Preheat oven to 375°.
Lightly spoon flour into a dry measuring cup, and level with a knife. Combine the flour, 1/4 cup granulated sugar, and brown sugar in a bowl. Cut in butter with a pastry blender or 2 knives until crumbly. Stir in almonds.
Combine peaches and remaining ingredients in a bowl. Spoon peach mixture into an 8-inch square baking dish. Sprinkle with flour mixture. Bake at 375° for 45 minutes or until lightly browned and bubbly.