0000018498 false 0000018498 2021-01-11 2021-01-11




Washington, D.C. 20549





Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (date of earliest event reported): January 11, 2021 (January 11, 2021)



(Exact name of registrant as specified in its charter)





(State or Other Jurisdiction

of Incorporation)


File Number)

(I.R.S. Employer

Identification No.)



1415 Murfreesboro Pike




(Address of Principal Executive Offices)

(Zip Code)


(615) 367-7000

Registrant's telephone number, including area code


Not Applicable

(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):



Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)



Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)



Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))



Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:


Title of each class

Trading Symbol(s)

Name of exchange on which registered

Common Stock, $1.00 par value


New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.






On January 11, 2021, Genesco Inc. issued a press release announcing comparable sales by retail segment and for the entire Company for the fourth fiscal quarter-to-date period ended December 26, 2020.  The Company previously announced that management will make a webcast presentation at the 2021 ICR Conference on Monday, January 11, 2021, at 10:30 a.m. Eastern Standard Time.  The webcast may be accessed live through the Company’s investor relations page at www.genesco.com.


A copy of the January 11, 2021, press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.


(d)       Exhibits

The following exhibits are furnished herewith:


Exhibit Number








Press Release Issued by Genesco Inc. on January 11, 2021






Cover Page Interactive Data File (embedded within the Inline XBRL document)







Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.








Date: January 11, 2021




/s/ Scott E. Becker





Scott E. Becker





Senior Vice President, Secretary and

General Counsel





Exhibit 99.1



--Fourth Quarter-to-Date Comparable Sales Decreased 3%,

a Sequential Improvement vs. Third Quarter--

--E-commerce Comparable Sales Increased 49%--  

--Participating in 2021 ICR Conference, January 11, 2021--


NASHVILLE, Tenn., Jan. 11, 2021 –Genesco Inc. (NYSE: GCO) announced today that comparable sales, including both stores and direct sales, decreased 3% for the quarter-to-date period ended December 26, 2020.  Same store sales decreased 14% and sales for the Company's e-commerce businesses increased 49% on a comparable basis for that period.  The Company’s comp policy removes any stores that are closed for seven consecutive days or more. Therefore, comparable sales results exclude periods of time that stores were closed for seven consecutive days or more as a result of the COVID-19 pandemic.  Comparable sales changes for each retail business for the period were as follows:


Quarter-to-Date (8 weeks ended December 26, 2020)


Comparable Sales

(Stores and Direct)

Journeys Group


Schuh Group


Johnston & Murphy Group


   Total Comparable Sales


Same Store Sales


Comparable Direct Sales



The Company’s stores were open for approximately 90% of the possible days during fiscal November and December, with Schuh’s stores operating for approximately 50% of this period.  Overall sales decreased by 8% for the quarter-to-date period ended December 26, 2020.  Overall sales changes for each business for the period were as follows:


Quarter-to-Date (8 weeks ended December 26, 2020)


Overall Sales

Journeys Group


Schuh Group


Johnston & Murphy Group

Licensed Brands




   Total Overall Sales


Total Store Sales


Total Direct Sales



Mimi E. Vaughn, Genesco board chair, president and chief executive officer, said, “Overall, our performance this holiday selling season was very encouraging given the backdrop of the COVID-19 pandemic with sales coming in above our expectations.  Journeys once again led the way with strong full-price selling, and we were pleased that Schuh delivered better than expected results especially as the business continues to face significant mandated store closures.  Fiscal January is off to a strong start with comps turning nicely positive, providing us with optimism for a solid finish to Fiscal 2021.”




Genesco to Present at the 2021 ICR Conference


As previously announced, Genesco management will present at the 2021 ICR Conference on Monday, January 11, 2021, at 10:30 a.m. (Eastern Time).  The audio portion of the presentation will be webcast live and may be accessed through the Company's internet website, http://www.genesco.com.  To listen, please go to the website at least 15 minutes early to register, download and install any necessary software.


Safe Harbor Statement


This release contains forward-looking statements, including those regarding the performance outlook for the Company and all other statements not addressing solely historical facts or present conditions. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences.  These include adjustments to projections reflected in forward-looking statements, including as a result of the effects of COVID-19 on the Company’s business including whether there are periods of increases in the number of COVID-19 cases in locations in which the Company operates, further closures of stores due to COVID-19, weakness in store and shopping mall traffic, restrictions on operations imposed by government entities and landlords, changes in public safety and health requirements, the Company’s ability to adequately staff stores, limitations on the Company’s ability to provide adequate personal protective equipment to employees, and the Company’s ability to maintain social distancing requirements; stores closures and effects on the business as a result of civil disturbances; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the imposition of tariffs on products imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; the Company’s ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of COVID-19; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; the effects of the British decision to exit the European Union and other sources of weakness in the U.K. market; the effectiveness of the Company's omnichannel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and the U.K.; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets; risks related to the potential for terrorist events; risks related to public health and safety events, including for example, the COVID-19 coronavirus; changes in buying patterns by significant wholesale customers;  retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor of certain leases; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to renew leases in existing stores and control or lower occupancy costs, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; the Company’s ability to eliminate stranded costs associated with dispositions, including the sale of the Lids Sport Group business; the Company’s ability to realize anticipated cost savings, including rent savings; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems; and the cost and outcome of litigation, investigations and environmental matters involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements.




About Genesco Inc.


Genesco Inc., a Nashville-based specialty retailer, sells footwear and accessories in more than 1,475 retail stores throughout the U.S., Canada, the United Kingdom and the Republic of Ireland, principally under the names Journeys, Journeys Kidz, Schuh, Schuh Kids, Little Burgundy, Johnston & Murphy, and on internet websites www.journeys.com, www.journeyskidz.com, www.journeys.ca, www.littleburgundyshoes.com, www.schuh.co.uk, www.johnstonmurphy.com, www.johnstonmurphy.ca, and www.dockersshoes.com.   In addition, Genesco sells wholesale footwear under its Johnston & Murphy brand, the licensed Dockers brand, the licensed Levi’s brand, the licensed Bass brand, and other brands. For more information on Genesco and its operating divisions, please visit www.genesco.com.


Genesco Inc. Financial Contacts

Thomas A. George

Senior Vice President-Finance, Interim Chief Financial Officer

(615) 367-7465



Dave Slater

Vice President, Financial Planning & Analysis and IR

(615) 367-7604



Genesco Inc. Media Contact

Claire S. McCall

Director, Corporate Relations

(615) 367-8283