.6M of operating income on a 6.8% margin — approximately 470-1,380 basis points above every other quarter — driven by peak-season revenue of $799.9M, according to Genesco's reported financial statements.
The fourth quarter has consistently been the only period in which Genesco converts gross profit into meaningful operating and net income, with 2026Q4 net income of $47.6M (6.0% net margin) compared to losses in the two preceding quarters. This creates an inherently lumpy earnings profile: a single soft holiday quarter could erase an entire fiscal year's profit contribution, which has historically compressed annual EPS into the low-to-mid single digits despite revenue exceeding $2.4B. The durability of this inflection depends on whether Genesco can widen the profitable window beyond Q4.
Structural Profitability Concern Beyond Seasonality
Genesco posted net losses in six of the ten reported quarters despite gross margins consistently near 47%, a pattern that suggests the strain is structural rather than demand-driven, and warrants closer scrutiny of SG&A-to-revenue ratios and comparable-store productivity.
A short-seller's strongest case would center on the disconnect between peer-leading gross margins and sub-benchmark operating returns: CAL earns only 1.1% operating margin on $2.8B of revenue, but GCO's negative operating print on a smaller base suggests the issue is not industry-wide but company-specific cost intensity. Net margin volatility — from -5.3% in 2025Q1 to 6.0% in 2026Q4 — also raises questions about earnings quality and the reliability of any normalized EPS assumption, and the negative SBC reversal of -$9.1M in 2026Q4 further complicates year-over-year comparability. Investors should weigh whether the current valuation embeds a margin recovery that the reported trajectory does not yet support.