Slide 1: FY23 Q4 Genesco Summary Results
FY23 Q4 GENESCO Summary Results March 9, 2023
Slide 2: Safe Harbor Statement
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, stores openings and closures, ESG progress and all other statements not
Slide 3: Non-GAAP Financial Measures
NON-GAAP We report consolidated financial results in Financial accordance with generally accepted accounting Measures principles (“GAAP”). However, to supplement these consolidated financial results our presentation includes certain non-GAAP financial measures such as earnings and earnings per share
Slide 4: Our Footwear Focused Vision & Strategy
Our Footwear Focused Vision & Strategy What We Aspire To Do 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 Our Aspiration Build enduring relationships with our target
Slide 5: Footwear Focused Strategic Initiatives/Pillars
Our Footwear Focused Strategic Initiatives/Pillars Vision & Strategy Footwear focused strategy spans six strategic growth pillars aimed at accelerating Genesco’s transformation and leveraging synergies to drive growth and sustainable profitability 1 2 3 4 5 6 Build deeper Maximize the Accelerate con
Slide 6: Q4 FY23 Highlights
Q4 FY23 Highlights • Revenue in Q4 was $725 million, essentially flat with last year, while on a constant currency basis, total sales were up 2%. • Total comps improved sequentially through the year, culminating in a 5% comp gain in the fourth quarter with both positive store comps +1% and positive
Slide 7: Q4 FY23 Key Earnings Highlights
Q4 FY23 Key Earnings Highlights $725 +57% MILLION IN SALES GROWTH IN essentially flat vs. Q4 FY22 E-COMMERCE SALES (+2% constant currency basis) vs. Q4 FY20 +7% vs. Q4 FY20 Comparable Sales $3.23 Growth: GAAP EPS vs. $4.41 Q4 FY22 vs. $2.49 Q4 FY20 +5% Combined +1% Stores $3.06 +21% Direct NON-GAAP
Slide 8: Q4 FY23 Key Earnings Highlights
Q4 FY23 Key Earnings Highlights Quarter 4 Quarter 4 Quarter 4 January 28, 2023 January 29, 2022 February 1, 2020 Total Sales Change 0% 14% 0% % Days Operating 100% 98% NA Comparable Sales 5% 3% 1% Comparable Direct Sales 21% -12% 19% Gross Margin % 46.4% 48.9% 46.9% Selling and Admin. Expenses % (1)
Slide 9: FY23 Highlights
FY23 Highlights • Johnston & Murphy and Schuh achieve record sales. • Digital penetration achieved 20% of direct-to-consumer sales, up from 13% in fiscal 20, growing almost 70% from pre- pandemic levels. • We returned $73 million to shareholders through share repurchases totaling 10% of our outstand
Slide 10: FY23 Key Earnings Highlights
FY23 Key Earnings Highlights Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended January 28, 2023 January 29, 2022 February 1, 2020 Total Sales Change -2% 36% 0% % Days Operating 100% 96% NA Comparable Sales (1) NA NA 3% Comparable Direct Sales (1) 0% -2% 18% Gross Margin % 47.6% 48.8% 48.4% Selli
Slide 11: E-Commerce Sales Highlights
Q4 FY23 E-Commerce Sales Highlights Quarter 4 Fiscal Year Ended $500 $500 $449 $460 $436 $400 $400 $300 $ in Millions $300 $ in Millions $260 $200 $200 $166 $169 $146 $107 $100 $100 $- $- FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 % of Retail Sales (1) 17% 27% 22% 25% 13% 27% 21% 20%
Slide 12: Q4 FY23 Comparable Sales
Q4 FY23 Comparable Sales Quarter 4 Jan. 28, 2023 Jan. 29, 2022 Journeys Group -1% 1% Schuh Group 20% -2% Johnston & Murphy Group 23% 38% Total Comparable Sales 5% 3% Same Store Sales 1% 10% Comparable Direct Sales 21% -12%
Slide 13: Q4 FY23 Total Sales
Q4 FY23 Total Sales Quarter 4 Total Sales Change FY23 v s FY22 FY22 v s FY21 FY23 v s FY20 Journeys Group -2% 2% 0% Schuh Group 7% 33% 23% Johnston & Murphy Group 17% 51% 4% Genesco Brands Group -34% 98% 140% Total Sales Change 0% 14% 7% Constant Currency Sales: Schuh Group 18% 33% 33% Total Sales C
Slide 14: Q4 FY23 Sales by Segment
Q4 FY23 Journeys 19% Schuh Johnston & Murphy Group Sales by Segment 12% Genesco Brands Group 64% 5% 18% Q4 FY23 Net Sales 10% $725.0 Million 65% 7% 16% Q4 FY22 13% Net Sales 69% $727.7 Million 2% Q4 FY20 Net Sales $677.6 Million
Slide 15: FY23 Sales by Segment
FY23 Journeys 18% Schuh Johnston & Murphy Group 13% Sales by Segment Genesco Brands Group 7% 62% 18% FY23 Net Sales 10% $2.4 Billion 65% 7% 17% 14% FY22 Net Sales $2.4 Billion 66% 3% FY20 Net Sales $2.2 Billion
Slide 16: Q4 FY23 Adjusted Operating Income by Segment
Q4 FY23 Adjusted Operating Income by Segment (1) Quarter 4 January 28, 2023 January 29, 2022 February 1, 2020 Oper Inc Adj Oper Oper Inc Adj Oper Oper Inc Adj Oper ($ in millions) (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ 43.2 $ - $ 43.2 $ 58.4 $ - $
Slide 17: FY23 Adjusted Operating Income by Segment
FY23 Adjusted Operating Income by Segment (1) Fiscal Year Ended January 28, 2023 January 29, 2022 February 1, 2020 Oper Inc Adj Oper Oper Inc Adj Oper Oper Inc Adj Oper ($ in millions) (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ 94.4 $ - $ 94.4 $ 165.3
Slide 18: Q4 FY23 Inventory/Sales Change by Segment
Q4 FY23 Inventory/Sales Change by Segment Inv entory Sales (1) Change from Jan. 29, Feb. 1, ($ in millions) 2022 2020 Q4 FY22 Q4 FY20 Journeys Group 51% 20% -2% 0% Schuh Group (2) 40% 14% 18% 33% Johnston & Murphy Group 151% 54% 17% 4% Genesco Brands Group 82% 29% -34% 140% Total for Q4 FY23 $ 458 $
Slide 19: Q4 FY23 Retail Stores Summary
Q4 FY23 Retail Stores Summary October January 29, 2022 Open Close 28, 2023 Journeys Group 1,123 14 7 1,130 Journeys stores (U.S.) 813 11 6 818 Journeys stores (Canada) 45 - - 45 Journeys Kidz stores 230 3 - 233 Little Burgundy 35 - 1 34 Schuh Group 122 2 2 122 Johnston & Murphy Group 159 1 2 158 Tot
Slide 20: FY23 Retail Square Footage
FY23 Retail Square Footage Jan. 29, Net Jan. 28, (in thousands) 2022 Change 2023 % Change Journeys Group 2,262 10 2,272 0.4% Schuh Group 594 8 602 1.3% Johnston & Murphy Group 320 (14) 306 -4.2% Total Square Footage 3,176 4 3,180 0.1% Year ov er year change in retail inv entory per square foot -4% 5
Slide 21: FY24 Outlook
FY24 Note: See earnings call transcript for important details regarding guidance assumptions. Outlook (1) Non-GAAP EPS $5.10 - $5.90 per share, expectations near mid-point Total Sales Flat to up 2%, or dow n 1% to up 1%, v s. FY2023 excluding the 53rd w eek this year Gross Margin 35 - 45 basis point
Slide 22: FY24 Projected Retail Store Count
FY24 Projected Retail Store Count Actual Proj Proj Proj 2023 Open Close 2024 Journeys Group 1,130 27 60 1,097 Journeys stores (U.S.) 818 26 34 810 Journeys stores (Canada) 45 - 8 37 Journeys Kidz stores 233 1 18 216 Little Burgundy 34 0 0 34 Schuh Group 122 1 2 121 Johnston & Murphy Group 158 3 4 15
Slide 23: FY24 Projected CapEx approx. $55 - $60 Million
FY24 Projected FY24 CapEx approx. $55 - $60 Million Projected Capital Omni-channel, IT, DC & Other Spending New Stores & Remodels 47% 53% FY24 Projected Depreciation & Amortization = $46 Million
Slide 24: Appendix
Appendix
Slide 25: Q4 FY23 Non-GAAP Reconciliation
Q4 FY23 Non-GAAP Reconciliation Quarter 4 January 28, 2023 January 29, 2022 February 1, 2020 Net of Per Share Net of Per Share Net of Per Share In Thousands (except per share amounts) Pretax Tax Amounts Pretax Tax Amounts Pretax Tax Amounts Earnings from continuing operations, as reported $ 39,198 $
Slide 26: FY23 Non-GAAP Reconciliation
FY23 Non-GAAP Reconciliation Fiscal Year Ended January 28, 2023 January 29, 2022 February 1, 2020 Net of Per Share Net of Per Share Net of Per Share In Thousands (except per share amounts) Pretax Tax Amounts Pretax Tax Amounts Pretax Tax Amounts Earnings from continuing operations, as reported $ 72,
Slide 27: Q4 FY23 Adjusted Selling & Administrative Expenses
Adjusted Selling & Q4 FY23 Administrative Expenses Quarter 4 In Thousands January 28, 2023 January 29, 2022 February 1, 2020 Selling and administrativ e expenses, as reported $ 285,776 $ 290,478 $ 260,612 Expenses related to new HQ building (112) (1,093) - Acquisition Expenses - - (2,474) Total adju
Slide 28: FY23 Adjusted Selling & Administrative Expenses
Adjusted Selling & FY23 Administrative Expenses Fiscal Year Ended In Thousands January 28, 2023 January 29, 2022 February 1, 2020 Selling and administrativ e expenses, as reported $ 1,042,094 $ 1,033,625 $ 966,423 Expenses related to new HQ building (2,657) (4,004) - Acquisition Expenses - - (2,474)
Slide 29: FY23 Q4 Genesco Summary Results
FY23 Q4 GENESCO Summary Results March 9, 2023