Genesco Inc. · NYSE:GCO
Genesco — Q1 FY2019 Earnings Presentation
17 slides from Genesco's earnings presentation, Jun 5, 2018
Slide 1: Genesco FY19 First Quarter
GENESCO yer Cschuh} Lids Sports Group JOHNSTON & MURPHY. 3 FY19 First Quarter
Slide 2: Genesco Inc. FY19 Q1 Earnings Supplemental Material
Genesco Inc. FY19 Q1 Earnings Supplemental Material June 5, 2018
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 FY19
Key Earnings Highlights Q1 FY19 Three Months Ended Three Months Ended May 5, 2018 April 29, 2017 GCO Net Sales Change 0% (1)% Comparable Sales (1)% (1)% Gross Margin % 49.9% 49.6% Selling and Admin. Expenses % 49.9% 49.1% Operating Income (Loss) % (1) GAAP (0.3)% 0.4% Non-GAAP 0.0% 0.5% Earnings (Lo
Slide 6: Comparable Sales Q1 FY19
Comparable Sales Q1 FY19 Three Months Ended May 5, Apr. 29, 2018 2017 Journeys Group 6% (5)% Schuh Group (13)% 10% Lids Sports Group (7)% 1% Johnston & Murphy Group 7% (3)% Total Comparable Sales (1)% (1)% Same Store Sales (2)% (4)% Comparable Direct Sales 10% 28% 6
Slide 7: Sales by Segment Q1 FY19
Sales by Segment Q1 FY19 Net Sales $645.0 million 4% Journeys Group 12% Schuh Group 47% Lids Sports Group 25% Johnston & Murphy Group Licensed Brands 12% 7
Slide 8: Adjusted Operating Income by Segment Q1 FY19
Adjusted Operating Income by Segment Q1 FY19 (1) $ in millions Three Months Ended May 5, 2018 Three Months Ended April 29, 2017 Oper Inc Adj Oper Oper Inc Adj Oper (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ 13.6 $ - $ 13.6 $ 7.5 $ - $ 7.5 Schuh Group (5.6) - (5.6) (0.7) - (0.
Slide 9: Inventory by Segment Q1 FY19
Inventory by Segment Q1 FY19 $ in millions May 5, 2018 Total Inventory $ 552 % Change from prior year -4% Retail Segment Inventory Journeys Group -5% Schuh Group (1) 8% Lids Sports Group -10% Johnston & Murphy Group -1% Licensed Brands -15% (1) On a constant currency basis. 9
Slide 10: Retail Stores Summary Q1 FY19
Retail Stores Summary Q1 FY19 Feb. 3, May 5, 2018 Open Close 2018 Journeys Group 1,220 10 9 1,221 Journeys stores (U.S.) 893 4 6 891 Journeys stores (Canada) 46 - - 46 Journeys Kidz stores 242 5 2 245 Little Burgundy 39 1 1 39 Schuh Group 134 4 2 136 Lids Sports Group 1,159 6 24 1,141 Lids hat store
Slide 11: Retail Square Footage Q1 FY19
Retail Square Footage Q1 FY19 Square feet in thousands Apr. 29, Net May 5, Square Footage: 2017 Change 2018 % Change Journeys Group 2,440 (46) 2,394 -1.9% Schuh Group 628 34 662 5.4% Lids Sports Group 1,424 (83) 1,341 -5.8% Johnston & Murphy Group 338 10 348 3.0% Total Square Footage 4,830 (85) 4,74
Slide 12: FY19 Outlook
FY19 Outlook(1) Non-GAAP EPS $3.05 - $3.45 per share Total Sales (1)% to +1% (52 weeks TY vs. 53 LY) Comparable Sales Flat to +2% FY19 Note Shift of large volume back-to-school week out of Q3 into Q2 Gross Margin 30 to 40 basis points improvement SG&A Expense 40 to 60 basis points deleverage Tax Rat
Slide 13: FY19 Comparable Sales Guidance
FY19 Comparable Sales Guidance Actual Guidance Guidance Guidance Guidance Q1 Q2 Q3 Q4 FY19 Journeys Group 6% 4 - 5% 2 - 3% 0 - 2% 3 - 4% Lids Sports Group (7)% (4) - (2)% (2) - 1% 0 - 4% (3) - (1)% Schuh Group (13)% (7) - (1)% (2) - 1% 0 - 2% (5) - (2)% Johnston & Murphy Group 7% 3 - 4% 2 - 3% 0 - 2
Slide 14: FY19 Projected Retail Store Count
FY19 Projected Retail Store Count Actual Proj Proj Proj 2018 Open Close 2019 Journeys Group 1,220 28 29 1,219 Journeys stores (U.S.) 893 15 24 884 Journeys stores (Canada) 46 - - 46 Journeys Kidz stores 242 10 4 248 Little Burgundy 39 3 1 41 Schuh Group 134 7 4 137 Lids Sports Group 1,159 18 69 1,10
Slide 15: FY19 Projected Capital Spending
FY19 Projected Capital Spending Projected FY19 CapEx $70 to $75 million 41% New Stores & Remodels 59% Omni-channel, IT, DC & Other 15
Slide 16: Appendix
GENESCO 3 Appendix res ED Litts sports croup POCEENS JOHNSTON EIMURPHI.
Slide 17: Non-GAAP Reconciliation – Q1 FY19
Non-GAAP Reconciliation – Q1 FY19 Three Months Ended May 5, 2018 April 29, 2017 Net of Per Share Net of Per Share In Thousands (except per share amounts) Pretax Tax Amounts Pretax Tax Amounts Earnings (loss) from continuing operations, as reported $ (2,308) $ (0.12) $ 997 $ 0.05 Pretax adjustments: