Genesco, Inc. (GCO) dropped 28.11%, falling $9.91 to $25.34, following the release of its third-quarter fiscal 2026 results that fell short of expectations and signaled pressure on margins and full-year performance.
The company reported a decline in comparable sales and weaker wholesale orders, which, combined with elevated costs, squeezed profitability. Management noted uncertainty in consumer demand and said it may revise full-year guidance if current trends persist.
On the day of the announcement, GCO experienced unusually heavy trading volume as investors responded to the disappointing results and potential headwinds. The stock's 52-week range was approximately $24.10 - $42.50.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.