Business Segment Information

12 Months Ended

Feb. 01, 2025

Segment Reporting [Abstract]

Business Segment Information

Note 16

Business Segment Information

The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Our reportable segments are based on management's organization of the segments in order to make operating decisions and assess performance along types of products sold. Journeys Group and Schuh Group sell primarily branded products from other companies while Johnston & Murphy Group and Genesco Brands Group sell primarily our owned and licensed brands. Our chief operating decision maker ("CODM") is our President and Chief Executive Officer. The CODM assesses performance of and allocates resources to each business segment based on segment results without allocating corporate expenses. These corporate expenses include corporate overhead, bank fees, interest expense, interest income, goodwill impairment, asset impairment charges and other, including severance, insurance gains, a gain on the termination of the pension plan, major litigation and major lease terminations. Reconciling items between segment operating income (loss) and earnings (loss) from continuing operations consist of unallocated corporate expenses. The CODM uses segment operating income (loss) as a measure of profit or loss.

The measure of segment assets is reported on our Consolidated Balance Sheets as total assets. Corporate assets include cash, domestic prepaid rent expense, prepaid income taxes, deferred income taxes, deferred note expense on revolver debt, corporate fixed assets, corporate operating lease right of use assets and miscellaneous investments.

Note 16

Business Segment Information, Continued

Fiscal 2025
(In thousands)	Journeys Group		Schuh Group		Johnston & Murphy Group		Genesco Brands Group		Corporate & Other			Consolidated
Sales	$	1,398,922	$	479,891	$	320,208	$	124,131	$	—		$	2,323,152
Intercompany sales(1)		—		—		—		1,910		—			1,910
Net sales to external customers(2)		1,398,922		479,891		320,208		126,041		—			2,325,062
Cost of sales		715,723		280,395		148,461		83,670		—			1,228,249
Gross margin		683,199		199,496		171,747		42,371		—			1,096,813
Selling and administrative expenses		656,854		189,297		163,331		35,565		34,606			1,079,653
Segment operating income (loss)		26,345		10,199		8,416		6,806		(34,606	)		17,160
Asset impairments and other(3)		—		—		—		—		3,235			3,235
Operating income (loss)		26,345		10,199		8,416		6,806		(37,841	)		13,925
Other components of net periodic benefit cost		—		—		—		—		367			367
Interest expense, net		—		—		—		—		4,250			4,250
Earnings (loss) from continuing operations before income taxes	$	26,345	$	10,199	$	8,416	$	6,806	$	(42,458	)	$	9,308
Total assets at fiscal year end(4)	$	673,560	$	189,103	$	183,118	$	77,154	$	212,601		$	1,335,536
Depreciation and amortization		33,785		7,545		5,678		1,313		4,143			52,464
Capital expenditures		20,478		9,223		9,555		785		1,091			41,132

(1) Intercompany sales for Fiscal 2025 reflect net intercompany returns.

(2) Net sales in North America and in the United Kingdom, which includes the Republic of Ireland, accounted for 79% and 21%, respectively, of our net sales for Fiscal 2025.

(3) Asset impairments and other includes $1.8 million for severance and a $1.4 million charge for asset impairments, of which $0.8 million is in Journeys Group and $0.6 million is in Schuh Group.

(4) Of our $666.3 million of long-lived assets, $90.3 million and $9.3 million relate to long-lived assets in the U.K. and Canada, respectively.

Note 16

Business Segment Information, Continued

Fiscal 2024
(In thousands)	Journeys Group		Schuh Group		Johnston & Murphy Group			Genesco Brands Group			Corporate & Other			Consolidated
Sales	$	1,363,835	$	480,164	$	339,460		$	145,224		$	—		$	2,328,683
Intercompany sales		—		—		(14	)		(4,045	)		—			(4,059	)
Net sales to external customers(1)		1,363,835		480,164		339,446			141,179			—			2,324,624
Cost of sales		696,351		273,588		160,461			95,404			—			1,225,804
Gross margin		667,484		206,576		178,985			45,775			—			1,098,820
Selling and administrative expenses		656,412		185,141		162,671			45,783			32,033			1,082,040
Segment operating income (loss)		11,072		21,435		16,314			(8	)		(32,033	)		16,780
Goodwill impairment (2)		—		—		—			—			28,453			28,453
Asset impairments and other(3)		—		—		—			—			1,787			1,787
Operating income (loss)		11,072		21,435		16,314			(8	)		(62,273	)		(13,460	)
Other components of net periodic benefit cost		—		—		—			—			537			537
Interest expense, net		—		—		—			—			7,777			7,777
Earnings (loss) from continuing operations before income taxes	$	11,072	$	21,435	$	16,314		$	(8	)	$	(70,587	)	$	(21,774	)
Total assets at fiscal year end(4)	$	659,150	$	200,482	$	165,217		$	59,630		$	245,411		$	1,329,890
Depreciation and amortization		32,419		6,636		5,113			984			4,289			49,441
Capital expenditures		38,093		12,183		6,785			2,214			1,028			60,303

(1)Net sales in North America and in the United Kingdom, which includes the Republic of Ireland, accounted for 79% and 21%, respectively, of our net sales for Fiscal 2024.

(2)Goodwill impairment of $28.5 million is related to Genesco Brands Group.

(3)Asset impairments and other includes $1.1 million for severance and $1.0 million charge for asset impairments in the Journeys Group, partially offset by a $0.3 million insurance gain.

(4) Of our $677.2 million of long-lived assets, $89.4 million and $12.3 million relate to long-lived assets in the U.K. and Canada, respectively.

Note 16

Business Segment Information, Continued

Fiscal 2023
(In thousands)	Journeys Group		Schuh Group		Johnston & Murphy Group		Genesco Brands Group			Corporate & Other			Consolidated
Sales	$	1,482,203	$	432,002	$	314,759	$	158,684		$	—		$	2,387,648
Intercompany sales		—		—		—		(2,760	)		—			(2,760	)
Net sales to external customers(1)		1,482,203		432,002		314,759		155,924			—			2,384,888
Cost of sales		735,969		252,192		150,417		110,120			—			1,248,698
Gross margin		746,234		179,810		164,342		45,804			—			1,136,190
Selling and administrative expenses		651,830		162,209		149,978		46,482			31,595			1,042,094
Segment operating income (loss)		94,404		17,601		14,364		(678	)		(31,595	)		94,096
Asset impairments and other(2)		—		—		—		—			855			855
Operating income (loss)		94,404		17,601		14,364		(678	)		(32,450	)		93,241
Other components of net periodic benefit cost		—		—		—		—			248			248
Interest expense, net		—		—		—		—			2,920			2,920
Earnings (loss) from continuing operations before income taxes	$	94,404	$	17,601	$	14,364	$	(678	)	$	(35,618	)	$	90,073
Total assets at fiscal year end(3)	$	732,124	$	198,813	$	194,417	$	74,526		$	256,546		$	1,456,426
Depreciation and amortization		28,107		6,134		4,352		898			3,327			42,818
Capital expenditures		27,237		10,330		8,154		1,429			12,784			59,934

(1)Net sales in North America and in the United Kingdom, which includes the Republic of Ireland, accounted for 82% and 18%, respectively, of our net sales for Fiscal 2023.

(2)Asset impairments and other includes a $1.6 million charge for asset impairments, of which $0.8 million is in the Journeys Group, $0.5 million is in the Johnston & Murphy Group, $0.2 million is in the Schuh Group and $0.1 million is in the Genesco Brands Group, partially offset by a $0.7 million gain on the termination of the pension plan.

(3)Of our $704.7 million of long-lived assets, $93.3 million and $18.8 million relate to long-lived assets in the U.K. and Canada, respectively.