GCO Genesco Inc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

 

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended August 3, 2024

 

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to

Commission File No. 1-3083

Genesco Inc.

(Exact name of registrant as specified in its charter)

Tennessee			62-0211340
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)
	535 Marriott Drive		37214
Nashville,	Tennessee		(Zip Code)
(Address of principal executive offices)

 

Registrant's telephone number, including area code: (615) 367-7000

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $1.00 par value	GCO	New York Stock Exchange

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such report), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer; an accelerated filer; a non-accelerated filer; a smaller reporting company; or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

 

Large accelerated filer		☐		Accelerated filer	☒
Non-accelerated filer		☐		Smaller reporting company	☐
Emerging growth company		☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☐ No ☒

As of August 30, 2024, there were 11,221,864 shares of the registrant's common stock outstanding.

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INDEX

 

Part I. Financial Information
Item 1. Financial Statements:
Condensed Consolidated Balance Sheets - August 3, 2024, February 3, 2024 and July 29, 2023	4
Condensed Consolidated Statements of Operations - Three and Six Months ended August 3, 2024 and July 29, 2023	5
Condensed Consolidated Statements of Comprehensive Loss - Three and Six Months ended August 3, 2024 and July 29, 2023	6
Condensed Consolidated Statements of Cash Flows - Three and Six Months ended August 3, 2024 and July 29, 2023	7
Condensed Consolidated Statements of Equity - Three and Six Months ended August 3, 2024 and July 29, 2023	8
Notes to Condensed Consolidated Financial Statements	9
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	15
Item 3. Quantitative and Qualitative Disclosures about Market Risk	23
Item 4. Controls and Procedures	23
Part II. Other Information	24
Item 1. Legal Proceedings	24
Item 1A. Risk Factors	24
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	24
Item 5. Other Information	24
Item 6. Exhibits	25
Signature	26

 

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cautionary notice regarding forward-looking statements

Statements in this Quarterly Report on Form 10-Q include certain forward-looking statements, which include statements regarding our intent, belief or expectations and all statements other than those made solely with respect to historical fact. Actual results could differ materially from those reflected by the forward-looking statements in this Quarterly Report on Form 10-Q and a number of factors may adversely affect the forward-looking statements and our future results, liquidity, capital resources or prospects. These include, but are not limited to, adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store and shopping mall traffic, restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements and limitations on our ability to adequately staff and operate stores. Differences from expectations could also result from our ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of pandemics or geopolitical events, including shipping disruptions in the Red Sea; the level of consumer spending on our merchandise and interest in our brands and in general; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; our ability to pass on price increases to our customers; the timing and amount of any share repurchases by us; the imposition of tariffs on products imported by us or our vendors as well as the ability and costs to move production of products in response to tariffs; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs; a disruption in shipping or increase in cost of our imported products, and other factors affecting the cost of products; our dependence on third-party vendors and licensors for the products we sell; our ability to renew our license agreements; impacts of the Russia-Ukraine war, and other sources of market weakness in the U.K. and the Republic of Ireland; the effectiveness of our omni-channel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and the U.K.; labor shortages; the effects of inflation; the evolving regulatory landscape related to our use of social media; the establishment and protection of our intellectual property; weakness in the consumer economy and retail industry; competition and fashion trends in our markets, including trends with respect to the popularity of casual and dress footwear; any failure to increase sales at our existing stores, given our high fixed expense cost structure, and in our e-commerce businesses; risks related to the potential for terrorist events; store closures and effects on the business as a result of civil disturbances; changes in buying patterns by significant wholesale customers; changes in consumer preferences; our ability to continue to complete and integrate acquisitions; our ability to expand our business and diversify our product base; impairment of goodwill in connection with acquisitions; payment related risks that could increase our operating cost, expose us to fraud or theft, subject us to potential liability and disrupt our business; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor of certain leases; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to secure allocations to refine product assortments to address consumer demand; the ability to renew leases in existing stores and control or lower occupancy costs, to open or close stores in the number and on the planned schedule, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; our ability to realize anticipated cost savings, including rent savings; our ability to make our occupancy costs more variable, realize any anticipated tax benefits in both the amount and timeframe anticipated, and achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of our market value relative to our book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for our shares or for the retail sector in general; our ability to meet our sustainability, stewardship, emission and diversity, equity and inclusion related ESG projections, goals and commitments; costs and reputational harm as a result of disruptions in our business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems, and the cost and outcome of litigation, investigations, disputes and environmental matters that involve us. For a full discussion of risk factors, see Item 1A, "Risk Factors".

Readers are cautioned not to place undue reliance on forward-looking statements as such statements speak only as of the date they were made and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. The most important factors which could cause our actual results to differ from our forward-looking statements are set forth in our description of risk factors in Item 1A contained in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024 which should be read in conjunction with the forward-looking statements in this Quarterly Report on Form 10-Q. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update any forward-looking statement.

The events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. As a result, our actual results may differ materially from the results contemplated by these forward-looking statements.

We maintain a website at www.genesco.com where investors and other interested parties may obtain, free of charge, press releases and other information as well as gain access to our periodic filings with the Securities and Exchange Commission (“SEC”). The information contained on this website should not be considered to be a part of this or any other report filed with or furnished to the SEC.

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements (unaudited)

 

Genesco Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands, except share amounts)

 

Assets		August 3, 2024				February 3, 2024				July 29, 2023
Current Assets:
Cash		$	45,855			$	35,155			$	37,416
Accounts receivable, net of allowances of $2,409 at August 3, 2024,
$4,266 at February 3, 2024 and $4,536 at July 29, 2023			57,497				53,618				50,351
Inventories			450,187				378,967				491,118
Prepaids and other current assets			53,181				39,611				45,983
Total current assets			606,720				507,351				624,868
Property and equipment, net			229,116				240,266				244,090
Operating lease right of use assets			402,715				436,896				476,715
Non-current prepaid income taxes			58,051				56,839				55,028
Goodwill			9,284				9,565				9,717
Other intangibles			27,162				27,250				27,952
Deferred income taxes			25,287				26,230				30,623
Other noncurrent assets			25,416				25,493				25,766
Total Assets			1,383,751				1,329,890				1,494,759
Liabilities and Equity
Current Liabilities:
Accounts payable			187,439				114,621				166,504
Current portion - operating lease liabilities			122,527				129,189				137,369
Other accrued liabilities			85,697				75,727				78,707
Total current liabilities			395,663				319,537				382,580
Long-term debt			77,839				34,682				131,544
Long-term operating lease liabilities			329,773				359,073				403,413
Other long-term liabilities			47,854				45,396				44,203
Total liabilities			851,129				758,688				961,740
Commitments and contingent liabilities			—				—				—
Equity
Non-redeemable preferred stock			812				813				812
Common equity:
Common stock, $1 par value:
Authorized: 80,000,000 shares
Issued common stock			11,707				11,961				11,996
Additional paid-in capital			325,775				319,143				313,019
Retained earnings			251,351				296,766				263,081
Accumulated other comprehensive loss			(39,166	)			(39,624	)			(38,032	)
Treasury shares, at cost (488,464 shares)			(17,857	)			(17,857	)			(17,857	)
Total equity			532,622				571,202				533,019
Total Liabilities and Equity		$	1,383,751			$	1,329,890			$	1,494,759

 

The accompanying Notes are an integral part of these Condensed Consolidated Financial Statements.

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Genesco Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

 

 

		Three Months Ended								Six Months Ended
		August 3, 2024				July 29, 2023				August 3, 2024				July 29, 2023
Net sales		$	525,188			$	523,027			$	982,785			$	1,006,359
Cost of sales			279,549				273,507				520,865				528,031
Gross margin			245,639				249,520				461,920				478,328
Selling and administrative expenses			255,135				259,520				502,966				511,017
Goodwill impairment			—				28,453				—				28,453
Asset impairments and other, net			778				174				1,356				482
Operating loss			(10,274	)			(38,627	)			(42,402	)			(61,624	)
Other components of net periodic benefit cost			86				148				195				240
Interest expense, net			1,345				2,383				2,235				4,034
Loss from continuing operations before income taxes			(11,705	)			(41,158	)			(44,832	)			(65,898	)
Income tax benefit			(1,776	)			(9,526	)			(10,615	)			(15,391	)
Loss from continuing operations			(9,929	)			(31,632	)			(34,217	)			(50,507	)
Loss from discontinued operations, net of tax			(63	)			(33	)			(122	)			(48	)
Net Loss		$	(9,992	)		$	(31,665	)		$	(34,339	)		$	(50,555	)
Basic loss per common share:
Continuing operations		$	(0.91	)		$	(2.79	)		$	(3.13	)		$	(4.36	)
Discontinued operations			0.00				0.00				(0.01	)			(0.01	)
Net loss		$	(0.91	)		$	(2.79	)		$	(3.14	)		$	(4.37	)
Diluted loss per common share:
Continuing operations		$	(0.91	)		$	(2.79	)		$	(3.13	)		$	(4.36	)
Discontinued operations			0.00				0.00				(0.01	)			(0.01	)
Net loss		$	(0.91	)		$	(2.79	)		$	(3.14	)		$	(4.37	)
Weighted average shares outstanding:
Basic			10,942				11,344				10,936				11,581
Diluted			10,942				11,344				10,936				11,581

 

The accompanying Notes are an integral part of these Condensed Consolidated Financial Statements.

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Genesco Inc. and Subsidiaries

Condensed Consolidated Statements of Comprehensive Loss

(In thousands)

 

 

		Three Months Ended								Six Months Ended
		August 3, 2024				July 29, 2023				August 3, 2024				July 29, 2023
Net loss		$	(9,992	)		$	(31,665	)		$	(34,339	)		$	(50,555	)
Other comprehensive income:
Postretirement liability adjustments, net of tax			21				62				59				91
Foreign currency translation adjustments			1,372				2,643				399				3,088
Total other comprehensive income			1,393				2,705				458				3,179
Comprehensive Loss		$	(8,599	)		$	(28,960	)		$	(33,881	)		$	(47,376	)

 

The accompanying Notes are an integral part of these Condensed Consolidated Financial Statements.

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Genesco Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(In thousands)

 

		Six Months Ended
		August 3, 2024				July 29, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$	(34,339	)		$	(50,555	)
Adjustments to reconcile net loss to net cash used in
operating activities:
Depreciation and amortization			26,406				23,119
Deferred income taxes			1,535				(1,576	)
Goodwill impairment			—				28,453
Impairment of long-lived assets			360				482
Share-based compensation expense			6,760				7,925
Other			204				686
Changes in working capital and other assets and liabilities:
Accounts receivable			(3,619	)			(9,623	)
Inventories			(70,873	)			(30,237	)
Prepaids and other current assets			(13,492	)			(19,901	)
Accounts payable			73,636				23,394
Other accrued liabilities			9,032				(1,076	)
Other assets and liabilities			(1,639	)			3,774
Net cash used in operating activities			(6,029	)			(25,135	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(14,274	)			(35,298	)
Proceeds from asset sales			—				87
Net cash used in investing activities			(14,274	)			(35,211	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facility			197,610				244,452
Payments on revolving credit facility			(154,376	)			(158,405	)
Shares repurchased related to share repurchase plan			(9,349	)			(32,027	)
Shares repurchased related to taxes for share-based awards			(2,074	)			(2,205	)
Change in overdraft balances			(889	)			(2,707	)
Net cash provided by financing activities			30,922				49,108
Effect of foreign exchange rate fluctuations on cash			81				664
Net increase (decrease) in cash			10,700				(10,574	)
Cash at beginning of period			35,155				47,990
Cash at end of period		$	45,855			$	37,416
Supplemental information:
Interest paid		$	1,995			$	3,380
Income taxes paid			1,581				3,813

 

The accompanying Notes are an integral part of these Condensed Consolidated Financial Statements.

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Genesco Inc. and Subsidiaries

Condensed Consolidated Statements of Equity

(In thousands)

 

	Non- Redeemable Preferred Stock			Common Stock			Additional Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Shares			Total Equity
Balance January 28, 2023	$	815		$	13,089		$	305,260		$	346,870		$	(41,211	)	$	(17,857	)	$	606,966
Net loss		—			—			—			(18,890	)		—			—			(18,890	)
Other comprehensive income		—			—			—			—			474			—			474
Share-based compensation expense		—			—			3,772			—			—			—			3,772
Restricted stock issuance		—			234			(234	)		—			—			—			—
Restricted shares withheld for taxes		—			(13	)		13			(449	)		—			—			(449	)
Shares repurchased		—			(255	)		—			(8,915	)		—			—			(9,170	)
Excise taxes related to repurchases of common stock		—			—			—			(78	)		—			—			(78	)
Other		(3	)		(3	)		6			—			—			—			—
Balance April 29, 2023		812			13,052			308,817			318,538			(40,737	)		(17,857	)		582,625
Net loss		—			—			—			(31,665	)		—			—			(31,665	)
Other comprehensive income		—			—			—			—			2,705			—			2,705
Share-based compensation expense		—			—			4,153			—			—			—			4,153
Restricted stock issuance		—			40			(40	)		—			—			—			—
Shares repurchased		—			(1,006	)		—			(21,851	)		—			—			(22,857	)
Excise taxes related to repurchases of common stock		—			—			—			(185	)		—			—			(185	)
Restricted shares withheld for taxes		—			(72	)		72			(1,756	)		—			—			(1,756	)
Other		—			(18	)		17			—			—			—			(1	)
Balance July 29, 2023	$	812		$	11,996		$	313,019		$	263,081		$	(38,032	)	$	(17,857	)	$	533,019
	Non- Redeemable Preferred Stock			Common Stock			Additional Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Shares			Total Equity
Balance February 3, 2024	$	813		$	11,961		$	319,143		$	296,766		$	(39,624	)	$	(17,857	)	$	571,202
Net loss		—			—			—			(24,347	)		—			—			(24,347	)
Other comprehensive loss		—			—			—			—			(935	)		—			(935	)
Share-based compensation expense		—			—			3,307			—			—			—			3,307
Restricted stock issuance		—			198			(198	)		—			—			—			—
Restricted shares withheld for taxes		—			(29	)		29			(773	)		—			—			(773	)
Other		(1	)		(8	)		7			1			—			—			(1	)
Balance May 4, 2024		812			12,122			322,288			271,647			(40,559	)		(17,857	)		548,453
Net loss		—			—			—			(9,992	)		—			—			(9,992	)
Other comprehensive income		—			—			—			—			1,393			—			1,393
Share-based compensation expense		—			—			3,453			—			—			—			3,453
Restricted stock issuance		—			37			(37	)		—			—			—			—
Shares repurchased		—			(382	)		—			(8,967	)		—			—			(9,349	)
Excise taxes related to repurchases of common stock		—			—			—			(35	)		—			—			(35	)
Restricted shares withheld for taxes		—			(49	)		49			(1,301	)		—			—			(1,301	)
Other		—			(21	)		22			(1	)		—			—			—
Balance August 3, 2024	$	812		$	11,707		$	325,775		$	251,351		$	(39,166	)	$	(17,857	)	$	532,622

 

 

 

 

 

 

 

The accompanying Notes are an integral part of these Condensed Consolidated Financial Statements.

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As of August 3, 2024, we have $1.1 million of long-lived assets held and used which were measured using Level 3 inputs within the fair value hierarchy. As of August 3, 2024, we have $6.7 million of investments held and used which were measured using Level 1 inputs within the fair value hierarchy.

 

 

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

This section discusses management’s view of the financial condition, results of operations and cash flows of the Company. This section should be read in conjunction with the information contained in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024, including the Risk Factors section, and information contained elsewhere in this Quarterly Report on Form 10-Q, including the Condensed Consolidated Financial Statements and notes to those financial statements. The results of operations for any interim period may not necessarily be indicative of the results that may be expected for any future interim period or the entire fiscal year.

Summary of Results of Operations

Our net sales increased 0.4% to $525.2 million in the second quarter of Fiscal 2025 compared to $523.0 million in the second quarter of Fiscal 2024. The sales increase compared to last year's second quarter included approximately $20 million to $25 million due to the move of a strong week of back-to-school sales from the third quarter last year to the second quarter this year related to the 53-week calendar shift along with an 8% increase in e-commerce comparable sales, partially offset by a decline in comparable store sales, the impact of net store closings and decreased wholesale sales. The consumer environment remains choppy with consumers selective about what to buy and not buy and continuing to show a willingness to shop when there's a reason, like back-to-school, and shopping almost exclusively for key footwear items and brands. In addition, ongoing inflationary pressures continue to impact discretionary spending behavior. Journeys Group sales increased 4%, Schuh Group sales increased 1%, Johnston & Murphy Group sales decreased 9% and Genesco Brands Group sales decreased 13%, or an aggregate of $4.4 million for the second quarter of Fiscal 2025 compared to the second quarter of Fiscal 2024. Schuh's sales also increased 1% on a local currency basis for the second quarter of Fiscal 2025. Total comparable sales decreased 2% for the second quarter of Fiscal 2025, with same store sales down 4% and comparable e-commerce sales up 8%.

 

Gross margin decreased 1.6% to $245.6 million in the second quarter of Fiscal 2025 from $249.5 million in the second quarter of Fiscal 2024 and decreased as a percentage of net sales from 47.7% to 46.8% reflecting decreased gross margin as a percentage of net sales in all of our operating business units except Johnston & Murphy Group. The decreased gross margin as a percentage of net sales reflects primarily a higher mix of sale product at Schuh and a change in product mix at Journeys.

Selling and administrative expenses in the second quarter of Fiscal 2025 decreased 1.7% to $255.1 million from $259.5 million compared to the second quarter of Fiscal 2024, reflecting the impact of our cost savings initiatives, including net store closures. Selling and administrative expenses also decreased as a percentage of net sales in the second quarter of Fiscal 2025 compared to the second quarter of Fiscal 2024 from 49.6% to 48.6%, reflecting decreased expenses as a percentage of net sales in all of our operating business units except Johnston & Murphy Group. The overall decrease in expenses as a percentage of net sales reflects a decrease in occupancy expense, a favorable change in certain non-income taxes, decreased royalty expense and decreased performance-based compensation expense, partially offset by increased selling salaries and depreciation expense.

Operating margin was a loss of 2.0% in the second quarter of Fiscal 2025 compared to a loss of 7.4% in the second quarter of Fiscal 2024 reflecting improved operating margin at Journeys Group and Genesco Brands Group, partially offset by decreased operating margin at Schuh Group and Johnston & Murphy Group. The overall improvement in operating margin for the second quarter this year compared to the second quarter last year primarily reflects a non-cash goodwill impairment charge of $28.5 million in the second quarter of Fiscal 2024 as well as decreased expenses as a percentage of net sales, partially offset by decreased gross margin as a percentage of net sales.

The loss from continuing operations before income taxes (“pretax loss”) for the second quarter of Fiscal 2025 was $11.7 million compared to a pretax loss of $41.2 million for the second quarter of Fiscal 2024. The pretax loss for the second quarter of Fiscal 2025 included a $0.2 million charge for a distribution model transition in the Genesco Brands Group and asset impairment and other charges of $0.8 million for severance and asset impairments. The pretax loss for the second quarter of Fiscal 2024 included a non-cash goodwill impairment charge of $28.5 million and asset impairment and other charges of $0.2 million for asset impairments.

We had an effective income tax rate of 15.2% and 23.1% in the second quarter of Fiscal 2025 and Fiscal 2024, respectively. The lower tax rate for the second quarter this year compared to the second quarter last year reflects a reduction in the tax benefit recorded year to date due to lower projected earnings and taxes from our foreign jurisdictions.

The net loss in the second quarter of Fiscal 2025 was $10.0 million, or $0.91 diluted loss per share, compared to a net loss of $31.7 million, or $2.79 diluted loss per share, in the second quarter of Fiscal 2024.

Critical Accounting Estimates

We discuss our critical accounting estimates in Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations", in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024. We describe our significant accounting policies in Note 1, "Summary of Significant Accounting Policies", of the Notes to Consolidated Financial Statements included in our Annual Report on

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Form 10-K for the fiscal year ended February 3, 2024. There have been no other significant changes in our definition of significant accounting policies or critical accounting estimates since the end of Fiscal 2024.

Key Performance Indicators

In assessing the performance of our business, we consider a variety of performance and financial measures. The key performance indicators we use to evaluate the financial condition and operating performance of our business are comparable sales, net sales, gross margin, operating income and operating margin. These key performance indicators should not be considered superior to, as a substitute for or as an alternative to, and should be considered in conjunction with, the U.S. GAAP financial measures presented herein. These measures may not be comparable to similarly titled performance indicators used by other companies.

Comparable Sales

We consider comparable sales to be an important indicator of our current performance, and investors may find it useful as such. Comparable sales results are important to achieve leveraging of our costs, including occupancy, selling salaries, depreciation, etc. Comparable sales also have a direct impact on our total net revenue, working capital and cash. We define "comparable sales" as sales from stores open longer than one year, beginning with the first day a store has comparable sales (which we refer to as "same store sales"), and sales from websites operated longer than one year and direct mail catalog sales (which we refer to in this report as "comparable e-commerce sales"). Temporarily closed stores are excluded from the comparable sales calculation if closed for more than seven days. Expanded stores are excluded from the comparable sales calculation until the first day an expanded store has comparable prior year sales. Current year foreign exchange rates are applied to both current year and prior year comparable sales to achieve a consistent basis for comparison.

Results of Operations – Second Quarter of Fiscal 2025 Compared to Second Quarter of Fiscal 2024

 

Journeys Group

		Three Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	298,846			$	287,275				4.0	%
Operating loss		$	(11,151	)		$	(14,878	)			25.1	%
Operating margin			(3.7	)%			(5.2	)%

 

Net sales from Journeys Group increased 4.0% to $298.8 million in the second quarter of Fiscal 2025, compared to $287.3 million in the second quarter of Fiscal 2024. Net sales for the second quarter this year included approximately $19 million to $24 million due to the move of a strong week of back-to-school sales from the third quarter last year to the second quarter this year related to the 53-week calendar shift and an increase in e-commerce comparable sales, partially offset by decreased comparable store sales and a 6% decrease in the average number of stores in the second quarter this year. Total comparable sales for Journeys decreased 1% for the second quarter this year. We believe our teen customers' preference has shifted away from primarily vulcanized product in favor of a more diversified assortment. We added significant fresh product across casual and athletic brands and styles during the quarter. As a result, we saw an increase in store traffic that accelerated throughout the second quarter and drove a sequential improvement in Journeys Group comparable sales. We closed 12 Journeys Group stores in the second quarter of Fiscal 2025 and continue to evaluate up to 50 Journeys store closures in total in Fiscal 2025. Journeys Group operated 1,039 stores at the end of the second quarter of Fiscal 2025, including 220 Journeys Kidz stores, 39 Journeys stores in Canada and 31 Little Burgundy stores in Canada, compared to 1,095 stores at the end of the second quarter of last year, including 229 Journeys Kidz stores, 41 Journeys stores in Canada and 34 Little Burgundy stores in Canada.

Journeys Group had an operating loss of $11.2 million in the second quarter of Fiscal 2025 compared to an operating loss of $14.9 million in the second quarter of Fiscal 2024. The improvement in the operating loss for Journeys Group was due to (i) increased net sales and (ii) decreased selling and administrative expenses as a percentage of net sales reflecting a decrease in occupancy, marketing and compensation expenses as well as a favorable change in certain non-income taxes, partially offset by increased selling salaries. The decrease in selling and administrative expenses as a percentage of net sales demonstrates the impact of our cost savings initiatives and closing underperforming stores. Gross margin as a percentage of net sales decreased for the second quarter of Fiscal 2025, reflecting changes in product mix and increased shipping and warehouse expense as a result of increased e-commerce penetration, partially offset by decreased markdowns.

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Schuh Group

		Three Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	124,561			$	122,799				1.4	%
Operating income		$	7,339			$	8,416				(12.8	)%
Operating margin			5.9	%			6.9	%

 

Net sales from Schuh Group increased 1.4% to $124.6 million in the second quarter of Fiscal 2025 compared to $122.8 million in the second quarter of Fiscal 2024. Net sales for the second quarter this year included an increase in e-commerce comparable sales, approximately $2 million due to the move of a strong week of back-to-school sales from the third quarter last year to the second quarter this year related to the 53-week calendar shift and a favorable impact of $0.7 million due to changes in foreign exchange rates, partially offset by decreased comparable store sales. Total comparable sales for Schuh decreased 2% for the second quarter this year. Schuh continued to contend with a challenging U.K. macro environment in the second quarter this year and the consumer continued to be selective in their purchases. In addition, Schuh Group sales in the second quarter of Fiscal 2025 compares against strong sales growth in the second quarters of Fiscal 2024 and Fiscal 2023. Schuh's e-commerce business remains a key channel for consumer engagement, accounting for nearly 40% of its sales in the second quarter of Fiscal 2025. Schuh's sales increased 1% on a local currency basis for the second quarter of Fiscal 2025. Schuh Group operated 123 stores at the end of the second quarter of Fiscal 2025, compared to 124 stores at the end of the second quarter of Fiscal 2024.

Schuh Group had operating income of $7.3 million in the second quarter of Fiscal 2025 compared to $8.4 million in the second quarter of Fiscal 2024. The 12.8% decrease in operating income compared to last year reflects decreased gross margin as a percentage of net sales reflecting a more promotional environment at Schuh during the second quarter this year, partially offset by decreased shipping and warehouse expenses. Selling and administrative expenses decreased as a percentage of net sales, reflecting decreased performance-based compensation expense, occupancy expense and professional fees, partially offset by increased compensation expenses, selling salaries and depreciation expense. In addition, operating income included a favorable impact of $0.1 million due to changes in foreign exchange rates compared to last year.

Johnston & Murphy Group

		Three Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	71,037			$	77,785				(8.7	)%
Operating income (loss)		$	(403	)		$	2,666			NM
Operating margin			(0.6	)%			3.4	%

 

Johnston & Murphy Group net sales decreased 8.7% to $71.0 million for the second quarter of Fiscal 2025 from $77.8 million for the second quarter of Fiscal 2024, primarily due to a 5% decrease in comparable sales, reflecting decreased comparable store sales and comparable e-commerce sales, and decreased wholesale sales as well as a 4% decrease in the average number of stores in the second quarter this year. In addition, Johnston & Murphy Group sales in the second quarter of Fiscal 2025 compares against strong sales growth in the second quarters of Fiscal 2024 and Fiscal 2023. The softening in men's premium non-athletic footwear market made for a difficult operating environment in the second quarter. Consumers are very selective with their spend on premium priced product. The brand's apparel and accessories continue to resonate well with its consumers and Johnston & Murphy intends to continue to capitalize on opportunities beyond footwear. Retail operations accounted for 80.5% of Johnston & Murphy Group's sales in the second quarter of Fiscal 2025, down from 81.2% in the second quarter of Fiscal 2024. The store count for Johnston & Murphy retail operations at the end of the second quarter of Fiscal 2025 was 152 stores, including five stores in Canada, compared to 156 stores, including six stores in Canada, at the end of the second quarter of Fiscal 2024.

Johnston & Murphy Group had an operating loss of $0.4 million for the second quarter of Fiscal 2025 compared to operating income of $2.7 million in the second quarter of Fiscal 2024. The decrease in operating income compared to last year reflects decreased net sales and increased selling and administrative expenses as a percentage of net sales for the second quarter of Fiscal 2025 reflecting the deleverage of expenses, especially selling salaries and compensation expense in part as a result of decreased revenue in the second quarter of Fiscal 2025 and increased marketing expense as a result of a new marketing campaign, partially offset by decreased performance-based compensation. Gross margin as a percentage of net sales increased for the second quarter of Fiscal 2025, reflecting a comparison against increased inventory reserves last year, partially offset by higher retail markdowns and a lower mix of direct-to-consumer sales volume.

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Genesco Brands Group

		Three Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	30,744			$	35,168				(12.6	)%
Operating income		$	2,672			$	1,851				44.4	%
Operating margin			8.7	%			5.3	%

 

Genesco Brands' net sales decreased 12.6% to $30.7 million for the second quarter of Fiscal 2025 from $35.2 million for the second quarter of Fiscal 2024 due primarily to the repositioning of the business to a more refined portfolio of licenses, partially offset by increased sales of Dockers footwear.

 

Genesco Brands' operating income was $2.7 million in the second quarter of Fiscal 2025 compared to $1.9 million in the second quarter of Fiscal 2024. The 44.4% increase in operating income was primarily due to decreased selling and administrative expenses as a percentage of net sales in the second quarter of Fiscal 2025 reflecting decreased royalty and marketing expenses as a result of an amendment to the Levi's license agreement, partially offset by increased performance-based compensation expense, warehouse and freight costs, compensation expense and depreciation expense. Gross margin decreased as a percentage of net sales reflecting primarily a channel sales mix shift.

Corporate, Interest Expenses and Other Charges

Corporate and other expense for the second quarter of Fiscal 2025 was $8.7 million compared to $36.7 million for the second quarter of Fiscal 2024. Corporate expense in the second quarter of Fiscal 2025 included a $0.8 million charge in asset impairment and other charges for severance and asset impairments. Corporate expense in the second quarter of Fiscal 2024 included non-cash impairment charges of $28.5 million related to goodwill and a $0.2 million charge in asset impairment and other charges for asset impairments. Corporate expenses were basically flat for the second quarter of Fiscal 2025 compared to the second quarter of Fiscal 2024, excluding asset impairment and other charges in Fiscal 2025 and Fiscal 2024 and goodwill impairment in Fiscal 2024.

Net interest expense decreased 43.6% to $1.3 million in the second quarter of Fiscal 2025 compared to $2.4 million in the second quarter of Fiscal 2024 primarily reflecting decreased average borrowings in the second quarter this year compared to the second quarter last year.

Results of Operations – First Six Months of Fiscal 2025 Compared to First Six Months of Fiscal 2024

Our net sales decreased 2.3% to $982.8 million in the first six months of Fiscal 2025 compared to $1.006 billion in the first six months of Fiscal 2024. The sales decrease compared to last year's first six months was driven by decreased comparable store sales, decreased wholesale sales and the impact of net store closings, partially offset by the inclusion this year of approximately $30 million to $35 million in sales due to the calendar shift because Fiscal 2024 was a 53-week year, a 6% increase in e-commerce comparable sales and a favorable impact of $2.6 million in sales due to foreign exchange rates. Journeys Group sales and Schuh Group sales were flat for the first six months while Johnston & Murphy Group sales decreased 6% and Genesco Brands Group sales decreased 19%, or an aggregate of $13.2 million for the first six months of Fiscal 2025 compared to the first six months of Fiscal 2024. Schuh's sales decreased 1% on a local currency basis for the first six months of Fiscal 2025. Total comparable sales decreased 3% for the first six months of Fiscal 2025, with same store sales down 6% and comparable e-commerce sales up 6%.

 

Gross margin decreased 3.4% to $461.9 million in the first six months of Fiscal 2025 from $478.3 million in the first six months of Fiscal 2024 and decreased as a percentage of net sales from 47.5% to 47.0% reflecting decreased gross margin as a percentage of net sales in all business units except Johnston & Murphy Group. The decreased gross margin as a percentage of net sales reflects primarily a higher mix of sale product at Schuh, partially offset by an overall change in sales mix.

Selling and administrative expenses in the first six months of Fiscal 2025 decreased 1.6% to $503.0 million from $511.0 million compared to the first six months of Fiscal 2024, reflecting the impact of our cost savings initiatives, including net store closures. Selling and administrative expenses increased as a percentage of net sales in the first six months of Fiscal 2025 compared to the first six months of Fiscal 2024 from 50.8% to 51.2%, reflecting increased expenses as a percentage of net sales at Schuh Group and Johnston & Murphy Group, partially offset by decreased expenses as a percentage of sales at Journeys Group and Genesco Brands Group. The overall increase in expenses as a percentage of net sales reflects increased selling salaries, depreciation expense and professional fees, partially offset by decreased royalty expense and a favorable change in certain non-income taxes.

 

Operating margin was a loss of 4.3% in the first six months of Fiscal 2025 compared to a loss of 6.1% in the first six months of Fiscal 2024 reflecting improved operating margin at Journeys Group and Genesco Brands Group, partially offset by decreased operating margin at Schuh Group and Johnston & Murphy Group. The overall improvement in operating margin for the first six months this year compared to the first six months last year is primarily reflects a non-cash goodwill impairment charge of $28.5 million in the second quarter of Fiscal 2024, partially offset

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by decreased gross margin as a percentage of net sales and increased selling and administrative expenses as a percentage of net sales in the first six months of Fiscal 2025 compared to the first six months of Fiscal 2024.

The pretax loss for the first six months of Fiscal 2025 was $44.8 million compared to a pretax loss of $65.9 million for the first six months of Fiscal 2024. The pretax loss for the first six months of Fiscal 2025 included a $1.8 million charge for a distribution model transition in the Genesco Brands Group and asset impairment and other charges of $1.4 million for severance and asset impairments. The pretax loss for the first six months of Fiscal 2024 included a non-cash goodwill impairment charge of $28.5 million and asset impairment and other charges of $0.5 million for asset impairments.

We had an effective income tax rate of 23.7% and 23.4% in the first six months of Fiscal 2025 and Fiscal 2024, respectively.

The net loss in the first six months of Fiscal 2025 was $34.3 million, or $3.14 diluted loss per share, compared to a net loss of $50.6 million, or $4.37 diluted loss per share, in the first six months of Fiscal 2024.

 

Journeys Group

		Six Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	558,291			$	559,465				(0.2	)%
Operating loss		$	(29,973	)		$	(33,240	)			9.8	%
Operating margin			(5.4	)%			(5.9	)%

 

Net sales from Journeys Group decreased 0.2% to $558.3 million in the first six months of Fiscal 2025, compared to $559.5 million in the first six months of Fiscal 2024. Net sales for the first six months this year included approximately $25 million to $29 million due to the calendar shift because Fiscal 2024 was a 53-week year. Journeys total comparable sales decreased 3%, with a decrease in comparable store sales, partially offset by increased e-commerce comparable sales. In addition, the average number of Journeys stores decreased 6% in the first six months this year. We believe our teen customers' preference has shifted away from primarily vulcanized product in favor of a more diversified assortment. We added a significant amount of fresh product to our assortment in the later part of our first six months and store traffic has increased as a result and drove a sequential improvement in Journeys Group comparable sales. We closed 29 Journeys Group stores in the first six months of Fiscal 2025 and continue to evaluate up to 50 Journeys store closures in total in Fiscal 2025.

Journeys Group had an operating loss of $30.0 million in the first six months of Fiscal 2025 compared to an operating loss of $33.2 million in the first six months of Fiscal 2024. The improvement in the operating loss for Journeys Group was due to decreased selling and administrative expenses as a percentage of net sales reflecting a decrease in occupancy, compensation and marketing expenses, partially offset by increased selling salaries and depreciation expense. The decrease in selling and administrative expenses, in both absolute dollars and as a percentage of sales, demonstrates the impact of our cost savings initiatives and closing underperforming stores. Gross margin as a percentage of net sales decreased for the first six months of Fiscal 2025, reflecting changes in product mix and increased shipping and warehouse expense as a result of increased e-commerce penetration, partially offset by decreased markdowns.

 

Schuh Group

		Six Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	216,910			$	215,904				0.5	%
Operating income		$	1,443			$	6,626				(78.2	)%
Operating margin			0.7	%			3.1	%

 

Net sales from Schuh Group increased 0.5% to $216.9 million in the first six months of Fiscal 2025 compared to $215.9 million in the first six months of Fiscal 2024. Net sales for the first six months this year included approximately $4 million to $5 million due to the calendar shift because Fiscal 2024 was a 53-week year, a favorable impact of $3.3 million due to changes in foreign exchange rates and increased e-commerce comparable sales, partially offset by decreased comparable store sales. Total comparable sales for Schuh decreased 4% for the first six months this year. Schuh continued to contend with a challenging U.K. macro environment in the first six months this year and the consumer continues to be selective in their purchases. In addition, Schuh Group sales in the first six months of Fiscal 2025 compares against strong sales growth in

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the first six months of Fiscal 2024. Schuh's e-commerce business remains a key channel for consumer engagement, accounting for nearly 40% of its sales in the first six months of Fiscal 2025. Schuh's sales decreased 1% on a local currency basis for the first six months of Fiscal 2025.

Schuh Group had operating income of $1.4 million in the first six months of Fiscal 2025 compared to $6.6 million in the first six months of Fiscal 2024. The decrease in operating income compared to last year reflects decreased gross margin as a percentage of net sales reflecting a more promotional environment at Schuh during the first six months this year, partially offset by decreased shipping and warehouse expenses. Selling and administrative expenses increased as a percentage of net sales, reflecting increased compensation expense, selling salaries, marketing and depreciation expenses, partially offset by decreased occupancy and performance-based compensation expenses. In addition, operating income included an unfavorable impact of $0.1 million due to changes in foreign exchange rates compared to last year.

 

Johnston & Murphy Group

		Six Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	150,244			$	160,412				(6.3	)%
Operating income		$	1,952			$	7,472				(73.9	)%
Operating margin			1.3	%			4.7	%

 

Johnston & Murphy Group net sales decreased 6.3% to $150.2 million for the first six months of Fiscal 2025 from $160.4 million for the first six months of Fiscal 2024, primarily due to a 4% decrease in comparable sales, reflecting decreased comparable store sales and comparable e-commerce sales, and decreased wholesale sales as well as a 3% decrease in the average number of stores in the first six months this year. In addition, Johnston & Murphy Group sales in the first six months of Fiscal 2025 compares against strong sales growth in the first six months of Fiscal 2024. The softening in men's premium, non-athletic, footwear market made for a difficult operating environment in the first six months this year. Consumers are very selective with their spend on premium priced product. Retail operations accounted for 77.1% of Johnston & Murphy Group's sales in the first six months of Fiscal 2025, up slightly from 77.0% in the first six months of Fiscal 2024.

Johnston & Murphy Group had operating income of $2.0 million for the first six months of Fiscal 2025 compared to $7.5 million in the first six months of Fiscal 2024. The decrease in operating income compared to last year reflects decreased net sales and increased selling and administrative expenses as a percentage of net sales for the first six months of Fiscal 2025, reflecting the deleverage of expenses, especially selling salaries, compensation and occupancy expenses in part as a result of decreased revenue and increased marketing expense as a result of a new marketing campaign in the first six months of Fiscal 2025, partially offset by decreased performance-based compensation expense. Gross margin as a percentage of net sales increased for the first six months of Fiscal 2025, primarily reflecting lower warehouse costs.

 

Genesco Brands Group

		Six Months Ended
		August 3, 2024				July 29, 2023				% Change
		(dollars in thousands)
Net sales		$	57,340			$	70,578				(18.8	)%
Operating income		$	1,686			$	1,819				(7.3	)%
Operating margin			2.9	%			2.6	%

 

Genesco Brands' net sales decreased 18.8% to $57.3 million for the first six months of Fiscal 2025 from $70.6 million for the first six months of Fiscal 2024 due primarily to the repositioning of the business to a more refined portfolio of licenses, partially offset by increased sales of Dockers footwear.

 

Genesco Brands' operating income was $1.7 million in the first six months of Fiscal 2025 compared to $1.8 million in the first six months of Fiscal 2024. The 7.3% decrease in operating income was primarily due to decreased net sales and decreased gross margin as a percentage of net sales reflecting a $1.8 million inventory provision for a distribution model transition, partially offset by a favorable brand sales mix shift. Selling and administrative expenses decreased as a percentage of net sales in the first six months of Fiscal 2025 reflecting decreased royalty and marketing expenses as a result of an amendment to the Levi's license agreement and decreased bad debt expenses, partially offset by increased performance-based compensation expense, compensation expense and depreciation expense.

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Corporate, Interest Expenses and Other Charges

Corporate and other expense for the first six months of Fiscal 2025 was $17.5 million compared to $44.3 million for the first six months of Fiscal 2024. Corporate expense in the first six months of Fiscal 2025 included a $1.4 million charge in asset impairment and other charges for severance and asset impairments. Corporate expense in the first six months of Fiscal 2024 included non-cash impairment charges of $28.5 million related to goodwill and a $0.5 million charge in asset impairment and other charges for asset impairments. The corporate expense increase, excluding asset impairment and other charges in Fiscal 2025 and Fiscal 2024 and goodwill impairment in Fiscal 2024, primarily reflects an increase in professional fees and compensation expense, partially offset by decreased performance-based compensation expense in the first six months this year compared to the first six months last year.

Net interest expense decreased 44.6% to $2.2 million in the first six months of Fiscal 2025 compared to $4.0 million in the first six months of Fiscal 2024 primarily reflecting decreased average borrowings in the first six months this year compared to the first six months last year.

Liquidity and Capital Resources

Working Capital

Our business is seasonal, with our investment in working capital normally reaching peaks in the summer and fall of each year in anticipation of the back-to-school and holiday selling seasons. Historically, cash flows from operations typically have been generated principally in the fourth quarter of each fiscal year.

 

		Six Months Ended
Cash flow changes:		August 3, 2024				July 29, 2023				Increase (Decrease)
(in thousands)
Net cash used in operating activities		$	(6,029	)		$	(25,135	)		$	19,106
Net cash used in investing activities			(14,274	)			(35,211	)			20,937
Net cash provided by financing activities			30,922				49,108				(18,186	)
Effect of foreign exchange rate fluctuations on cash			81				664				(583	)
Net increase (decrease) in cash		$	10,700			$	(10,574	)		$	21,274

 

Reasons for the major variances in cash provided by (used in) the table above are as follows:

Cash used in operating activities was $19.1 million lower in the first six months of Fiscal 2025 compared to the first six months of Fiscal 2024, reflecting primarily the following factors:

 

Cash used in investing activities was $20.9 million lower for the first six months of Fiscal 2025 as compared to the first six months of Fiscal 2024 reflecting decreased capital expenditures primarily related to omni-channel capabilities and investments in retail stores.

 

Cash provided by financing activities was $18.2 million lower in the first six months of Fiscal 2025 as compared to the first six months of Fiscal 2024 reflecting decreased net borrowings partially offset by decreased share repurchases this year compared to the same period last year.

Sources of Liquidity and Future Capital Needs

We have three principal sources of liquidity: cash flow from operations, cash on hand and our credit facilities discussed in Item 8, Note 8, "Long-Term Debt", to our Consolidated Financial Statements included in our Annual Report on Form 10-K for Fiscal 2024.

As of August 3, 2024, we have borrowed $75.1 million U.S. revolver borrowings and $2.7 million (C$3.8 million) related to GCO Canada ULC. We were in compliance with all the relevant terms and conditions of the Credit Facility and the Facility Agreement as of August 3, 2024.

We believe that cash on hand, cash provided by operations and borrowings under our Credit Facility and the Facility Agreement will be sufficient to support our liquidity needs in Fiscal 2025 and the foreseeable future.

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In the fourth quarter of Fiscal 2021, we implemented tax strategies allowed under the 5-year carryback provisions in the CARES Act which we believe will generate approximately $55 million of net tax refunds. We received approximately $26 million of such net tax refunds in Fiscal 2022 and anticipated receipt of the remaining outstanding net tax refund in Fiscal 2023. However, in the third quarter of Fiscal 2023, we were notified the IRS would conduct an audit of the periods related to the outstanding net tax refund. While we do not believe any uncertainty with the technical merits of the positions generating the net tax refunds exists, we do anticipate the timing of the net tax refund will be extended as a result of the audit process. Accordingly, we have recorded the outstanding refund to non-current prepaid income taxes on the Condensed Consolidated Balance Sheets as of August 3, 2024.

Contractual Obligations

Our contractual obligations at August 3, 2024 decreased 1% compared to February 3, 2024, primarily due to decreased lease obligations and purchase obligations, partially offset by increased long-term debt.

Capital Expenditures

Total capital expenditures in Fiscal 2025 are expected to be approximately $52 million to $57 million of which approximately 63% is for new stores and remodels and 37% is for computer hardware, software and warehouse enhancements for initiatives to drive traffic and omni-channel capabilities. We do not currently have any longer-term capital expenditures or other cash requirements other than as set forth above and in the contractual obligations table as disclosed in Item 7 of our Fiscal 2024 Form 10-K. We also do not currently have any off-balance sheet arrangements.

Common Stock Repurchases

We repurchased 381,711 shares during the second quarter and first six months of Fiscal 2025 at a cost of $9.3 million, or $24.49 per share. We have $42.8 million remaining as of August 3, 2024 under our expanded share repurchase authorization announced in June 2023. In addition, we recorded an accrual for excise tax on stock repurchases of less than $0.1 million in other accrued liabilities in our condensed consolidated balance sheets as of August 3, 2024. We repurchased 1,006,295 shares during the second quarter of Fiscal 2024 at a cost of $22.9 million, or $22.71 per share, and repurchased 1,261,295 shares during the first six months of Fiscal 2024 at a cost of $32.0 million, or $25.39 per share.

During the third quarter of Fiscal 2025, through September 11, 2024, we have not repurchased any shares.

Environmental and Other Contingencies

We are subject to certain loss contingencies related to environmental proceedings and other legal matters, including those disclosed in Item 1, Note 7, "Legal Proceedings", to our Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

New Accounting Pronouncements

Descriptions of recently issued accounting pronouncements, if any, and the accounting pronouncements adopted by us during the second quarter of Fiscal 2025 are included in Note 1 to our Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

 

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Item 3. Quantitative and Qualitative Disclosures about Market Risk

We incorporate by reference the information regarding market risk appearing in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” under the heading “Financial Market Risk” in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024. There have been no material changes to our exposure to market risks from those disclosed in the Form 10-K.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We have established disclosure controls and procedures designed to ensure that information required to be disclosed by us, including our consolidated subsidiaries, in the reports we file or submit under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is made known to the officers who certify our financial reports and to other members of senior management. Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving desired objectives.

Based on their evaluation as of August 3, 2024, the principal executive officer and principal financial officer of the Company have concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Exchange Act) were effective to ensure that the information required to be disclosed by us in the reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within time periods specified in SEC rules and forms and (ii) accumulated and communicated to our management, including our principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during our second quarter of Fiscal 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We incorporate by reference the information regarding legal proceedings in Item 1, Note 7, “Legal Proceedings”, to our Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

Item 1A. Risk Factors

You should carefully consider the risk factors discussed in Part I, “Item 1A. Risk Factors” in the Annual Report on Form 10-K for the fiscal year ended February 3, 2024, which could materially affect our business, financial condition or future results. The risks described in this report, and in our Annual Report are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

Repurchases (shown in thousands except share and per share amounts):

 

ISSUER PURCHASES OF EQUITY SECURITIES
Period		(a) Total Number of Shares Purchased				(b) Average Price Paid per Share				(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs				(d) Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs
May 2024
5-5-24 to 6-1-24(1)			7,700			$	24.90				7,700			$	51,917
June 2024
6-2-24 to 6-29-24(1)			180,853			$	24.63				180,853			$	47,463
July 2024
6-30-24 to 8-3-24 (1)			193,158			$	24.35				193,158			$	42,760
6-30-24 to 8-3-24 (2)			49,199			$	26.45				—				—
Total			430,910			$	24.72				381,711			$	42,760
(1) Share repurchases were made pursuant to a $100.0 million share repurchase program approved by the Board of Directors and announced in February 2022, and in June 2023, the Board of Directors approved an additional $50.0 million for share repurchases. We expect to implement the balance of the repurchase program through purchases made from time to time either in the open market or through private transactions, in accordance with the regulations of the SEC and other applicable legal requirements.
(2) These shares represent shares withheld from vested restricted stock to satisfy the minimum withholding requirement for federal and state taxes.

 

Item 5. Other Information

 

(c) During the second quarter of Fiscal 2025, no director or Section 16 officer of the Company adopted or terminated any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements (in each case, as defined in Item 408 (a) of Regulation S-K).

 

---

Item 6. Exhibits

 

Exhibit Index
(31.1)		Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
(31.2)		Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
(32.1)		Certification of the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(32.2)		Certification of the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101		The following materials from Genesco Inc.'s Quarterly Report on Form 10-Q for the quarter ended August 3, 2024, formatted in Inline XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets at August 3, 2024, February 3, 2024 and July 29, 2023, (ii) Condensed Consolidated Statements of Operations for each of the three and six months ended August 3, 2024 and July 29, 2023, (iii) Condensed Consolidated Statements of Comprehensive Loss for each of the three and six months ended August 3, 2024 and July 29, 2023, (iv) Condensed Consolidated Statements of Cash Flows for each of the three and six months ended August 3, 2024 and July 29, 2023, (v) Condensed Consolidated Statements of Equity for each of the three and six months ended August 3, 2024 and July 29, 2023, and (vi) Notes to the Condensed Consolidated Financial Statements.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

 

---

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	Genesco Inc.
	By:			/s/ Thomas A. George
				Thomas A. George
				Senior Vice President - Finance and Chief Financial Officer

 

Date: September 12, 2024

 

---

Exhibit 31.1

 

CERTIFICATIONS

I, Mimi E. Vaughn, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Genesco Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: September 12, 2024

 

/s/ Mimi E. Vaughn

Mimi E. Vaughn

Chief Executive Officer

 

---

Exhibit 31.2

 

CERTIFICATIONS

I, Thomas A. George, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Genesco Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: September 12, 2024

 

/s/ Thomas A. George

Thomas A. George

Senior Vice President - Finance and Chief Financial Officer

 

---

 

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Genesco Inc. (the “Company”) on Form 10-Q for the period ending August 3, 2024, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Mimi E. Vaughn, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Mimi E. Vaughn

Mimi E. Vaughn

Chief Executive Officer

September 12, 2024

 

---

 

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Genesco Inc. (the “Company”) on Form 10-Q for the period ending August 3, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Thomas A. George, Senior Vice President - Finance and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Thomas A. George

Thomas A. George

Senior Vice President - Finance and Chief Financial Officer

September 12, 2024

 

---

v3.24.2.u1

Cover Page - shares	6 Months Ended
	Aug. 03, 2024	Aug. 30, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 03, 2024
Document Transition Report	false
Entity File Number	1-3083
Entity Registrant Name	Genesco Inc
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-0211340
Entity Address, Address Line One	535 Marriott Drive
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37214
City Area Code	615
Local Phone Number	367-7000
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	GCO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		11,221,864
Entity Central Index Key	0000018498
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--02-01

v3.24.2.u1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 03, 2024		Feb. 03, 2024	Jul. 29, 2023
Current Assets:
Cash	$ 45,855		$ 35,155	$ 37,416
Accounts receivable, net of allowances of $2,409 at August 3, 2024, $4,266 at February 3, 2024 and $4,536 at July 29, 2023	57,497		53,618	50,351
Inventories	450,187		378,967	491,118
Prepaids and other current assets	53,181		39,611	45,983
Total current assets	606,720		507,351	624,868
Property and equipment, net	229,116		240,266	244,090
Operating lease right of use assets	402,715		436,896	476,715
Non-current prepaid income taxes	58,051		56,839	55,028
Goodwill	9,284		9,565	9,717
Other intangibles	27,162		27,250	27,952
Deferred income taxes	25,287		26,230	30,623
Other noncurrent assets	25,416		25,493	25,766
Total Assets	1,383,751	[1]	1,329,890	1,494,759	[2]
Current Liabilities:
Accounts payable	187,439		114,621	166,504
Current portion - operating lease liabilities	122,527		129,189	137,369
Other accrued liabilities	85,697		75,727	78,707
Total current liabilities	395,663		319,537	382,580
Long-term debt	77,839		34,682	131,544
Long-term operating lease liabilities	329,773		359,073	403,413
Other long-term liabilities	47,854		45,396	44,203
Total liabilities	851,129		758,688	961,740
Commitments and contingent liabilities
Equity
Non-redeemable preferred stock	812		813	812
Common equity:
Common stock, $1 par value: Authorized; 80,000,000 shares Issued common stock	11,707		11,961	11,996
Additional paid-in capital	325,775		319,143	313,019
Retained earnings	251,351		296,766	263,081
Accumulated other comprehensive loss	(39,166)		(39,624)	(38,032)
Treasury shares, at cost (488,464 shares)	(17,857)		(17,857)	(17,857)
Total equity	532,622		571,202	533,019
Total Liabilities and Equity	$ 1,383,751		$ 1,329,890	$ 1,494,759
[1] Of our $631.8 million of long-lived assets, $92.1 million and $11.0 million relate to long-lived assets in the U.K. and Canada, respectively. [2] Of our $720.8 million of long-lived assets, $94.4 million and $14.7 million relate to long-lived assets in the U.K. and Canada, respectively.

v3.24.2.u1

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Current Assets:
Allowances on accounts receivable	$ 2,409	$ 4,266	$ 4,536
Common equity:
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, shares authorized (in shares)	80,000,000	80,000,000	80,000,000
Treasury Stock, Shares	488,464	488,464	488,464

v3.24.2.u1

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024		Jul. 29, 2023		Aug. 03, 2024		Jul. 29, 2023
Income Statement [Abstract]
Net sales	$ 525,188	[1]	$ 523,027	[2]	$ 982,785	[3]	$ 1,006,359	[4]
Cost of sales	279,549		273,507		520,865		528,031
Gross margin	245,639		249,520		461,920		478,328
Selling and administrative expenses	255,135		259,520		502,966		511,017
Goodwill impairment	0		28,453	[5]	0		28,453	[6]
Asset impairments and other, net	778	[7]	174	[7]	1,356	[8]	482	[9]
Operating loss	(10,274)		(38,627)		(42,402)		(61,624)
Other components of net periodic benefit cost	86		148		195		240
Interest expense, net	1,345		2,383		2,235		4,034
Loss from continuing operations before income taxes	(11,705)		(41,158)		(44,832)		(65,898)
Income tax benefit	(1,776)		(9,526)		(10,615)		(15,391)
Loss from continuing operations	(9,929)		(31,632)		(34,217)		(50,507)
Loss from discontinued operations, net of tax	(63)		(33)		(122)		(48)
Net Loss	$ (9,992)		$ (31,665)		$ (34,339)		$ (50,555)
Basic loss per common share:
Continuing operations (in dollars per share)	$ (0.91)		$ (2.79)		$ (3.13)		$ (4.36)
Discontinued operations (in dollars per share)	0		0		(0.01)		(0.01)
Net loss (in dollars per share)	(0.91)		(2.79)		(3.14)		(4.37)
Diluted loss per common share:
Continuing operations (in dollars per share)	(0.91)		(2.79)		(3.13)		(4.36)
Discontinued operations (in dollars per share)	0		0		(0.01)		(0.01)
Net loss (in dollars per share)	$ (0.91)		$ (2.79)		$ (3.14)		$ (4.37)
Weighted average shares outstanding:
Basic (in shares)	10,942		11,344		10,936		11,581
Diluted (in shares)	10,942		11,344		10,936		11,581
[1] Net sales in North America and in the U.K., which includes the ROI, accounted for 76% and 24%, respectively, of our net sales in the second quarter of Fiscal 2025 [2] Net sales in North America and in the U.K., which includes the ROI, accounted for 77% and 23%, respectively, of our net sales for the second quarter of Fiscal 2024. [3] Net sales in North America and in the U.K., which includes the ROI, accounted for 78% and 22%, respectively, of our net sales in the first six months of Fiscal 2025. [4] Net sales in North America and in the U.K., which includes the ROI, accounted for 79% and 21%, respectively, of our net sales for the first six months of Fiscal 2024. [5] Goodwill impairment of $28.5 million is related to Genesco Brand Group. [6] Goodwill impairment of $28.5 million is related to Genesco Brand Group. [7] Asset impairments and other includes a $0.1 million charge for asset impairments in Journeys Group and $0.7 million for severance. [8] Asset impairments and other includes a $0.4 million charge for asset impairments in Journeys Group and $1.0 million for severance. [9] Asset impairments and other includes a $0.5 million charge for asset impairments in Journeys Group.

v3.24.2.u1

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (9,992)	$ (31,665)	$ (34,339)	$ (50,555)
Other comprehensive income:
Postretirement liability adjustments, net of tax	21	62	59	91
Foreign currency translation adjustments	1,372	2,643	399	3,088
Total other comprehensive income	1,393	2,705	458	3,179
Comprehensive Loss	$ (8,599)	$ (28,960)	$ (33,881)	$ (47,376)

v3.24.2.u1

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (34,339)	$ (50,555)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	26,406	23,119
Deferred income taxes	1,535	(1,576)
Goodwill impairment	0	28,453	[1]
Impairment of long-lived assets	360	482
Share-based compensation expense	6,760	7,925
Other	204	686
Changes in working capital and other assets and liabilities:
Accounts receivable	(3,619)	(9,623)
Inventories	(70,873)	(30,237)
Prepaids and other current assets	(13,492)	(19,901)
Accounts payable	73,636	23,394
Other accrued liabilities	9,032	(1,076)
Other assets and liabilities	(1,639)	3,774
Net cash used in operating activities	(6,029)	(25,135)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(14,274)	(35,298)
Proceeds from asset sales	0	87
Net cash used in investing activities	(14,274)	(35,211)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facility	197,610	244,452
Payments on revolving credit facility	(154,376)	(158,405)
Shares repurchased related to share repurchase plan	(9,349)	(32,027)
Shares repurchased related to taxes for share-based awards	(2,074)	(2,205)
Change in overdraft balances	(889)	(2,707)
Net cash provided by financing activities	30,922	49,108
Effect of foreign exchange rate fluctuations on cash	81	664
Net increase (decrease) in cash	10,700	(10,574)
Cash at beginning of period	35,155	47,990
Cash at end of period	45,855	37,416
Supplemental information:
Interest paid	1,995	3,380
Income taxes paid	$ 1,581	$ 3,813
[1] Goodwill impairment of $28.5 million is related to Genesco Brand Group.

v3.24.2.u1

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Non-Redeemable Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Shares
Beginning balance at Jan. 28, 2023	$ 606,966	$ 815	$ 13,089	$ 305,260	$ 346,870	$ (41,211)	$ (17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(18,890)				(18,890)
Other comprehensive income	474					474
Share-based compensation expense	3,772			3,772
Restricted stock issuance			234	(234)
Restricted shares withheld for taxes	(449)		(13)	13	(449)
Shares repurchased	(9,170)		(255)		(8,915)
Excise taxes related to repurchases of common stock	(78)				(78)
Other		(3)	(3)	6
Ending balance at Apr. 29, 2023	582,625	812	13,052	308,817	318,538	(40,737)	(17,857)
Beginning balance at Jan. 28, 2023	606,966	815	13,089	305,260	346,870	(41,211)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(50,555)
Other comprehensive income	3,179
Shares repurchased	(32,000)
Ending balance at Jul. 29, 2023	533,019	812	11,996	313,019	263,081	(38,032)	(17,857)
Beginning balance at Apr. 29, 2023	582,625	812	13,052	308,817	318,538	(40,737)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(31,665)				(31,665)
Other comprehensive income	2,705					2,705
Share-based compensation expense	4,153			4,153
Restricted stock issuance			40	(40)
Restricted shares withheld for taxes	(1,756)		(72)	72	(1,756)
Shares repurchased	(22,857)		(1,006)		(21,851)
Excise taxes related to repurchases of common stock	(185)				(185)
Other	(1)		(18)	17
Ending balance at Jul. 29, 2023	533,019	812	11,996	313,019	263,081	(38,032)	(17,857)
Beginning balance at Feb. 03, 2024	571,202	813	11,961	319,143	296,766	(39,624)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(24,347)				(24,347)
Other comprehensive income	(935)					(935)
Share-based compensation expense	3,307			3,307
Restricted stock issuance			198	(198)
Restricted shares withheld for taxes	(773)		(29)	29	(773)
Other	(1)	(1)	(8)	7	1
Ending balance at May. 04, 2024	548,453	812	12,122	322,288	271,647	(40,559)	(17,857)
Beginning balance at Feb. 03, 2024	571,202	813	11,961	319,143	296,766	(39,624)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(34,339)
Other comprehensive income	458
Shares repurchased	(9,300)
Ending balance at Aug. 03, 2024	532,622	812	11,707	325,775	251,351	(39,166)	(17,857)
Beginning balance at May. 04, 2024	548,453	812	12,122	322,288	271,647	(40,559)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(9,992)				(9,992)
Other comprehensive income	1,393					1,393
Share-based compensation expense	3,453			3,453
Restricted stock issuance			37	(37)
Restricted shares withheld for taxes	(1,301)		(49)	49	(1,301)
Shares repurchased	(9,349)		(382)		(8,967)
Excise taxes related to repurchases of common stock	(35)				(35)
Other			(21)	22	(1)
Ending balance at Aug. 03, 2024	$ 532,622	$ 812	$ 11,707	$ 325,775	$ 251,351	$ (39,166)	$ (17,857)

v3.24.2.u1

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024	May 04, 2024	Jul. 29, 2023	Apr. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (9,992)	$ (24,347)	$ (31,665)	$ (18,890)	$ (34,339)	$ (50,555)

v3.24.2.u1

Insider Trading Arrangements	3 Months Ended
	Aug. 03, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

v3.24.2.u1

Summary of Significant Accounting Policies	6 Months Ended
	Aug. 03, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 Summary of Significant Accounting Policies Basis of Presentation These Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and Notes for Fiscal 2024, which are contained in our Annual Report on Form 10-K as filed with the SEC on March 27, 2024. The Condensed Consolidated Financial Statements and Notes contained in this report are unaudited but reflect all adjustments, including normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending February 1, 2025 ("Fiscal 2025"), which is a 52-week year, and of the fiscal year ended February 3, 2024 ("Fiscal 2024"), which was a 53-week year. All subsidiaries are consolidated in the Condensed Consolidated Financial Statements. All significant intercompany transactions and accounts have been eliminated. The results of operations for any interim period are not necessarily indicative of results for the full year. The Condensed Consolidated Financial Statements and the related Notes have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by U.S. Generally Accepted Accounting Principles (“GAAP”) for complete financial statements. The Condensed Consolidated Balance Sheet as of February 3, 2024 has been derived from the audited financial statements at that date. Nature of Operations Genesco Inc. and its subsidiaries (collectively the "Company", "Genesco," "we", "our", or "us") business includes the sourcing and design, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys®, Journeys Kidz®, Little Burgundy® and Johnston & Murphy® banners and under the Schuh® banner in the United Kingdom (“U.K.”) and the Republic of Ireland (“ROI”); through e-commerce websites including the following: journeys.com, journeyskidz.com, journeys.ca, littleburgundyshoes.com, schuh.co.uk, schuh.ie, schuh.eu, johnstonmurphy.com, johnstonmurphy.ca, nashvilleshoewarehouse.com and dockersshoes.com as well as catalogs. We also source, design, market and distribute footwear and accessories at wholesale, primarily under our Johnston & Murphy brand, the licensed Levi's® brand, the licensed Dockers® brand, the licensed G.H. Bass® brand and other brands that we license for footwear. At August 3, 2024, we operated 1,314 retail stores in the U.S., Puerto Rico, Canada, the U.K. and the ROI. During the three and six months ended August 3, 2024 and July 29, 2023, we operated four reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz and Little Burgundy retail footwear chains and e-commerce operations; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce operations and wholesale distribution of products under the Johnston & Murphy brand; and (iv) Genesco Brands Group, comprised of the licensed Dockers, Levi's, and G.H. Bass brands, as well as other brands we license for footwear. Selling and Administrative Expenses Wholesale costs of distribution are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations in the amount of $2.6 million and $2.5 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $5.0 million and $6.0 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively. Retail occupancy costs recorded in selling and administrative expenses were $73.5 million and $76.4 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $149.0 million and $152.8 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively.   Advertising Costs Advertising costs were $27.7 million and $28.1 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $51.4 million and $51.7 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively. Vendor Allowances Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $2.7 million and $1.9 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $4.6 million and $6.6 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively. During the first six months of each of Fiscal 2025 and Fiscal 2024, our cooperative advertising reimbursements received were not in excess of the costs incurred.   Note 1 Summary of Significant Accounting Policies, Continued New Accounting Pronouncements We continuously monitor and review all current accounting pronouncements and standards from the FASB of U.S. GAAP for applicability to our operations and financial reporting. As of August 3, 2024, there were no other new pronouncements or interpretations, other than those disclosed in the Annual Report on Form 10-K for the fiscal year ended February 3, 2024, that had or were expected to have a significant impact on our financial reporting.

v3.24.2.u1

Goodwill and Other Intangible Assets	6 Months Ended
	Aug. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 2 Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill for the Journeys Group segment were as follows:   (In thousands) Total Goodwill   Balance, February 3, 2024 $ 9,565   Effect of foreign currency exchange rates   (281 ) Balance, August 3, 2024 $ 9,284   Other intangibles by major classes were as follows:       Trademarks   Customer Lists     Other     Total   (In thousands)   Aug. 3, 2024     Feb. 3, 2024   Aug. 3, 2024     Feb. 3, 2024     Aug. 3, 2024     Feb. 3, 2024     Aug. 3, 2024     Feb. 3, 2024   Gross other intangibles   $ 24,659     $ 24,464   $ 6,516     $ 6,501     $ 400     $ 400     $ 31,575     $ 31,365   Accumulated amortization     —       —     (4,013 )     (3,715 )     (400 )     (400 )     (4,413 )     (4,115 ) Net Other Intangibles   $ 24,659     $ 24,464   $ 2,503     $ 2,786     $ —     $ —     $ 27,162     $ 27,250

v3.24.2.u1

Inventories	6 Months Ended
	Aug. 03, 2024
Inventory Disclosure [Abstract]
Inventories	Note 3 Inventories     (In thousands)   August 3, 2024     February 3, 2024   Wholesale finished goods   $ 71,514     $ 57,678   Retail merchandise     378,673       321,289   Total Inventories   $ 450,187     $ 378,967

v3.24.2.u1

Fair Value	6 Months Ended
	Aug. 03, 2024
Fair Value Disclosures [Abstract]
Fair Value	Note 4 Fair Value Fair Value of Financial Instruments The carrying amounts and fair values of our financial instruments at August 3, 2024 and February 3, 2024 are:         (In thousands) August 3, 2024   February 3, 2024     Carrying Amount   Fair Value   Carrying Amount   Fair Value   U.S. Revolver Borrowings $ 77,839   $ 78,291   $ 34,682   $ 34,638   Total Long-Term Debt $ 77,839   $ 78,291   $ 34,682   $ 34,638     Debt fair values were determined using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 within the fair value hierarchy. We did not have any debt classified as current portion as of August 3, 2024 or February 3, 2024.   As of August 3, 2024, we have $1.1 million of long-lived assets held and used which were measured using Level 3 inputs within the fair value hierarchy. As of August 3, 2024, we have $6.7 million of investments held and used which were measured using Level 1 inputs within the fair value hierarchy.

v3.24.2.u1

Long-Term Debt	6 Months Ended
	Aug. 03, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Note 5 Long-Term Debt   The revolver borrowings outstanding under the Credit Facility as of August 3, 2024 included $75.1 million U.S. revolver borrowings and $2.7 million (C$3.8 million) related to GCO Canada ULC. We were in compliance with all the relevant terms and conditions of the Credit Facility and Facility Agreement as of August 3, 2024. Excess availability under the Credit Facility was $219.4 million at August 3, 2024.

v3.24.2.u1

Earnings Per Share	6 Months Ended
	Aug. 03, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 6 Earnings Per Share Weighted-average number of shares used to calculate earnings per share are as follows:       Three Months Ended     Six Months Ended   (Shares in thousands)   August 3, 2024     July 29, 2023     August 3, 2024     July 29, 2023   Weighted-average number of shares - basic     10,942       11,344       10,936       11,581   Common stock equivalents     -       -       -       -   Weighted-average number of shares - diluted     10,942       11,344       10,936       11,581   Common stock equivalents of 0.1 million shares and less than 0.1 million shares are excluded for the three months ended August 3, 2024 and July 29, 2023, respectively, and 0.2 million shares and 0.1 million shares are excluded for the six months ended August 3, 2024 and July 29, 2023, respectively, due to the loss from continuing operations in all periods, because to do so would be anti-dilutive. We repurchased 381,711 shares during the second quarter and first six months of Fiscal 2025 at a cost of $9.3 million, or $24.49 per share. We have $42.8 million remaining as of August 3, 2024 under our expanded share repurchase authorization announced in June 2023. In addition, we recorded an accrual for excise tax on stock repurchases of less than $0.1 million in other accrued liabilities in our condensed consolidated balance sheets as of August 3, 2024. We repurchased 1,006,295 shares during the second quarter of Fiscal 2024 at a cost of $22.9 million, or $22.71 per share, and repurchased 1,261,295 shares during the first six months of fiscal 2024 at a cost of $32.0 million, or $25.39 per share. During the third quarter of Fiscal 2025, through September 11, 2024, we have not repurchased any shares.

v3.24.2.u1

Legal Proceedings	6 Months Ended
	Aug. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Note 7 Legal Proceedings Environmental Matters The Company has legacy obligations including environmental monitoring and reporting costs related to: (i) a 2016 Consent Judgment entered into with the United States Environmental Protection Agency involving the site of a knitting mill operated by a former subsidiary from 1965 to 1969 in Garden City, New York; and (ii) a 2010 Consent Decree with the Michigan Department of Natural Resources and Environment relating to our former Volunteer Leather Company facility in Whitehall, Michigan. We do not expect that future obligations related to either of these sites will have a material effect on our consolidated financial condition or results of operations.   Accrual for Environmental Contingencies Related to all outstanding environmental contingencies, we had accrued $2.0 million as of August 3, 2024, $2.0 million as of February 3, 2024 and $1.7 million as of July 29, 2023. All such provisions reflect our estimates of the most likely cost (undiscounted, including both current and noncurrent portions) of resolving the contingencies, based on facts and circumstances as of the time they were made. There is no assurance that relevant facts and circumstances will not change, necessitating future changes to the provisions. Such contingent liabilities for discontinued operations are included in other accrued liabilities and other long-term liabilities on the accompanying Condensed Consolidated Balance Sheets because they relate to former facilities operated by us. We have made pretax accruals for certain of these contingencies which were not material for the second quarter or first six months of Fiscal 2025 or Fiscal 2024. These charges are included in loss from discontinued operations, net of tax in the Condensed Consolidated Statements of Operations and represent changes in estimates. In addition to the matters specifically described in this Note, we are a party to other legal and regulatory proceedings and claims arising in the ordinary course of our business. While management does not believe that our liability with respect to any of these other matters is likely to have a material effect on our condensed consolidated financial statements, legal proceedings are subject to inherent uncertainties, and unfavorable rulings could have a material adverse impact on our condensed consolidated financial statements.

v3.24.2.u1

Business Segment Information	6 Months Ended
	Aug. 03, 2024
Segment Reporting [Abstract]
Business Segment Information	Note 8 Business Segment Information   Three Months Ended August 3, 2024                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 298,846   $ 124,561   $ 71,037   $ 30,755   $ —   $ 525,199   Intercompany sales elimination   —     —     —     (11 )   —     (11 ) Net sales to external customers(1)   298,846     124,561     71,037     30,744     —     525,188   Segment operating income (loss)   (11,151 )   7,339     (403 )   2,672     (7,953 )   (9,496 ) Asset impairments and other(2)   —     —     —     —     778     778   Operating income (loss)   (11,151 )   7,339     (403 )   2,672     (8,731 )   (10,274 ) Other components of net periodic benefit cost   —     —     —     —     86     86   Interest expense, net   —     —     —     —     1,345     1,345   Earnings (loss) from continuing operations before income taxes $ (11,151 ) $ 7,339   $ (403 ) $ 2,672   $ (10,162 ) $ (11,705 ) Total assets (3) $ 668,528   $ 205,488   $ 157,936   $ 80,954   $ 270,845   $ 1,383,751   Depreciation and amortization   8,540     1,849     1,394     331     1,055     13,169   Capital expenditures   4,313     1,764     1,461     304     55     7,897     (1) Net sales in North America and in the U.K., which includes the ROI, accounted for 76% and 24%, respectively, of our net sales in the second quarter of Fiscal 2025. (2) Asset impairments and other includes a $0.1 million charge for asset impairments in Journeys Group and $0.7 million for severance. (3) Of our $631.8 million of long-lived assets, $92.1 million and $11.0 million relate to long-lived assets in the U.K. and Canada, respectively. Note 8 Business Segment Information, Continued   Three Months Ended July 29, 2023                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 287,275   $ 122,799   $ 77,788   $ 35,461   $ —   $ 523,323   Intercompany sales elimination   —     —     (3 )   (293 )   —     (296 ) Net sales to external customers(1)   287,275     122,799     77,785     35,168     —     523,027   Segment operating income (loss)   (14,878 )   8,416     2,666     1,851     (8,055 )   (10,000 ) Goodwill impairment (2)   —     —     —     —     28,453     28,453   Asset impairments and other (3)   —     —     —     —     174     174   Operating income (loss)   (14,878 )   8,416     2,666     1,851     (36,682 )   (38,627 ) Other components of net periodic benefit cost   —     —     —     —     148     148   Interest expense, net   —     —     —     —     2,383     2,383   Earnings (loss) from continuing operations before income taxes $ (14,878 ) $ 8,416   $ 2,666   $ 1,851   $ (39,213 ) $ (41,158 ) Total assets (4) $ 769,844   $ 218,913   $ 187,379   $ 56,977   $ 261,646   $ 1,494,759   Depreciation and amortization   7,810     1,624     1,137     201     1,061     11,833   Capital expenditures   11,193     3,845     2,097     623     305     18,063     (1) Net sales in North America and in the U.K., which includes the ROI, accounted for 77% and 23%, respectively, of our net sales for the second quarter of Fiscal 2024. (2) Goodwill impairment of $28.5 million is related to Genesco Brand Group. (3) Asset impairments and other includes a $0.2 million charge for asset impairments in Journeys Group. (4) Of our $720.8 million of long-lived assets, $94.4 million and $14.7 million relate to long-lived assets in the U.K. and Canada, respectively.   Six Months Ended August 3, 2024                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 558,291   $ 216,910   $ 150,244   $ 55,354   $ —   $ 980,799   Intercompany sales elimination(1)   —     —     —     1,986     —     1,986   Net sales to external customers(2)   558,291     216,910     150,244     57,340     —     982,785   Segment operating income (loss)   (29,973 )   1,443     1,952     1,686     (16,154 )   (41,046 ) Asset impairments and other(3)   —     —     —     —     1,356     1,356   Operating income (loss)   (29,973 )   1,443     1,952     1,686     (17,510 )   (42,402 ) Other components of net periodic benefit cost   —     —     —     —     195     195   Interest expense, net   —     —     —     —     2,235     2,235   Earnings (loss) from continuing    operations before income taxes $ (29,973 ) $ 1,443   $ 1,952   $ 1,686   $ (19,940 ) $ (44,832 ) Depreciation and amortization $ 17,160   $ 3,718   $ 2,778   $ 645   $ 2,105   $ 26,406   Capital expenditures   7,804     2,497     3,176     535     262     14,274     (1) Intercompany sales for the first six months of Fiscal 2025 reflect net intercompany returns. (2) Net sales in North America and in the U.K., which includes the ROI, accounted for 78% and 22%, respectively, of our net sales in the first six months of Fiscal 2025. (3) Asset impairments and other includes a $0.4 million charge for asset impairments in Journeys Group and $1.0 million for severance.         Note 8 Business Segment Information, Continued   Six Months Ended July 29, 2023                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 559,465   $ 215,904   $ 160,418   $ 71,325   $ —   $ 1,007,112   Intercompany sales elimination   —     —     (6 )   (747 )   —     (753 ) Net sales to external customers(1)   559,465     215,904     160,412     70,578     —   $ 1,006,359   Segment operating income (loss)   (33,240 )   6,626     7,472     1,819     (15,366 ) $ (32,689 ) Goodwill impairment(2)   —     —     —     —     28,453     28,453   Asset impairments and other(3)   —     —     —     —     482     482   Operating income (loss)   (33,240 )   6,626     7,472     1,819     (44,301 )   (61,624 ) Other components of net periodic benefit cost   —     —     —     —     240     240   Interest expense   —     —     —     —     4,034     4,034   Earnings (loss) from continuing    operations before income taxes $ (33,240 ) $ 6,626   $ 7,472   $ 1,819   $ (48,575 ) $ (65,898 ) Depreciation and amortization $ 15,157   $ 3,185   $ 2,257   $ 404   $ 2,116   $ 23,119   Capital expenditures   24,212     5,996     3,302     1,078     710     35,298     (1) Net sales in North America and in the U.K., which includes the ROI, accounted for 79% and 21%, respectively, of our net sales for the first six months of Fiscal 2024. (2) Goodwill impairment of $28.5 million is related to Genesco Brand Group. (3) Asset impairments and other includes a $0.5 million charge for asset impairments in Journeys Group.

v3.24.2.u1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 03, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and Notes for Fiscal 2024, which are contained in our Annual Report on Form 10-K as filed with the SEC on March 27, 2024. The Condensed Consolidated Financial Statements and Notes contained in this report are unaudited but reflect all adjustments, including normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending February 1, 2025 ("Fiscal 2025"), which is a 52-week year, and of the fiscal year ended February 3, 2024 ("Fiscal 2024"), which was a 53-week year. All subsidiaries are consolidated in the Condensed Consolidated Financial Statements. All significant intercompany transactions and accounts have been eliminated. The results of operations for any interim period are not necessarily indicative of results for the full year. The Condensed Consolidated Financial Statements and the related Notes have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by U.S. Generally Accepted Accounting Principles (“GAAP”) for complete financial statements. The Condensed Consolidated Balance Sheet as of February 3, 2024 has been derived from the audited financial statements at that date.
Nature of Operations	Nature of Operations Genesco Inc. and its subsidiaries (collectively the "Company", "Genesco," "we", "our", or "us") business includes the sourcing and design, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys®, Journeys Kidz®, Little Burgundy® and Johnston & Murphy® banners and under the Schuh® banner in the United Kingdom (“U.K.”) and the Republic of Ireland (“ROI”); through e-commerce websites including the following: journeys.com, journeyskidz.com, journeys.ca, littleburgundyshoes.com, schuh.co.uk, schuh.ie, schuh.eu, johnstonmurphy.com, johnstonmurphy.ca, nashvilleshoewarehouse.com and dockersshoes.com as well as catalogs. We also source, design, market and distribute footwear and accessories at wholesale, primarily under our Johnston & Murphy brand, the licensed Levi's® brand, the licensed Dockers® brand, the licensed G.H. Bass® brand and other brands that we license for footwear. At August 3, 2024, we operated 1,314 retail stores in the U.S., Puerto Rico, Canada, the U.K. and the ROI. During the three and six months ended August 3, 2024 and July 29, 2023, we operated four reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz and Little Burgundy retail footwear chains and e-commerce operations; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce operations and wholesale distribution of products under the Johnston & Murphy brand; and (iv) Genesco Brands Group, comprised of the licensed Dockers, Levi's, and G.H. Bass brands, as well as other brands we license for footwear.
Selling and Administrative Expenses	Selling and Administrative Expenses Wholesale costs of distribution are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations in the amount of $2.6 million and $2.5 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $5.0 million and $6.0 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively. Retail occupancy costs recorded in selling and administrative expenses were $73.5 million and $76.4 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $149.0 million and $152.8 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively.
Advertising Costs	Advertising Costs Advertising costs were $27.7 million and $28.1 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $51.4 million and $51.7 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively.
Vendor Allowances	Vendor Allowances Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $2.7 million and $1.9 million for the second quarters of Fiscal 2025 and Fiscal 2024, respectively, and $4.6 million and $6.6 million for the first six months of Fiscal 2025 and Fiscal 2024, respectively. During the first six months of each of Fiscal 2025 and Fiscal 2024, our cooperative advertising reimbursements received were not in excess of the costs incurred.
New Accounting Pronouncements	New Accounting Pronouncements We continuously monitor and review all current accounting pronouncements and standards from the FASB of U.S. GAAP for applicability to our operations and financial reporting. As of August 3, 2024, there were no other new pronouncements or interpretations, other than those disclosed in the Annual Report on Form 10-K for the fiscal year ended February 3, 2024, that had or were expected to have a significant impact on our financial reporting.

v3.24.2.u1

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Aug. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount for the Journeys Group Segment	The changes in the carrying amount of goodwill for the Journeys Group segment were as follows:   (In thousands) Total Goodwill   Balance, February 3, 2024 $ 9,565   Effect of foreign currency exchange rates   (281 ) Balance, August 3, 2024 $ 9,284
Summary of Other Intangible Assets	Other intangibles by major classes were as follows:       Trademarks   Customer Lists     Other     Total   (In thousands)   Aug. 3, 2024     Feb. 3, 2024   Aug. 3, 2024     Feb. 3, 2024     Aug. 3, 2024     Feb. 3, 2024     Aug. 3, 2024     Feb. 3, 2024   Gross other intangibles   $ 24,659     $ 24,464   $ 6,516     $ 6,501     $ 400     $ 400     $ 31,575     $ 31,365   Accumulated amortization     —       —     (4,013 )     (3,715 )     (400 )     (400 )     (4,413 )     (4,115 ) Net Other Intangibles   $ 24,659     $ 24,464   $ 2,503     $ 2,786     $ —     $ —     $ 27,162     $ 27,250

v3.24.2.u1

Inventories (Tables)	6 Months Ended
	Aug. 03, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	(In thousands)   August 3, 2024     February 3, 2024   Wholesale finished goods   $ 71,514     $ 57,678   Retail merchandise     378,673       321,289   Total Inventories   $ 450,187     $ 378,967

v3.24.2.u1

Fair Value (Tables)	6 Months Ended
	Aug. 03, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Financial Instruments	The carrying amounts and fair values of our financial instruments at August 3, 2024 and February 3, 2024 are:         (In thousands) August 3, 2024   February 3, 2024     Carrying Amount   Fair Value   Carrying Amount   Fair Value   U.S. Revolver Borrowings $ 77,839   $ 78,291   $ 34,682   $ 34,638   Total Long-Term Debt $ 77,839   $ 78,291   $ 34,682   $ 34,638

v3.24.2.u1

Earnings Per Share (Tables)	6 Months Ended
	Aug. 03, 2024
Earnings Per Share [Abstract]
Summary of Weighted-Average Number of Shares	Weighted-average number of shares used to calculate earnings per share are as follows:       Three Months Ended     Six Months Ended   (Shares in thousands)   August 3, 2024     July 29, 2023     August 3, 2024     July 29, 2023   Weighted-average number of shares - basic     10,942       11,344       10,936       11,581   Common stock equivalents     -       -       -       -   Weighted-average number of shares - diluted     10,942       11,344       10,936       11,581

v3.24.2.u1

Business Segment Information (Tables)	6 Months Ended
	Aug. 03, 2024
Segment Reporting [Abstract]
Schedule of Business Segment Information	Three Months Ended August 3, 2024                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 298,846   $ 124,561   $ 71,037   $ 30,755   $ —   $ 525,199   Intercompany sales elimination   —     —     —     (11 )   —     (11 ) Net sales to external customers(1)   298,846     124,561     71,037     30,744     —     525,188   Segment operating income (loss)   (11,151 )   7,339     (403 )   2,672     (7,953 )   (9,496 ) Asset impairments and other(2)   —     —     —     —     778     778   Operating income (loss)   (11,151 )   7,339     (403 )   2,672     (8,731 )   (10,274 ) Other components of net periodic benefit cost   —     —     —     —     86     86   Interest expense, net   —     —     —     —     1,345     1,345   Earnings (loss) from continuing operations before income taxes $ (11,151 ) $ 7,339   $ (403 ) $ 2,672   $ (10,162 ) $ (11,705 ) Total assets (3) $ 668,528   $ 205,488   $ 157,936   $ 80,954   $ 270,845   $ 1,383,751   Depreciation and amortization   8,540     1,849     1,394     331     1,055     13,169   Capital expenditures   4,313     1,764     1,461     304     55     7,897     (1) Net sales in North America and in the U.K., which includes the ROI, accounted for 76% and 24%, respectively, of our net sales in the second quarter of Fiscal 2025. (2) Asset impairments and other includes a $0.1 million charge for asset impairments in Journeys Group and $0.7 million for severance. (3) Of our $631.8 million of long-lived assets, $92.1 million and $11.0 million relate to long-lived assets in the U.K. and Canada, respectively. Note 8 Business Segment Information, Continued   Three Months Ended July 29, 2023                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 287,275   $ 122,799   $ 77,788   $ 35,461   $ —   $ 523,323   Intercompany sales elimination   —     —     (3 )   (293 )   —     (296 ) Net sales to external customers(1)   287,275     122,799     77,785     35,168     —     523,027   Segment operating income (loss)   (14,878 )   8,416     2,666     1,851     (8,055 )   (10,000 ) Goodwill impairment (2)   —     —     —     —     28,453     28,453   Asset impairments and other (3)   —     —     —     —     174     174   Operating income (loss)   (14,878 )   8,416     2,666     1,851     (36,682 )   (38,627 ) Other components of net periodic benefit cost   —     —     —     —     148     148   Interest expense, net   —     —     —     —     2,383     2,383   Earnings (loss) from continuing operations before income taxes $ (14,878 ) $ 8,416   $ 2,666   $ 1,851   $ (39,213 ) $ (41,158 ) Total assets (4) $ 769,844   $ 218,913   $ 187,379   $ 56,977   $ 261,646   $ 1,494,759   Depreciation and amortization   7,810     1,624     1,137     201     1,061     11,833   Capital expenditures   11,193     3,845     2,097     623     305     18,063     (1) Net sales in North America and in the U.K., which includes the ROI, accounted for 77% and 23%, respectively, of our net sales for the second quarter of Fiscal 2024. (2) Goodwill impairment of $28.5 million is related to Genesco Brand Group. (3) Asset impairments and other includes a $0.2 million charge for asset impairments in Journeys Group. (4) Of our $720.8 million of long-lived assets, $94.4 million and $14.7 million relate to long-lived assets in the U.K. and Canada, respectively.   Six Months Ended August 3, 2024                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 558,291   $ 216,910   $ 150,244   $ 55,354   $ —   $ 980,799   Intercompany sales elimination(1)   —     —     —     1,986     —     1,986   Net sales to external customers(2)   558,291     216,910     150,244     57,340     —     982,785   Segment operating income (loss)   (29,973 )   1,443     1,952     1,686     (16,154 )   (41,046 ) Asset impairments and other(3)   —     —     —     —     1,356     1,356   Operating income (loss)   (29,973 )   1,443     1,952     1,686     (17,510 )   (42,402 ) Other components of net periodic benefit cost   —     —     —     —     195     195   Interest expense, net   —     —     —     —     2,235     2,235   Earnings (loss) from continuing    operations before income taxes $ (29,973 ) $ 1,443   $ 1,952   $ 1,686   $ (19,940 ) $ (44,832 ) Depreciation and amortization $ 17,160   $ 3,718   $ 2,778   $ 645   $ 2,105   $ 26,406   Capital expenditures   7,804     2,497     3,176     535     262     14,274     (1) Intercompany sales for the first six months of Fiscal 2025 reflect net intercompany returns. (2) Net sales in North America and in the U.K., which includes the ROI, accounted for 78% and 22%, respectively, of our net sales in the first six months of Fiscal 2025. (3) Asset impairments and other includes a $0.4 million charge for asset impairments in Journeys Group and $1.0 million for severance.         Note 8 Business Segment Information, Continued   Six Months Ended July 29, 2023                         (In thousands) Journeys Group   Schuh Group   Johnston & Murphy Group   Genesco Brands Group   Corporate & Other   Consolidated   Sales $ 559,465   $ 215,904   $ 160,418   $ 71,325   $ —   $ 1,007,112   Intercompany sales elimination   —     —     (6 )   (747 )   —     (753 ) Net sales to external customers(1)   559,465     215,904     160,412     70,578     —   $ 1,006,359   Segment operating income (loss)   (33,240 )   6,626     7,472     1,819     (15,366 ) $ (32,689 ) Goodwill impairment(2)   —     —     —     —     28,453     28,453   Asset impairments and other(3)   —     —     —     —     482     482   Operating income (loss)   (33,240 )   6,626     7,472     1,819     (44,301 )   (61,624 ) Other components of net periodic benefit cost   —     —     —     —     240     240   Interest expense   —     —     —     —     4,034     4,034   Earnings (loss) from continuing    operations before income taxes $ (33,240 ) $ 6,626   $ 7,472   $ 1,819   $ (48,575 ) $ (65,898 ) Depreciation and amortization $ 15,157   $ 3,185   $ 2,257   $ 404   $ 2,116   $ 23,119   Capital expenditures   24,212     5,996     3,302     1,078     710     35,298     (1) Net sales in North America and in the U.K., which includes the ROI, accounted for 79% and 21%, respectively, of our net sales for the first six months of Fiscal 2024. (2) Goodwill impairment of $28.5 million is related to Genesco Brand Group. (3) Asset impairments and other includes a $0.5 million charge for asset impairments in Journeys Group.

v3.24.2.u1

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2024 USD ($) Segment Store	Jul. 29, 2023 USD ($) Segment	Aug. 03, 2024 USD ($) Store Segment	Jul. 29, 2023 USD ($) Segment
Summary of Accounting Policies [Line Items]
Number of retail stores operated by company | Store	1,314		1,314
Number of reportable business segments | Segment	4	4	4	4
Selling and administrative expenses	$ 255,135	$ 259,520	$ 502,966	$ 511,017
Advertising costs	27,700	28,100	51,400	51,700
Vendor reimbursements of cooperative advertising costs	2,700	1,900	4,600	6,600
Wholesale Costs of Distribution
Summary of Accounting Policies [Line Items]
Selling and administrative expenses	2,600	2,500	5,000	6,000
Retail Occupancy Costs
Summary of Accounting Policies [Line Items]
Selling and administrative expenses	$ 73,500	$ 76,400	$ 149,000	$ 152,800

v3.24.2.u1

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount for the Journeys Group Segment (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023		Aug. 03, 2024	Jul. 29, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance				$ 9,565
Impairment	$ 0	$ (28,453)	[1]	0	$ (28,453)	[2]
Effect of foreign currency exchange rates				(281)
Goodwill, ending balance	$ 9,284	$ 9,717		$ 9,284	$ 9,717
[1] Goodwill impairment of $28.5 million is related to Genesco Brand Group. [2] Goodwill impairment of $28.5 million is related to Genesco Brand Group.

v3.24.2.u1

Goodwill and Other Intangible Assets - Summary of Other Intangibles Assets (Details) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Other intangibles by major classes
Gross other intangibles	$ 31,575	$ 31,365
Accumulated amortization	(4,413)	(4,115)
Net Other Intangibles	27,162	27,250	$ 27,952
Trademarks
Other intangibles by major classes
Gross other intangibles	24,659	24,464
Accumulated amortization	0	0
Net Other Intangibles	24,659	24,464
Customer Lists
Other intangibles by major classes
Gross other intangibles	6,516	6,501
Accumulated amortization	(4,013)	(3,715)
Net Other Intangibles	2,503	2,786
Other
Other intangibles by major classes
Gross other intangibles	400	400
Accumulated amortization	(400)	(400)
Net Other Intangibles	$ 0	$ 0

v3.24.2.u1

Asset Impairments and Other Charges - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024		Jul. 29, 2023		Aug. 03, 2024		Jul. 29, 2023
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net	$ (778)	[1]	$ (174)	[1]	$ (1,356)	[2]	$ (482)	[3]
[1] Asset impairments and other includes a $0.1 million charge for asset impairments in Journeys Group and $0.7 million for severance. [2] Asset impairments and other includes a $0.4 million charge for asset impairments in Journeys Group and $1.0 million for severance. [3] Asset impairments and other includes a $0.5 million charge for asset impairments in Journeys Group.

v3.24.2.u1

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Inventories
Wholesale finished goods	$ 71,514	$ 57,678
Retail merchandise	378,673	321,289
Total Inventories	$ 450,187	$ 378,967	$ 491,118

v3.24.2.u1

Fair Value - Schedule of Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 77,839	$ 34,682
Fair Value	78,291	34,638
U.S. Revolver Borrowings
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	77,839	34,682
Fair Value	$ 78,291	$ 34,638

v3.24.2.u1

Fair Value - Additional Information (Details) - USD ($) $ in Millions	Aug. 03, 2024	Jul. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 631.8	$ 720.8
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	1.1
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments held	$ 6.7

v3.24.2.u1

Long-Term Debt - Additional Information (Details) $ in Thousands, $ in Millions	6 Months Ended
	Aug. 03, 2024 USD ($)	Aug. 03, 2024 CAD ($)	Feb. 03, 2024 USD ($)
Debt Instrument [Line Items]
Carrying Amount	$ 77,839		$ 34,682
Long term debt description	The revolver borrowings outstanding under the Credit Facility as of August 3, 2024 included $75.1 million U.S. revolver borrowings and $2.7 million (C$3.8 million) related to GCO Canada ULC. We were in compliance with all the relevant terms and conditions of the Credit Facility and Facility Agreement as of August 3, 2024. Excess availability under the Credit Facility was $219.4 million at August 3, 2024.
Revolving Credit Facility
Debt Instrument [Line Items]
Excess availability under credit facility	$ 219,400
Genesco Canada Ulc | Revolving Credit Facility
Debt Instrument [Line Items]
Carrying Amount	2,700	$ 3.8
U.S. Revolver Borrowings
Debt Instrument [Line Items]
Carrying Amount	77,839		$ 34,682
U.S. Revolver Borrowings | Revolving Credit Facility
Debt Instrument [Line Items]
Carrying Amount	$ 75,100

v3.24.2.u1

Earnings Per Share - Summary of Weighted-Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Earnings Per Share [Abstract]
Weighted-average number of shares - basic (in shares)	10,942	11,344	10,936	11,581
Common stock equivalents (in shares)	0	0	0	0
Weighted-average number of shares - diluted (in shares)	10,942	11,344	10,936	11,581

v3.24.2.u1

Earnings Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Sep. 11, 2024	Aug. 03, 2024	Jul. 29, 2023	Apr. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded		100,000	100,000		200,000	100,000
Stock repurchased during period (in shares)		381,711	1,006,295		381,711	1,261,295
Shares repurchased		$ 9,349	$ 22,857	$ 9,170	$ 9,300	$ 32,000
Share price		$ 24.49	$ 22.71		$ 24.49	$ 25.39
Remaining authorized repurchase amount		$ 42,800			$ 42,800
Subsequent Event [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock repurchased during period (in shares)	0
Maximum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excise tax on stock repurchases		$ 100			$ 100

v3.24.2.u1

Legal Proceedings - Additional Information (Details) - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Loss Contingencies [Line Items]
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Amount related to outstanding environmental contingencies	$ 2.0	$ 2.0	$ 1.7

v3.24.2.u1

Business Segment Information - Schedule of Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024		Jul. 29, 2023		Aug. 03, 2024		Jul. 29, 2023		Feb. 03, 2024
Segment Reporting Information [Line Items]
Net sales	$ 525,188	[1]	$ 523,027	[2]	$ 982,785	[3]	$ 1,006,359	[4]
Segment operating income (loss)	(9,496)		(10,000)		(41,046)		(32,689)
Goodwill impairment	0		28,453	[5]	0		28,453	[6]
Asset impairments and other	778	[7]	174	[7]	1,356	[8]	482	[9]
Operating loss	(10,274)		(38,627)		(42,402)		(61,624)
Other components of net periodic benefit cost	86		148		195		240
Interest expense, net	1,345		2,383		2,235		4,034
Loss from continuing operations before income taxes	(11,705)		(41,158)		(44,832)		(65,898)
Total assets	1,383,751	[10]	1,494,759	[11]	1,383,751	[10]	1,494,759	[11]	$ 1,329,890
Depreciation and amortization	13,169		11,833		26,406		23,119
Capital expenditures	7,897		18,063		14,274		35,298
Journeys Group
Segment Reporting Information [Line Items]
Net sales	298,846	[1]	287,275	[2]	558,291	[3]	559,465	[4]
Schuh Group
Segment Reporting Information [Line Items]
Net sales	124,561	[1]	122,799	[2]	216,910	[3]	215,904	[4]
Johnston & Murphy Group
Segment Reporting Information [Line Items]
Net sales	71,037	[1]	77,785	[2]	150,244	[3]	160,412	[4]
Genesco Brands Group
Segment Reporting Information [Line Items]
Net sales	30,744	[1]	35,168	[2]	57,340	[3]	70,578	[4]
Goodwill impairment			28,500				28,500
Operating Segments
Segment Reporting Information [Line Items]
Net sales	525,199		523,323		980,799		1,007,112
Operating Segments | Journeys Group
Segment Reporting Information [Line Items]
Net sales	298,846		287,275		558,291		559,465
Segment operating income (loss)	(11,151)		(14,878)		(29,973)		(33,240)
Goodwill impairment			0	[5]			0	[6]
Asset impairments and other	0	[7]	0	[12]	0	[8]	0	[9]
Operating loss	(11,151)		(14,878)		(29,973)		(33,240)
Other components of net periodic benefit cost	0		0		0		0
Interest expense, net	0		0		0		0
Loss from continuing operations before income taxes	(11,151)		(14,878)		(29,973)		(33,240)
Total assets	668,528	[10]	769,844	[11]	668,528	[10]	769,844	[11]
Depreciation and amortization	8,540		7,810		17,160		15,157
Capital expenditures	4,313		11,193		7,804		24,212
Operating Segments | Schuh Group
Segment Reporting Information [Line Items]
Net sales	124,561		122,799		216,910		215,904
Segment operating income (loss)	7,339		8,416		1,443		6,626
Goodwill impairment			0	[5]			0	[6]
Asset impairments and other	0	[7]	0	[7]	0	[8]	0	[9]
Operating loss	7,339		8,416		1,443		6,626
Other components of net periodic benefit cost	0		0		0		0
Interest expense, net	0		0		0		0
Loss from continuing operations before income taxes	7,339		8,416		1,443		6,626
Total assets	205,488	[10]	218,913	[11]	205,488	[10]	218,913	[11]
Depreciation and amortization	1,849		1,624		3,718		3,185
Capital expenditures	1,764		3,845		2,497		5,996
Operating Segments | Johnston & Murphy Group
Segment Reporting Information [Line Items]
Net sales	71,037		77,788		150,244		160,418
Segment operating income (loss)	(403)		2,666		1,952		7,472
Goodwill impairment			0	[5]			0	[6]
Asset impairments and other	0	[7]	0	[7]	0	[8]	0	[9]
Operating loss	(403)		2,666		1,952		7,472
Other components of net periodic benefit cost	0		0		0		0
Interest expense, net	0		0		0		0
Loss from continuing operations before income taxes	(403)		2,666		1,952		7,472
Total assets	157,936	[10]	187,379	[11]	157,936	[10]	187,379	[11]
Depreciation and amortization	1,394		1,137		2,778		2,257
Capital expenditures	1,461		2,097		3,176		3,302
Operating Segments | Genesco Brands Group
Segment Reporting Information [Line Items]
Net sales	30,755		35,461		55,354		71,325
Segment operating income (loss)	2,672		1,851		1,686		1,819
Goodwill impairment			0	[5]			0	[6]
Asset impairments and other	0	[7]	0	[7]	0	[8]	0	[9]
Operating loss	2,672		1,851		1,686		1,819
Other components of net periodic benefit cost	0		0		0		0
Interest expense, net	0		0		0		0
Loss from continuing operations before income taxes	2,672		1,851		1,686		1,819
Total assets	80,954	[10]	56,977	[11]	80,954	[10]	56,977	[11]
Depreciation and amortization	331		201		645		404
Capital expenditures	304		623		535		1,078
Corporate & Other
Segment Reporting Information [Line Items]
Net sales	0	[1]	0	[2]	0	[3],[13]	0	[4]
Segment operating income (loss)	(7,953)		(8,055)		(16,154)		(15,366)
Goodwill impairment			28,453	[5]			28,453	[6]
Asset impairments and other	778	[7]	174	[7]	1,356	[8]	482	[9]
Operating loss	(8,731)		(36,682)		(17,510)		(44,301)
Other components of net periodic benefit cost	86		148		195		240
Interest expense, net	1,345		2,383		2,235		4,034
Loss from continuing operations before income taxes	(10,162)		(39,213)		(19,940)		(48,575)
Total assets	270,845	[10]	261,646	[11]	270,845	[10]	261,646	[11]
Depreciation and amortization	1,055		1,061		2,105		2,116
Capital expenditures	55		305		262		710
Intercompany Sales Elimination
Segment Reporting Information [Line Items]
Net sales	(11)		(296)		1,986	[13]	(753)
Intercompany Sales Elimination | Journeys Group
Segment Reporting Information [Line Items]
Net sales	0		0		0	[13]	0
Intercompany Sales Elimination | Schuh Group
Segment Reporting Information [Line Items]
Net sales	0		0		0	[13]	0
Intercompany Sales Elimination | Johnston & Murphy Group
Segment Reporting Information [Line Items]
Net sales	0		(3)		0	[13]	(6)
Intercompany Sales Elimination | Genesco Brands Group
Segment Reporting Information [Line Items]
Net sales	$ (11)		$ (293)		$ 1,986	[13]	$ (747)
[1] Net sales in North America and in the U.K., which includes the ROI, accounted for 76% and 24%, respectively, of our net sales in the second quarter of Fiscal 2025 [2] Net sales in North America and in the U.K., which includes the ROI, accounted for 77% and 23%, respectively, of our net sales for the second quarter of Fiscal 2024. [3] Net sales in North America and in the U.K., which includes the ROI, accounted for 78% and 22%, respectively, of our net sales in the first six months of Fiscal 2025. [4] Net sales in North America and in the U.K., which includes the ROI, accounted for 79% and 21%, respectively, of our net sales for the first six months of Fiscal 2024. [5] Goodwill impairment of $28.5 million is related to Genesco Brand Group. [6] Goodwill impairment of $28.5 million is related to Genesco Brand Group. [7] Asset impairments and other includes a $0.1 million charge for asset impairments in Journeys Group and $0.7 million for severance. [8] Asset impairments and other includes a $0.4 million charge for asset impairments in Journeys Group and $1.0 million for severance. [9] Asset impairments and other includes a $0.5 million charge for asset impairments in Journeys Group. [10] Of our $631.8 million of long-lived assets, $92.1 million and $11.0 million relate to long-lived assets in the U.K. and Canada, respectively. [11] Of our $720.8 million of long-lived assets, $94.4 million and $14.7 million relate to long-lived assets in the U.K. and Canada, respectively. [12] Asset impairments and other includes a $0.2 million charge for asset impairments in Journeys Group [13] Intercompany sales for the first six months of Fiscal 2025 reflect net intercompany returns.

v3.24.2.u1

Business Segment Information - Schedule of Business Segment Information (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024		Jul. 29, 2023		Aug. 03, 2024		Jul. 29, 2023
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ 778	[1]	$ 174	[1]	$ 1,356	[2]	$ 482	[3]
Long-lived assets	631,800		720,800		631,800		720,800
Segment operating income (loss)	(9,496)		(10,000)		(41,046)		(32,689)
Goodwill impairment	0		28,453	[4]	0		28,453	[5]
U.K.
Segment Reporting Information [Line Items]
Long-lived assets	92,100		94,400		92,100		94,400
Canada
Segment Reporting Information [Line Items]
Long-lived assets	$ 11,000		$ 14,700		$ 11,000		$ 14,700
GeographicConcentrationRiskMember | SalesRevenueNetMember | U.K.
Segment Reporting Information [Line Items]
ConcentrationRiskPercentage1	24.00%		23.00%		22.00%		21.00%
GeographicConcentrationRiskMember | SalesRevenueNetMember | NorthAmerica
Segment Reporting Information [Line Items]
ConcentrationRiskPercentage1	76.00%		77.00%		78.00%		79.00%
Genesco Brands Group
Segment Reporting Information [Line Items]
Goodwill impairment			$ 28,500				$ 28,500
Retail Store Asset Impairments | Journeys Group
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ 100		$ 200		$ 400		$ 500
Employee Severance
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ 700				$ 1,000
[1] Asset impairments and other includes a $0.1 million charge for asset impairments in Journeys Group and $0.7 million for severance. [2] Asset impairments and other includes a $0.4 million charge for asset impairments in Journeys Group and $1.0 million for severance. [3] Asset impairments and other includes a $0.5 million charge for asset impairments in Journeys Group. [4] Goodwill impairment of $28.5 million is related to Genesco Brand Group. [5] Goodwill impairment of $28.5 million is related to Genesco Brand Group.

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