Genesco swung to a profit in its fiscal second quarter, even as turnaround actions such as store closures and a pullback on discounting weighed on sales.

The retailer behind brands including Journeys and Johnston & Murphy on Thursday reported net earnings of $3.5 million, or 33 cents a share, for its quarter ended Aug. 1. That compares with a loss of $18.5 million, or $1.79 a share, in last year's comparable period.

Stripping out one-time items, such as tariff refunds, Genesco posted a quarterly loss of 83 cents a share. Analysts polled by FactSet expected an adjusted loss of $1.37 a share.

Net sales fell 3% to $529.9 million, compared with Wall Street models for $527.3 million.

Companywide comparable sales slipped 1%, as gains across Genesco's Journeys and Johnston & Murphy brands were more than offset by a decline across its Schuh banner.

Chief Executive Mimi Vaughn pointed to positive comparable sales across Journeys and Johnston & Murphy as evidence the company's turnaround strategy is working, with more full-price selling aiding in gross margin expansion and disciplined expense management driving stronger performance.

"As we anticipated, the decline in sales was driven by strategic actions: store closures, our license transition, and pullback on discounting at Schuh," she said, adding that sales trends are expected to improve as the company moves past short-term headwinds.

Looking ahead, Genesco guided for adjusted earnings to come in at the high end of its previously disclosed range of $2 to $2.40 a share. Analysts are looking for $2.25 a share.

The Nashville, Tenn., company now expects comparable sales to be flat for the year, compared with a prior outlook of up 1% to 2%, reflecting greater pressure across its Schuh brand.

Total sales are now projected to fall about 2%, compared with a previous forecast of flat to down 1%.