0001564590-20-043082 | 10-Q | XBRL Viewer

Cover Page - shares	6 Months Ended
Cover Page - shares	Aug. 01, 2020	Aug. 28, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 01, 2020
Document Transition Report	false
Entity File Number	1-3083
Entity Registrant Name	Genesco Inc
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-0211340
Entity Address, Address Line One	Genesco Park
Entity Address, Address Line Two	1415 Murfreesboro Pike
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37217-2895
City Area Code	615
Local Phone Number	367-7000
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	GCO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		14,993,755
Entity Central Index Key	0000018498
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--01-30

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Current Assets:
Cash and cash equivalents	$ 299,144	$ 81,418	$ 57,965
Accounts receivable, net of allowances of $5,485 at August 1, 2020, $2,940 at Feb. 1, 2020 and $2,462 at August 3, 2019	54,793	29,195	26,626
Inventories	365,267	365,269	444,706
Prepaids and other current assets	58,454	32,301	45,040
Total current assets	777,658	508,183	574,337
Property and equipment, net	220,458	238,320	261,924
Operating lease right of use assets	670,323	735,044	754,537
Goodwill	37,931	122,184	87,126
Other intangibles	30,008	36,364	29,559
Deferred income taxes	12,443	19,475	23,185
Other noncurrent assets	21,207	20,908	24,859
Total Assets	1,770,028	1,680,478	1,755,527
Current Liabilities:
Accounts payable	178,541	135,784	157,822
Accrued employee compensation	12,237	31,579	32,552
Current portion – long-term debt	24,860		14,896
Current portion - operating lease liabilities	199,392	142,695	141,233
Other accrued liabilities	75,381	51,382	54,439
Provision for discontinued operations	429	495	520
Total current liabilities	490,840	361,935	401,462
Long-term debt	186,049	14,393	60,244
Long-term operating lease liabilities	593,723	647,949	671,047
Other long-term liabilities	36,871	35,177	36,307
Provision for discontinued operations	1,681	1,681	1,846
Total liabilities	1,309,164	1,061,135	1,170,906
Commitments and contingent liabilities
Equity:
Non-redeemable preferred stock	1,009	1,009	1,010
Common equity:
Common stock, $1 par value: Authorized; 80,000,000 shares Issued common stock	15,482	15,186	16,345
Additional paid-in capital	278,254	274,101	268,882
Retained earnings	223,536	378,572	364,396
Accumulated other comprehensive loss	(39,560)	(31,668)	(48,155)
Treasury shares, at cost (488,464 shares)	(17,857)	(17,857)	(17,857)
Total equity	460,864	619,343	584,621
Total Liabilities and Equity	$ 1,770,028	$ 1,680,478	$ 1,755,527

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Current Assets:
Allowances on accounts receivable	$ 5,485	$ 2,940	$ 2,462
Common equity:
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, shares authorized (in shares)	80,000,000	80,000,000	80,000,000
Treasury shares, at cost (in shares)	488,464	488,464	488,464

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Income Statement [Abstract]
Net sales	$ 391,217	$ 486,573	$ 670,449	$ 982,224
Cost of sales	224,217	250,040	383,305	500,783
Gross margin	167,000	236,533	287,144	481,441
Selling and administrative expenses	187,261	231,796	376,303	468,351
Goodwill impairment	0	0	79,259	0
Asset impairments and other, net	1,733	1,775	9,594	1,044
Operating income (loss)	(21,994)	2,962	(178,012)	12,046
Other components net periodic benefit income	(182)	(93)	(306)	(179)
Interest expense, net:
Interest expense	1,965	835	3,014	1,683
Interest income	(47)	(488)	(240)	(1,502)
Total interest expense, net	1,918	347	2,774	181
Earnings (loss) from continuing operations before income taxes	(23,730)	2,708	(180,480)	12,044
Income tax expense (benefit)	(4,806)	1,915	(26,932)	4,781
Earnings (loss) from continuing operations	(18,924)	793	(153,548)	7,263
Loss from discontinued operations, net of tax	(112)	(216)	(265)	(340)
Net Earnings (Loss)	$ (19,036)	$ 577	$ (153,813)	$ 6,923
Basic earnings (loss) per common share:
Continuing operations	$ (1.33)	$ 0.05	$ (10.86)	$ 0.43
Discontinued operations	(0.01)	(0.01)	(0.01)	(0.02)
Net earnings (loss)	(1.34)	0.04	(10.87)	0.41
Diluted earnings (loss) per common share:
Continuing operations	(1.33)	0.05	(10.86)	0.43
Discontinued operations	(0.01)	(0.01)	(0.01)	(0.02)
Net earnings (loss)	$ (1.34)	$ 0.04	$ (10.87)	$ 0.41
Weighted average shares outstanding:
Basic	14,179	15,959	14,145	16,802
Diluted	14,179	16,028	14,145	16,939

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net earnings (loss)	$ (19,036)	$ 577	$ (153,813)	$ 6,923
Other comprehensive income (loss):
Pension liability adjustments, net of tax	0	51	0	106
Postretirement liability adjustments, net of tax	(156)	(166)	(276)	(333)
Foreign currency translation adjustments	3,199	(11,072)	(7,616)	(9,992)
Total other comprehensive income (loss)	3,043	(11,187)	(7,892)	(10,219)
Comprehensive loss	$ (15,993)	$ (10,610)	$ (161,705)	$ (3,296)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ (153,813)	$ 6,923
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	24,210	25,118
Amortization of deferred note expense and debt discount	397	217
Deferred income taxes	7,129	(1,285)
Provision for accounts receivable	3,038	91
Impairment of intangible assets	84,519	0
Impairment of long-lived assets	4,782	1,038
Restricted stock expense	4,449	4,868
Other	430	1,241
Effect on cash from changes in working capital and other assets and liabilities, net of acquisitions:
Accounts receivable	(28,541)	2,594
Inventories	(1,111)	(82,091)
Prepaids and other current assets	(26,384)	1,658
Accounts payable	55,678	20,864
Other accrued liabilities	4,516	(19,661)
Other assets and liabilities	67,304	317
Net cash provided by (used in) operating activities	46,603	(38,108)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(10,642)	(13,251)
Other investing activities	0	23
Proceeds from sale of businesses	0	98,677
Proceeds from asset sales	100	30
Net cash provided by (used in) investing activities	(10,542)	85,479
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of long-term debt	0	(789)
Borrowings under revolving credit facility	214,821	49,832
Payments on revolving credit facility	(20,239)	(37,203)
Share repurchases related to share repurchase program	0	(145,361)
Restricted shares withheld for taxes	(1,224)	(2,209)
Change in overdraft balances	(13,019)	(20,218)
Additions to deferred note cost	(1,087)	0
Net cash provided by (used in) financing activities	179,252	(155,948)
Effect of foreign exchange rate fluctuations on cash	2,412	(813)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	217,725	(109,390)
Cash and cash equivalents at beginning of period	81,418	167,355
CASH AND CASH EQUIVALENTS AT END OF PERIOD	299,143	57,965
Supplemental Cash Flow Information:
Interest paid	2,171	1,507
Income taxes paid	3,784	3,794
Cash paid for amounts included in measurement of operating lease liabilities	25,795	91,769
Right of use assets obtained in exchange for new operating lease liabilities	$ 15,216	$ 34,954

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Non-Redeemable Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Shares	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjustment Retained Earnings
Beginning balance at Feb. 02, 2019	$ 737,551	$ 1,060	$ 19,591	$ 264,138	$ 508,555	$ (37,936)	$ (17,857)	$ (4,208)	$ (4,208)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Net earnings (loss)	$ 6,346				6,346
Other comprehensive earnings (loss)	968					968
Employee and non-employee share-based compensation	2,239			2,239
Shares repurchased	(79,971)		(1,809)		(78,162)
Other	1	(48)	(29)	78
Ending balance at May. 04, 2019	662,926	1,012	17,753	266,455	432,531	(36,968)	(17,857)
Beginning balance at Feb. 02, 2019	737,551	1,060	19,591	264,138	508,555	(37,936)	(17,857)	$ (4,208)	$ (4,208)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	6,923
Other comprehensive earnings (loss)	(10,219)
Ending balance at Aug. 03, 2019	584,621	1,010	16,345	268,882	364,396	(48,155)	(17,857)
Beginning balance at May. 04, 2019	662,926	1,012	17,753	266,455	432,531	(36,968)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	577				577
Other comprehensive earnings (loss)	(11,187)					(11,187)
Employee and non-employee share-based compensation	2,629			2,629
Shares repurchased	(68,114)		(1,611)		(66,503)
Restricted stock issuance			285	(285)
Restricted shares withheld for taxes	(2,209)		(56)	56	(2,209)
Other	(1)	(2)	(26)	27
Ending balance at Aug. 03, 2019	584,621	1,010	16,345	268,882	364,396	(48,155)	(17,857)
Beginning balance at Feb. 01, 2020	619,343	1,009	15,186	274,101	378,572	(31,668)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(134,777)				(134,777)
Other comprehensive earnings (loss)	(10,935)					(10,935)
Employee and non-employee share-based compensation	2,191			2,191
Other			(15)	15
Ending balance at May. 02, 2020	475,822	1,009	15,171	276,307	243,795	(42,603)	(17,857)
Beginning balance at Feb. 01, 2020	619,343	1,009	15,186	274,101	378,572	(31,668)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(153,813)
Other comprehensive earnings (loss)	(7,892)
Ending balance at Aug. 01, 2020	460,864	1,009	15,482	278,254	223,536	(39,560)	(17,857)
Beginning balance at May. 02, 2020	475,822	1,009	15,171	276,307	243,795	(42,603)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(19,036)				(19,036)
Other comprehensive earnings (loss)	3,043					3,043
Employee and non-employee share-based compensation	2,258			2,258
Restricted stock issuance			461	(461)
Restricted shares withheld for taxes	(1,223)		(64)	64	(1,223)
Other			(86)	86
Ending balance at Aug. 01, 2020	$ 460,864	$ 1,009	$ 15,482	$ 278,254	$ 223,536	$ (39,560)	$ (17,857)

Summary of Significant Accounting Policies

6 Months Ended

Aug. 01, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1

Summary of Significant Accounting Policies

Basis of Presentation

The Condensed Consolidated Financial Statements and Notes contained in this report are unaudited but reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending January 30, 2021 ("Fiscal 2021") and of the fiscal year ended February 1, 2020 ("Fiscal 2020"). All subsidiaries are consolidated in the Condensed Consolidated Financial Statements. All significant intercompany transactions and accounts have been eliminated. The results of operations for any interim period are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted. The Condensed Consolidated Balance Sheet as of February 1, 2020 has been derived from the audited financial statements at that date. These Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and notes for Fiscal 2020, which are contained in our Annual Report on Form 10-K as filed with the SEC on April 1, 2020.

Nature of Operations

Genesco Inc. and its subsidiaries (collectively the "Company", "we", "our", or "us") business includes the sourcing and design, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Little Burgundy and Johnston & Murphy banners and under the Schuh banner in the United Kingdom and the Republic of Ireland (“ROI”); through catalogs and e-commerce websites including the following: journeys.com, journeyskidz.com, journeys.ca, schuh.co.uk, schuh.ie, schuh.eu, johnstonmurphy.com and littleburgundyshoes.com and at wholesale, primarily under our Johnston & Murphy brand, the licensed Dockers brand, the licensed Levi's brand, the licensed Bass brand and other brands that we license for footwear. At August 1, 2020, we operated 1,476 retail stores in the U.S., Puerto Rico, Canada, the United Kingdom and the ROI.

During the three and six months ended August 1, 2020 and August 3, 2019, we operated four reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz and Little Burgundy retail footwear chains and e-commerce operations; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce operations and wholesale distribution of products under the Johnston & Murphy^® brand; and (iv) Licensed Brands, comprised of the licensed Dockers^®, Levi's^®, and Bass^® brands, as well as other brands we license for footwear.

Cash and Cash Equivalents

Our foreign subsidiaries held cash of approximately $42.2 million, $8.9 million and $10.8 million as of August 1, 2020, February 1, 2020 and August 3, 2019, respectively, which is included in cash and cash equivalents on the Condensed Consolidated Balance Sheets.

There were $241.1 million, $59.6 million and $17.5 million in cash equivalents at August 1, 2020, February 1, 2020 and August 3, 2019, respectively.

At August 1, 2020, February 1, 2020 and August 3, 2019, outstanding checks drawn on zero-balance accounts at certain domestic banks exceeded book cash balances at those banks by approximately $4.1 million, $17.1 million and $9.4 million, respectively. These amounts are included in accounts payable in the Condensed Consolidated Balance Sheets.

Concentration of Credit Risk and Allowances on Accounts Receivable

Our footwear wholesale businesses sell primarily to department stores and independent retailers across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer-specific factors. In the footwear wholesale businesses, one customer accounted for 19%, one customer accounted for 15%, one customer accounted for 13% and no other customer accounted for more than 7% of our total trade receivables balance as of August 1, 2020.

Selling and Administrative Expenses

Wholesale costs of distribution are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations in the amount of $2.2 million and $1.3 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $4.6 million and $2.7 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively.

Note 1

Summary of Significant Accounting Policies, Continued

Retail occupancy costs recorded in selling and administrative expense were $71.5 million and $85.9 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $148.7 million and $169.1 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively.

Advertising Costs

Advertising costs were $14.1 million and $16.5 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $28.6 million and $30.2 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively.

Vendor Allowances

Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $0.9 million and $2.3 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $2.7 million and $4.2 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively. During the first six months of Fiscal 2021 and Fiscal 2020, our cooperative advertising reimbursements received were not in excess of the costs incurred.

Foreign Currency Translation

The functional currency of our foreign operations is the applicable local currency. The translation of the applicable foreign currency into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date. Income and expense accounts are translated at monthly average exchange rates. The unearned gains and losses resulting from such translation are included as a separate component of accumulated other comprehensive loss within shareholders' equity. Gains and losses from certain foreign currency transactions are reported as an item of income and resulted in net income of $(0.4) million and $(0.2) million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and net income of $(0.5) million for the first six months of Fiscal 2021 and a net loss of $0.1 million for the first six months of Fiscal 2020.

New Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-13 guidance related to the disclosure requirements for fair value measurement. This guidance added, modified and removed certain disclosure requirements related to assets and liabilities recorded at fair value. This guidance is effective for public business entities for fiscal years and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted. We adopted this guidance in the first quarter of Fiscal 2021 and it had no impact to our results of operations, financial position or cash flows.

In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", which requires entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The FASB has subsequently issued updates to the standard to provide additional clarification on specific topics. We adopted ASU No. 2016-13 in the first quarter of Fiscal 2021. This guidance did not have a material impact on our Condensed Consolidated Financial Statements.

COVID-19

6 Months Ended

Aug. 01, 2020

Extraordinary And Unusual Items [Abstract]

COVID-19

Note 2

COVID-19

In March 2020, the World Health Organization categorized the outbreak of COVID-19 as a pandemic. To help control the spread of the virus and protect the health and safety of our employees and customers, we began temporarily closing or modifying operating models and hours of our retail stores in North America, the United Kingdom and ROI both in response to governmental requirements including “stay-at-home” orders and similar mandates and voluntarily, beyond the requirements of local government authorities, during the first and second quarters of Fiscal 2021.

Changes made in our operations, including temporary closures, combined with reduced customer traffic due to concerns over COVID-19, resulted in material reductions in revenues and operating income during the first and second quarters of Fiscal 2021. This prompted us to update our impairment analyses of our retail store portfolios and related lease right-of-use assets. For certain lower-performing stores, we compared the carrying value of store assets to undiscounted cash flows with updated assumptions on near-term profitability. As a result, we recorded a $3.0 million and $1.7 million asset impairment charge within asset impairments and other, net on our Condensed Consolidated Statements of Operations during the quarters ended May 2, 2020 and August 1, 2020, respectively.

Note 2

COVID-19, Continued

We evaluated our goodwill and indefinite-lived intangible assets at the end of the quarters ended May 2, 2020 and August 1, 2020. Our goodwill impairment analyses for Schuh Group completed as of the first day of the fourth quarter of Fiscal 2020 indicated $8.2 million of excess fair value over its carrying value. Therefore, considering the impact of COVID-19, we updated the goodwill impairment analysis for Schuh Group, and as a result, recorded a goodwill impairment charge of $79.3 million during the quarter ended May 2, 2020. In addition, we updated our impairment analysis for other intangible assets considering the impact of COVID-19 and, as a result, recorded a trademark impairment charge of $5.3 million during the quarter ended May 2, 2020. There were no impairment indicators for the quarter ended August 1, 2020.

We evaluated our remaining tangible assets, particularly accounts receivable and inventory. Our wholesale businesses sell primarily to independent retailers and department stores across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry, such as COVID-19, as well as by customer specific factors. We establish an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. As a result of the impact of COVID-19, we recorded additional bad debt expense of $2.4 million and $0.7 million during the quarters ended May 2, 2020 and August 1, 2020, respectively.

We also record reserves for obsolete and slow-moving inventory and for estimated shrinkage between physical inventory counts. During the quarters ended May 2, 2020 and August 1, 2020, we recorded approximately $1.8 million and $2.5 million, respectively, of incremental inventory reserve provisions as a result of excess inventory due to the impact of COVID-19 on retail traffic and demand for certain products. Depending on the pace of reopening our stores as well as future customer behavior, among other factors, we may incur additional inventory reserve provisions during Fiscal 2021.

Since the first quarter of Fiscal 2021, we have withheld certain contractual rent payments generally correlating with time periods when our stores were closed and/or correlating with sales declines from Fiscal 2020. We continue to recognize rent expense in accordance with the contractual terms. We are working with landlords in various markets seeking commercially reasonable lease concessions given the current environment, and while some agreements have been reached, a significant number of negotiations remain ongoing.

On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which among other things, provides employer payroll tax credits for wages paid to employees who are unable to work during the COVID-19 pandemic and options to defer payroll tax payments. Based on our preliminary evaluation of the CARES Act, we qualify for certain employer payroll tax credits as well as the deferral of payroll and other tax payments in the future, which will be treated as government subsidies to offset related operating expenses. During the quarters ended May 2, 2020 and August 1, 2020, qualified payroll tax credits reduced our selling and administrative expenses by approximately $7.0 million and $3.8 million on our Condensed Consolidated Statements of Operations as a result of relief from the CARES Act and other foreign governmental packages. We intend to defer qualified payroll and other tax payments as permitted by the CARES Act. Other foreign governmental packages also provided relief from property taxes of approximately $1.6 million and $3.9 million in the quarters ended May 2, 2020 and August 1, 2020, respectively.

We recorded our income tax expense, deferred tax assets and related liabilities based on our best estimates. As part of this process, we assessed the likelihood of realizing the benefits of our deferred tax assets. As of the end of our first quarter of Fiscal 2021, based on available evidence, we recorded additional valuation allowance adjustments in our UK jurisdiction of $2.0 million. Further, we excluded the UK tax jurisdiction from our estimate of the annual effective tax rate for Fiscal 2021 as we do not expect to record any tax benefit from the losses anticipated for Fiscal 2021. We will continue to monitor the realizability of our deferred tax assets, particularly in certain foreign jurisdictions where the COVID-19 pandemic has started to create significant net operating losses. Our ability to recover these deferred tax assets depends on several factors, including our results of operations and our ability to project future taxable income in those jurisdictions. If we determine that some portion of the tax benefit will not be realized, we would record a valuation allowance, which would decrease our income tax benefit. Total deferred tax assets, net of valuation allowances, as of the end of our first quarter ended May 2, 2020 were approximately $14.6 million, of which approximately $0.9 million related to foreign jurisdictions. Total deferred tax assets as of August 1, 2020 were approximately $12.4 million, of which approximately $1.0 million related to foreign jurisdictions.

The COVID-19 pandemic remains a rapidly evolving situation. The continuation of the COVID-19 pandemic, its economic impact and actions taken in response thereto may result in prolonged or recurring periods of store closures and modified operating schedules and may result in changes in customer behaviors, including a potential reduction in consumer discretionary spending in our stores. These may lead to increased asset recovery and valuation risks, such as impairment of our store and other assets and an inability to realize deferred tax assets due to sustaining losses in certain jurisdictions. The uncertainties in the global economy have and are likely to continue to impact the financial viability of our suppliers, and other business partners, which may interrupt our supply chain, limit our ability to collect receivables and require

Note 2

COVID-19, Continued

other changes to our operations. These and other factors have and will continue to adversely impact our net revenues, operating income and earnings per share financial measures.

Goodwill and Other Intangible Assets

6 Months Ended

Aug. 01, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 3

Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill by segment were as follows:

(In thousands)	Schuh Group			Journeys Group			Licensed Brands Group			Total Goodwill
Balance, February 1, 2020	$	84,069		$	9,730		$	28,385		$	122,184
Change in opening balance sheet		—			—			(55	)		(55	)
Impairment		(79,259	)		—			—			(79,259	)
Effect of foreign currency exchange rates		(4,810	)		(129	)		—			(4,939	)
Balance, August 1, 2020	$	—		$	9,601		$	28,330		$	37,931

During the first quarter of Fiscal 2021, we identified qualitative indicators of impairment, including a significant decline in our stock price and market capitalization resulting from the COVID-19 pandemic, since the last consideration of indicators of impairment in the fourth quarter of Fiscal 2020 for our Schuh Group reporting unit. When indicators of impairment are present on an interim basis, we must assess whether it is “more likely than not” (i.e., a greater than 50% chance) that an impairment has occurred. In our Fiscal 2020 annual evaluation of goodwill, we determined the Schuh Group reporting unit was valued at approximately $8.2 million in excess of its carrying value. Due to the identified indicators of impairment in the first quarter of Fiscal 2021, we determined that it was “more likely than not” that an impairment had occurred and performed a full valuation of our Schuh Group reporting. Based upon the results of these analyses, we concluded the goodwill attributed to Schuh Group was fully impaired. As a result, we recorded an impairment charge of $79.3 million in the first quarter of Fiscal 2021.

Goodwill Valuation (Schuh Group)

We estimated the fair value of our Schuh reporting unit in the first quarter of Fiscal 2021 using a discounted cash flow method (income approach) weighted 50% and a guideline public company method (market approach) weighted 50%. The key assumptions used under the income approach include the following:

• Future cash flow assumptions - Our projections for the Schuh reporting unit were based on organic growth and were derived from historical experience and assumptions regarding future growth and profitability trends, including considerations for the impact from the outbreak of the COVID-19 pandemic. Our analysis incorporated an assumed period of cash flows of seven years with a terminal value.

• Discount rate - The discount rate was based on an estimated WACC for the reporting unit. The components of WACC are the cost of equity and the cost of debt, each of which requires judgment by management to estimate. We developed our cost of equity estimate based on perceived risks and predictability of future cash flows. The WACC used to estimate the fair values of the Schuh reporting unit was 16%.

The guideline company method involves analyzing transaction and financial data of publicly traded companies to develop multiples, which are adjusted to account for differences in growth prospects and risk profiles of the reporting unit and comparable companies.

Trademark Valuation

In addition, as a result of the factors noted above, we evaluated the fair value of our trademarks during the first quarter of Fiscal 2021. The fair value of trademarks was determined based on the royalty savings approach. This analysis indicated trademark impairment in our Journeys Group and Johnston & Murphy Group. As a result, we recorded a trademark impairment of $5.3 million in the first quarter of Fiscal 2021. This charge is included in asset impairment and other, net in the accompanying Condensed Consolidated Statements of Operations.

Note 3

Goodwill and Other Intangible Assets, Continued

Key assumptions included in the estimation of the fair value for trademarks include the following:

• Future cash flow assumptions - Future cash flow assumptions include retail sales from our retail store operations and ecommerce retail sales. Sales were based on organic growth and were derived from historical experience and assumptions regarding future growth, including considerations for the impact from the outbreak of the COVID-19 pandemic. Our analysis incorporated an assumed period of cash flows of five years with a terminal value.

• Royalty rate - The royalty rate used to estimate the fair values of our reporting units’ trademarks was 1%.

• Discount rate - The discount rate was based on an estimated weighted average cost of capital ("WACC") for each business. The components of WACC are the cost of equity and the cost of debt, each of which requires judgment by management to estimate. The WACC used to estimate the fair values of our reporting units’ trademarks was 15%.

Other intangibles by major classes were as follows:

	Trademarks				Customer Lists⁽¹⁾						Other⁽²⁾						Total
(In thousands)	Aug. 1, 2020		Feb. 1, 2020		Aug. 1, 2020			Feb. 1, 2020			Aug. 1, 2020			Feb. 1, 2020			Aug. 1, 2020			Feb. 1, 2020
Gross other intangibles	$	25,239	$	31,023	$	6,548		$	6,562		$	763		$	767		$	32,550		$	38,352
Accumulated amortization		—		—		(1,779	)		(1,509	)		(763	)		(479	)		(2,542	)		(1,988	)
Net Other Intangibles	$	25,239	$	31,023	$	4,769		$	5,053		$	—		$	288		$	30,008		$	36,364

⁽¹⁾ Includes $5.1 million for the acquisition of substantially all the assets and the assumption of certain liabilities of Togast LLC, Togast Direct,LLC and TGB Design, LLC (collectively, “Togast”).

⁽²⁾Includes backlog and vendor contract.

Asset Impairments and Other Charges

6 Months Ended

Aug. 01, 2020

Asset Impairment Charges [Abstract]

Asset Impairments and Other Charges

Note 4

Asset Impairments and Other Charges

Asset impairment charges are reflected as a reduction of the net carrying value of property and equipment in the accompanying Condensed Consolidated Balance Sheets, and in asset impairments and other, net in the accompanying Condensed Consolidated Statements of Operations.

We recorded pretax charges of $1.7 million in the second quarter of Fiscal 2021 for retail store asset impairments. We recorded pretax charges of $9.6 million in the first six months of Fiscal 2021, including $5.3 million for trademark impairment and $4.8 million for retail store asset impairments, partially offset by a $(0.4) million gain for the release of an earnout related to the Togast acquisition. We recorded a pretax charge of $1.8 million in the second quarter of Fiscal 2020, including $1.0 million for lease terminations and $0.7 million for retail store asset impairments. We recorded pretax charges of $1.0 million in the first six months of Fiscal 2020 for retail store asset impairments.

Inventories

6 Months Ended

Aug. 01, 2020

Inventory Disclosure [Abstract]

Inventories

Note 5

Inventories

(In thousands)	August 1, 2020		February 1, 2020
Wholesale finished goods	$	41,911	$	34,271
Retail merchandise		323,356		330,998
Total Inventories	$	365,267	$	365,269

Fair Value

6 Months Ended

Aug. 01, 2020

Fair Value Disclosures [Abstract]

Fair Value

Note 6

Fair Value

Fair Value of Financial Instruments

The carrying amounts and fair values of our financial instruments at August 1, 2020 and February 1, 2020 are as follows:

Fair Values
(In thousands)	August 1, 2020				February 1, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
U.S. Revolver Borrowings	$	186,049	$	186,171	$	14,393	$	14,056
UK Revolver Borrowings		24,860		24,846		—		—

As of August 1, 2020, we have $32.4 million of long-lived assets held and used which were measured using Level 3 inputs within the fair value hierarchy. We recorded $1.7 million and $4.8 million of impairment charges as a result of the fair value measurement of our long-lived assets held and used during the three months and six months ended August 1, 2020, respectively. These charges are reflected in asset impairments and other, net on the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Long-Term Debt

6 Months Ended

Aug. 01, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Note 7

Long-Term Debt

On March 19, 2020, Schuh Limited ("Schuh") entered into an Amendment and Restatement Agreement (the "U.K. A&R Agreement") with Lloyds Bank which amended and restated the Amendment and Restatement Agreement dated April 26, 2017. The U.K. A&R Agreement includes only a Facility C revolving credit agreement of £19.0 million, bears interest at LIBOR plus 2.2% per annum and expires in September 2020. We are in the process of finalizing alternative financing arrangements to replace the U.K. A&R Agreement when it expires. The U.K. A&R Agreement contains certain covenants at the Schuh level, including a minimum interest coverage covenant of 4.50x and a maximum leverage covenant of 1.75x. The U.K. A&R Agreement is secured by a pledge of all the assets of Schuh and Schuh (ROI) Limited. Pursuant to a Guarantee in favor of Lloyds, Genesco Inc. has guaranteed the obligations of Schuh under the U.K. A&R Agreement on an unsecured basis.

On June 5, 2020, we entered into a Second Amendment (the “Second Amendment”) to our Fourth Amended and Restated Credit Agreement dated as of January 31, 2018 between us and the lenders party thereto and Bank of America, N.A. as agent (as amended, the “Credit Facility” or the “Credit Agreement”), to, among other things, increase the Total Commitments (as defined in the Credit Facility) for the revolving loans from $275.0 million to $332.5 million, establish a first-in, last-out (“FILO”) tranche of indebtedness of $17.5 million, for $350.0 million of total capacity, increase pricing on the revolving loans and modify certain covenant and reporting terms. The Credit Facility will continue to be secured by certain assets of the Company and certain subsidiaries of the Company, including accounts receivable, inventory, payment intangibles, and deposit accounts and specifically excludes equity interests, equipment, and most leasehold interests. The Second Amendment to our Credit Facility added a security interest in certain intellectual property. The Second Amendment also provides for the borrowing base expansion to include real estate as those assets are added as collateral. In addition, the Second Amendment adds customary real estate covenants to the Credit Facility. The Credit Facility matures on January 31, 2023.

We borrowed $171.6 million under our Credit Facility during the six months ended August 1, 2020 as a precautionary measure to ensure funds are available to meet our obligations for a substantial period of time in response to the COVID-19 pandemic. On September 10, 2020, we paid down $150.0 million of the borrowings under the Credit Facility and an additional $4.0 million (C$5.4 million) related to GCO Canada, Inc.

In addition, we borrowed £19.0 million ($24.9 million) under the U.K. A&R Agreement during the six months ended August 1, 2020 as a precautionary measure to ensure funds are available to meet our obligations in the UK for a substantial period of time in response to the COVID-19 pandemic.

(In thousands)	August 1, 2020			February 1, 2020
U.S. revolver borrowings	$	186,049		$	14,393
U.K. revolver borrowings		24,860			—
Total debt		210,909			14,393
Current portion		(24,860	)		—
Total Noncurrent Portion of Long-Term Debt	$	186,049		$	14,393

The long-term debt balance of $186.0 million bears interest at an average rate of 3.65% and matures in January 2023.

The revolver borrowings outstanding under the Credit Facility at August 1, 2020 were $186.0 million, including $14.5 million (£11.1 million) related to Genesco (UK) Limited and $4.0 million (C$5.4 million) related to GCO Canada Inc. We had outstanding letters of credit of $9.4 million under the Credit Facility at August 1, 2020. These letters of credit support lease and insurance obligations.

Earnings Per Share

6 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 8

Earnings Per Share

Weighted-average number of shares used to calculate earnings per share is as follows:

	Three Months Ended				Six Months Ended
(Shares in thousands)	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
Weighted-average number of shares - basic		14,179		15,959		14,145		16,802
Common stock equivalents		-		69		-		137
Weighted-average number of shares - diluted		14,179		16,028		14,145		16,939

Due to the loss from continuing operations in the second quarter and first six months ended August 1, 2020, share-based awards are excluded from the diluted earnings per share calculation for those periods because they would be antidilutive.

Legal Proceedings and Other Matters

6 Months Ended

Aug. 01, 2020

Commitments And Contingencies Disclosure [Abstract]

Legal Proceedings and Other Matters

Note 9

Legal Proceedings and Other Matters

Environmental Matters

New York State Environmental Matters

In August 1997, the New York State Department of Environmental Conservation (“NYSDEC”) and the Company entered into a consent order whereby we assumed responsibility for conducting a remedial investigation and feasibility study and implementing an interim remedial measure with regard to the site of a knitting mill operated by a former subsidiary of ours from 1965 to 1969. The United States Environmental Protection Agency (“EPA”), which assumed primary regulatory responsibility for the site from NYSDEC, issued a Record of Decision in September 2007. The Record of Decision specified a remedy of a combination of groundwater extraction and treatment and in-situ chemical oxidation.

In September 2015, the EPA adopted an amendment to the Record of Decision eliminating the separate ground-water extraction and treatment systems and the use of in-situ oxidation from the remedy adopted in the Record of Decision. The amendment provides for the continued operation and maintenance of the existing wellhead treatment systems on wells operated by the Village of Garden City, New York (the "Village"). It also requires us to perform certain ongoing monitoring, operation and maintenance activities and to reimburse EPA's future oversight cost, involving future costs to us estimated to be between $1.7 million and $2.0 million, and to reimburse EPA for approximately $1.25 million of interim oversight costs. On August 15, 2016, the Court entered a Consent Judgment implementing the remedy provided for by the amendment.

The Village additionally asserted that we are liable for the costs associated with enhanced treatment required by the impact of the groundwater plume from the site on two public water supply wells, including historical total costs ranging from approximately $1.8 million to in excess of $2.5 million, and future operation and maintenance costs which the Village estimated at $126,400 annually while the enhanced treatment continues. On December 14, 2007, the Village filed a complaint (the "Village Lawsuit") against us and the owner of the property under the Resource Conservation and Recovery Act (“RCRA”), the Safe Drinking Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) as well as a number of state law theories in the U.S. District Court for the Eastern District of New York, seeking an injunction requiring the defendants to remediate contamination from the site and to establish their liability for future costs that may be incurred in connection with it.

In June 2016 we reached an agreement with the Village providing for the Village to continue to operate and maintain the well head treatment systems in accordance with the Record of Decision and to release its claims against us asserted in the Village Lawsuit in exchange for a lump-sum payment of $10.0 million by us. On August 25, 2016, the Village Lawsuit was dismissed with prejudice. The cost of the settlement with the Village and the estimated costs associated with our compliance with the Consent Judgment were covered by our existing provision for the site. The settlement with the Village did not have, and we expect that the Consent Judgment will not have, a material effect on our financial condition or results of operations.

In April 2015, we received from EPA a Notice of Potential Liability and Demand for Costs (the "Notice") pursuant to CERCLA regarding the site in Gloversville, New York of a former leather tannery operated by us and by other, unrelated parties. The Notice demanded payment of approximately $2.2 million of response costs claimed by EPA to have been incurred to conduct assessments and removal activities at the site. In February 2017, we entered into a settlement agreement with EPA resolving their claim for past response costs in exchange for a payment by us of $1.5 million which was paid in May 2017. Our environmental insurance carrier has reimbursed us for 75% of the settlement amount, subject to a $500,000 self-insured retention. We do not expect any additional cost related to the matter.

Whitehall Environmental Matters

We have performed sampling and analysis of soil, sediments, surface water, groundwater and waste management areas at our former Volunteer Leather Company facility in Whitehall, Michigan.

In October 2010, we entered into a Consent Decree with the Michigan Department of Natural Resources and Environment providing for implementation of a remedial Work Plan for the facility site designed to bring the site into compliance with applicable regulatory standards. The Work Plan's implementation is substantially complete and we expect, based on our present understanding of the condition of the site, that our future obligations with respect to the site will be limited to periodic monitoring and that future costs related to the site should not have a material effect on our financial condition or results of operations.

Note 9

Legal Proceedings and Other Matters, Continued

Accrual for Environmental Contingencies

Related to all outstanding environmental contingencies, we had accrued $1.5 million as of August 1, 2020, $1.5 million as of February 1, 2020 and $1.7 million as of August 3, 2019. All such provisions reflect our estimates of the most likely cost (undiscounted, including both current and noncurrent portions) of resolving the contingencies, based on facts and circumstances as of the time they were made. There is no assurance that relevant facts and circumstances will not change, necessitating future changes to the provisions. Such contingent liabilities are included in the liability arising from provision for discontinued operations on the accompanying Consolidated Balance Sheets because it relates to former facilities operated by us. We have made pretax accruals for certain of these contingencies, including approximately $0.2 million and $0.3 million in the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $0.2 million and $0.4 million in the first six months of Fiscal 2021 and Fiscal 2020, respectively. These charges are included in loss from discontinued operations, net in the Consolidated Statements of Operations and represent changes in estimates.

Other Matters

In the fourth quarter of Fiscal 2020, the IRS notified us on Letter 226-J, that we may be liable for an Employer Shared Responsibility Payment (“ESRP”) in the amount of $4.2 million for the year ended December 31, 2017. The ESRP is applicable to employers that had 50 or more full-time equivalent employees, did not offer minimum essential coverage (“MEC”) to at least 95% of full-time employees (and their dependents) or did offer MEC to at least 95% of full time-employees (and their dependents), which did not meet the affordable or minimum value criteria and had one or more employees who claimed the Employee Premium Tax Credit (“PTC”) pursuant to the Affordable Care Act (the “ACA”). The IRS determines which employers receive Letter 226-J and the amount of the proposed ESRP from information that the employers complete on their information returns (IRS Forms 1094-C and 1095-C) and from the income tax returns of their employees. Since the inception of the ACA, it has been our policy to offer MEC to all full-time employees and their dependents. Based on our analysis, we responded to the IRS on January 15, 2020 asserting that we did offer MEC to at least 95% of our full-time employees for each month of 2017 and noting that the discrepancy was caused by errors in the electronic files uploaded through the ACA information return system. The IRS has requested that we provide some additional information, and we provided that information on September 2, 2020. However, we do not believe we have any liability with respect to this matter. As a result, we did not make an accrual for this matter for the year ended February 1, 2020 or the six months ended August 1, 2020.

On July 22, 2020, Pontegadea UK Ltd. (the “Pontegadea”) filed a claim against Schuh Ltd. in the Queen’s Bench Division of the U.K. High Court of Justice regarding unpaid rent, service charges and insurance for certain premises located at 34-48 Oxford Street in London. Pontegadea is seeking to recover £845,500, plus £10,000 of court fees and interest. The claim is in its early stages and we are contesting the liability. The unpaid rent, service charges and insurance have been accrued as of August 1, 2020.

In addition to the matters specifically described in this Note, we are a party to other legal and regulatory proceedings and claims arising in the ordinary course of our business or specifically related to the COVID-19 pandemic. While management does not believe that our liability with respect to any of these other matters is likely to have a material effect on our financial statements, legal proceedings are subject to inherent uncertainties and unfavorable rulings could have a material adverse impact on our financial statements.

Business Segment Information

6 Months Ended

Aug. 01, 2020

Segment Reporting [Abstract]

Business Segment Information

Note 10

Business Segment Information

Three Months Ended August 1, 2020 (In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
Sales	$	276,631	$	71,732		$	24,097		$	19,114		$	—		$	391,574
Intercompany sales		—		—			—			(357	)		—			(357	)
Net sales to external customers	$	276,631	$	71,732		$	24,097		$	18,757		$	—		$	391,217
Segment operating income (loss)	$	10,160	$	(6,838	)	$	(18,243	)	$	(1,222	)	$	(4,118	)	$	(20,261	)
Asset impairments and other⁽¹⁾		—		—			—			—			1,733			1,733
Operating income (loss)		10,160		(6,838	)		(18,243	)		(1,222	)		(5,851	)		(21,994	)
Other components of net periodic benefit income		—		—			—			—			(182	)		(182	)
Interest expense		—		—			—			—			1,965			1,965
Interest income		—		—			—			—			(47	)		(47	)
Earnings (loss) from continuing operations before income taxes	$	10,160	$	(6,838	)	$	(18,243	)	$	(1,222	)	$	(7,587	)	$	(23,730	)
Total assets⁽²⁾	$	855,201	$	249,666		$	185,375		$	84,730		$	395,056		$	1,770,028
Depreciation and amortization		7,271		2,318			1,452			356			390			11,787
Capital expenditures		2,660		145			891			103			101			3,900

⁽¹⁾ Asset impairments and other includes a $1.7 million charge for retail store asset impairments, which includes $0.4 million in Schuh Group and $1.3 million in Journeys Group.

⁽²⁾ Of our $890.8 million of long-lived assets, $151.3 million and $39.8 million relate to long-lived assets in the United Kingdom and Canada, respectively.

Note 10

Business Segment Information, Continued

Three Months Ended August 3, 2019 (In thousands)	Journeys Group		Schuh Group		Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
Sales	$	315,175		92,476	$	67,267	$	11,580		$	72		$	486,570
Intercompany sales		—		—		—		3			—			3
Net sales to external customers	$	315,175	$	92,476	$	67,267	$	11,583		$	72		$	486,573
Segment operating income (loss)	$	11,329	$	39	$	1,518	$	(251	)	$	(7,898	)	$	4,737
Asset impairments and other⁽¹⁾		—		—		—		—			1,775			1,775
Operating income (loss)		11,329		39		1,518		(251	)		(9,673	)		2,962
Other components of net periodic benefit income		—		—		—		—			(93	)		(93	)
Interest expense		—		—		—		—			835			835
Interest income		—		—		—		—			(488	)		(488	)
Earnings (loss) from continuing operations before income taxes	$	11,329	$	39	$	1,518	$	(251	)	$	(9,927	)	$	2,708
Total assets⁽²⁾	$	997,604		357,537	$	217,499	$	18,768		$	164,119		$	1,755,527
Depreciation and amortization		7,163		2,897		1,498		117			640			12,315
Capital expenditures		4,130		1,094		958		188			140			6,510

⁽¹⁾ Asset impairments and other includes a $1.0 million charge for lease terminations and $0.7 million charge for retail store asset impairments, which includes $0.6 million in Schuh Group and $0.1 million in Journeys Group.

⁽²⁾ Total assets for the Schuh Group and Journeys Group include $77.4 million and $9.8 million of goodwill, respectively. Goodwill for Schuh Group decreased by $5.9 million and goodwill for Journeys Group decreased by $0.1 million from February 2, 2019, due to foreign currency translation adjustments. Of our $1.02 billion of long-lived assets, $172.2 million and $53.0 million relate to long-lived assets in the United Kingdom and Canada, respectively.

Note 10 Business Segment Information, Continued Six Months Ended August 1, 2020 (In thousands)	Journeys Group			Schuh Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
Sales	$	445,556		$	118,897		$	62,946		$	43,795		$	—		$	671,194
Intercompany sales		—			—			—			(745	)		—			(745	)
Net sales to external customers	$	445,556		$	118,897		$	62,946		$	43,050		$	—		$	670,449
Segment operating loss	$	(26,923	)	$	(21,924	)	$	(27,827	)	$	(3,723	)	$	(8,762	)	$	(89,159	)
Goodwill impairment⁽¹⁾		-			-			-			-			79,259			79,259
Asset impairments and other⁽²⁾		—			—			—			—			9,594			9,594
Operating loss		(26,923	)		(21,924	)		(27,827	)		(3,723	)		(97,615	)		(178,012	)
Other components of net periodic benefit income		—			—			—			—			(306	)		(306	)
Interest expense		—			—			—			—			3,014			3,014
Interest income		—			—			—			—			(240	)		(240	)
Earnings (loss) from continuing operations before income taxes	$	(26,923	)	$	(21,924	)	$	(27,827	)	$	(3,723	)	$	(100,083	)	$	(180,480	)
Depreciation and amortization		14,724			4,957			2,928			823			778			24,210
Capital expenditures		5,852			1,838			2,568			75			309			10,642

⁽¹⁾ Goodwill impairment of $79.3 million is related to Schuh Group.

⁽²⁾ Asset impairments and other includes a $4.8 million charge for retail store asset impairments, which includes $1.2 million in Johnston & Murphy Group, $1.6 million in Schuh Group and $2.0 million in Journeys Group, and a $5.3 million trademark impairment, which includes $4.9 million in Journeys Group and $0.4 million in Johnston & Murphy Group.

Six Months Ended August 3, 2019 (In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group		Licensed Brands		Corporate & Other			Consolidated
Sales	$	639,147	$	169,320		$	142,001	$	31,666	$	90		$	982,224
Intercompany sales		—		—			—		—		—			—
Net sales to external customers	$	639,147	$	169,320		$	142,001	$	31,666	$	90		$	982,224
Segment operating income (loss)	$	30,305	$	(5,389	)	$	6,624	$	178	$	(18,628	)	$	13,090
Asset impairments and other⁽¹⁾		—		—			—		—		1,044			1,044
Operating income (loss)		30,305		(5,389	)		6,624		178		(19,672	)		12,046
Other components of net periodic benefit income		—		—			—		—		(179	)		(179	)
Interest expense		—		—			—		—		1,683			1,683
Interest income		—		—			—		—		(1,502	)		(1,502	)
Earnings (loss) from continuing operations before income taxes	$	30,305	$	(5,389	)	$	6,624	$	178	$	(19,674	)	$	12,044
Depreciation and amortization		14,483		5,996			3,124		265		1,250			25,118
Capital expenditures		8,097		2,767			1,820		250		317			13,251

⁽¹⁾ Asset impairments and other includes a $1.0 million charge for retail store asset impairments, which includes $0.1 million for Journeys Group and $0.9 million for Schuh Group.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Discontinued Operations

6 Months Ended

Aug. 01, 2020

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

Note 11

Discontinued Operations

As part of the Lids Sports Group sales transaction on February 2, 2019, the purchaser has agreed to indemnify and hold us harmless in connection with continuing obligations and any guarantees of ours in place as of February 2, 2019 in respect of post-closing or assumed liabilities or obligations of the Lids Sports Group business. The purchaser has agreed to use commercially reasonable efforts to have any guarantees by, or continuing obligations of, the Company released. However, we are contingently liable in the event of a breach by the purchaser of any such obligation to a third-party. In addition, we are a guarantor for 34 Lids Sports Group leases with lease expirations through October of 2027 and estimated maximum future payments totaling $17.9 million as of August 1, 2020. We do not believe the fair value of the guarantees is material to our Condensed Consolidated Financial Statements.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Aug. 01, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements and Notes contained in this report are unaudited but reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending January 30, 2021 ("Fiscal 2021") and of the fiscal year ended February 1, 2020 ("Fiscal 2020"). All subsidiaries are consolidated in the Condensed Consolidated Financial Statements. All significant intercompany transactions and accounts have been eliminated. The results of operations for any interim period are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted. The Condensed Consolidated Balance Sheet as of February 1, 2020 has been derived from the audited financial statements at that date. These Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and notes for Fiscal 2020, which are contained in our Annual Report on Form 10-K as filed with the SEC on April 1, 2020.
Nature of Operations	Nature of Operations Genesco Inc. and its subsidiaries (collectively the "Company", "we", "our", or "us") business includes the sourcing and design, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Little Burgundy and Johnston & Murphy banners and under the Schuh banner in the United Kingdom and the Republic of Ireland (“ROI”); through catalogs and e-commerce websites including the following: journeys.com, journeyskidz.com, journeys.ca, schuh.co.uk, schuh.ie, schuh.eu, johnstonmurphy.com and littleburgundyshoes.com and at wholesale, primarily under our Johnston & Murphy brand, the licensed Dockers brand, the licensed Levi's brand, the licensed Bass brand and other brands that we license for footwear. At August 1, 2020, we operated 1,476 retail stores in the U.S., Puerto Rico, Canada, the United Kingdom and the ROI. During the three and six months ended August 1, 2020 and August 3, 2019, we operated four reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz and Little Burgundy retail footwear chains and e-commerce operations; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce operations and wholesale distribution of products under the Johnston & Murphy^® brand; and (iv) Licensed Brands, comprised of the licensed Dockers^®, Levi's^®, and Bass^® brands, as well as other brands we license for footwear.
Cash and Cash Equivalents	Cash and Cash Equivalents Our foreign subsidiaries held cash of approximately $42.2 million, $8.9 million and $10.8 million as of August 1, 2020, February 1, 2020 and August 3, 2019, respectively, which is included in cash and cash equivalents on the Condensed Consolidated Balance Sheets. There were $241.1 million, $59.6 million and $17.5 million in cash equivalents at August 1, 2020, February 1, 2020 and August 3, 2019, respectively. At August 1, 2020, February 1, 2020 and August 3, 2019, outstanding checks drawn on zero-balance accounts at certain domestic banks exceeded book cash balances at those banks by approximately $4.1 million, $17.1 million and $9.4 million, respectively. These amounts are included in accounts payable in the Condensed Consolidated Balance Sheets.
Concentration of Credit Risk and Allowances on Accounts Receivable	Concentration of Credit Risk and Allowances on Accounts Receivable Our footwear wholesale businesses sell primarily to department stores and independent retailers across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer-specific factors. In the footwear wholesale businesses, one customer accounted for 19%, one customer accounted for 15%, one customer accounted for 13% and no other customer accounted for more than 7% of our total trade receivables balance as of August 1, 2020.
Selling and Administrative Expenses	Selling and Administrative Expenses Wholesale costs of distribution are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations in the amount of $2.2 million and $1.3 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $4.6 million and $2.7 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively. Retail occupancy costs recorded in selling and administrative expense were $71.5 million and $85.9 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $148.7 million and $169.1 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively.
Advertising Costs	Advertising Costs Advertising costs were $14.1 million and $16.5 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $28.6 million and $30.2 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively.
Vendor Allowances	Vendor Allowances Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $0.9 million and $2.3 million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and $2.7 million and $4.2 million for the first six months of Fiscal 2021 and Fiscal 2020, respectively. During the first six months of Fiscal 2021 and Fiscal 2020, our cooperative advertising reimbursements received were not in excess of the costs incurred.
Foreign Currency Translation	Foreign Currency Translation The functional currency of our foreign operations is the applicable local currency. The translation of the applicable foreign currency into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date. Income and expense accounts are translated at monthly average exchange rates. The unearned gains and losses resulting from such translation are included as a separate component of accumulated other comprehensive loss within shareholders' equity. Gains and losses from certain foreign currency transactions are reported as an item of income and resulted in net income of $(0.4) million and $(0.2) million for the second quarters of Fiscal 2021 and Fiscal 2020, respectively, and net income of $(0.5) million for the first six months of Fiscal 2021 and a net loss of $0.1 million for the first six months of Fiscal 2020.
New Accounting Pronouncements	New Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-13 guidance related to the disclosure requirements for fair value measurement. This guidance added, modified and removed certain disclosure requirements related to assets and liabilities recorded at fair value. This guidance is effective for public business entities for fiscal years and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted. We adopted this guidance in the first quarter of Fiscal 2021 and it had no impact to our results of operations, financial position or cash flows. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", which requires entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The FASB has subsequently issued updates to the standard to provide additional clarification on specific topics. We adopted ASU No. 2016-13 in the first quarter of Fiscal 2021. This guidance did not have a material impact on our Condensed Consolidated Financial Statements.

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Aug. 01, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill by Segment

The changes in the carrying amount of goodwill by segment were as follows:

(In thousands)	Schuh Group			Journeys Group			Licensed Brands Group			Total Goodwill
Balance, February 1, 2020	$	84,069		$	9,730		$	28,385		$	122,184
Change in opening balance sheet		—			—			(55	)		(55	)
Impairment		(79,259	)		—			—			(79,259	)
Effect of foreign currency exchange rates		(4,810	)		(129	)		—			(4,939	)
Balance, August 1, 2020	$	—		$	9,601		$	28,330		$	37,931

Summary of Other Intangible Assets

Other intangibles by major classes were as follows:

	Trademarks				Customer Lists⁽¹⁾						Other⁽²⁾						Total
(In thousands)	Aug. 1, 2020		Feb. 1, 2020		Aug. 1, 2020			Feb. 1, 2020			Aug. 1, 2020			Feb. 1, 2020			Aug. 1, 2020			Feb. 1, 2020
Gross other intangibles	$	25,239	$	31,023	$	6,548		$	6,562		$	763		$	767		$	32,550		$	38,352
Accumulated amortization		—		—		(1,779	)		(1,509	)		(763	)		(479	)		(2,542	)		(1,988	)
Net Other Intangibles	$	25,239	$	31,023	$	4,769		$	5,053		$	—		$	288		$	30,008		$	36,364

⁽²⁾Includes backlog and vendor contract.

Inventories (Tables)

6 Months Ended

Aug. 01, 2020

Inventory Disclosure [Abstract]

Schedule of Inventories

(In thousands)	August 1, 2020		February 1, 2020
Wholesale finished goods	$	41,911	$	34,271
Retail merchandise		323,356		330,998
Total Inventories	$	365,267	$	365,269

Fair Value (Tables)

6 Months Ended

Aug. 01, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Financial Instruments

The carrying amounts and fair values of our financial instruments at August 1, 2020 and February 1, 2020 are as follows:

Fair Values
(In thousands)	August 1, 2020				February 1, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
U.S. Revolver Borrowings	$	186,049	$	186,171	$	14,393	$	14,056
UK Revolver Borrowings		24,860		24,846		—		—

Long-Term Debt (Tables)

6 Months Ended

Aug. 01, 2020

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

(In thousands)	August 1, 2020			February 1, 2020
U.S. revolver borrowings	$	186,049		$	14,393
U.K. revolver borrowings		24,860			—
Total debt		210,909			14,393
Current portion		(24,860	)		—
Total Noncurrent Portion of Long-Term Debt	$	186,049		$	14,393

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Earnings Per Share (Tables)

6 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Summary of Weighted-Average Number of Shares

Weighted-average number of shares used to calculate earnings per share is as follows:

	Three Months Ended				Six Months Ended
(Shares in thousands)	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
Weighted-average number of shares - basic		14,179		15,959		14,145		16,802
Common stock equivalents		-		69		-		137
Weighted-average number of shares - diluted		14,179		16,028		14,145		16,939

Business Segment Information (Tables)

6 Months Ended

Aug. 01, 2020

Segment Reporting [Abstract]

Schedule of Business Segment Information

Three Months Ended August 1, 2020 (In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
Sales	$	276,631	$	71,732		$	24,097		$	19,114		$	—		$	391,574
Intercompany sales		—		—			—			(357	)		—			(357	)
Net sales to external customers	$	276,631	$	71,732		$	24,097		$	18,757		$	—		$	391,217
Segment operating income (loss)	$	10,160	$	(6,838	)	$	(18,243	)	$	(1,222	)	$	(4,118	)	$	(20,261	)
Asset impairments and other⁽¹⁾		—		—			—			—			1,733			1,733
Operating income (loss)		10,160		(6,838	)		(18,243	)		(1,222	)		(5,851	)		(21,994	)
Other components of net periodic benefit income		—		—			—			—			(182	)		(182	)
Interest expense		—		—			—			—			1,965			1,965
Interest income		—		—			—			—			(47	)		(47	)
Earnings (loss) from continuing operations before income taxes	$	10,160	$	(6,838	)	$	(18,243	)	$	(1,222	)	$	(7,587	)	$	(23,730	)
Total assets⁽²⁾	$	855,201	$	249,666		$	185,375		$	84,730		$	395,056		$	1,770,028
Depreciation and amortization		7,271		2,318			1,452			356			390			11,787
Capital expenditures		2,660		145			891			103			101			3,900

⁽¹⁾ Asset impairments and other includes a $1.7 million charge for retail store asset impairments, which includes $0.4 million in Schuh Group and $1.3 million in Journeys Group.

⁽²⁾ Of our $890.8 million of long-lived assets, $151.3 million and $39.8 million relate to long-lived assets in the United Kingdom and Canada, respectively.

Note 10

Business Segment Information, Continued

Three Months Ended August 3, 2019 (In thousands)	Journeys Group		Schuh Group		Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
Sales	$	315,175		92,476	$	67,267	$	11,580		$	72		$	486,570
Intercompany sales		—		—		—		3			—			3
Net sales to external customers	$	315,175	$	92,476	$	67,267	$	11,583		$	72		$	486,573
Segment operating income (loss)	$	11,329	$	39	$	1,518	$	(251	)	$	(7,898	)	$	4,737
Asset impairments and other⁽¹⁾		—		—		—		—			1,775			1,775
Operating income (loss)		11,329		39		1,518		(251	)		(9,673	)		2,962
Other components of net periodic benefit income		—		—		—		—			(93	)		(93	)
Interest expense		—		—		—		—			835			835
Interest income		—		—		—		—			(488	)		(488	)
Earnings (loss) from continuing operations before income taxes	$	11,329	$	39	$	1,518	$	(251	)	$	(9,927	)	$	2,708
Total assets⁽²⁾	$	997,604		357,537	$	217,499	$	18,768		$	164,119		$	1,755,527
Depreciation and amortization		7,163		2,897		1,498		117			640			12,315
Capital expenditures		4,130		1,094		958		188			140			6,510

Note 10 Business Segment Information, Continued Six Months Ended August 1, 2020 (In thousands)	Journeys Group			Schuh Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
Sales	$	445,556		$	118,897		$	62,946		$	43,795		$	—		$	671,194
Intercompany sales		—			—			—			(745	)		—			(745	)
Net sales to external customers	$	445,556		$	118,897		$	62,946		$	43,050		$	—		$	670,449
Segment operating loss	$	(26,923	)	$	(21,924	)	$	(27,827	)	$	(3,723	)	$	(8,762	)	$	(89,159	)
Goodwill impairment⁽¹⁾		-			-			-			-			79,259			79,259
Asset impairments and other⁽²⁾		—			—			—			—			9,594			9,594
Operating loss		(26,923	)		(21,924	)		(27,827	)		(3,723	)		(97,615	)		(178,012	)
Other components of net periodic benefit income		—			—			—			—			(306	)		(306	)
Interest expense		—			—			—			—			3,014			3,014
Interest income		—			—			—			—			(240	)		(240	)
Earnings (loss) from continuing operations before income taxes	$	(26,923	)	$	(21,924	)	$	(27,827	)	$	(3,723	)	$	(100,083	)	$	(180,480	)
Depreciation and amortization		14,724			4,957			2,928			823			778			24,210
Capital expenditures		5,852			1,838			2,568			75			309			10,642

⁽¹⁾ Goodwill impairment of $79.3 million is related to Schuh Group.

Six Months Ended August 3, 2019 (In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group		Licensed Brands		Corporate & Other			Consolidated
Sales	$	639,147	$	169,320		$	142,001	$	31,666	$	90		$	982,224
Intercompany sales		—		—			—		—		—			—
Net sales to external customers	$	639,147	$	169,320		$	142,001	$	31,666	$	90		$	982,224
Segment operating income (loss)	$	30,305	$	(5,389	)	$	6,624	$	178	$	(18,628	)	$	13,090
Asset impairments and other⁽¹⁾		—		—			—		—		1,044			1,044
Operating income (loss)		30,305		(5,389	)		6,624		178		(19,672	)		12,046
Other components of net periodic benefit income		—		—			—		—		(179	)		(179	)
Interest expense		—		—			—		—		1,683			1,683
Interest income		—		—			—		—		(1,502	)		(1,502	)
Earnings (loss) from continuing operations before income taxes	$	30,305	$	(5,389	)	$	6,624	$	178	$	(19,674	)	$	12,044
Depreciation and amortization		14,483		5,996			3,124		265		1,250			25,118
Capital expenditures		8,097		2,767			1,820		250		317			13,251

⁽¹⁾ Asset impairments and other includes a $1.0 million charge for retail store asset impairments, which includes $0.1 million for Journeys Group and $0.9 million for Schuh Group.

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2020 USD ($) store segment	Aug. 03, 2019 USD ($) segment	Aug. 01, 2020 USD ($) store segment	Aug. 03, 2019 USD ($) segment	Feb. 01, 2020 USD ($)
Summary of Accounting Policies [Line Items]
Number of retail stores operated by company \| store	1,476		1,476
Number of reportable business segments \| segment	4	4	4	4
Cash and cash equivalents	$ 299,144	$ 57,965	$ 299,144	$ 57,965	$ 81,418
Cash equivalents	241,100	17,500	241,100	17,500	59,600
Excess of outstanding checks drawn on zero balance accounts at domestic banks exceeding book cash balance	4,100	9,400	4,100	9,400	17,100
Selling and administrative expenses	187,261	231,796	376,303	468,351
Advertising costs	14,100	16,500	28,600	30,200
Vendor reimbursements of cooperative advertising costs	900	2,300	2,700	4,200
Net (gain) loss from foreign currency transactions	$ (400)	(200)	$ (500)	100
ASU 2018-13
Summary of Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Feb. 02, 2020		Feb. 02, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true		true
ASU 2016-13
Summary of Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Feb. 02, 2020		Feb. 02, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true		true
Wholesale Costs of Distribution
Summary of Accounting Policies [Line Items]
Selling and administrative expenses	$ 2,200	1,300	$ 4,600	2,700
Retail Occupancy Costs
Summary of Accounting Policies [Line Items]
Selling and administrative expenses	71,500	85,900	$ 148,700	169,100
Major Customer One \| Customer Concentration Risk \| Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			19.00%
Major Customer Two \| Customer Concentration Risk \| Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			15.00%
Major Customer Three \| Customer Concentration Risk \| Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			13.00%
Other Major Customers \| Customer Concentration Risk \| Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			7.00%
Foreign Subsidiaries
Summary of Accounting Policies [Line Items]
Cash and cash equivalents	$ 42,200	$ 10,800	$ 42,200	$ 10,800	$ 8,900

COVID-19 - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
COVID-19 - Additional Information (Details) - USD ($)	Aug. 01, 2020	May 02, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019	Feb. 01, 2020
Unusual Or Infrequent Item [Line Items]
Asset impairment charge				$ 4,782,000	$ 1,038,000
Goodwill impairment charge	$ 0		$ 0	79,259,000	0
Bad debt expense				3,038,000	$ 91,000
Schuh Group
Unusual Or Infrequent Item [Line Items]
Goodwill impairment, excess fair value over its carrying value						$ 8,200,000
Goodwill impairment charge		$ 79,300,000		79,259,000
COVID-19
Unusual Or Infrequent Item [Line Items]
Asset impairment charge	1,700,000	3,000,000.0
Impairment charge	0
Bad debt expense	700,000	2,400,000
Inventory reserve provisions	2,500,000	1,800,000
Reduction in qualified payroll tax credits	3,800,000	7,000,000.0
Relief from property taxes	3,900,000	1,600,000
Deferred tax assets	12,400,000	14,600,000		12,400,000
COVID-19 \| Foreign Jurisdictions
Unusual Or Infrequent Item [Line Items]
Valuation allowance adjustments		2,000,000.0
Deferred tax assets	$ 1,000,000.0	900,000		$ 1,000,000.0
COVID-19 \| Schuh Group
Unusual Or Infrequent Item [Line Items]
Goodwill impairment, excess fair value over its carrying value						$ 8,200,000
Goodwill impairment charge		79,300,000
COVID-19 \| Trademark
Unusual Or Infrequent Item [Line Items]
Impairment charge		$ 5,300,000

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Aug. 01, 2020	May 02, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 122,184		$ 122,184
Change in opening balance sheet				(55)
Impairment	$ 0		$ 0	(79,259)	$ 0
Effect of foreign currency exchange rates				(4,939)
Goodwill, ending balance	37,931		87,126	37,931	87,126
Schuh Group
Goodwill [Roll Forward]
Goodwill, beginning balance		84,069		84,069
Change in opening balance sheet				0
Impairment		(79,300)		(79,259)
Effect of foreign currency exchange rates			(5,900)	(4,810)
Goodwill, ending balance	0		77,400	0	77,400
Journeys Group
Goodwill [Roll Forward]
Goodwill, beginning balance		9,730		9,730
Change in opening balance sheet				0
Impairment				0
Effect of foreign currency exchange rates			(100)	(129)
Goodwill, ending balance	9,601		$ 9,800	9,601	$ 9,800
Licensed Brands Group
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 28,385		28,385
Change in opening balance sheet				(55)
Impairment				0
Effect of foreign currency exchange rates				0
Goodwill, ending balance	$ 28,330			$ 28,330

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Aug. 01, 2020	May 02, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019	Feb. 01, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge	$ 0		$ 0	$ 79,259	$ 0
Period of cash flows with terminal value				5 years
Percentage of discount rate based on weighted average cost of capital used to estimate fair values of reporting units				15.00%
Percentage of royalty rate used to estimate fair values of reporting units				1.00%
Schuh Group
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment, excess fair value over its carrying value						$ 8,200
Percentage of estimated impairment		50.00%
Goodwill impairment charge		$ 79,300		$ 79,259
Percentage of estimated fair value of reporting unit using discounted cash flow method	50.00%			50.00%
Percentage of estimated fair value of reporting unit using guideline public company method	50.00%			50.00%
Period of cash flows with terminal value				7 years
Percentage of discount rate based on weighted average cost of capital used to estimate fair values of reporting units				16.00%
Journeys Group and Johnston & Murphy Group
Acquired Finite-Lived Intangible Assets [Line Items]
Trademark impairment		$ 5,300

Goodwill and Other Intangible Assets - Summary of Other Intangibles Assets (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Other intangibles by major classes
Gross other intangibles	$ 32,550	$ 38,352
Accumulated amortization	(2,542)	(1,988)
Net Other Intangibles	30,008	36,364	$ 29,559
Trademarks
Other intangibles by major classes
Gross other intangibles	25,239	31,023
Accumulated amortization	0	0
Net Other Intangibles	25,239	31,023
Customer Lists
Other intangibles by major classes
Gross other intangibles	6,548	6,562
Accumulated amortization	(1,779)	(1,509)
Net Other Intangibles	4,769	5,053
Other
Other intangibles by major classes
Gross other intangibles	763	767
Accumulated amortization	(763)	(479)
Net Other Intangibles	$ 0	$ 288

Goodwill and Other Intangible Assets - Summary of Other Intangibles Assets (Parenthetical) (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020
Finite Lived Intangible Assets [Line Items]
Other finite-lived intangible assets, gross	$ 32,550	$ 38,352
Customer Lists
Finite Lived Intangible Assets [Line Items]
Other finite-lived intangible assets, gross	6,548	6,562
Customer Lists \| Togast
Finite Lived Intangible Assets [Line Items]
Other finite-lived intangible assets, gross	$ 5,100	$ 5,100

Asset Impairments and Other Charges - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net	$ 1,733	$ 1,775	$ 9,594	$ 1,044
Trademarks
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net			5,300
Togast Acquisition
Restructuring Cost And Reserve [Line Items]
Gain for the release of an earn-out related to the acquisition			(400)
Lease Termination Expense
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net		1,000
Retail Store Asset Impairments
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net	$ 1,700	$ 700	$ 4,800	$ 1,000

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Inventories
Wholesale finished goods	$ 41,911	$ 34,271
Retail merchandise	323,356	330,998
Total Inventories	$ 365,267	$ 365,269	$ 444,706

Fair Value - Schedule of Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 210,909	$ 14,393
Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	186,000
U.S. Revolver Borrowings
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	186,049	14,393
U.S. Revolver Borrowings \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	186,049	14,393
Fair Value	186,171	14,056
UK Revolver Borrowings
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	24,860
UK Revolver Borrowings \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	24,860	0
Fair Value	$ 24,846	$ 0

Fair Value - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 01, 2020	Aug. 01, 2020	Aug. 03, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets		$ 4,782	$ 1,038
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	$ 32,400	32,400
Fair Value Measurements Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets	$ 1,700	$ 4,800

Long-Term Debt - Additional Information (Details) $ in Millions					6 Months Ended
	Sep. 10, 2020 USD ($)	Sep. 10, 2020 CAD ($)	Jun. 05, 2020 USD ($)	Mar. 19, 2020 GBP (£)	Aug. 01, 2020 USD ($)	Aug. 01, 2020 GBP (£)	Aug. 01, 2020 CAD ($)	Feb. 01, 2020 USD ($)	Jan. 31, 2018 USD ($)
Debt Instrument [Line Items]
Carrying Amount					$ 210,909,000			$ 14,393,000
Long-term debt maturing in year three					$ 186,000,000.0
Bearing interest rate					3.65%	3.65%	3.65%
Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal amount of credit facility			$ 332,500,000						$ 275,000,000.0
First-in, last-out (FILO) tranche of indebtedness			17,500,000
Aggregate principal amount of credit facility including FILO tranche of indebtedness			$ 350,000,000.0
Credit facility, maturity date			Jan. 31, 2023
Amount borrowed					$ 171,600,000
Carrying Amount					186,000,000.0
Revolving Credit Facility \| Subsequent Event
Debt Instrument [Line Items]
Amount of borrowings paid	$ 150,000,000.0
Revolving Credit Facility \| GCO Canada Inc
Debt Instrument [Line Items]
Carrying Amount					4,000,000.0		$ 5.4
Revolving Credit Facility \| GCO Canada Inc \| Subsequent Event
Debt Instrument [Line Items]
Amount of additional borrowings paid	$ 4,000,000.0	$ 5.4
Revolving Credit Facility \| Genesco (UK) Limited
Debt Instrument [Line Items]
Carrying Amount					14,500,000	£ 11,100,000
Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Carrying Amount					9,400,000
U.K. A&R Agreement \| Schuh Limited
Debt Instrument [Line Items]
Interest coverage covenant minimum level				4.50
Interest coverage covenant maximum level				1.75
U.K. A&R Agreement \| Facility C Revolving Credit Agreement
Debt Instrument [Line Items]
Credit facility expiration date				2020-09
U.K. A&R Agreement \| Facility C Revolving Credit Agreement \| Schuh Limited
Debt Instrument [Line Items]
Aggregate principal amount of credit facility \| £				£ 19,000,000
Carrying Amount					$ 24,900,000	£ 19,000,000
U.K. A&R Agreement \| Facility C Revolving Credit Agreement \| Schuh Limited \| LIBOR
Debt Instrument [Line Items]
Stated interest rate				2.20%

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Debt Instrument [Line Items]
Total debt	$ 210,909	$ 14,393
Current portion	(24,860)		$ (14,896)
Total Noncurrent Portion of Long-Term Debt	186,049	14,393	$ 60,244
U.S. Revolver Borrowings
Debt Instrument [Line Items]
Total debt	186,049	$ 14,393
U.K. Revolver borrowings
Debt Instrument [Line Items]
Total debt	$ 24,860

Earnings Per Share - Summary of Weighted-Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Earnings Per Share [Abstract]
Weighted-average number of shares - basic	14,179	15,959	14,145	16,802
Common stock equivalents		69		137
Weighted-average number of shares - diluted	14,179	16,028	14,145	16,939

Legal Proceedings and Other Matters - Additional Information (Details)		1 Months Ended		3 Months Ended			6 Months Ended
	Jul. 22, 2020 GBP (£)	Feb. 28, 2017 USD ($)	Jun. 30, 2016 USD ($)	Aug. 01, 2020 USD ($) Well	Feb. 01, 2020 USD ($)	Aug. 03, 2019 USD ($)	Aug. 01, 2020 USD ($) Well	Aug. 03, 2019 USD ($)	Apr. 30, 2015 USD ($)
Loss Contingencies [Line Items]
Number of water supply wells \| Well				2			2
Amount related to outstanding environmental contingencies				$ 1,500,000	$ 1,500,000	$ 1,700,000	$ 1,500,000	$ 1,700,000
Pretax accrual charges for environmental contingencies included in loss from discontinued operations				200,000		$ 300,000	200,000	$ 400,000
Schuh Limited
Loss Contingencies [Line Items]
Unpaid rent, service charges and insurance sought to recover \| £	£ 845,500
Court fees and interest \| £	£ 10,000
Internal Revenue Service (IRS)
Loss Contingencies [Line Items]
Estimated possible loss					$ 4,200,000
Village of Garden City, New York
Loss Contingencies [Line Items]
Future operation and maintenance costs							126,400
Amount awarded to other party			$ 10,000,000.0
Minimum
Loss Contingencies [Line Items]
Historical cost associated with enhanced treatment required by the impact of groundwater plume							1,800,000
Maximum
Loss Contingencies [Line Items]
Historical cost associated with enhanced treatment required by the impact of groundwater plume							2,500,000
Environmental Monitoring, Operation and Maintenance Activities \| Minimum
Loss Contingencies [Line Items]
Estimated possible loss				1,700,000			1,700,000
Environmental Monitoring, Operation and Maintenance Activities \| Maximum
Loss Contingencies [Line Items]
Estimated possible loss				2,000,000.0			2,000,000.0
EPA Interim Oversight Costs
Loss Contingencies [Line Items]
Estimated possible loss				$ 1,250,000			$ 1,250,000
Response Costs Claimed by the EPA
Loss Contingencies [Line Items]
Estimated possible loss									$ 2,200,000
Amount awarded to other party		$ 1,500,000
Estimated recovery percent from settlement		75.00%
Estimated recovery amount from a third party		$ 500,000

Business Segment Information - Schedule of Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Aug. 01, 2020	May 02, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019	Feb. 01, 2020
Segment Reporting Information [Line Items]
Sales	$ 391,574		$ 486,570	$ 671,194	$ 982,224
Intercompany sales	(357)		3	(745)	0
Net sales to external customers	391,217		486,573	670,449	982,224
Segment operating income (loss)	(20,261)		4,737	(89,159)	13,090
Goodwill impairment	0		0	79,259	0
Asset impairments and other	1,733		1,775	9,594	1,044
Operating income (loss)	(21,994)		2,962	(178,012)	12,046
Other components net periodic benefit income	(182)		(93)	(306)	(179)
Interest expense	1,965		835	3,014	1,683
Interest income	(47)		(488)	(240)	(1,502)
Earnings (loss) from continuing operations before income taxes	(23,730)		2,708	(180,480)	12,044
Total assets	1,770,028		1,755,527	1,770,028	1,755,527	$ 1,680,478
Depreciation and amortization	11,787		12,315	24,210	25,118
Capital expenditures	3,900		6,510	10,642	13,251
Journeys Group
Segment Reporting Information [Line Items]
Goodwill impairment				0
Schuh Group
Segment Reporting Information [Line Items]
Goodwill impairment		$ 79,300		79,259
Licensed Brands
Segment Reporting Information [Line Items]
Goodwill impairment				0
Operating Segments \| Journeys Group
Segment Reporting Information [Line Items]
Sales	276,631		315,175	445,556	639,147
Intercompany sales	0		0	0	0
Net sales to external customers	276,631		315,175	445,556	639,147
Segment operating income (loss)	10,160		11,329	(26,923)	30,305
Goodwill impairment				0
Asset impairments and other	0		0	0	0
Operating income (loss)	10,160		11,329	(26,923)	30,305
Other components net periodic benefit income	0		0	0	0
Interest expense	0		0	0	0
Interest income	0		0	0	0
Earnings (loss) from continuing operations before income taxes	10,160		11,329	(26,923)	30,305
Total assets	855,201		997,604	855,201	997,604
Depreciation and amortization	7,271		7,163	14,724	14,483
Capital expenditures	2,660		4,130	5,852	8,097
Operating Segments \| Schuh Group
Segment Reporting Information [Line Items]
Sales	71,732		92,476	118,897	169,320
Intercompany sales	0		0	0	0
Net sales to external customers	71,732		92,476	118,897	169,320
Segment operating income (loss)	(6,838)		39	(21,924)	(5,389)
Goodwill impairment				0
Asset impairments and other	0		0	0	0
Operating income (loss)	(6,838)		39	(21,924)	(5,389)
Other components net periodic benefit income	0		0	0	0
Interest expense	0		0	0	0
Interest income	0		0	0	0
Earnings (loss) from continuing operations before income taxes	(6,838)		39	(21,924)	(5,389)
Total assets	249,666		357,537	249,666	357,537
Depreciation and amortization	2,318		2,897	4,957	5,996
Capital expenditures	145		1,094	1,838	2,767
Operating Segments \| Johnston & Murphy Group
Segment Reporting Information [Line Items]
Sales	24,097		67,267	62,946	142,001
Intercompany sales	0		0	0	0
Net sales to external customers	24,097		67,267	62,946	142,001
Segment operating income (loss)	(18,243)		1,518	(27,827)	6,624
Goodwill impairment				0
Asset impairments and other	0		0	0	0
Operating income (loss)	(18,243)		1,518	(27,827)	6,624
Other components net periodic benefit income	0		0	0	0
Interest expense	0		0	0	0
Interest income	0		0	0	0
Earnings (loss) from continuing operations before income taxes	(18,243)		1,518	(27,827)	6,624
Total assets	185,375		217,499	185,375	217,499
Depreciation and amortization	1,452		1,498	2,928	3,124
Capital expenditures	891		958	2,568	1,820
Operating Segments \| Licensed Brands
Segment Reporting Information [Line Items]
Sales	19,114		11,580	43,795	31,666
Intercompany sales	(357)		3	(745)	0
Net sales to external customers	18,757		11,583	43,050	31,666
Segment operating income (loss)	(1,222)		(251)	(3,723)	178
Goodwill impairment				0
Asset impairments and other	0		0	0	0
Operating income (loss)	(1,222)		(251)	(3,723)	178
Other components net periodic benefit income	0		0	0	0
Interest expense	0		0	0	0
Interest income	0		0	0	0
Earnings (loss) from continuing operations before income taxes	(1,222)		(251)	(3,723)	178
Total assets	84,730		18,768	84,730	18,768
Depreciation and amortization	356		117	823	265
Capital expenditures	103		188	75	250
Corporate & Other
Segment Reporting Information [Line Items]
Sales	0		72	0	90
Intercompany sales	0		0	0	0
Net sales to external customers	0		72	0	90
Segment operating income (loss)	(4,118)		(7,898)	(8,762)	(18,628)
Goodwill impairment				79,259
Asset impairments and other	1,733		1,775	9,594	1,044
Operating income (loss)	(5,851)		(9,673)	(97,615)	(19,672)
Other components net periodic benefit income	(182)		(93)	(306)	(179)
Interest expense	1,965		835	3,014	1,683
Interest income	(47)		(488)	(240)	(1,502)
Earnings (loss) from continuing operations before income taxes	(7,587)		(9,927)	(100,083)	(19,674)
Total assets	395,056		164,119	395,056	164,119
Depreciation and amortization	390		640	778	1,250
Capital expenditures	$ 101		$ 140	$ 309	$ 317

Business Segment Information - Schedule of Business Segment Information (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Aug. 01, 2020	May 02, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019	Feb. 01, 2020
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ 1,733		$ 1,775	$ 9,594	$ 1,044
Long-lived assets	890,800		1,020,000	890,800	1,020,000
Goodwill	37,931		87,126	37,931	87,126	$ 122,184
Goodwill, increase (decrease) due to foreign currency translation adjustments				(4,939)
Goodwill impairment	0		0	79,259	0
Trademarks
Segment Reporting Information [Line Items]
Asset impairments and other, net				5,300
United Kingdom
Segment Reporting Information [Line Items]
Long-lived assets	151,300		172,200	151,300	172,200
Canada
Segment Reporting Information [Line Items]
Long-lived assets	39,800		53,000	39,800	53,000
Schuh Group
Segment Reporting Information [Line Items]
Goodwill	0		77,400	0	77,400	84,069
Goodwill, increase (decrease) due to foreign currency translation adjustments			(5,900)	(4,810)
Goodwill impairment		$ 79,300		79,259
Journeys Group
Segment Reporting Information [Line Items]
Goodwill	9,601		9,800	9,601	9,800	$ 9,730
Goodwill, increase (decrease) due to foreign currency translation adjustments			(100)	(129)
Goodwill impairment				0
Journeys Group \| Trademarks
Segment Reporting Information [Line Items]
Asset impairments and other, net				4,900
Johnston & Murphy Group \| Trademarks
Segment Reporting Information [Line Items]
Asset impairments and other, net				400
Retail Store Asset Impairments
Segment Reporting Information [Line Items]
Asset impairments and other, net	1,700		700	4,800	1,000
Retail Store Asset Impairments \| Schuh Group
Segment Reporting Information [Line Items]
Asset impairments and other, net	400		600	1,600	900
Retail Store Asset Impairments \| Journeys Group
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ 1,300		100	2,000	$ 100
Retail Store Asset Impairments \| Johnston & Murphy Group
Segment Reporting Information [Line Items]
Asset impairments and other, net				$ 1,200
Lease Termination Expense
Segment Reporting Information [Line Items]
Asset impairments and other, net			$ 1,000

Discontinued Operations - Additional Information (Details) - Lids Sports Group - Discontinued Operations, Disposed of by Sale $ in Millions	6 Months Ended
	Aug. 01, 2020 USD ($) store
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of leases for which the company is a guarantor \| store	34
Estimated maximum future payments \| $	$ 17.9