Genesco Inc. (NYSE:GCO) stock rose Friday after the footwear and apparel retailer reported first-quarter sales that topped Wall Street expectations and raised its full-year earnings outlook, signaling improving momentum across several of its key brands.

Investors also responded positively to the company’s planned cost-cutting initiatives and the prospect of tariff refunds that could further support profitability in the coming years.

First-Quarter Results

Genesco reported a first-quarter adjusted loss of $2.18 per share, narrower than analysts’ expectations for a loss of $2.56 per share.

Revenue increased 3% year over year to $487.0 million, exceeding the consensus estimate of $475.0 million.

Comparable sales rose 2% during the quarter, driven by a 3% increase in store sales, while e-commerce sales were flat.

Gross margin expanded by 30 basis points from the prior-year period, primarily due to lower shipping and warehouse costs and reduced promotional activity. Those gains were partially offset by changes in brand mix at Journeys ...