About Genesco Inc.

Genesco's sole concern is nicely capped off, to boot (so to speak). It sells casual and dress footwear, headwear, and sports apparel through more than 2,560 shoe and cap stores in the US, Canada, Puerto Rico, the UK, and Ireland. Genesco's shoe operations include Journeys, upscale Johnston & Murphy, Schuh, and Licensed Brands (Levi Strauss' Dockers footwear, Keuka). Its fast-growing Lids Sports division operates the Lids Locker Room retail chain and website, as well as the Lids Team Sports team dealer business. Founded in 1924 as a shoe retailer, Genesco has diversified by adding hats and sports apparel and selling merchandise online. It expanded overseas with the purchase of Scotland's Schuh.

Geographic Reach

Nashville-based Genesco operates throughout the US, Canada, and Puerto Rico. The company sources its footwear and accessories from foreign manufacturers in about 20 countries, including Bangladesh, Brazil, China, Mexico, and Vietnam. While Genesco doesn't breakout international sales, its UK-based Schuh business rang up about $365 million in fiscal 2014 (ended January), accounting for about 14% of Genesco's net sales.


Genesco is a leading footwear and accessories retailer and wholesaler that operates through five business segments: Journeys Group (about 40% of sales) operates the teen-focused Journeys, Journeys Kidz, and Shi by Journeys shoe chains, catalog, and online business; Lids Sports Group (31% of sales) sells headwear and accessories under the Lids and other banners at mall-based stores, airports, and kiosks throughout North America and Puerto Rico; Schuh (acquired in mid-2011) is a leading fashion footwear chain based in Scotland with about 100 stores in England and Ireland; the Johnston & Murphy Group (10% of sales) operates some 170 Johnston & Murphy upscale shoe stores, a catalog and online division, and wholesale distribution business; lastly, Licensed Brands is comprised primarily of Dockers Footwear licensed from Levi Strauss.

Sales and Marketing

The footwear and apparel company distributes its products through company-owned retail stores, online, and by catalog. It also supplies wholesalers. Genesco reported advertising costs of $56.9 million in fiscal 2014 (ended January), up from $48.3 million the prior year.

Financial Performance

After reaching an all-time high of $2.6 billion in fiscal 2013 (ended January), Genesco's sales were relatively unchanged in fiscal 2014, rising less than 1%, to $2.62 billion. Contributing to the modest gain in fiscal 2014 were increases in sales at Lids Sports Group (up 4%), Johnston & Murphy (up 11%), and Licensed Brands (up 1%), partially offset by lower sales at Journeys and Schuh in Scotland. Net income declined 16%, to $92.6 million, due to increased SG&A and income tax expenses and decreased interest income.


Genesco's long-term strategy is to grow organically -- through the addition of new stores -- and through acquisitions. Overall, Genesco has added 300-plus stores over the past five years, about 70% of which came from acquisitions, including Schuh and Sports Avenue's 48 stores in fiscal 2011. Going forward, Genesco plans to open 17 net new Journeys stores, a dozen new Schuh and Schuh Kids stores overseas, and eight Johnston & Murphy shops in fiscal 2015 (ends January). The Lids Sports Group is the real growth story for 2015 however, with plans to open or acquire 260 net new stores, which includes 175 Locker Room by Lids leased departments in Macy's department stores.

To trim its loses at its urban-inspired Underground Station business, Genesco had been closing its stores and in 2013 combine its operations with those of Journeys.

Mergers and Acquisitions

Fiscal 2014 (ended January) was a relatively quiet year for the acquisitive company. Indeed, Genesco completed several purchases of primarily small retail chains for a total of $13.6 million. The acquired stores will join the fast-growing Lids Sports Group.

In fiscal 2013 (ended January), the company acquired several small retail chains for a total purchase price of $23.8 million and added the stores to its Lids Sports Group. More significantly, it paid £100 million (roughly $160 million) in June 2011 for casual and athletic footwear retailer Schuh, whose operations included about 60 stores in the UK and Ireland, more than 15 locations inside Republic clothing shops, and an e-commerce site. (Genesco agreed to dole out up to £50 million more to Schuh if it meets performance targets in coming years.) Genesco retained Schuh's store banner, and plans to introduce the UK retailer's private-label shoe brands to the US, and have the unit design footwear exclusively for Journeys stores.


FMR LLC is the company's largest shareholder with more than 15% of its shares. Eagle Asset Management owns about 13%, while BlackRock owns about 10%.

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Genesco Inc.

1415 Murfreesboro Pike
Nashville, TN 37217-2829
Phone: 1 (615) 367-7000
Fax: 1 (615) 367-7121


  • Employer Type: Public
  • Stock Symbol: GCO
  • Stock Exchange: NYSE
  • Chairman, President, and CEO: Robert J. Dennis
  • Chief Information and Logistics Officer: Jeff Orton
  • CFO: Mimi E. Vaughn

Major Office Locations

  • Nashville, TN

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