Slide 1: FY25 Q2 Genesco Summary Results
FY25 Q2 GENESCO Summary Results September 6, 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: Six 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: Q2 FY25 Highlights
Q2 FY25 • Highlights • Delivered top- and bottom-line results ahead of our expectations. Sales, led by Journeys, more than offset some pressure at Schuh and Johnston and Murphy, which continued to face robust multi-year comparisons • Strong sequential sales improvement, with comps turning positive i
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 • Wor
Slide 9: Key Earning Highlights
Q2 FY25 Key Earning Highlights $525 +8% MILLION IN SALES GROWTH IN COMPARABLE E-COMMERCE SALES vs. Q2 FY2024 22% E-COMMERCE $(0.91) GAAP EPS PENETRATION vs. 21% Q2 FY2024 $(0.83) NON-GAAP EPS
Slide 10: Q2 FY25 Key Earning Highlights
Q2 FY25 • Key Earning Highlights Quarter 2 Quarter 2 August 3, 2024 July 29, 2023 Total Sales Change (1) flat -2% Comparable Sales -2% -2% Comparable E-commerce Sales 8% 14% Gross Margin % (2) GAAP 46.8% 47.7% Non-GAAP 46.8% 47.7% Selling and Admin. Expenses % 48.6% 49.6% Operating Loss % (2) GAAP -
Slide 11: 6mos FY25 Key Earning Highlights
6mos FY25 • Key Earning Highlights Six Months Ended Six Months Ended August 3, 2024 July 29, 2023 Total Sales Change (1) -2% -5% Comparable Sales -3% -4% Comparable E-commerce Sales 6% 11% Gross Margin % (2) GAAP 47.0% 47.5% Non-GAAP 47.2% 47.5% Selling and Admin. Expenses % 51.2% 50.8% Operating Lo
Slide 12: E-Commerce Sales Highlights
Q2 FY25 • E-Commerce Sales Highlights Quarter 2 Trailing 12 Months (1) $500 $495 $500 $454 9% $400 $400 $ in Millions $ in Millions $300 $300 $200 $200 $98 $107 9% $100 $100 31% $- 25% $- FY24 FY25 FY24 FY25 % of Retail Sales (2) 21% 22% 21% 24% (1) 53-week period for trailing twelve months ended Au
Slide 13: Q2 FY25 Comparable Sales
Q2 FY25 • Comparable Sales Quarter 2 August 3, 2024 July 29, 2023 Journeys Group -1% -11% Schuh Group -2% 17% Johnston & Murphy Group -5% 12% Total Comparable Sales -2% -2% Same Store Sales -4% -6% Comparable E-commerce Sales 8% 14%
Slide 14: Q2 FY25 Sales by Segment
Q2 FY25 Journeys 24% Schuh Sales by Segment Johnston & Murphy Group 13% Genesco Brands Group 6% 57% FY25 23% Net Sales $525.2 Million 15% 7% 55% FY24 Net Sales $523.0 Million
Slide 15: 6mos FY25 Sales by Segment
6mos FY25 Journeys 22% Schuh Sales by Segment Johnston & Murphy Group 15% Genesco Brands Group 6% 57% FY25 21% Net Sales $982.8 Million 16% 7% 56% FY24 Net Sales $1.0 Billion
Slide 16: Q2 FY25 Adjusted Operating Income Statement
Q2 FY25 • Adjusted Operating Income Statement (1) Quarter 2 August 3, 2024 July 29, 2023 Oper Inc Adj Oper Oper Inc Adj Oper $ in millions (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ (11.2) $ - $ (11.2) $ (14.9) $ - $ (14.9) Schuh Group 7.3 - 7.3 8.4 - 8.4 Johnston & Murphy Gr
Slide 17: 6mos FY25 Adjusted Operating Income Statement
6mos FY25 • Adjusted Operating Income Statement (1) Six Months Ended August 3, 2024 July 29, 2023 Oper Inc Adj Oper Oper Inc Adj Oper ($ in millions) (Loss) Adjust Inc (Loss) (Loss) Adjust Inc (Loss) Journeys Group $ (30.0) $ - $ (30.0) $ (33.2) $ - $ (33.2) Schuh Group 1.4 - 1.4 6.6 - 6.6 Johnston
Slide 18: Inventory/Sales Change by Segment
Q2 FY25 Inventory/Sales Change by Segment Q2 FY25 $ in millions Inv entory Sales (1) Total Genesco $ 450 $ 525 % Change v s. Q2 FY24 -8% flat Change v s. Q2 FY24 Journeys Group -9% 4% Schuh Group (2) -12% 1% Johnston & Murphy Group -22% -9% Genesco Brands Group (3) 81% -13% (1) Sales for the second
Slide 19: Q2 FY25 Retail Store Summary
Q2 FY25 • Retail Store Summary May 4, Aug. 3, 2024 Open Close 2024 Journeys Group 1,047 4 12 1,039 Journeys stores (U.S.) 756 3 10 749 Journeys stores (Canada) 39 - - 39 Journeys Kidz stores 221 1 2 220 Little Burgundy 31 - - 31 Schuh Group 122 1 - 123 Johnston & Murphy Group 152 - - 152 Total Store
Slide 20: Retail Square Footage
Q2 FY25 Retail Square Footage Jul. 29, Net Aug. 3, % In Thousands 2023 Change 2024 Change Journeys Group 2,232 (91) 2,141 -4.1% Schuh Group 611 (5) 606 -0.8% Johnston & Murphy Group 302 (11) 291 -3.8% Total Square Footage 3,145 (107) 3,038 -3.4% Year ov er year change in retail inv entory per square
Slide 21: 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 (2) dow n 1% to 2%, or v s. FY2024 flat to dow n 1% excluding the 53rd w eek in FY2024 Gross Margin dow n 10 to 20 basis points v s. FY2024 SG&A
Slide 22: FY25 Projected Retail Store Count
FY25 Projected Retail Store Count Actual Proj Proj Proj 2024 Open Close 2025 Journeys Group 1,063 8 45 1,026 Journeys stores (U.S.) 769 6 38 737 Journeys stores (Canada) 39 - - 39 Journeys Kidz stores 222 2 5 219 Little Burgundy 33 - 2 31 Schuh Group 122 4 2 124 Johnston & Murphy Group 156 3 5 154 T
Slide 23: FY25 Projected Capital Spending
FY25 Projected Capital Spending Projected FY25 CapEx approx. $52 - 57 Million Omni-channel, 63% IT, DC & Other New Stores & Remodels 37% FY25 Projected Depreciation & Amortization = $51 Million
Slide 24: Appendix
f Appendix SD PEE Se aye
Slide 25: Q2 FY25 Non-GAAP Reconciliation
Q2 FY25 • Non-GAAP Reconciliation Quarter 2 August 3, 2024 July 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 $ (9,929) $ (0.91) $ (31,632) $ (2.79) Gross margin adjustment: Charge
Slide 26: 6mos FY25 Non-GAAP Reconciliation
6mos FY25 • Non-GAAP Reconciliation Six Months Ended August 3, 2024 July 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 $ (34,217) $ (3.13) $ (50,507) $ (4.36) Gross margin adjustme
Slide 27: Q2 FY25 Adjusted Gross Margin
Q2 FY25 • Adjusted Gross Margin Quarter 2 In Thousands August 3, 2024 July 29, 2023 Gross margin, as reported $ 245,639 $ 249,520 % of sales 46.8% 47.7% Charges related to distribution model transition 169 - Total adjustments 169 - Adjusted gross margin $ 245,808 $ 249,520 % of sales 46.8% 47.7%
Slide 28: 6mos FY25 Adjusted Gross Margin
6mos FY25 • Adjusted Gross Margin Six Months Ended In Thousands August 3, 2024 July 29, 2023 Gross margin, as reported $ 461,920 $ 478,328 % of sales 47.0% 47.5% Charges related to distribution model transition 1,750 - Total adjustments 1,750 - Adjusted gross margin $ 463,670 $ 478,328 % of sales 47
Slide 29: FY25 Q2 Genesco Summary Results
FY25 Q2 GENESCO Summary Results September 6, 2024