8-K
GENESCO INC (GCO)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 28, 2025
GENESCO INC.
(Exact name of registrant as specified in its charter)
| Tennessee | 1-3083 | 62-0211340 | |
|---|---|---|---|
| (State or Other Jurisdiction<br><br>of Incorporation) | (Commission<br><br>File Number) | (I.R.S. Employer<br><br>Identification No.) | |
| 535 Marriott Drive | Nashville | Tennessee | 37214 |
| (Address of Principal Executive Offices) | (Zip Code) |
(615) 367-7000
Registrant's telephone number, including area code
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of exchange on which registered |
|---|---|---|
| Common Stock, $1.00 par value | GCO | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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.
☐
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On August 28, 2025, Genesco Inc. issued a press release announcing results of operations for the second fiscal quarter ended August 2, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On August 28, 2025, the Company also posted on its website, www.genesco.com, a slide presentation with summary results. A copy of the slide presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), the press release furnished herewith contains non-GAAP financial measures, including adjusted gross margin, operating income (loss), pretax earnings (loss), earnings (loss) from continuing operations and earnings (loss) per share from continuing operations, as discussed in the text of the release and as detailed on the reconciliation schedule attached to the press release. For consistency and ease of comparison with the adjusted results for the prior period announced last year, the Company believes that disclosure of the non-GAAP measures will be useful to investors.
Item 7.01. Regulation FD Disclosure.
As previously announced, Genesco’s management team will present at the Goldman Sachs 32nd Annual Global Retailing Conference on Thursday, September 4, 2025 at 8:55 a.m. (Eastern Time). The audio portion of the presentation will be webcast live and may be accessed through the Company's internet website, http://www.genesco.com. To listen, please go to the website at least 15 minutes early to register, download and install any necessary software.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
The following exhibits are furnished herewith:
| Exhibit Number | Description |
|---|---|
| 99.1 | Press Release issued by Genesco Inc. on August 28, 2025 |
| 99.2 | Genesco Inc. Second Fiscal Quarter ended August 2, 2025 Summary Results |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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 hereunto duly authorized.
| GENESCO INC. | ||
|---|---|---|
| Date: August 28, 2025 | By: | /s/ Cassandra E. Harris |
| Name: | Cassandra E. Harris | |
| Title: | Senior Vice President - Finance and<br><br>Chief Financial Officer |
EX-99.1
Exhibit 99.1
GENESCO INC. REPORTS FISCAL 2026 SECOND QUARTER RESULTS
--Top and Bottom-line Results Exceed Expectations--
-- Journeys Comparable Sales Increased 9%, Overall Comparable Sales Increased 4%--
--Fourth Consecutive Quarter of Positive Comparable Sales Growth—
-- Raises Full Year Sales Outlook --
NASHVILLE, Tenn., Aug. 28, 2025 --- Genesco Inc. (NYSE: GCO) today reported second quarter results for the three months ended August 2, 2025.
Second Quarter Fiscal 2026 Financial Summary
- Net sales of $546 million increased 4% compared to Q2FY25
- Comparable sales increased 4%, with stores up 5% and e-commerce up 1%
- E-commerce sales represented 22% of retail sales
- GAAP EPS was ($1.79) and Non-GAAP EPS was ($1.14)1 versus GAAP EPS of ($0.91) and Non-GAAP EPS of ($0.83) last year
Mimi E. Vaughn, Genesco’s Board Chair, President and Chief Executive Officer, said, "We are pleased to report another quarter that exceeded expectations and our fourth consecutive quarter of positive comparable sales growth. The momentum from the second half of last year has continued in Fiscal 2026 highlighted by Journeys high-single digit comp increase as our strategic plan to accelerate growth continues to gain traction. Our focus on product elevation, enhanced customer experience, and strengthened brand positioning is resonating with our broader target teen customer base, as we outperform the market and drive increased share.”
Vaughn continued, "Back to school is off to a very good start in the third quarter with Journeys comping nicely positive on the positive comps for the same period last year. While near-term uncertainty around tariff rates and consumer demand remains elevated, we are encouraged by our recent performance as we prepare for the start of the upcoming holiday season. I am confident in our ability to navigate the current environment and build on our momentum.”
__________________________
1Excludes charges for severance, net of tax effect and the tax impact of the One Big Beautiful Bill Act (“OBBBA”) in the second quarter of Fiscal 2026 (“Excluded Items”). A reconciliation of loss and loss per share from continuing operations in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) with the adjusted loss and loss per share numbers is set forth on Schedule B to this press release. The Company believes that disclosure of loss and loss per share from continuing operations adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.
Sandra Harris, Genesco's Senior Vice President Finance and Chief Financial Officer, added, "With Journeys strong performance year-to-date, we are raising our full year revenue outlook. The increased top-line and corresponding leverage are allowing us to offset additional pressure on gross margins from higher tariffs and a very promotional U.K. marketplace, and reiterate our full year adjusted EPS guidance of $1.30 to $1.70.”
Second Quarter Review
Net sales for the second quarter of Fiscal 2026 increased 4% to $546 million compared to $525 million in the second quarter of Fiscal 2025. The net sales increase reflects a 4% increase in comparable sales, including a 5% increase in same store sales and a 1% increase in e-commerce comparable sales, and a favorable foreign exchange impact, partially offset by the impact of net store closings.
| Comparable Sales | ||
|---|---|---|
| Comparable Same Store and E-commerce Sales: | 2QFY26 | 2QFY25 |
| Journeys Group | 9% | (1)% |
| Schuh Group | (4)% | (2)% |
| Johnston & Murphy Group | 1% | (5)% |
| Total Genesco Comparable Sales | 4% | (2)% |
| Same Store Sales | 5% | (4)% |
| Comparable E-commerce Sales | 1% | 8% |
The overall sales increase of 4% for the second quarter of Fiscal 2026 compared to the second quarter of Fiscal 2025 was driven by an increase of 6% at Journeys, an increase of 2% at Schuh and a 5% increase at Genesco Brands, partially offset by a decrease of 3% at Johnston & Murphy. On a constant currency basis, Schuh sales were down 4% for the second quarter this year.
Gross margin for the second quarter this year was 45.8% compared to 46.8% last year. The 100 basis point decrease in gross margin as a percentage of sales compared to Fiscal 2025 is due primarily to increased promotional activity at Schuh and lower margins at Genesco Brands related to the exit of licenses and the impact from tariffs, partially offset by increased margins at Johnston & Murphy reflecting price increases and lower retail markdowns as well as improved costs from sourcing optimization.
Selling and administrative expenses for the second quarter this year of 48.4% decreased 20 basis points as a percentage of sales from 48.6% last year primarily reflecting decreased occupancy and other expenses, partially offset by increased marketing expense and an unfavorable comparison to a credit for certain non-income taxes last year.
Genesco’s GAAP operating loss for the second quarter was $14.4 million, or 2.6% of sales this year, compared with a loss of $10.3 million, or 2.0% of sales in the second quarter last year. Adjusted for the Excluded Items in the second quarters of both Fiscal 2026 and 2025, the operating loss for the second quarter was $14.3 million this year compared to a loss of $9.3 million last year. Adjusted operating margin was a loss of 2.6% of sales in the second quarter of Fiscal 2026 compared to a loss of 1.8% in the second quarter last year.
The effective tax rate for the quarter was -15.0% in Fiscal 2026 compared to 15.2% in the second quarter last year. The adjusted tax rate, reflecting Excluded Items, was 26.5% in Fiscal 2026 compared to 15.1% in the second quarter last year. The higher adjusted tax rate for the second quarter this year compared to the second quarter last year reflects a higher expected tax rate for Fiscal 2026 versus Fiscal 2025 due to the impact of the valuation allowance in certain jurisdictions. The divergence between the effective tax rate and the adjusted tax rate is due to income tax law changes under the OBBBA that we have excluded from the adjusted tax rate.
GAAP loss from continuing operations was $18.5 million in the second quarter of Fiscal 2026 compared to a loss of $9.9 million in the second quarter last year. Adjusted for the Excluded Items, the second quarter loss from continuing operations was $11.7 million, or $1.14 per share, in Fiscal 2026, compared to a loss of $9.1 million, or $0.83 per share, in the second quarter last year.
Cash, Borrowings and Inventory
Cash as of August 2, 2025 was $41.0 million, compared with $45.9 million as of August 3, 2024. Total debt at the end of the second quarter of Fiscal 2026 was $71.0 million compared with $77.8 million at the end of last year’s second quarter. Inventories increased 11% on a year-over-year basis, reflecting increased inventory at Journeys, Schuh and Johnston & Murphy, partially offset by decreased inventory at Genesco Brands.
Capital Expenditures and Store Activity
For the second quarter this year, capital expenditures were $15 million, related primarily to retail stores and other initiatives. Depreciation and amortization was $13 million. During the quarter, the Company opened nine stores and closed 12 stores. The Company ended the quarter with 1,253 stores compared with 1,314 stores at the end of the second quarter last year, or a decrease of 5%. Square footage was down 3% on a year-over-year basis.
Share Repurchases
The Company did not repurchase any shares during the second quarter of Fiscal 2026. The Company currently has $29.8 million remaining on its expanded share repurchase authorization announced in June 2023.
Fiscal 2026 Outlook
For Fiscal 2026, the Company:
- Continues to expect adjusted diluted earnings per share from continuing operations in the range of $1.30 to $1.70 2 , including the impact of tariffs currently in place
- Now expects total sales to be up 3% to 4% compared to Fiscal 2025 with comparable sales range up 4% to 5%, up from prior guidance for total sales to be up 1% to 2% and comparable sales up 2% to 3%.
- Guidance assumes no further share repurchases and a tax rate of 29% excluding the tax impact of OBBBA
__________________________
2A reconciliation of the adjusted financial measures cited in the guidance to their corresponding measures as reported pursuant to GAAP is included in Schedule B to this press release.
Conference Call, Management Commentary and Investor Presentation
The Company has posted detailed financial commentary and a supplemental financial presentation of second quarter results on its website, www.genesco.com, in the investor relations section. The Company's live conference call on August 28, 2025, at 7:30 a.m. (Central time), may be accessed through the Company's website, www.genesco.com. To listen live, please go to the website at least 15 minutes early to register, download and install any necessary software.
Genesco to Present at the Goldman Sachs 32ndAnnual Global Retailing Conference
As previously announced, Genesco’s management team will present at the Goldman Sachs 32nd Annual Global Retailing Conference on Thursday, September 4, 2025 at 8:55 a.m.(Eastern Time). The audio portion of the presentation will be webcast live and may be accessed through the Company's internet website, http://www.genesco.com. To listen, please go to the website at least 15 minutes early to register, download and install any necessary software.
Safe Harbor Statement
This release contains forward-looking statements, including those regarding future sales, earnings, operating income, gross margins, expenses, capital expenditures, depreciation and amortization, tax rates, store openings and closures, cost reductions, and all other statements not addressing solely historical facts or present conditions. Forward-looking statements are usually identified by or are associated with such words as “intend,” “expect,” “feel,” “should,” “believe,” “anticipate,” “optimistic,” “confident” and similar terminology. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences. These include adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store and shopping mall traffic, the imposition of tariffs (including the timing and amount thereof) on product imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; our ability to pass on price increases to our customers; restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements, and limitations on the Company’s ability to adequately staff and operate stores. Differences from expectations could also result from store closures and effects on the business as a result of the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the Company’s 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; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; civil disturbances; our ability to renew our license agreements; impacts of the Russia-Ukraine war, and other sources of market weakness in the U.K. and Republic of Ireland; the effectiveness of the Company's omnichannel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and the U.K.; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets; risks related to the potential for terrorist events; risks related to public health and safety events; changes in buying patterns by significant wholesale customers; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor; 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; the Company’s ability to realize anticipated cost savings, including rent savings; the amount and timing of share repurchases; the Company’s ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of the Company's market value relative to its 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 the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems; changes in tax laws and tax rates and the Company’s ability to realize any anticipated tax benefits in both the amount and timeframe anticipated; and the cost and outcome of litigation, investigations, environmental matters and other disputes involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"
sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements.
About Genesco Inc.
Genesco Inc. (NYSE: GCO) is a footwear focused company with distinctively positioned retail and lifestyle brands and proven omnichannel capabilities offering customers the footwear they desire in engaging shopping environments, including more than 1,250 retail stores and branded e-commerce websites. Its Journeys, Little Burgundy and Schuh brands serve teens, kids and young adults with on-trend fashion footwear inspired by youth culture in the U.S., Canada and the U.K. Johnston & Murphy serves the successful, affluent men and women with premium footwear, apparel and accessories in the U.S. and Canada, and Genesco Brands Group sells branded lifestyle footwear to leading retailers under licensed brands including Wrangler, Dockers, Starter and PONY. Founded in 1924, Genesco is based in Nashville, Tennessee. For more information on Genesco and its operating divisions, please visit www.genesco.com.
Genesco Financial Contact Genesco Media Contact
Sandra Harris, SVP Finance, Chief Financial Officer Claire S. McCall
(615) 367-7578 (615) 367-8283
SHarris2@genesco.com cmccall@genesco.com
GENESCO INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
| Quarter 2 | Quarter 2 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2,<br>2025 | % of<br>Net Sales | August 3,<br>2024 | % of<br>Net Sales | |||||||||
| Net sales | $ | 545,965 | 100.0 | % | $ | 525,188 | 100.0 | % | ||||
| Cost of sales | 296,016 | 54.2 | % | 279,549 | 53.2 | % | ||||||
| Gross margin(1) | 249,949 | 45.8 | % | 245,639 | 46.8 | % | ||||||
| Selling and administrative expenses | 264,265 | 48.4 | % | 255,135 | 48.6 | % | ||||||
| Asset impairments and other, net(2) | 124 | 0.0 | % | 778 | 0.1 | % | ||||||
| Operating loss | (14,440 | ) | -2.6 | % | (10,274 | ) | -2.0 | % | ||||
| Other components of net periodic benefit cost | 148 | 0.0 | % | 86 | 0.0 | % | ||||||
| Interest expense, net | 1,459 | 0.3 | % | 1,345 | 0.3 | % | ||||||
| Loss from continuing operations before income taxes | (16,047 | ) | -2.9 | % | (11,705 | ) | -2.2 | % | ||||
| Income tax expense (benefit) | 2,409 | 0.4 | % | (1,776 | ) | -0.3 | % | |||||
| Loss from continuing operations | (18,456 | ) | -3.4 | % | (9,929 | ) | -1.9 | % | ||||
| Loss from discontinued operations, net of tax | (15 | ) | 0.0 | % | (63 | ) | 0.0 | % | ||||
| Net Loss | $ | (18,471 | ) | -3.4 | % | $ | (9,992 | ) | -1.9 | % | ||
| Basic loss per share: | ||||||||||||
| Before discontinued operations | $ | (1.79 | ) | $ | (0.91 | ) | ||||||
| Net loss | $ | (1.79 | ) | $ | (0.91 | ) | ||||||
| Diluted loss per share: | ||||||||||||
| Before discontinued operations | $ | (1.79 | ) | $ | (0.91 | ) | ||||||
| Net loss | $ | (1.79 | ) | $ | (0.91 | ) | ||||||
| Weighted-average shares outstanding: | ||||||||||||
| Basic | 10,294 | 10,942 | ||||||||||
| Diluted | 10,294 | 10,942 |
- Includes a $0.2 million gross margin charge in the second quarter of Fiscal 2025 related to a distribution model transition in Genesco Brands Group.
- Includes a $0.1 million charge in the second quarter of Fiscal 2026 for severance. Includes a $0.8 million charge in the second quarter of Fiscal 2025 which includes $0.7 million for severance and $0.1 million for asset impairments.
GENESCO INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
| Six Months Ended | Six Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2,<br>2025 | % of<br>Net Sales | August 3,<br>2024 | % of<br>Net Sales | |||||||||
| Net sales | $ | 1,019,938 | 100.0 | % | $ | 982,785 | 100.0 | % | ||||
| Cost of sales | 548,808 | 53.8 | % | 520,865 | 53.0 | % | ||||||
| Gross margin(1) | 471,130 | 46.2 | % | 461,920 | 47.0 | % | ||||||
| Selling and administrative expenses | 513,300 | 50.3 | % | 502,966 | 51.2 | % | ||||||
| Asset impairments and other, net(2) | 415 | 0.0 | % | 1,356 | 0.1 | % | ||||||
| Operating loss | (42,585 | ) | -4.2 | % | (42,402 | ) | -4.3 | % | ||||
| Other components of net periodic benefit cost | 328 | 0.0 | % | 195 | 0.0 | % | ||||||
| Interest expense, net | 2,798 | 0.3 | % | 2,235 | 0.2 | % | ||||||
| Loss from continuing operations before income taxes | (45,711 | ) | -4.5 | % | (44,832 | ) | -4.6 | % | ||||
| Income tax benefit | (6,043 | ) | -0.6 | % | (10,615 | ) | -1.1 | % | ||||
| Loss from continuing operations | (39,668 | ) | -3.9 | % | (34,217 | ) | -3.5 | % | ||||
| Loss from discontinued operations, net of tax | (30 | ) | 0.0 | % | (122 | ) | 0.0 | % | ||||
| Net Loss | $ | (39,698 | ) | -3.9 | % | $ | (34,339 | ) | -3.5 | % | ||
| Basic loss per share: | ||||||||||||
| Before discontinued operations | $ | (3.82 | ) | $ | (3.13 | ) | ||||||
| Net loss | $ | (3.82 | ) | $ | (3.14 | ) | ||||||
| Diluted loss per share: | ||||||||||||
| Before discontinued operations | $ | (3.82 | ) | $ | (3.13 | ) | ||||||
| Net loss | $ | (3.82 | ) | $ | (3.14 | ) | ||||||
| Weighted-average shares outstanding: | ||||||||||||
| Basic | 10,394 | 10,936 | ||||||||||
| Diluted | 10,394 | 10,936 |
- Includes a $1.8 million gross margin charge in the first six months of Fiscal 2025 related to a distribution model transition in Genesco Brands Group.
- Includes a $0.4 million charge in the first six months of Fiscal 2026 for severance. Includes a $1.4 million charge in the first six months of Fiscal 2025 which includes $1.0 million for severance and $0.4 million for asset impairments.
GENESCO INC.
Sales/Earnings Summary by Segment
(in thousands)
(Unaudited)
| Quarter 2 | Quarter 2 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2,<br>2025 | % of<br>Net Sales | August 3,<br>2024 | % of<br>Net Sales | |||||||||
| Sales: | ||||||||||||
| Journeys Group | $ | 318,189 | 58.3 | % | $ | 298,846 | 56.9 | % | ||||
| Schuh Group | 126,595 | 23.2 | % | 124,561 | 23.7 | % | ||||||
| Johnston & Murphy Group | 68,789 | 12.6 | % | 71,037 | 13.5 | % | ||||||
| Genesco Brands Group | 32,392 | 5.9 | % | 30,744 | 5.9 | % | ||||||
| Net Sales | $ | 545,965 | 100.0 | % | $ | 525,188 | 100.0 | % | ||||
| Operating income (loss): | ||||||||||||
| Journeys Group | $ | (4,999 | ) | -1.6 | % | $ | (11,151 | ) | -3.7 | % | ||
| Schuh Group | (11 | ) | 0.0 | % | 7,339 | 5.9 | % | |||||
| Johnston & Murphy Group | (1,782 | ) | -2.6 | % | (403 | ) | -0.6 | % | ||||
| Genesco Brands Group(1) | 653 | 2.0 | % | 2,672 | 8.7 | % | ||||||
| Corporate and Other(2) | (8,301 | ) | -1.5 | % | (8,731 | ) | -1.7 | % | ||||
| Operating loss | (14,440 | ) | -2.6 | % | (10,274 | ) | -2.0 | % | ||||
| Other components of net periodic benefit cost | 148 | 0.0 | % | 86 | 0.0 | % | ||||||
| Interest, net | 1,459 | 0.3 | % | 1,345 | 0.3 | % | ||||||
| Loss from continuing operations before income taxes | (16,047 | ) | -2.9 | % | (11,705 | ) | -2.2 | % | ||||
| Income tax expense (benefit) | 2,409 | 0.4 | % | (1,776 | ) | -0.3 | % | |||||
| Loss from continuing operations | (18,456 | ) | -3.4 | % | (9,929 | ) | -1.9 | % | ||||
| Loss from discontinued operations, net of tax | (15 | ) | 0.0 | % | (63 | ) | 0.0 | % | ||||
| Net Loss | $ | (18,471 | ) | -3.4 | % | $ | (9,992 | ) | -1.9 | % |
- Includes a $0.2 million gross margin charge in the second quarter of Fiscal 2025 related to a distribution model transition in Genesco Brands Group.
- Includes a $0.1 million charge in the second quarter of Fiscal 2026 for severance. Includes a $0.8 million charge in the second quarter of Fiscal 2025 which includes $0.7 million for severance and $0.1 million for asset impairments.
GENESCO INC.
Sales/Earnings Summary by Segment
(in thousands)
(Unaudited)
| Six Months Ended | Six Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2,<br>2025 | % of<br>Net Sales | August 3,<br>2024 | % of<br>Net Sales | |||||||||
| Sales: | ||||||||||||
| Journeys Group | $ | 590,823 | 57.9 | % | $ | 558,291 | 56.8 | % | ||||
| Schuh Group | 222,510 | 21.8 | % | 216,910 | 22.1 | % | ||||||
| Johnston & Murphy Group | 145,628 | 14.3 | % | 150,244 | 15.3 | % | ||||||
| Genesco Brands Group | 60,977 | 6.0 | % | 57,340 | 5.8 | % | ||||||
| Net Sales | $ | 1,019,938 | 100.0 | % | $ | 982,785 | 100.0 | % | ||||
| Operating Income (Loss): | ||||||||||||
| Journeys Group | $ | (20,282 | ) | -3.4 | % | $ | (29,973 | ) | -5.4 | % | ||
| Schuh Group | (6,142 | ) | -2.8 | % | 1,443 | 0.7 | % | |||||
| Johnston & Murphy Group | (1,282 | ) | -0.9 | % | 1,952 | 1.3 | % | |||||
| Genesco Brands Group(1) | 1,351 | 2.2 | % | 1,686 | 2.9 | % | ||||||
| Corporate and Other(2) | (16,230 | ) | -1.6 | % | (17,510 | ) | -1.8 | % | ||||
| Operating loss | (42,585 | ) | -4.2 | % | (42,402 | ) | -4.3 | % | ||||
| Other components of net periodic benefit cost | 328 | 0.0 | % | 195 | 0.0 | % | ||||||
| Interest, net | 2,798 | 0.3 | % | 2,235 | 0.2 | % | ||||||
| Loss from continuing operations before income taxes | (45,711 | ) | -4.5 | % | (44,832 | ) | -4.6 | % | ||||
| Income tax benefit | (6,043 | ) | -0.6 | % | (10,615 | ) | -1.1 | % | ||||
| Loss from continuing operations | (39,668 | ) | -3.9 | % | (34,217 | ) | -3.5 | % | ||||
| Loss from discontinued operations, net of tax | (30 | ) | 0.0 | % | (122 | ) | 0.0 | % | ||||
| Net Loss | $ | (39,698 | ) | -3.9 | % | $ | (34,339 | ) | -3.5 | % |
- Includes a $1.8 million gross margin charge in the first six months of Fiscal 2025 related to a distribution model transition in Genesco Brands Group.
- Includes a $0.4 million charge in the first six months of Fiscal 2026 for severance. Includes a $1.4 million charge in the first six months of Fiscal 2025 which includes $1.0 million for severance and $0.4 million for asset impairments.
GENESCO INC.
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
| August 2, 2025 | August 3, 2024 | |||
|---|---|---|---|---|
| Assets | ||||
| Cash | $ | 40,989 | $ | 45,855 |
| Accounts receivable | 54,322 | 57,497 | ||
| Inventories | 501,008 | 450,187 | ||
| Other current assets | 49,572 | 53,181 | ||
| Total current assets | 645,891 | 606,720 | ||
| Property and equipment | 238,626 | 229,116 | ||
| Operating lease right of use assets | 475,221 | 402,715 | ||
| Goodwill and other intangibles | 36,744 | 36,446 | ||
| Non-current prepaid income taxes | — | 58,051 | ||
| Other non-current assets | 25,443 | 50,703 | ||
| Total Assets | $ | 1,421,925 | $ | 1,383,751 |
| Liabilities and Equity | ||||
| Accounts payable | $ | 193,016 | $ | 187,439 |
| Current portion long-term debt | 13,275 | — | ||
| Current portion operating lease liabilities | 123,106 | 122,527 | ||
| Other current liabilities | 84,958 | 85,697 | ||
| Total current liabilities | 414,355 | 395,663 | ||
| Long-term debt | 57,677 | 77,839 | ||
| Long-term operating lease liabilities | 395,186 | 329,773 | ||
| Other long-term liabilities | 48,335 | 47,854 | ||
| Equity | 506,372 | 532,622 | ||
| Total Liabilities and Equity | $ | 1,421,925 | $ | 1,383,751 |
GENESCO INC.
Store Count Activity
| Balance<br>02/03/24 | Open | Close | Balance<br>02/01/25 | Open | Close | Balance<br>08/02/25 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Journeys Group | 1,063 | 7 | 64 | 1,006 | 6 | 28 | 984 | |||||||
| Schuh Group | 122 | 4 | 2 | 124 | 1 | 5 | 120 | |||||||
| Johnston & Murphy Group | 156 | 1 | 9 | 148 | 6 | 5 | 149 | |||||||
| Total Retail Stores | 1,341 | 12 | 75 | 1,278 | 13 | 38 | 1,253 | |||||||
| Balance<br>05/03/25 | Open | Close | Balance<br>08/02/25 | |||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||
| Journeys Group | 989 | 4 | 9 | 984 | ||||||||||
| Schuh Group | 121 | 1 | 2 | 120 | ||||||||||
| Johnston & Murphy Group | 146 | 4 | 1 | 149 | ||||||||||
| Total Retail Stores | 1,256 | 9 | 12 | 1,253 |
GENESCO INC.
Comparable Sales
| Quarter 2 | Six Months | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2,<br>2025 | August 3,<br>2024 | August 2,<br>2025 | August 3,<br>2024 | |||||||||
| Journeys Group | 9 | % | -1 | % | 9 | % | -3 | % | ||||
| Schuh Group | -4 | % | -2 | % | -2 | % | -4 | % | ||||
| Johnston & Murphy Group | 1 | % | -5 | % | 0 | % | -4 | % | ||||
| Total Comparable Sales | 4 | % | -2 | % | 5 | % | -3 | % | ||||
| Same Store Sales | 5 | % | -4 | % | 5 | % | -6 | % | ||||
| Comparable E-commerce Sales | 1 | % | 8 | % | 4 | % | 6 | % |
Schedule B
Genesco Inc.
Adjustments to Reported Loss from Continuing Operations
Three Months Ended August 2, 2025 and August 3, 2024
The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.
| Quarter 2 | Quarter 2 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2, 2025 | August 3, 2024 | |||||||||||||||
| In Thousands (except per share amounts) | Pretax | Net of<br>Tax | Per Share<br>Amounts | Pretax | Net of<br>Tax | Per Share<br>Amounts | ||||||||||
| Loss from continuing operations, as reported | $ | (18,456 | ) | $ | (1.79 | ) | $ | (9,929 | ) | $ | (0.91 | ) | ||||
| Gross margin adjustment: | ||||||||||||||||
| Charges related to distribution model transition | $ | — | — | 0.00 | $ | 169 | 176 | 0.02 | ||||||||
| Asset impairments and other adjustments: | ||||||||||||||||
| Asset impairment charges | $ | — | — | 0.00 | $ | 116 | 95 | 0.01 | ||||||||
| Severance | 124 | 88 | 0.00 | 662 | 512 | 0.05 | ||||||||||
| Total asset impairments and other adjustments | $ | 124 | 88 | 0.00 | $ | 778 | 607 | 0.06 | ||||||||
| Income tax expense adjustments: | ||||||||||||||||
| Tax impact share based awards | (139 | ) | (0.01 | ) | 592 | 0.05 | ||||||||||
| One big beautiful bill impact | 6,849 | 0.66 | — | 0.00 | ||||||||||||
| Other tax items | (50 | ) | 0.00 | (577 | ) | (0.05 | ) | |||||||||
| Total income tax expense adjustments | 6,660 | 0.65 | 15 | 0.00 | ||||||||||||
| Adjusted loss from continuing operations (1) and (2) | $ | (11,708 | ) | (1.14 | ) | $ | (9,131 | ) | (0.83 | ) |
- The adjusted tax rate for the second quarter of Fiscal 2026 and 2025 is 26.5% and 15.1%, respectively.
- EPS reflects 10.3 million and 10.9 million share count for the second quarter of Fiscal 2026 and 2025, respectively, which excludes common stock equivalents in both periods due to the loss from continuing operations.
Schedule B
Genesco Inc.
Adjustments to Reported Loss from Continuing Operations
Six Months Ended August 2, 2025 and August 3, 2024
The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.
| Six Months | Six Months | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2, 2025 | August 3, 2024 | |||||||||||||||
| In Thousands (except per share amounts) | Pretax | Net of Tax | Per Share<br>Amounts | Pretax | Net of Tax | Per Share<br>Amounts | ||||||||||
| Loss from continuing operations, as reported | $ | (39,668 | ) | $ | (3.82 | ) | $ | (34,217 | ) | $ | (3.13 | ) | ||||
| Gross margin adjustment: | ||||||||||||||||
| Charges related to distribution model transition | $ | — | — | 0.00 | $ | 1,750 | 1,327 | 0.12 | ||||||||
| Asset impairments and other adjustments: | ||||||||||||||||
| Asset impairment charges | $ | 34 | 24 | 0.00 | $ | 360 | 273 | 0.02 | ||||||||
| Severance | 381 | 273 | 0.03 | 996 | 755 | 0.07 | ||||||||||
| Total asset impairments and other adjustments | $ | 415 | 297 | 0.03 | $ | 1,356 | 1,028 | 0.09 | ||||||||
| Income tax expense adjustments: | ||||||||||||||||
| Tax impact share based awards | — | 0.00 | 722 | 0.07 | ||||||||||||
| One big beautiful bill impact | 6,849 | 0.66 | — | 0.00 | ||||||||||||
| Other tax items | (716 | ) | (0.07 | ) | (922 | ) | (0.08 | ) | ||||||||
| Total income tax expense adjustments | 6,133 | 0.59 | (200 | ) | (0.01 | ) | ||||||||||
| Adjusted loss from continuing operations (1) and (2) | $ | (33,238 | ) | $ | (3.20 | ) | $ | (32,062 | ) | $ | (2.93 | ) |
- The adjusted tax rate for the first six months of Fiscal 2026 and 2025 is 26.6% and 23.2%, respectively.
- EPS reflects 10.4 million and 10.9 million share count for the first six months of Fiscal 2026 and 2025, respectively, which excludes common stock equivalents in both periods due to the loss from continuing operations.
Schedule B
Genesco Inc.
Adjustments to Reported Operating Income (Loss) and Gross Margin
Three Months Ended August 2, 2025 and August 3, 2024
| Quarter 2 - August 2, 2025 | ||||||||
|---|---|---|---|---|---|---|---|---|
| In Thousands | Operating<br>Income (Loss) | Asset Impair <br>& Other Adj | Adj Operating<br>Income (Loss) | |||||
| Journeys Group | $ | (4,999 | ) | $ | — | $ | (4,999 | ) |
| Schuh Group | (11 | ) | — | (11 | ) | |||
| Johnston & Murphy Group | (1,782 | ) | — | (1,782 | ) | |||
| Genesco Brands Group | 653 | — | 653 | |||||
| Corporate and Other | (8,301 | ) | 124 | (8,177 | ) | |||
| Total Operating Loss | $ | (14,440 | ) | $ | 124 | $ | (14,316 | ) |
| % of sales | -2.6 | % | -2.6 | % | ||||
| Depreciation and amortization | 13,474 | |||||||
| Adjusted loss before interest, taxes, depreciation and amortization ("EBITDA")(1) | $ | (842 | ) | |||||
| % of sales | -0.2 | % | ||||||
| Quarter 2 - August 3, 2024 | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| In Thousands | Operating<br>Income (Loss) | Asset Impair <br>& Other Adj | Adj Operating<br>Income (Loss) | |||||
| Journeys Group | $ | (11,151 | ) | $ | — | $ | (11,151 | ) |
| Schuh Group | 7,339 | — | 7,339 | |||||
| Johnston & Murphy Group | (403 | ) | — | (403 | ) | |||
| Genesco Brands Group | 2,672 | 169 | 2,841 | |||||
| Corporate and Other | (8,731 | ) | 778 | (7,953 | ) | |||
| Total Operating Loss | $ | (10,274 | ) | $ | 947 | $ | (9,327 | ) |
| % of sales | -2.0 | % | -1.8 | % | ||||
| Depreciation and amortization | 13,169 | |||||||
| Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")(1) | $ | 3,842 | ||||||
| % of sales | 0.7 | % |
(1)Excludes "Other components of net periodic benefit cost" line item on the Consolidated Statements of Operations.
| Quarter 2 | ||||||
|---|---|---|---|---|---|---|
| In Thousands | August 2, 2025 | August 3, 2024 | ||||
| Gross margin, as reported | $ | 249,949 | $ | 245,639 | ||
| % of sales | 45.8 | % | 46.8 | % | ||
| Charges related to distribution model transition | — | 169 | ||||
| Total adjustments | — | 169 | ||||
| Adjusted gross margin | $ | 249,949 | $ | 245,808 | ||
| % of sales | 45.8 | % | 46.8 | % |
Schedule B
Genesco Inc.
Adjustments to Reported Operating Income (Loss) and Gross Margin
Six Months Ended August 2, 2025 and August 3, 2024
| Six Months - August 2, 2025 | ||||||||
|---|---|---|---|---|---|---|---|---|
| In Thousands | Operating<br>Income (Loss) | Asset Impair <br>& Other Adj | Adj Operating<br>Income (Loss) | |||||
| Journeys Group | $ | (20,282 | ) | $ | — | $ | (20,282 | ) |
| Schuh Group | (6,142 | ) | — | (6,142 | ) | |||
| Johnston & Murphy Group | (1,282 | ) | — | (1,282 | ) | |||
| Genesco Brands Group | 1,351 | — | 1,351 | |||||
| Corporate and Other | (16,230 | ) | 415 | (15,815 | ) | |||
| Total Operating Loss | $ | (42,585 | ) | $ | 415 | $ | (42,170 | ) |
| % of sales | -4.2 | % | -4.1 | % | ||||
| Depreciation and amortization | 26,867 | |||||||
| Adjusted loss before interest, taxes, depreciation and amortization ("EBITDA")(1) | $ | (15,303 | ) | |||||
| % of sales | -1.5 | % | ||||||
| Six Months - August 3, 2024 | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| In Thousands | Operating<br>Income (Loss) | Asset Impair <br>& Other Adj | Adj Operating<br>Income (Loss) | |||||
| Journeys Group | $ | (29,973 | ) | $ | — | $ | (29,973 | ) |
| Schuh Group | 1,443 | — | 1,443 | |||||
| Johnston & Murphy Group | 1,952 | — | 1,952 | |||||
| Genesco Brands Group | 1,686 | 1,750 | 3,436 | |||||
| Corporate and Other | (17,510 | ) | 1,356 | (16,154 | ) | |||
| Total Operating Loss | $ | (42,402 | ) | $ | 3,106 | $ | (39,296 | ) |
| % of sales | -4.3 | % | -4.0 | % | ||||
| Depreciation and amortization | 26,406 | |||||||
| Adjusted loss before interest, taxes, depreciation and amortization ("EBITDA")(1) | $ | (12,890 | ) | |||||
| % of sales | -1.3 | % |
(1)Excludes "Other components of net periodic benefit cost" line item on the Consolidated Statements of Operations.
| Six Months | ||||||
|---|---|---|---|---|---|---|
| In Thousands | August 2, 2025 | August 3, 2024 | ||||
| Gross margin, as reported | $ | 471,130 | $ | 461,920 | ||
| % of sales | 46.2 | % | 47.0 | % | ||
| Charges related to distribution model transition | — | 1,750 | ||||
| Total adjustments | — | 1,750 | ||||
| Adjusted gross margin | $ | 471,130 | $ | 463,670 | ||
| % of sales | 46.2 | % | 47.2 | % |
Schedule B
Genesco Inc.
Adjustments to Forecasted Earnings from Continuing Operations
Fiscal Year Ending January 31, 2026
| In millions (except per share amounts) | High Guidance Fiscal 2026 | Low Guidance Fiscal 2026 | ||||||
|---|---|---|---|---|---|---|---|---|
| Net of Tax | Per Share | Net of Tax | Per Share | |||||
| Forecasted earnings from continuing operations | $ | 17.1 | $ | 1.62 | $ | 12.6 | $ | 1.19 |
| Asset impairments and other adjustments: | ||||||||
| Asset impairments and other matters | 0.8 | 0.08 | 1.2 | 0.11 | ||||
| Total asset impairments and other adjustments (1) | 0.8 | 0.08 | 1.2 | 0.11 | ||||
| Adjusted forecasted earnings from continuing operations (2) | $ | 17.9 | $ | 1.70 | $ | 13.8 | $ | 1.30 |
- All adjustments are net of tax where applicable. The forecasted tax rate for Fiscal 2026 is approximately 29%.
- EPS reflects 10.6 million share count for Fiscal 2026 which includes common stock equivalents.
This reconciliation reflects estimates and current expectations of future results. Actual results may vary materially from these expectations and estimates, for reasons including those included in the discussion of forward-looking statements elsewhere in this release. The Company disclaims any obligation to update such expectations and estimates.
FY26 Q2 GENESCO Summary Results • August 28, 2025 Exhibit 99.2
This presentation contains forward-looking statements, including those regarding future sales, earnings, operating income, gross margins, expenses, capital expenditures, depreciation and amortization, tax rates, store openings and closures, cost reductions, and all other statements not addressing solely historical facts or present conditions. Forward-looking statements are usually identified by or are associated with such words as “intend,” “expect,” “feel,” “should,” “believe,” “anticipate,” “optimistic,” “confident” and similar terminology. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences. These include adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store and shopping mall traffic, the imposition of tariffs (including the timing and amount thereof) on product imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; our ability to pass on price increases to our customers; restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements, and limitations on the Company’s ability to adequately staff and operate stores. Differences from expectations could also result from store closures and effects on the business as a result of the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the Company’s 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; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; civil disturbances; our ability to renew our license agreements; impacts of the Russia-Ukraine war, and other sources of market weakness in the U.K. and Republic of Ireland; the effectiveness of the Company's omnichannel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and the U.K.; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets; risks related to the potential for terrorist events; risks related to public health and safety events; changes in buying patterns by significant wholesale customers; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor; 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; the Company’s ability to realize anticipated cost savings, including rent savings; the amount and timing of share repurchases; the Company’s ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of the Company's market value relative to its 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 the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems; changes in tax laws and tax rates and the Company’s ability to realize any anticipated tax benefits in both the amount and timeframe anticipated; and the cost and outcome of litigation, investigations, environmental matters and other disputes involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements. Safe Harbor Statement
We report consolidated financial results in accordance with generally accepted accounting principles (“GAAP”). However, to supplement these consolidated financial results our presentation includes certain non-GAAP financial measures such as earnings (loss) and earnings (loss) per share and operating income (loss). This supplemental information should not be considered in isolation as a substitute for related GAAP measures. We believe that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results. Reconciliations of the non-GAAP supplemental information to the comparable GAAP measures can be found in the Appendix. Non-GAAP • Financial Measures
Q2 FY26 Financial Snapshot SALES $546M Up 4% vs Q2 FY2025 with e-commerce 22% of retail sales GROSS MARGIN 45.8% Down 100 bps vs Q2 FY2025 SG&A $264M 48.4% of sales and 20 bps leverage vs Q2 FY2025 COMPS +4% Stores E-commerce Journeys +5% +1% +9% GAAP EPS ($1.79) Non-GAAP EPS ($1.14) GAAP OI ($14.4M) Non-GAAP OI ($14.3M)
Positive comps fueled both top and bottom-line results above expectations Overall comps grew 4%, marking the fourth consecutive quarter of positive comps for the company and for Journeys with 9% comp growth in the second quarter Both store and digital channels posted positive growth with stores up 5% Higher sales and better expense leverage helped offset tariffs and more promotional pressure in the U.K. market Johnston & Murphy returned to positive comps Investments in loyalty and marketing campaigns, along with Journeys 4.0 and other remodels supported sales growth in the second quarter Journeys comps up double digits third quarter to date on top of double-digit comps last year Company reiterates full-year EPS outlook inclusive of tariffs, raises sales Q2 FY26 • Highlights
Our Footwear Focused Vision & Strategy OUR ASPIRATION Create and curate leading footwear brands that represent style, innovation and self-expression; be the destination for our consumers’ favorite fashion footwear HOW WE WILL ACHIEVE IT Build enduring relationships with our target customers, grounded in unparalleled consumer and market insights Deliver exciting, distinctive products and experiences across physical and digital
OUR PLATFORMS ENABLE THE STRATEGY UNITED BY DTC CAPABILITIES Our Footwear Focused Vision & Strategy Strategic Initiatives/Pillars RETAIL PLATFORM The destination for young adult and teen fashion footwear and partner of choice for leading global brands 6 2 3 5 ACCELERATE DIGITAL 1 MAXIMIZE PHYSICAL & DIGITAL DEEPEN CONSUMER INSIGHTS RESHAPE & REINVEST COST BASE PURSUE GROWTH & ACQUISITIONS Portfolio of leading owned and licensed brands BRANDED PLATFORM 4 INTENSIFY PRODUCT INNOVATION
What is Journeys Strategic Growth Plan? Multi-Brand, multi-category offering to inspire the journey from one you to the next
Unique Consumer Positioning There is white space in the market for Journeys to expand its reach amongst teens with a sharp focus on females STYLE-LED FOOTWEAR DESTINATION
Expand Consumer Segmentation We have sharpened our consumer focus, targeting three consumer segments reaching a wider teen audience. @ANTI-HERO Independent Heritage Journeys consumer Self-expression @STYLECHASER What’s cool & fashionable More mainstream Later trend adopters @DYNAMICEXPLORER Many different styles What’s new & next Seeks latest trend Journeys Today Journeys Future Hold Accelerate Validate 6 to 7 TIMES BIGGER TOTAL ADDRESSABLE MARKET (TAM)
Key Strategies Elevate Our Customer Experience Invest In Our Journeys Brand Diversify Our Footwear Leadership
Strengthen strategic partnership with lead brands Build athletic as third pillar of assortment with casual & canvas Sharp focus on the teen girl as a differentiator Drive ASP growth through outpaced premium product growth Establish incubation strategy for new brand and new model launches Evolve the assortment to become a leading footwear destination and create sustainable growth. Unique Consumer Positioning Elevate our product to lead across multi-categories
House of brands Singular focus on Anti-Hero Over reliance on tactical marketing Product only campaigns Minimal use of social media FROM Branded house Expanded segmentation More balanced, full funnel and brand approach Product AND brand Double down on social Reenergize the Journeys brand, making it the ultimate destination for discovery to reach and excite the next generation of fans TO Invest In The Journeys Brand Evolve the marketing strategy to engage teen consumer target
All serving our consumer segments and new consumers All delivering on our premium style led footwear destination 4.0 stores: Modular and flexible designs, enhanced visuals and storytelling, footwear focused, digital integration, connected with our heritage. Elevate Our Customer Experience Refresh our consumer touch points to fuel discovery 4.0 – Next generation store concept to support our strategy Store Website Social
FINANCIALS
Q2 FY26 • Key Earnings Highlights
6mos FY26 • Key Earnings Highlights
Q2 FY26 Capital Allocation Snapshot TOTAL LIQUIDITY ~$322M Liquidity is comprised of cash and borrowing available under bank facilities INVENTORY $501M +11% vs Q2 FY2025 CAPITAL EXPENDITURES $15M ~80% allocated to stores ~20% to other STORE COUNT 1,253 9 12 Opened Closed SHARE REPURCHASES $0M $30M remaining under current authorization JOURNEYS 4.0 18 remodels 57 total remodels to date 75+ by end of year
% of Retail Sales (2) 31% 25% 22% 22% 24% 25% 4% 11% FY26 • Strong Digital Growth (1) 52-week period for trailing twelve months ended August 2, 2025 and 53-week period for trailing twelve months ended August 3, 2024. (2) Retail sales represent combined store sales and e-commerce sales
Q2 FY26 Net Sales $546.0 Million Journeys Schuh Johnston & Murphy Group Genesco Brands Group Q2 FY26 Sales by Segment
Q2 & Proj 12 mos FY26 • Retail Store Summary
FY26 • Outlook (1) Reiterates FY26 EPS Outlook, Raises Sales: Additional color on anticipated sales growth by business: Journeys: Mid-single digit percentage increase (vs. previous low-single digit increase) schuh: Low-single digit percentage increase Johnston & Murphy: Low-single digit percentage increase Genesco Brands Group: High-single digit percentage decrease
APPENDIX
Q2 FY26 • Adjusted Operating Income (Loss) Statement (1)
6mos FY26 • Adjusted Operating Income (Loss) Statement (1)
Q2 FY26 • Non-GAAP Reconciliation
6mos FY26 • Non-GAAP Reconciliation
Q2 FY26 • Adjusted Gross Margin
6mos FY26 • Adjusted Gross Margin
FY26 Q2 GENESCO Summary Results • August 28, 2025