0000950170-22-011360 | 10-Q | XBRL Viewer

Print Document View Excel Document

Cover Page - shares	3 Months Ended
Cover Page - shares	Apr. 30, 2022	May 27, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2022
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	535 Marriott Drive
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37214
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		13,728,784
Entity Central Index Key	0000018498
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--01-28
Former Address [Member]
Entity Information [Line Items]
Entity Address, Address Line One	1415 Murfreesboro Pike
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37217-2895

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Current Assets:
Cash and cash equivalents	$ 200,623	$ 320,525	$ 258,044
Accounts receivable, net of allowances of $5,074 at April 30, 2022, $4,656 at January 29, 2022 and $4,474 at May 1, 2021	48,868	39,509	45,891
Inventories	401,479	278,200	301,017
Prepaids and other current assets	74,609	71,564	117,467
Total current assets	725,579	709,798	722,419
Property and equipment, net	219,421	216,308	208,759
Operating lease right of use assets	508,986	543,789	639,575
Goodwill	38,487	38,556	38,944
Other intangibles	28,298	29,855	31,112
Deferred income taxes	4,269	1,466	0
Other noncurrent assets	23,402	22,327	21,558
Total Assets	1,548,442	1,562,099	1,662,367
Current Liabilities:
Accounts payable	243,224	152,484	164,975
Current portion - operating lease liabilities	137,770	145,088	158,295
Other accrued liabilities	83,882	134,156	112,648
Total current liabilities	464,876	431,728	435,918
Long-term debt	14,712	15,679	44,169
Long-term operating lease liabilities	430,606	471,878	555,204
Other long-term liabilities	37,910	40,346	48,068
Total liabilities	948,104	959,631	1,083,359
Commitments and contingent liabilities
Equity
Non-redeemable preferred stock	818	827	828
Common equity:
Common stock, $1 par value: Authorized; 80,000,000 shares Issued common stock	14,217	14,256	15,444
Additional paid-in capital	294,628	291,444	284,396
Retained earnings	348,757	350,206	329,798
Accumulated other comprehensive loss	(40,225)	(36,408)	(33,601)
Treasury shares, at cost (488,464 shares)	(17,857)	(17,857)	(17,857)
Total equity	600,338	602,468	579,008
Total Liabilities and Equity	$ 1,548,442	$ 1,562,099	$ 1,662,367

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Current Assets:
Allowances on accounts receivable	$ 5,074	$ 4,656	$ 4,474
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
	Apr. 30, 2022	May 01, 2021
Income Statement [Abstract]
Net sales	$ 520,748	$ 538,695
Cost of sales	269,304	281,033
Gross margin	251,444	257,662
Selling and administrative expenses	243,481	239,465
Asset impairments and other, net	(283)	2,670
Operating income	8,246	15,527
Other components of net periodic benefit cost (income)	98	(39)
Interest expense (net of interest income of $0.1 million for each of the three months ended Apr. 30, 2022 and May 1, 2021)	297	729
Earnings from continuing operations before income taxes	7,851	14,837
Income tax expense	2,882	5,943
Earnings from continuing operations	4,969	8,894
Loss from discontinued operations, net of tax	(22)	(16)
Net Earnings	$ 4,947	$ 8,878
Basic earnings per common share:
Continuing operations (in dollars per share)	$ 0.38	$ 0.62
Discontinued operations (in dollars per share)	0.00	0.00
Net earnings (in dollars per share)	0.38	0.62
Diluted earnings per common share:
Continuing operations (in dollars per share)	0.37	0.60
Discontinued operations (in dollars per share)	0.00	0.00
Net earnings (in dollars per share)	$ 0.37	$ 0.60
Weighted average shares outstanding:
Basic (in shares)	12,961	14,287
Diluted (in shares)	13,369	14,702

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Income Statement [Abstract]
Interest income	$ 0.1	$ 0.1

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 4,947	$ 8,878
Other comprehensive income (loss):
Postretirement liability adjustments, net of tax	50	(44)
Foreign currency translation adjustments	(3,867)	1,502
Total other comprehensive income (loss)	(3,817)	1,458
Comprehensive Income	$ 1,130	$ 10,336

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 4,947	$ 8,878
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	10,551	10,889
Deferred income taxes	(2,820)	(10,054)
Impairment of long-lived assets	413	414
Share-based compensation expense	3,239	1,912
Other	499	149
Changes in working capital and other assets and liabilities, net of acquisitions/dispositions:
Accounts receivable	(9,977)	(14,186)
Inventories	(126,674)	(9,031)
Prepaids and other current assets	(3,490)	12,719
Accounts payable	92,061	14,784
Other accrued liabilities	(44,194)	33,832
Other assets and liabilities	(16,622)	(6,120)
Net cash provided by (used in) operating activities	(92,067)	44,186
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(15,397)	(12,102)
Net cash used in investing activities	(15,397)	(12,102)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facility	2,609	15,736
Payments on revolving credit facility	(2,609)	(4,678)
Shares repurchased related to share repurchase plan	(11,280)	0
Change in overdraft balances	0	(533)
Other	(2)	(35)
Net cash provided by (used in) financing activities	(11,282)	10,490
Effect of foreign exchange rate fluctuations on cash	(1,156)	379
Net increase (decrease) in cash and cash equivalents	(119,902)	42,953
Cash and cash equivalents at beginning of period	320,525	215,091
Cash and cash equivalents at end of period	200,623	258,044
Supplemental information:
Interest paid	327	538
Income taxes paid	225	127
Cash paid for amounts included in measurement of operating lease liabilities	57,278	45,532
Operating lease assets obtained in exchange for new operating lease liabilities	$ 13,935	$ 54,247

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
Beginning balance at Jan. 30, 2021	$ 566,759	$ 1,009	$ 15,438	$ 282,308	$ 320,920	$ (35,059)	$ (17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	8,878				8,878
Other comprehensive income (loss)	1,458					1,458
Share-based compensation expense	1,912			1,912
Other	1	(181)	6	176
Ending balance at May. 01, 2021	579,008	828	15,444	284,396	329,798	(33,601)	(17,857)
Beginning balance at Jan. 29, 2022	602,468	827	14,256	291,444	350,206	(36,408)	(17,857)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	4,947				4,947
Other comprehensive income (loss)	(3,817)					(3,817)
Share-based compensation expense	3,239			3,239
Restricted stock issuance			78	(78)
Shares repurchased	(6,500)		(104)		(6,396)
Other	1	(9)	(13)	23
Ending balance at Apr. 30, 2022	$ 600,338	$ 818	$ 14,217	$ 294,628	$ 348,757	$ (40,225)	$ (17,857)

- Definition

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

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Summary of Significant Accounting Policies

3 Months Ended

Apr. 30, 2022

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, including normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending January 28, 2023 ("Fiscal 2023") and of the fiscal year ended January 29, 2022 ("Fiscal 2022"). 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. The Condensed Consolidated Financial Statements and the related Notes have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by U.S. Generally Accepted Accounting Principles (“GAAP”) for complete financial statements. The Condensed Consolidated Balance Sheet as of January 29, 2022 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 2022, which are contained in our Annual Report on Form 10-K as filed with the SEC on March 23, 2022.

Nature of Operations

Genesco Inc. and its subsidiaries (collectively the "Company", "Genesco," "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 (“U.K.”) and the Republic of Ireland (“ROI”); through catalogs and e-commerce websites including the following: journeys.com, journeyskidz.com, journeys.ca, littleburgundyshoes.com, schuh.co.uk, schuh.ie, schuh.eu, johnstonmurphy.com, johnstonmurphy.ca, nashvillewarehouse.com and dockersshoes.com and at wholesale, primarily under our Johnston & Murphy brand, the licensed Levi's® brand, the licensed Dockers® brand, the licensed G.H. Bass® brand and other brands that we license for footwear. At April 30, 2022, we operated 1,414 retail stores in the U.S., Puerto Rico, Canada, the U.K. and the ROI.

During the three months ended April 30, 2022 and May 1, 2021, 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 G.H. Bass brands, as well as other brands we license for footwear.

Cash and Cash Equivalents

There were cash equivalents of $95.0 million as of April 30, 2022. There were no cash equivalents as of January 29, 2022 or May 1, 2021. Our $95.0 million of cash equivalents at April 30, 2022 were invested in institutional money market funds which invest exclusively in highly rated, short-term securities that are issued, guaranteed or collateralized by the U.S. government or by U.S. government agencies and instrumentalities. Due to their short-term nature, the carrying amounts reported in the Condensed Consolidated Balance Sheets approximate the fair value of cash and cash equivalents.

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 $2.7 million and $3.6 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively.

Retail occupancy costs recorded in selling and administrative expense were $78.5 million and $70.8 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively.

Advertising Costs

Advertising costs were $22.1 million and $21.1 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively.

Note 1

Summary of Significant Accounting Policies, Continued

Vendor Allowances

Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $3.2 million and $3.0 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively. During the first three months of each of Fiscal 2023 and Fiscal 2022, our cooperative advertising reimbursements received were not in excess of the costs incurred.

COVID-19 Pandemic

The COVID-19 pandemic has created significant public health concerns as well as economic disruption, uncertainty, and volatility which may negatively affect our business operations. As a result, if the pandemic persists or worsens, our accounting estimates and assumptions could be impacted in subsequent interim reports and upon final determination at year-end, and it is reasonably possible such changes could be significant.

New Accounting Pronouncements

We do not currently have any new accounting pronouncements pending adoption.

Goodwill and Other Intangible Assets

3 Months Ended

Apr. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 2

Goodwill and Other Intangible Assets

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


(In thousands)	Journeys Group			Licensed Brands Group			Total Goodwill
Balance, January 29, 2022	$	10,087		$	28,469		$	38,556
Effect of foreign currency exchange rates		(65	)		(4	)		(69	)
Balance, April 30, 2022	$	10,022		$	28,465		$	38,487

Other intangibles by major classes were as follows:


	Trademarks				Customer Lists						Other						Total
(In thousands)	Apr. 30, 2022		Jan. 29, 2022		Apr. 30, 2022			Jan. 29, 2022			Apr. 30, 2022			Jan. 29, 2022			Apr. 30, 2022			Jan. 29, 2022
Gross other intangibles	$	24,521	$	25,935	$	6,498		$	6,586		$	400		$	400		$	31,419		$	32,921
Accumulated amortization		—		—		(2,721	)		(2,666	)		(400	)		(400	)		(3,121	)		(3,066	)
Net Other Intangibles	$	24,521	$	25,935	$	3,777		$	3,920		$	—		$	—		$	28,298		$	29,855

Asset Impairments and Other Charges

3 Months Ended

Apr. 30, 2022

Asset Impairment Charges [Abstract]

Asset Impairments and Other Charges

Note 3

Asset Impairments and Other Charges

We recorded a pretax gain of $0.3 million in the first quarter of Fiscal 2023, including a gain of $0.7 million for the pension plan termination, partially offset by $0.4 million for retail store asset impairments.

We recorded pretax charges of $2.7 million in the first quarter of Fiscal 2022, including $2.3 million for professional fees related to actions of an activist shareholder and $0.4 for retail store asset impairments.

Inventories and Other Current Accrued Liabilities

3 Months Ended

Apr. 30, 2022

Inventory Disclosure [Abstract]

Inventories and Other Current Accrued Liabilities

Note 4

Inventories and Other Current Accrued Liabilities

Inventory


(In thousands)	April 30, 2022		January 29, 2022
Wholesale finished goods	$	40,078	$	28,432
Retail merchandise		361,401		249,768
Total Inventories	$	401,479	$	278,200

Other Current Accrued Liabilities


(In thousands)	April 30, 2022		January 29, 2022
Accrued employee compensation(1)	$	16,887	$	60,575
Accrued other taxes		14,918		17,631
Accrued income taxes		1,640		2,385
Provision for discontinued operations		486		491
Other accrued liabilities		49,951		53,074
Total Other Current Accrued Liabilities	$	83,882	$	134,156

(1) The accrual for performance-based incentive compensation of $48.1 million as of January 29, 2022 was paid in the first quarter of Fiscal 2023.

Fair Value

3 Months Ended

Apr. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value

Note 5

Fair Value

Fair Value of Financial Instruments

The carrying amounts and fair values of our financial instruments at April 30, 2022 and January 29, 2022 are as follows:


Fair Values
(In thousands)	April 30, 2022				January 29, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
U.S. Revolver Borrowings	$	14,712	$	14,679	$	15,679	$	15,679

Debt fair values were determined using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 within the fair value hierarchy.

As of April 30, 2022, we have $3.5 million of long-lived assets held and used which were measured using Level 3 inputs within the fair value hierarchy. As of April 30, 2022, we have $11.1 million of investments held and used which were measured using Level 1 inputs within the fair value hierarchy.

- 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

Earnings Per Share

3 Months Ended

Apr. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 6

Earnings Per Share

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


	Three Months Ended
(Shares in thousands)	April 30, 2022		May 1, 2021
Weighted-average number of shares - basic		12,961		14,287
Common stock equivalents		408		415
Weighted-average number of shares - diluted		13,369		14,702

We repurchased 102,895 shares during the first quarter of Fiscal 2023 at a cost of $6.5 million, or $63.17 per share. We accrued $4.8 million of share repurchases in the fourth quarter of Fiscal 2022 due to timing of the cash settlement and it is included on the Condensed Consolidated Statements of Cash Flows for the three months ended April 30, 2022. We have $100.3 million remaining as of April 30, 2022 under our expanded share repurchase authorization announced in February 2022. We did not repurchase any shares during the first quarter of Fiscal 2022. During the second quarter of Fiscal 2023, through June 8, 2022, we have repurchased 175,000 shares at a cost of $10.1 million, or $57.94 per share.

Long-Term Debt

3 Months Ended

Apr. 30, 2022

Debt Disclosure [Abstract]

Long-Term Debt

Note 7

Long-Term Debt


(In thousands)	April 30, 2022		January 29, 2022
U.S. revolver borrowings	$	14,712	$	15,679
Total long-term debt		14,712		15,679
Current portion		—		—
Total Noncurrent Portion of Long-Term Debt	$	14,712	$	15,679

We were in compliance with all the relevant terms and conditions of the Credit Facility and Facility Letter as of April 30, 2022.

Legal Proceedings

3 Months Ended

Apr. 30, 2022

Commitments And Contingencies Disclosure [Abstract]

Legal Proceedings

Note 8

Legal Proceedings

Environmental Matters

The Company has legacy obligations including environmental monitoring and reporting costs related to: (i) a 2016 Consent Judgment entered into with the United States Environmental Protection Agency involving the site of a knitting mill operated by a former subsidiary of ours from 1965 to 1969 in Garden City, New York; and (ii) a 2010 Consent Decree with the Michigan Department of Natural Resources and Environment relating to our former Volunteer Leather Company facility in Whitehall, Michigan. We do not expect that future obligations related to either of these sites will have a material effect on our financial condition or results of operations.

Accrual for Environmental Contingencies

Related to all outstanding environmental contingencies, we had accrued $1.4 million as of each of April 30, 2022, January 29, 2022 and May 1, 2021. 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 Condensed Consolidated Balance Sheets because they relate to former facilities operated by us. We have made pretax accruals for certain of these contingencies which were not material for the first three months of Fiscal 2023 or Fiscal 2022. These charges are included in loss from discontinued operations, net in the Condensed Consolidated Statements of Operations and represent changes in estimates.

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. 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.

Commitments

3 Months Ended

Apr. 30, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments

Note 9

Commitments

As part of our Licensed Brands business, we have a commitment to Samsung C&T America, Inc. (“Samsung”) related to the ultimate sale and valuation of inventories owned by Samsung. If product is sold below Samsung’s cost, we are required to pay to Samsung the difference between the sales price and its cost. At April 30, 2022, the inventory owned by Samsung had a historical cost of $16.7 million.

Business Segment Information

3 Months Ended

Apr. 30, 2022

Segment Reporting [Abstract]

Business Segment Information

Note 10

Business Segment Information


Three Months Ended April 30, 2022
(In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
Sales	$	314,445	$	88,159		$	71,016	$	47,900		$	—		$	521,520
Intercompany sales		—		—			—		(772	)		—			(772	)
Net sales to external customers	$	314,445	$	88,159		$	71,016	$	47,128		$	—		$	520,748
Segment operating income (loss)	$	14,930	$	(2,746	)	$	550	$	3,793		$	(8,564	)	$	7,963
Asset impairments and other (1)		—		—			—		—			283			283
Operating income (loss)		14,930		(2,746	)		550		3,793			(8,281	)		8,246
Other components of net periodic benefit cost		—		—			—		—			(98	)		(98	)
Interest expense, net		—		—			—		—			(297	)		(297	)
Earnings (loss) from continuing operations before income taxes	$	14,930	$	(2,746	)	$	550	$	3,793		$	(8,676	)	$	7,851
Total assets (2)	$	766,780	$	195,591		$	146,914	$	72,114		$	367,043		$	1,548,442
Depreciation and amortization		7,238		1,590			1,122		261			340			10,551
Capital expenditures		6,568		2,118			1,906		279			4,526			15,397

(1) Asset impairments and other includes a $0.3 million gain which includes a $0.7 million gain on the termination of the pension plan, partially offset by a $0.4 million charge for retail store asset impairments, which includes $0.2 million in Journeys Group and $0.2 million for Schuh Group.

(2) Of our $728.4 million of long-lived assets, $96.9 million and $23.4 million relate to long-lived assets in the U.K. and Canada, respectively.

Note 10

Business Segment Information, Continued


Three Months Ended May 1, 2021
(In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
Sales	$	376,548	$	68,711		$	48,762		$	44,832		$	—		$	538,853
Intercompany sales		—		—			—			(158	)		—			(158	)
Net sales to external customers	$	376,548	$	68,711		$	48,762		$	44,674		$	—		$	538,695
Segment operating income (loss)	$	33,124	$	(3,847	)	$	(3,180	)	$	2,561		$	(10,461	)	$	18,197
Asset impairments and other (1)		—		—			—			—			(2,670	)		(2,670	)
Operating income (loss)		33,124		(3,847	)		(3,180	)		2,561			(13,131	)		15,527
Other components of net periodic benefit income		—		—			—			—			39			39
Interest expense, net		—		—			—			—			(729	)		(729	)
Earnings (loss) from continuing operations before income taxes	$	33,124	$	(3,847	)	$	(3,180	)	$	2,561		$	(13,821	)	$	14,837
Total assets (2)	$	765,228	$	244,918		$	146,736		$	63,505		$	441,980		$	1,662,367
Depreciation and amortization		7,282		1,868			1,121			284			334			10,889
Capital expenditures		8,850		698			1,559			265			730			12,102

(1) Asset impairments and other includes a $2.3 million charge for professional fees related to the actions of an activist shareholder and a $0.4 million charge for retail store asset impairments, which includes $0.2 million in Journeys Group, $0.1 million in the Johnston & Murphy Group and $0.1 million in Schuh Group.

(2) Of our $848.3 million of long-lived assets, $135.4 million and $34.0 million relate to long-lived assets in the U.K. and Canada, respectively.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Apr. 30, 2022
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, including normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending January 28, 2023 ("Fiscal 2023") and of the fiscal year ended January 29, 2022 ("Fiscal 2022"). 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. The Condensed Consolidated Financial Statements and the related Notes have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by U.S. Generally Accepted Accounting Principles (“GAAP”) for complete financial statements. The Condensed Consolidated Balance Sheet as of January 29, 2022 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 2022, which are contained in our Annual Report on Form 10-K as filed with the SEC on March 23, 2022.
Nature of Operations	Nature of Operations Genesco Inc. and its subsidiaries (collectively the "Company", "Genesco," "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 (“U.K.”) and the Republic of Ireland (“ROI”); through catalogs and e-commerce websites including the following: journeys.com, journeyskidz.com, journeys.ca, littleburgundyshoes.com, schuh.co.uk, schuh.ie, schuh.eu, johnstonmurphy.com, johnstonmurphy.ca, nashvillewarehouse.com and dockersshoes.com and at wholesale, primarily under our Johnston & Murphy brand, the licensed Levi's® brand, the licensed Dockers® brand, the licensed G.H. Bass® brand and other brands that we license for footwear. At April 30, 2022, we operated 1,414 retail stores in the U.S., Puerto Rico, Canada, the U.K. and the ROI. During the three months ended April 30, 2022 and May 1, 2021, 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 G.H. Bass brands, as well as other brands we license for footwear.
Cash and Cash Equivalents	Cash and Cash Equivalents There were cash equivalents of $95.0 million as of April 30, 2022. There were no cash equivalents as of January 29, 2022 or May 1, 2021. Our $95.0 million of cash equivalents at April 30, 2022 were invested in institutional money market funds which invest exclusively in highly rated, short-term securities that are issued, guaranteed or collateralized by the U.S. government or by U.S. government agencies and instrumentalities. Due to their short-term nature, the carrying amounts reported in the Condensed Consolidated Balance Sheets approximate the fair value of cash and cash equivalents.
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 $2.7 million and $3.6 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively. Retail occupancy costs recorded in selling and administrative expense were $78.5 million and $70.8 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively.
Advertising Costs	Advertising Costs Advertising costs were $22.1 million and $21.1 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively.
Vendor Allowances	Vendor Allowances Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $3.2 million and $3.0 million for the first quarters of Fiscal 2023 and Fiscal 2022, respectively. During the first three months of each of Fiscal 2023 and Fiscal 2022, our cooperative advertising reimbursements received were not in excess of the costs incurred.
Covid-19 Pandemic	COVID-19 Pandemic The COVID-19 pandemic has created significant public health concerns as well as economic disruption, uncertainty, and volatility which may negatively affect our business operations. As a result, if the pandemic persists or worsens, our accounting estimates and assumptions could be impacted in subsequent interim reports and upon final determination at year-end, and it is reasonably possible such changes could be significant.
New Accounting Pronouncements	New Accounting Pronouncements We do not currently have any new accounting pronouncements pending adoption.

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Apr. 30, 2022

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)	Journeys Group			Licensed Brands Group			Total Goodwill
Balance, January 29, 2022	$	10,087		$	28,469		$	38,556
Effect of foreign currency exchange rates		(65	)		(4	)		(69	)
Balance, April 30, 2022	$	10,022		$	28,465		$	38,487

Summary of Other Intangible Assets

Other intangibles by major classes were as follows:


	Trademarks				Customer Lists						Other						Total
(In thousands)	Apr. 30, 2022		Jan. 29, 2022		Apr. 30, 2022			Jan. 29, 2022			Apr. 30, 2022			Jan. 29, 2022			Apr. 30, 2022			Jan. 29, 2022
Gross other intangibles	$	24,521	$	25,935	$	6,498		$	6,586		$	400		$	400		$	31,419		$	32,921
Accumulated amortization		—		—		(2,721	)		(2,666	)		(400	)		(400	)		(3,121	)		(3,066	)
Net Other Intangibles	$	24,521	$	25,935	$	3,777		$	3,920		$	—		$	—		$	28,298		$	29,855

Inventories and Other Current Accrued Liabilities (Tables)

3 Months Ended

Apr. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventory


(In thousands)	April 30, 2022		January 29, 2022
Wholesale finished goods	$	40,078	$	28,432
Retail merchandise		361,401		249,768
Total Inventories	$	401,479	$	278,200

Schedule of Other Current Accrued Liabilities

Other Current Accrued Liabilities


(In thousands)	April 30, 2022		January 29, 2022
Accrued employee compensation(1)	$	16,887	$	60,575
Accrued other taxes		14,918		17,631
Accrued income taxes		1,640		2,385
Provision for discontinued operations		486		491
Other accrued liabilities		49,951		53,074
Total Other Current Accrued Liabilities	$	83,882	$	134,156

(1) The accrual for performance-based incentive compensation of $48.1 million as of January 29, 2022 was paid in the first quarter of Fiscal 2023.

Fair Value (Tables)

3 Months Ended

Apr. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Financial Instruments

The carrying amounts and fair values of our financial instruments at April 30, 2022 and January 29, 2022 are as follows:


Fair Values
(In thousands)	April 30, 2022				January 29, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
U.S. Revolver Borrowings	$	14,712	$	14,679	$	15,679	$	15,679

Earnings Per Share (Tables)

3 Months Ended

Apr. 30, 2022

Earnings Per Share [Abstract]

Summary of Weighted-Average Number of Shares

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


	Three Months Ended
(Shares in thousands)	April 30, 2022		May 1, 2021
Weighted-average number of shares - basic		12,961		14,287
Common stock equivalents		408		415
Weighted-average number of shares - diluted		13,369		14,702

Long-Term Debt (Tables)

3 Months Ended

Apr. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-Term Debt


(In thousands)	April 30, 2022		January 29, 2022
U.S. revolver borrowings	$	14,712	$	15,679
Total long-term debt		14,712		15,679
Current portion		—		—
Total Noncurrent Portion of Long-Term Debt	$	14,712	$	15,679

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Business Segment Information (Tables)

3 Months Ended

Apr. 30, 2022

Segment Reporting [Abstract]

Schedule of Business Segment Information


Three Months Ended April 30, 2022
(In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
Sales	$	314,445	$	88,159		$	71,016	$	47,900		$	—		$	521,520
Intercompany sales		—		—			—		(772	)		—			(772	)
Net sales to external customers	$	314,445	$	88,159		$	71,016	$	47,128		$	—		$	520,748
Segment operating income (loss)	$	14,930	$	(2,746	)	$	550	$	3,793		$	(8,564	)	$	7,963
Asset impairments and other (1)		—		—			—		—			283			283
Operating income (loss)		14,930		(2,746	)		550		3,793			(8,281	)		8,246
Other components of net periodic benefit cost		—		—			—		—			(98	)		(98	)
Interest expense, net		—		—			—		—			(297	)		(297	)
Earnings (loss) from continuing operations before income taxes	$	14,930	$	(2,746	)	$	550	$	3,793		$	(8,676	)	$	7,851
Total assets (2)	$	766,780	$	195,591		$	146,914	$	72,114		$	367,043		$	1,548,442
Depreciation and amortization		7,238		1,590			1,122		261			340			10,551
Capital expenditures		6,568		2,118			1,906		279			4,526			15,397

(2) Of our $728.4 million of long-lived assets, $96.9 million and $23.4 million relate to long-lived assets in the U.K. and Canada, respectively.

Note 10

Business Segment Information, Continued


Three Months Ended May 1, 2021
(In thousands)	Journeys Group		Schuh Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
Sales	$	376,548	$	68,711		$	48,762		$	44,832		$	—		$	538,853
Intercompany sales		—		—			—			(158	)		—			(158	)
Net sales to external customers	$	376,548	$	68,711		$	48,762		$	44,674		$	—		$	538,695
Segment operating income (loss)	$	33,124	$	(3,847	)	$	(3,180	)	$	2,561		$	(10,461	)	$	18,197
Asset impairments and other (1)		—		—			—			—			(2,670	)		(2,670	)
Operating income (loss)		33,124		(3,847	)		(3,180	)		2,561			(13,131	)		15,527
Other components of net periodic benefit income		—		—			—			—			39			39
Interest expense, net		—		—			—			—			(729	)		(729	)
Earnings (loss) from continuing operations before income taxes	$	33,124	$	(3,847	)	$	(3,180	)	$	2,561		$	(13,821	)	$	14,837
Total assets (2)	$	765,228	$	244,918		$	146,736		$	63,505		$	441,980		$	1,662,367
Depreciation and amortization		7,282		1,868			1,121			284			334			10,889
Capital expenditures		8,850		698			1,559			265			730			12,102

(2) Of our $848.3 million of long-lived assets, $135.4 million and $34.0 million relate to long-lived assets in the U.K. and Canada, respectively.

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2022 USD ($) Store Segment	May 01, 2021 USD ($) Segment	Jan. 29, 2022 USD ($)
Summary of Accounting Policies [Line Items]
Number of retail stores operated by company \| Store	1,414
Number of reportable business segments \| Segment	4	4
Cash and cash equivalents	$ 95,000	$ 0	$ 0
Selling and administrative expenses	243,481	239,465
Advertising costs	22,100	21,100
Vendor reimbursements of cooperative advertising costs	3,200	3,000
Wholesale Costs of Distribution
Summary of Accounting Policies [Line Items]
Selling and administrative expenses	2,700	3,600
Retail Occupancy Costs
Summary of Accounting Policies [Line Items]
Selling and administrative expenses	$ 78,500	$ 70,800

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Segment (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 38,556
Effect of foreign currency exchange rates	(69)
Goodwill, ending balance	38,487
Journeys Group
Goodwill [Roll Forward]
Goodwill, beginning balance	10,087
Effect of foreign currency exchange rates	(65)
Goodwill, ending balance	10,022
Licensed Brands Group
Goodwill [Roll Forward]
Goodwill, beginning balance	28,469
Effect of foreign currency exchange rates	(4)
Goodwill, ending balance	$ 28,465

Goodwill and Other Intangible Assets - Summary of Other Intangibles Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Other intangibles by major classes
Gross other intangibles	$ 31,419	$ 32,921
Accumulated amortization	(3,121)	(3,066)
Net Other Intangibles	28,298	29,855	$ 31,112
Trademarks
Other intangibles by major classes
Gross other intangibles	24,521	25,935
Accumulated amortization	0	0
Net Other Intangibles	24,521	25,935
Customer Lists
Other intangibles by major classes
Gross other intangibles	6,498	6,586
Accumulated amortization	(2,721)	(2,666)
Net Other Intangibles	3,777	3,920
Other
Other intangibles by major classes
Gross other intangibles	400	400
Accumulated amortization	(400)	(400)
Net Other Intangibles	$ 0	$ 0

Asset Impairments and Other Charges - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net	$ (283)	$ 2,670
Professional Fees Related to Actions of Activist Shareholder
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net		2,300
Retail Store Asset Impairments
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net	400	$ 400
Gain on the Termination of the Pension Plan
Restructuring Cost And Reserve [Line Items]
Asset impairments and other, net	$ 700

Inventories and Other Current Accrued Liabilities - Schedule of Inventories (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Inventories
Wholesale finished goods	$ 40,078	$ 28,432
Retail merchandise	361,401	249,768
Total Inventories	$ 401,479	$ 278,200	$ 301,017

Inventories and Other Current Accrued Liabilities - Schedule of Other Current Accrued Liabilities (Details) - USD ($)
$ in Thousands

Apr. 30, 2022

Jan. 29, 2022

May 01, 2021

Accrued Liabilities, Current [Abstract]

Accrued employee compensation

^[1]

$ 16,887

$ 60,575

Accrued other taxes

14,918

17,631

Accrued income taxes

1,640

2,385

Provision for discontinued operations

486

491

Other accrued liabilities

49,951

53,074

Total Other Current Accrued Liabilities

$ 83,882

$ 134,156

$ 112,648

[1]	The accrual for performance-based incentive compensation of $48.1 million as of January 29, 2022 was paid in the first quarter of Fiscal 2023.

Inventories and Other Current Accrued Liabilities - Schedule of Other Current Accrued Liabilities (Parenthetical) (Details) $ in Millions	Jan. 29, 2022 USD ($)
Accrued Liabilities, Current [Abstract]
Accrued performance-based incentive compensation	$ 48.1

Fair Value - Schedule of Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 14,712	$ 15,679
U.S. Revolver Borrowings
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	14,712	15,679
U.S. Revolver Borrowings \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	14,712	15,679
Fair Value	$ 14,679	$ 15,679

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Fair Value - Additional Information (Details) $ in Millions	Apr. 30, 2022 USD ($)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	$ 3.5
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments held	$ 11.1

Earnings Per Share - Summary of Weighted-Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Earnings Per Share [Abstract]
Weighted-average number of shares - basic (in shares)	12,961	14,287
Common stock equivalents (in shares)	408	415
Weighted-average number of shares - diluted (in shares)	13,369	14,702

Earnings Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 08, 2022	Apr. 30, 2023	Apr. 30, 2022	Jan. 29, 2022
Earnings Per Share [Abstract]
Stock repurchased during period (in shares)	175,000	102,895	0
Shares repurchased	$ 10,100	$ 6,500	$ 6,500
Share price	$ 57.94	$ 63.17
Stock repurchase accrued amount				$ 4,800
Remaining authorized repurchase amount			$ 100,300

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 14,712	$ 15,679
Current portion	0	0
Total Noncurrent Portion of Long-Term Debt	14,712	15,679	$ 44,169
U.S. Revolver Borrowings
Debt Instrument [Line Items]
Total long-term debt	$ 14,712	$ 15,679

- Definition

+ References + Details

Legal Proceedings - Additional Information (Details) - USD ($) $ in Millions	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Loss Contingencies [Line Items]
Amount related to outstanding environmental contingencies	$ 1.4	$ 1.4	$ 1.4

Commitments - Additional Information (Details) $ in Millions	Apr. 30, 2022 USD ($)
Samsung
Loss Contingencies [Line Items]
Historical cost of inventory	$ 16.7

Business Segment Information - Schedule of Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021	Jan. 29, 2022
Segment Reporting Information [Line Items]
Net sales	$ 520,748	$ 538,695
Segment operating income (loss)	7,963	18,197
Asset impairments and other	283	(2,670)
Operating income	8,246	15,527
Other components of net periodic benefit income cost	(98)	39
Interest expense, net	(297)	(729)
Earnings from continuing operations before income taxes	7,851	14,837
Total assets	1,548,442	1,662,367	$ 1,562,099
Depreciation and amortization	10,551	10,889
Capital expenditures	15,397	12,102
Journeys Group
Segment Reporting Information [Line Items]
Net sales	314,445	376,548
Schuh Group
Segment Reporting Information [Line Items]
Net sales	88,159	68,711
Johnston & Murphy Group
Segment Reporting Information [Line Items]
Net sales	71,016	48,762
Licensed Brands Group
Segment Reporting Information [Line Items]
Net sales	47,128	44,674
Operating Segments
Segment Reporting Information [Line Items]
Net sales	521,520	538,853
Operating Segments \| Journeys Group
Segment Reporting Information [Line Items]
Net sales	314,445	376,548
Segment operating income (loss)	14,930	33,124
Asset impairments and other	0	0
Operating income	14,930	33,124
Other components of net periodic benefit income cost	0	0
Interest expense, net	0	0
Earnings from continuing operations before income taxes	14,930	33,124
Total assets	766,780	765,228
Depreciation and amortization	7,238	7,282
Capital expenditures	6,568	8,850
Operating Segments \| Schuh Group
Segment Reporting Information [Line Items]
Net sales	88,159	68,711
Segment operating income (loss)	(2,746)	(3,847)
Asset impairments and other	0	0
Operating income	(2,746)	(3,847)
Other components of net periodic benefit income cost	0	0
Interest expense, net	0	0
Earnings from continuing operations before income taxes	(2,746)	(3,847)
Total assets	195,591	244,918
Depreciation and amortization	1,590	1,868
Capital expenditures	2,118	698
Operating Segments \| Johnston & Murphy Group
Segment Reporting Information [Line Items]
Net sales	71,016	48,762
Segment operating income (loss)	550	(3,180)
Asset impairments and other	0	0
Operating income	550	(3,180)
Other components of net periodic benefit income cost	0	0
Interest expense, net	0	0
Earnings from continuing operations before income taxes	550	(3,180)
Total assets	146,914	146,736
Depreciation and amortization	1,122	1,121
Capital expenditures	1,906	1,559
Operating Segments \| Licensed Brands Group
Segment Reporting Information [Line Items]
Net sales	47,900	44,832
Segment operating income (loss)	3,793	2,561
Asset impairments and other	0	0
Operating income	3,793	2,561
Other components of net periodic benefit income cost	0	0
Interest expense, net	0	0
Earnings from continuing operations before income taxes	3,793	2,561
Total assets	72,114	63,505
Depreciation and amortization	261	284
Capital expenditures	279	265
Corporate & Other
Segment Reporting Information [Line Items]
Net sales	0	0
Segment operating income (loss)	(8,564)	(10,461)
Asset impairments and other	283	(2,670)
Operating income	(8,281)	(13,131)
Other components of net periodic benefit income cost	(98)	39
Interest expense, net	(297)	(729)
Earnings from continuing operations before income taxes	(8,676)	(13,821)
Total assets	367,043	441,980
Depreciation and amortization	340	334
Capital expenditures	4,526	730
Intercompany Sales
Segment Reporting Information [Line Items]
Net sales	(772)	(158)
Intercompany Sales \| Journeys Group
Segment Reporting Information [Line Items]
Net sales	0	0
Intercompany Sales \| Schuh Group
Segment Reporting Information [Line Items]
Net sales	0	0
Intercompany Sales \| Johnston & Murphy Group
Segment Reporting Information [Line Items]
Net sales	0	0
Intercompany Sales \| Licensed Brands Group
Segment Reporting Information [Line Items]
Net sales	$ (772)	$ (158)

Business Segment Information - Schedule of Business Segment Information (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ (283)	$ 2,670
Long-lived assets	728,400	848,300
U.K.
Segment Reporting Information [Line Items]
Long-lived assets	96,900	135,400
Canada
Segment Reporting Information [Line Items]
Long-lived assets	23,400	34,000
Professional Fees Related to Actions of Activist Shareholder
Segment Reporting Information [Line Items]
Asset impairments and other, net		2,300
Retail Store Asset Impairments
Segment Reporting Information [Line Items]
Asset impairments and other, net	400	400
Retail Store Asset Impairments \| Journeys Group
Segment Reporting Information [Line Items]
Asset impairments and other, net	200	200
Retail Store Asset Impairments \| Schuh Group
Segment Reporting Information [Line Items]
Asset impairments and other, net	200	100
Retail Store Asset Impairments \| Johnston & Murphy Group
Segment Reporting Information [Line Items]
Asset impairments and other, net		$ 100
Gain on the Termination of the Pension Plan
Segment Reporting Information [Line Items]
Asset impairments and other, net	$ 700