Genesco Inc. closed 25 underperforming stores in Q2 fiscal 2027, reducing its total store count by 5% to 1,186. This move is part of a strategic shift to lower costs, improve profitability, and focus on higher-margin operations. Despite a 3% drop in net sales to $530 million, adjusted gross margins rose 140 basis points to 47.2%, aided by fewer promotional discounts and store closures. The company also cut debt significantly and expects $40-$50 million in savings by fiscal 2029 through efficiency measures like automation and AI. Strong back-to-school sales helped Journeys grow comparable sales by 2%, prompting Genesco to raise its full-year adjusted earnings guidance to the high end of $2 to $2.40 per share.
Intel's stock surged after Northland Securities upgraded it from "Market Perform" to "Outperform" with a $120 price target, following Intel Foundry's progress in High Numerical Aperture Extreme Ultraviolet (High-NA EUV) lithography. Intel has process...
ABM Industries reported strong Q3 2026 results, surpassing analyst EPS estimates with $1.04 per share versus the expected $1.01. The company achieved record revenue of $2.3 billion, a 4.2% increase driven by organic and acquisition growth. Adjusted n...
GameStop is set to report its Q2 2026 earnings with analysts expecting an EPS of $0.27 and revenues around $756.85 million, down from $972.20 million the previous year. The company’s own sales forecast of $780-$800 million confirms a significant reve...
Opus Genetics, a clinical-stage biotech focused on inherited retinal diseases, received a Buy rating and $8 price target from analyst Matthew Caufield in August 2026. The company plans to release topline Phase 1/2 data for its gene therapy OPGx-BEST1...
General Electric (GE) announced it will acquire Consolidated Precision Products (CPP) for $11.75 billion to enhance its aerospace casting production. This strategic move aims to strengthen GE's manufacturing capabilities and accelerate engine technol...
