Genesco Inc. · NYSE:GCO
Genesco — Q1 FY2020 Earnings Presentation
17 slides from Genesco's earnings presentation, May 31, 2019
Slide 1: FY20 First Quarter
FY20 First Quarter ep Bh cel ey LITTLE $5 io Seas BURGUNDY Rv TRASK schuh JOHNSTON & MURPHY. GENESCO ‘3
Slide 2: Genesco Inc. FY20 Q1 Earnings Summary Results and Guidance
Genesco Inc. FY20 Q1 Earnings Summary Results and Guidance May 31, 2019
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements, including those regarding the performance outlook for the Company and its individual businesses (including, without limitation, sales, expenses, margins and earnings) and all other statements not addressing solely historica
Slide 4: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company reports consolidated financial results in accordance with generally accepted accounting principles (“GAAP”). However, to supplement these consolidated financial results the Company’s presentation includes certain non-GAAP financial measures such as earnings an
Slide 5: Key Earnings Highlights Q1 FY20
Key Earnings Highlights Q1 FY20 Quarter 1 Quarter 1 May 4, 2019 May 5, 2018 Total Net Sales Change 2% 4% Comparable Sales 5% 2% Gross Margin % 49.4% 49.0% Selling and Admin. Expenses % 47.7% 48.0% Operating Income % (1) GAAP 1.8% 0.8% Non-GAAP 1.7% 1.0% Earnings per Diluted Share (1) GAAP $0.36 $0.1
Slide 6: Comparable Sales Q1 FY20
Comparable Sales Q1 FY20 Quarter 1 May 4, May 5, 2019 2018 Journeys Group 7% 6% Schuh Group 2% (13)% Johnston & Murphy Group 0% 7% Total Comparable Sales 5% 2% Same Store Sales 4% 1% Comparable Direct Sales 15% 10% 6
Slide 7: Sales by Segment Q1 FY20 and FY19
Sales by Segment Q1 FY20 and FY19 Net Sales $495.7 million Net Sales $486.2 million 4% FY20 FY19 5% 15% Journeys Group 16% Journeys Group Schuh Group Schuh Group 16% Johnston & Murphy Johnston & Murphy Group 17% Group 65% 63% Licensed Brands Licensed Brands 7
Slide 8: Adjusted Operating Income by Segment Q1 FY20
Adjusted Operating Income by Segment Q1 FY20(1) ($ in millions) Quarter 1 - May 4, 2019 Quarter 1 - May 5, 2018 Oper Inc Adj Oper Oper Inc Adj Oper (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ 19.0 $ - $ 19.0 $ 13.0 $ - $ 13.0 Schuh Group (5.4) - (5.4) (5.6) - (5.6) Johnston &
Slide 9: Inventory/Sales Change by Segment Q1 FY20
Inventory/Sales Change by Segment Q1 FY20 ($ in millions) May 4, 2019 Q1 FY20 Segment Inventory/Sales Inventory Sales Journeys Group -2% 6% Schuh Group (1) -8% 3% Johnston & Murphy Group 2% -1% Licensed Brands -35% -17% Total $ 368 $ 496 % Change from prior year -4% 2% (1) On a constant currency bas
Slide 10: Retail Stores Summary Q1 FY20
Retail Stores Summary Q1 FY20 Feb. 2, May 4, 2019 Open Close 2019 Journeys Group 1,193 1 6 1,188 Journeys stores (U.S.) 867 - 4 863 Journeys stores (Canada) 46 - - 46 Journeys Kidz stores 239 1 1 239 Little Burgundy 41 - 1 40 Schuh Group 136 1 1 136 Johnston & Murphy Group 183 1 4 180 Total Stores 1
Slide 11: Retail Square Footage Q1 FY20
Retail Square Footage Q1 FY20 Square feet in thousands Feb. 2, Net May 4, Square Footage: 2019 Change 2019 % Change Journeys Group 2,347 (8) 2,339 -0.3% Schuh Group 664 - 664 0.0% Johnston & Murphy Group 347 (3) 344 -0.9% Total Square Footage 3,358 (11) 3,347 -0.3% Year over year change in retail in
Slide 12: FY20 Outlook
FY20 Outlook(1) Note: See earnings call transcript for important details regarding guidance assumptions $3.35 - $3.75 per share, expectations Non-GAAP EPS near high-point Total Sales (1%) to +1% Comparable Sales +1 to +2% Gross Margin 10 to 20 basis point improvement SG&A Expense 40 to 60 basis poin
Slide 13: FY20 Comparable Sales Guidance
FY20 Comparable Sales Guidance Actual Guidance Guidance Guidance Guidance Q1 Q2 Q3 Q4 FY20 Journeys Group 7% 1 - 2% 1 - 2% 1 - 2% 2 - 3% Schuh Group 2% (5) - (2)% (4) - (1)% (4) - (1)% (3) - (1)% Johnston & Murphy Group 0% 1 - 2% 1 - 2% 1 - 2% 1 - 2% Total Genesco 5% 0 - 2% 1 - 2% 1 - 2% 1 - 2% 13
Slide 14: FY20 Projected Retail Store Count
FY20 Projected Retail Store Count Actual Proj Proj Proj 2019 Open Close 2020 Journeys Group 1,193 20 28 1,185 Journeys stores (U.S.) 867 8 24 851 Journeys stores (Canada) 46 - - 46 Journeys Kidz stores 239 12 3 248 Little Burgundy 41 - 1 40 Schuh Group 136 3 8 131 Johnston & Murphy Group 183 8 5 186
Slide 15: FY20 Projected Capital Spending
FY20 Projected Capital Spending Projected FY20 Cap Ex $45 million 42% New Stores & Remodels 58% Omni-channel, IT, DC & Other 15
Slide 16: Appendix
GENESCO S Appendix a LITTLE BURGUNDY Re TRASK schuh JOHNSTON & MURPHY.
Slide 17: Non-GAAP Reconciliation – Q1 FY20
Non-GAAP Reconciliation – Q1 FY20 Quarter 1 May 4, 2019 May 5, 2018 Net of Per Share Net of Per Share In Thousands (except per share amounts) Pretax Tax Amounts Pretax Tax Amounts Earnings from continuing operations, as reported $ 6,470 $ 0.36 $ 1,856 $ 0.10 Asset impairments and other adjustments: