Genesco: The Worst Has Passed, But Progress Still Needs To Be Made (Rating Upgrade)

2026-02-27 06:14:28 ET

Sadly for shareholders, Genesco ( GCO ) just cannot catch a break. Since I reaffirmed the company as a ‘sell’ candidate back in November of last year, the stock has dropped 8.4%. This is at a time when the S&P 500 is up 2.1%. But that's not even the worst of it. Back in December of 2024, I downgraded it from a ‘hold’ to a ‘sell’ because of worsening fundamentals. And since then, the stock has plummeted 30%. By comparison, the market has risen 15% in that time frame. Looking at the picture today, I do see some near term improvements. Revenue has actually risen, and cash flows for the company have ticked up. A couple of its brands are doing quite well. However, management has had to the lower guidance when it comes to the 2026 fiscal year in its entirety. This certainly proved instrumental in pushing the stock lower lately....

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