Slide 1: FY25 Q1 Genesco Summary Results
FY25 Q1 GENESCO Summary Results May 31, 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement 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, ESG progress and all
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures 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 (l
Slide 4: Our Footwear Focused Vision & Strategy
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, grounde
Slide 5: Our Footwear Focused Vision & Strategy: Strategic Pillars
Our Footwear Focused Vision & Strategy Strategic Initiatives/Pillars Genesco’s strategy spans six strategic growth pillars 1 2 3 4 5 6 DEEPEN consumer ACCELERATE MAXIMIZE INTENSIFY insights to RESHAPE PURSUE digital to grow the relationship product strengthen the cost base to synergistic direct-to-
Slide 6: Strong Strategic Positioning
Our Footwear Focused Vision & Strategy Strategic Initiatives/Pillars Strong Strategic Positioning Retail Platform Branded Platform The destination for young adult and teen fashion Portfolio of leading owned footwear and partner of choice for leading global brands and licensed brands #1 omnichannel r
Slide 7: Q1 FY25 Highlights
Q1 FY25 • Highlights • We delivered better sales, EPS, gross margin and expenses relative to expectations, led by Journeys, which continues to make progress on its turnaround • With new Journeys leadership in place since the beginning of the year, we are working to dramatically accelerate the pace o
Slide 8: Journeys Consumer-Centric Growth Strategy
Journeys Consumer-Centric Growth Strategy Drive Product Leadership and Create Marketplace Differentiation • Diversify and add new key styles with our existing brand partners • Increase our leadership position with all our key brands • Enhance in-store, social, and digital exposure for brands • Work
Slide 9: Key Earnings Highlights
Q1 FY25 Key Earnings Highlights $458 +3% MILLION IN SALES GROWTH IN COMPARABLE E-COMMERCE SALES vs. Q1 FY2024 $(2.22) 23% DIGITAL PENETRATION GAAP EPS vs. 21% Q1 FY2024 $(2.10) NON-GAAP EPS
Slide 10: Q1 FY25 Key Earnings Highlights
Q1 FY25 • Key Earnings Highlights Quarter 1 Quarter 1 May 4, 2024 April 29, 2023 Total Sales Change -5% -7% Comparable Sales -5% -5% Comparable E-commerce Sales 3% 7% Gross Margin % (1) GAAP 47.3% 47.3% Non-GAAP 47.6% 47.3% Selling and Admin. Expenses % 54.2% 52.0% Operating Loss % (1) GAAP -7.0% -4
Slide 11: E-Commerce Sales Highlights
Q1 FY25 • E-Commerce Sales Highlights Quarter 1 Trailing 12 Months (1) $500 $500 $486 $441 10% $400 $400 $ in Millions $ in Millions $300 $300 $200 $200 $89 $93 5% $100 $100 31% $- 25% $- FY24 FY25 FY24 FY25 % of Retail Sales (2) 21% 23% 21% 23% (1) 53-week period for trailing twelve months ended Ma
Slide 12: Comparable Sales
Q1 FY25 • Comparable Sales Quarter 1 May 4, 2024 April 29, 2023 Journeys Group -5% -14% Schuh Group -7% 13% Johnston & Murphy Group -3% 18% Total Comparable Sales -5% -5% Same Store Sales -7% -8% Comparable E-commerce Sales 3% 7%
Slide 13: Sales by Segment
Q1 FY25 Journeys Group 20% Schuh Group Sales by Segment Johnston & Murphy Group 17% Genesco Brands Group 6% 57% FY25 19% Net Sales $457.6 Million 17% 7% 57% FY24 Net Sales $483.3 Million
Slide 14: Adjusted Operating Income Statement
Q1 FY25 • Adjusted Operating Income Statement (1) Quarter 1 May 4, 2024 April 29, 2023 Oper Inc Adj Oper Oper Inc Adj Oper $ in millions (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ (18.8) $ - $ (18.8) $ (18.4) $ - $ (18.4) Schuh Group (5.9) - (5.9) (1.8) - (1.8) Johnston & Mur
Slide 15: Inventory/Sales Change by Segment
Q1 FY25 Inventory/Sales Change by Segment Q1 FY25 $ in millions Inv entory Sales Total Genesco $ 393 $ 458 % Change v s. Q1 FY24 -17% -5% Change v s. Q1 FY24 Journeys Group -20% -5% Schuh Group (1) 3% -4% Johnston & Murphy Group -27% -4% Genesco Brands Group 14% -25% (1) On a constant currency basis
Slide 16: Retail Store Summary
Q1 FY25 • Retail Store Summary Feb. 3, May 4, 2024 Open Close 2024 Journeys Group 1,063 1 17 1,047 Journeys stores (U.S.) 769 1 14 756 Journeys stores (Canada) 39 - - 39 Journeys Kidz stores 222 - 1 221 Little Burgundy 33 - 2 31 Schuh Group 122 - - 122 Johnston & Murphy Group 156 - 4 152 Total Store
Slide 17: Retail Square Footage
Q1 FY25 Retail Square Footage Apr. 29, Net May 4, % In Thousands 2023 Change 2024 Change Journeys Group 2,257 (103) 2,154 -4.6% Schuh Group 605 (3) 602 -0.5% Johnston & Murphy Group 306 (15) 291 -4.8% Total Square Footage 3,168 (121) 3,047 -3.8% Year ov er year change in retail inv entory per square
Slide 18: FY25 Outlook
FY25 Outlook (1) Note: See earnings call transcript for important details regarding guidance assumptions. Non-GAAP EPS $0.60 to $1.00 per share Total Sales dow n 2% to 3%, or v s. FY2024 dow n 1% to 2% excluding the 53rd w eek in FY2024 Gross Margin flat to up 10 basis points v s. FY2024 SG&A Expens
Slide 19: Projected Retail Store Count
FY25 Projected Retail Store Count Actual Proj Proj Proj 2024 Open Close 2025 Journeys Group 1,063 8 44 1,027 Journeys stores (U.S.) 769 6 38 737 Journeys stores (Canada) 39 - - 39 Journeys Kidz stores 222 2 4 220 Little Burgundy 33 - 2 31 Schuh Group 122 3 - 125 Johnston & Murphy Group 156 4 8 152 T
Slide 20: FY25 Projected Capital Spending
FY25 Projected Capital Spending Projected FY25 CapEx approx. $52 - 57 Million Omni-channel, 61% IT, DC & Other New Stores & Remodels 39% FY25 Projected Depreciation & Amortization = $50 Million
Slide 21: Appendix
Appendix a % ae
Slide 22: Non-GAAP Reconciliation
Q1 FY25 • Non-GAAP Reconciliation Quarter 1 May 4, 2024 April 29, 2023 Net of Per Share Net of Per Share In Thousands (except per share amounts) Pretax Tax Amounts Pretax Tax Amounts Loss from continuing operations, as reported $ (24,288) $ (2.22) $ (18,875) $ (1.60) Gross margin adjustment: Charges
Slide 23: Adjusted Gross Margin
Q1 FY25 • Adjusted Gross Margin Quarter 1 In Thousands May 4, 2024 April 29, 2023 Gross margin, as reported $ 216,281 $ 228,808 % of sales 47.3% 47.3% Charges related to distribution model transition 1,581 - Total adjustments 1,581 - Adjusted gross margin $ 217,862 $ 228,808 % of sales 47.6% 47.3%
Slide 24: FY25 Q1 Genesco Summary Results
FY25 Q1 GENESCO Summary Results May 31, 2024