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About Genesco Inc.

Genesco sells footwear, apparel, and accessories through about 1,480 shoe and accessory stores in the US, Canada, Puerto Rico, the UK, and the Republic of Ireland. Genesco's shoe operations include Journeys, upscale Johnston & Murphy, Schuh, as well as sales of licensed brands (Levi's and Dockers footwear). It also sells wholesale footwear through various brands. Founded in 1934 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.


Genesco operates through four business segments. Journeys Group, the largest business at around 65% of sales, includes footwear and accessories chains Journeys (13-22 year olds), Journeys Kidz (5-12 year olds), and Little Burgundy (21-34 year olds). It operates around nearly 900 Journeys stores, almost 235 Journeys Kidz stores, and around 40 Little Burgundy stores.

Schuh (pronounced "shoe") operates around 130 stores in the UK, Ireland, and Germany, and accounts for more than 15% of Genesco's revenue. Its stores target teenagers and young adults 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, Levi's, and Bass brands 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, and the Republic of Ireland. It also operates eight facilities in the Tennessee, US and Scotland that are used for distribution and administration. The company sources its footwear and accessories from manufacturers in more than 20 countries, including Bangladesh, Brazil, Canada, China, Dominican Republic, El Salvador, France, Germany, Hong Kong, India, Indonesia, Italy, Mauritius, Mexico, Nicaragua, Pakistan, Portugal, Peru, Romania, Taiwan, and Vietnam.

Sales and Marketing

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

The company also designs, sources, markets and distributes footwear under its own Johnston & Murphy brand, and H.S. Trask brand, the licensed Levi's, Dockers, and Bass brands, as well as other brands that the Genesco licenses for footwear to more than 1,100 retail accounts in the US.

Advertising costs were $72.3 million, $68.3 million, and $68.6 million for fiscal 2020, 2019 and2018, respectively.

Financial Performance

Except in 2017 when the company experienced a dip in its revenue, Genesco generally have an upward growth trend in its revenue for the last five years. Net income enjoyed growth for the first 2 years, but suffered losses on the next two years.

Revenue increased to $2.2 billion in 2020, an approximately 0.4% increase from the year prior. The increase in net sales was a result of increased sales in Journeys Group, partially offset by decreased sales in Schuh Group, Johnston & Murphy Group and licensed Brands.

Net income for fiscal 2020 was $61.4 million, a significant increase from $52 million net loss in 2019. Cash at the end of fiscal 2020 was $81.4 million, a $86 million decrease from 2019 .

Cash provided by operating activities was $117.2 million, while investing activities also contributed $53.3 million. Cash used in financing activities was $256.5 million, mainly for payments of long-term debt and shares repurchasing.


The Company have aligned its business strategy around six pillars: Build deeper consumer insights to strengthen customer relationships and brand equity; Intensify product innovation and trend insight efforts; Accelerate digital to grow direct-to-consumer; Maximize the relationship between physical and digital; Reshape the cost base to reinvest for future growth; and Pursue synergistic acquisitions that add growth and create shareholder value.

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.

The Company anticipate that potential acquisitions would either augment existing businesses or facilitate its entry into new businesses that are compatible with its existing footwear businesses and core expertise. In 2020, Genesco acquired Togast and may pursue other acquisition in the future.

Mergers and Acquisitions

In 2020, Genesco Inc. has completed the acquisition of the U.S. assets of New York-based Togast LLC, previously announced on late 2019. Togast is a company that specializes in the design, sourcing and sale of licensed footwear. The acquisition is expected to be accretive to Genesco's fiscal 2021 earnings. The purchase price for the acquisition is $33.7 million in cash at closing, plus up to an additional $34.0 million in cash contingent on the achievement of financial targets over the next four years.

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

Nashville-based Genesco was founded in 1924 by James Franklin Jarman and incorporated the following year as Jarman Shoe Company. In 1933, James Jarman made Walton Maxey Jarman, his son, to become the company president and moved up to chairman. Maxey changed the company name to General Shoe Corporation, and, despite the troubled economy of the Depression, started moving the company into shoe retail.

Genesco have gone public in 1939.

Genesco Inc.

1415 Mrfrsbro Pike Gnscop
Nashville, TN 37217-2829
Phone: 1 (615) 367-7000

Firm 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): 22,050

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
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Milpitas, CA
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Modesto, CA
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Montebello, CA
Monterey, CA
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Billings, MT
Asheville, NC
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Gretna, NE
Lincoln, NE
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Manchester, NH
Merrimack, NH
Nashua, NH
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Bridgewater, NJ
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Henderson, NV
Las Vegas, NV
Reno, NV
Albany, NY
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Bay Shore, NY
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Middletown, NY
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Waterloo, NY
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Akron, OH
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Beavercreek, OH
Canton, OH
Cincinnati, OH
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Dayton, OH
Dublin, OH
Elyria, OH
Fairlawn, OH
Findlay, OH
Heath, OH
Jeffersonville, OH
Lancaster, OH
Liberty Township, OH
Lima, OH
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Maumee, OH
Mentor, OH
Niles, OH
North Olmsted, OH
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Saint Clairsville, OH
Sandusky, OH
Strongsville, OH
Toledo, OH
Youngstown, OH
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Norman, OK
Oklahoma City, OK
Shawnee, OK
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Eugene, OR
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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
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Philadelphia, PA
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Reading, PA
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State College, PA
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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
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Austin, TX
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Cedar Park, TX
College Station, TX
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Denton, TX
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El Paso, TX
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Katy, TX
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Lufkin, TX
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