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About Genesco Inc.

Genesco sells casual and dress footwear, headwear, and sports apparel through about 1,515 shoe and accessory stores in the US, Canada, Puerto Rico, the UK, Ireland, and Germany. Genesco's shoe operations include Journeys, upscale Johnston & Murphy, Schuh, as well as sales of licensed brands (Levi Strauss and Dockers footwear). It also sells wholesale footwear through various brands. Founded in 1924 as a shoe retailer, Genesco expanded overseas with the purchase of Scotland's Schuh. It sold its Lids Sports Group business to FanzzLids Holdings in 2019.

Operations

Genesco operates through four business segments. Journeys Group, the largest business at around two-thirds of sales, includes footwear and accessories chains Journeys (13-22 year olds), Journeys Kidz (5-12 year olds), and Little Burgundy (18-34 year olds). It operates around nearly 915 Journeys stores, almost 240 Journeys Kidz stores, and more than 40 Little Burgundy stores.

Schuh (pronounced “shoe”) operates more than 135 stores in the UK, Ireland, and Germany, and accounts for nearly 20% of Genesco's revenue. Its stores targets men and women in the 16 to 24 age group.

The Johnson & Murphy group consists of nearly 185 upscale shoe stores selling primarily to men in the 35 to 55 age group and brings in nearly 15% of sales.

Genesco’s licensed brands business sells Dockers Footwear and accounts for under 5% of sales.

It relies on independent third-party manufacturers for production of its footwear products sold at wholesale. The company also sources footwear and accessory products from foreign manufacturers.

Geographic Reach

Nashville, Tennessee-based Genesco operates throughout the US, Canada, Puerto Rico, the UK, Ireland, and Germany. It also operates eight facilities in the US and Scotland that are used for distribution and administration. The company sources its footwear and accessories from manufacturers in about 20 countries, including Bangladesh, Brazil, China, India, Mexico, Pakistan, Taiwan, Tunisia, and Vietnam. 

Sales and Marketing

Genesco distributes its products through company-owned retail stores, online, and by catalog. It also supplies wholesalers.

The company also designs, sources, markets and distributes footwear under its own Johnston & Murphy brand, and H.S. Trask brand, the licensed Dockers and other brands that the Genesco licenses for footwear to more than 1,250 retail accounts in the US.

Advertising costs were $68.3 million, $68.6 million and $62.9 million for fiscal 2018, 2017 and 2016, respectively.

Financial Performance

Genesco has struggled in a challenging retail environment in recent years. Its annual revenues have fallen more than 23% since 2015.

Revenue increased to $2.1 billion in 2019, an approximately 3% increase from the year prior. The increase was driven by higher sales in the Journeys and Johnson & Murphy groups, partially offset by decreased sales in the Schuh Group and Licensed Brands.  

Net loss was $51.9 million in fiscal year 2019, a drop from $111.8 million in fiscal year 2017. Selling and administrative expenses grew 3% in fiscal 2019 to $962 million.

Cash provided by operating activities was $237.1 million in fiscal 2019, while investing activities used $56.5 million. Financing activities used another $52.7 million.

Strategy

Genesco has managed in an intensely competitive retail environment through targeted cost reduction, sharing of synergies among its divisions, and readjusting store counts.

Genesco plans to open fewer stores in the future, concentrating on locations that will be most productive. In fiscal 2020, Genesco plans to open a total of approximately 30 new retail stores and to close 40 retail stores. 

Its Journey's segment has continued to be a bright spot for the company, with growth in same-store sales. The chain has attracted a loyal teenage audience with an on-trend selection and fashionable and friendly store staff. 

In 2019, Genesco sold its Lids Sports Group to FanzzLids Holdings, a holding company controlled and operated by affiliates of Ames Watson Capital, LLC, for $101 million. The acquisition allows Genesco to focus more on its core footwear operations. 

Mergers and Acquisitions

In early 2019, Genesco completed the sale of its Lids Sports Group to FanzzLids Holdings, a holding company controlled and operated by affiliates of Ames Watson Capital, LLC, for $101 million. The company sold the unit to better focus on opportunities in the footwear space. 

Company Background

Genesco was founded in 1934.

Genesco Inc.

1415 MURFREESBORO RD
Nashville, TN 37217-2829
Phone: 1 (615) 367-7000

Stats

Employer Type: Publicly Owned
Stock Symbol: GCO
Stock Exchange: , NYSE
Chairman, President, and CEO: Robert J. Dennis
Chief Information and Logistics Officer: Jeff Orton
CFO: Mimi E. Vaughn
Employees (This Location): 150
Employees (All Locations): 21,000

Major Office Locations

Nashville, TN

Other Locations

Anchorage, AK
Fairbanks, AK
Auburn, AL
Birmingham, AL
Dothan, AL
Florence, AL
Foley, AL
Hoover, AL
Huntsville, AL
Leeds, AL
Mobile, AL
Montgomery, AL
Oxford, AL
Tuscaloosa, AL
Fayetteville, AR
Fort Smith, AR
Hot Springs, AR
Jonesboro, AR
Little Rock, AR
North Little Rock, AR
Rogers, AR
Chandler, AZ
Flagstaff, AZ
Glendale, AZ
Mesa, AZ
Phoenix, AZ
Prescott, AZ
Scottsdale, AZ
Sierra Vista, AZ
Tempe, AZ
Tucson, AZ
Yuma, AZ
Antioch, CA
Arcadia, CA
Bakersfield, CA
Brea, CA
Burbank, CA
Cabazon, CA
Camarillo, CA
Canoga Park, CA
Capitola, CA
Carlsbad, CA
Cerritos, CA
Chico, CA
Chula Vista, CA
Citrus Heights, CA
City Of Industry, CA
Commerce, CA
Concord, CA
Costa Mesa, CA
Downey, CA
El Cajon, CA
El Centro, CA
Escondido, CA
Eureka, CA
Fairfield, CA
Folsom, CA
Fresno, CA
Gilroy, CA
Glendale, CA
Hanford, CA
Hayward, CA
Irvine, CA
Lakewood, CA
Livermore, CA
Milpitas, CA
Mission Viejo, CA
Modesto, CA
Montclair, CA
Montebello, CA
Monterey, CA
Moreno Valley, CA
National City, CA
Newark, CA
Northridge, CA
Ontario, CA
Palmdale, CA
Palm Desert, CA
Panorama City, CA
Pismo Beach, CA
Redding, CA
Riverside, CA
Roseville, CA
Sacramento, CA
Salinas, CA
San Bernardino, CA
San Bruno, CA
San Diego, CA
San Francisco, CA
San Jose, CA
San Leandro, CA
San Mateo, CA
Santa Ana, CA
Santa Clara, CA
Santa Clarita, CA
Santa Monica, CA
Santa Rosa, CA
San Ysidro, CA
Stockton, CA
Tejon Ranch, CA
Temecula, CA
Thousand Oaks, CA
Tracy, CA
Tulare, CA
Vacaville, CA
Valencia, CA
Ventura, CA
Victorville, CA
Visalia, CA
West Covina, CA
Westminster, CA
Yuba City, CA
Aurora, CO
Broomfield, CO
Castle Rock, CO
Colorado Springs, CO
Denver, CO
Grand Junction, CO
Greeley, CO
Lakewood, CO
Littleton, CO
Lone Tree, CO
Loveland, CO
Pueblo, CO
Clinton, CT
Danbury, CT
Farmington, CT
Manchester, CT
Meriden, CT
Milford, CT
Stamford, CT
Trumbull, CT
Waterbury, CT
Waterford, CT
Washington, DC
Dover, DE
Newark, DE
Rehoboth Beach, DE
Wilmington, DE
Altamonte Springs, FL
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Aiea, HI
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Ames, IA
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Greenwood, IN
Indianapolis, IN
Lafayette, IN
Merrillville, IN
Michigan City, IN
Mishawaka, IN
Muncie, IN
Plainfield, IN
Richmond, IN
Terre Haute, IN
Westfield, IN
Manhattan, KS
Overland Park, KS
Shawnee Mission, KS
Topeka, KS
Wichita, KS
Ashland, KY
Bowling Green, KY
Florence, KY
Lexington, KY
Louisville, KY
Owensboro, KY
Paducah, KY
Alexandria, LA
Baton Rouge, LA
Bossier City, LA
Gretna, LA
Houma, LA
Kenner, LA
Lafayette, LA
Lake Charles, LA
Metairie, LA
Monroe, LA
Shreveport, LA
Slidell, LA
Auburn, MA
Boston, MA
Braintree, MA
Burlington, MA
Cambridge, MA
Holyoke, MA
Hyannis, MA
Lanesborough, MA
Lee, MA
Marlborough, MA
Natick, MA
North Attleboro, MA
Peabody, MA
Saugus, MA
Springfield, MA
Taunton, MA
Wrentham, MA
Annapolis, MD
Baltimore, MD
Bel Air, MD
Bethesda, MD
Columbia, MD
Frederick, MD
Gaithersburg, MD
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Hagerstown, MD
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Hyattsville, MD
Oxon Hill, MD
Queenstown, MD
Salisbury, MD
Silver Spring, MD
Towson, MD
White Marsh, MD
Bangor, ME
Kittery, ME
South Portland, ME
Ann Arbor, MI
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Birch Run, MI
Dearborn, MI
Flint, MI
Fort Gratiot, MI
Grand Rapids, MI
Grandville, MI
Harper Woods, MI
Howell, MI
Lansing, MI
Livonia, MI
Midland, MI
Muskegon, MI
Novi, MI
Okemos, MI
Portage, MI
Roseville, MI
Saginaw, MI
Sterling Heights, MI
Taylor, MI
Traverse City, MI
Troy, MI
Westland, MI
Albertville, MN
Bloomington, MN
Burnsville, MN
Duluth, MN
Eden Prairie, MN
Hopkins, MN
Mankato, MN
Minneapolis, MN
Minnetonka, MN
Osseo, MN
Saint Cloud, MN
Saint Paul, MN
Branson, MO
Cape Girardeau, MO
Columbia, MO
Hazelwood, MO
Independence, MO
Joplin, MO
Kansas City, MO
Osage Beach, MO
Saint Joseph, MO
Saint Louis, MO
Saint Peters, MO
Biloxi, MS
Greenville, MS
Hattiesburg, MS
Meridian, MS
Ridgeland, MS
Southaven, MS
Tupelo, MS
Billings, MT
Asheville, NC
Cary, NC
Charlotte, NC
Concord, NC
Durham, NC
Fayetteville, NC
Gastonia, NC
Goldsboro, NC
Greensboro, NC
Greenville, NC
Hickory, NC
Jacksonville, NC
Mebane, NC
Pineville, NC
Raleigh, NC
Rocky Mount, NC
Smithfield, NC
Wilmington, NC
Winston Salem, NC
Bismarck, ND
Fargo, ND
Grand Forks, ND
Minot, ND
Gretna, NE
Lincoln, NE
Omaha, NE
Manchester, NH
Merrimack, NH
Nashua, NH
Newington, NH
North Conway, NH
Salem, NH
Bridgewater, NJ
Cherry Hill, NJ
Deptford, NJ
East Brunswick, NJ
Eatontown, NJ
Edison, NJ
Elizabeth, NJ
Freehold, NJ
Jersey City, NJ
Lawrenceville, NJ
Livingston, NJ
Mays Landing, NJ
Moorestown, NJ
Rockaway, NJ
Short Hills, NJ
Tinton Falls, NJ
Toms River, NJ
Wayne, NJ
Woodbridge, NJ
Woodbury, NJ
Albuquerque, NM
Clovis, NM
Farmington, NM
Gallup, NM
Las Cruces, NM
Santa Fe, NM
Henderson, NV
Las Vegas, NV
Reno, NV
Albany, NY
Amherst, NY
Bay Shore, NY
Brooklyn, NY
Buffalo, NY
Central Valley, NY
Deer Park, NY
Elmhurst, NY
Garden City, NY
Halfmoon, NY
Hicksville, NY
Horseheads, NY
Huntington Station, NY
Johnson City, NY
Kingston, NY
Lake Grove, NY
Lake Katrine, NY
Massapequa, NY
Middletown, NY
New York, NY
New York Mills, NY
Niagara Falls, NY
Plattsburgh, NY
Poughkeepsie, NY
Riverhead, NY
Rochester, NY
Staten Island, NY
Syracuse, NY
Valley Stream, NY
Waterloo, NY
West Nyack, NY
White Plains, NY
Yorktown Heights, NY
Akron, OH
Beachwood, OH
Beavercreek, OH
Canton, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Dayton, OH
Dublin, OH
Elyria, OH
Fairlawn, OH
Findlay, OH
Heath, OH
Jeffersonville, OH
Lancaster, OH
Liberty Township, OH
Lima, OH
Mansfield, OH
Maumee, OH
Mentor, OH
Niles, OH
North Olmsted, OH
Richmond Heights, OH
Saint Clairsville, OH
Sandusky, OH
Strongsville, OH
Toledo, OH
Youngstown, OH
Bartlesville, OK
Lawton, OK
Norman, OK
Oklahoma City, OK
Shawnee, OK
Tulsa, OK
Eugene, OR
Medford, OR
Portland, OR
Salem, OR
Tigard, OR
Woodburn, OR
Bensalem, PA
Camp Hill, PA
Center Valley, PA
Erie, PA
Exton, PA
Grove City, PA
Harrisburg, PA
Homestead, PA
King Of Prussia, PA
Lancaster, PA
Langhorne, PA
Mercer, PA
Monaca, PA
Monroeville, PA
North Wales, PA
Philadelphia, PA
Pittsburgh, PA
Plymouth Meeting, PA
Pottstown, PA
Reading, PA
Springfield, PA
State College, PA
Tarentum, PA
Uniontown, PA
Washington, PA
Whitehall, PA
Wilkes Barre, PA
Willow Grove, PA
York, PA
Providence, RI
Anderson, SC
Bluffton, SC
Charleston, SC
Columbia, SC
Florence, SC
Gaffney, SC
Greenville, SC
Myrtle Beach, SC
North Charleston, SC
Spartanburg, SC
Rapid City, SD
Sioux Falls, SD
Bartlett, TN
Chapel Hill, TN
Chattanooga, TN
Clarksville, TN
Collierville, TN
Fayetteville, TN
Franklin, TN
Gatlinburg, TN
Goodlettsville, TN
Jackson, TN
Johnson City, TN
Knoxville, TN
Lebanon, TN
Memphis, TN
Morristown, TN
Murfreesboro, TN
Nashville, TN
Sevierville, TN
Springfield, TN
Abilene, TX
Allen, TX
Amarillo, TX
Angleton, TX
Arlington, TX
Austin, TX
Baytown, TX
Beaumont, TX
Brownsville, TX
Canutillo, TX
Cedar Hill, TX
Cedar Park, TX
College Station, TX
Cypress, TX
Dallas, TX
Denton, TX
Eagle Pass, TX
El Paso, TX
Fort Worth, TX
Friendswood, TX
Frisco, TX
Garland, TX
Grand Prairie, TX
Grapevine, TX
Harlingen, TX
Houston, TX
Humble, TX
Hurst, TX
Irving, TX
Katy, TX
Killeen, TX
Lake Jackson, TX
Laredo, TX
Lewisville, TX
Longview, TX
Lubbock, TX
Lufkin, TX
Mcallen, TX
Mercedes, TX
Mesquite, TX
Midland, TX
Odessa, TX
Pasadena, TX
Pearland, TX
Plano, TX
Port Arthur, TX
Round Rock, TX
San Angelo, TX
San Antonio, TX
San Marcos, TX
Sherman, TX
Spring, TX
Sugar Land, TX
Temple, TX
Texarkana, TX
The Woodlands, TX
Tyler, TX
Victoria, TX
Waco, TX
Wichita Falls, TX
Layton, UT
Murray, UT
Ogden, UT
Orem, UT
Park City, UT
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St George, UT
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Charlottesville, VA
Chesapeake, VA
Christiansburg, VA
Colonial Heights, VA
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Fairfax, VA
Fredericksburg, VA
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Manchester Center, VT
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Bellevue, WA
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Kennewick, WA
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Spokane Valley, WA
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Glendale, WI
Green Bay, WI
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La Crosse, WI
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Racine, WI
Barboursville, WV
Bridgeport, WV
Charleston, WV
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Anjou, Canada
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Belleville, Canada
Brampton, Canada
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