8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (date of earliest event reported): December 3, 2021

GENESCO INC.

(Exact name of registrant as specified in its charter)

Tennessee	1-3083		62-0211340
(State or Other Jurisdiction of Incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
1415 Murfreesboro Pike	Nashville	Tennessee	37217-2895
(Address of Principal Executive Offices)			(Zip Code)

(615) 367-7000

Registrant's telephone number, including area code

Not Applicable

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

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

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

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

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

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

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

Title of each class	Trading Symbol(s)	Name of exchange on which registered
Common Stock, $1.00 par value	GCO	New York Stock Exchange

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

Emerging growth company ☐

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

☐

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On December 3, 2021, Genesco Inc. issued a press release announcing results of operations for the fiscal third quarter ended October 30, 2021. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

On December 3, 2021, the Company also posted on its website, www.genesco.com, a slide presentation with summary results.  A copy of the slide presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), the press release furnished herewith contains non-GAAP financial measures, including adjusted selling and administrative expense, operating income, pretax earnings, earnings from continuing operations and earnings per share from continuing operations, as discussed in the text of the release and as detailed on the reconciliation schedule attached to the press release. For consistency and ease of comparison with the adjusted results for the prior period announced last year, the Company believes that disclosure of the non-GAAP measures will be useful to investors.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(d)       Exhibits

The following exhibits are furnished herewith:

Exhibit Number	Description
99.1	Press Release Issued by Genesco Inc. on December 3, 2021
99.2	Genesco Inc. Third Fiscal Quarter Ended October 30, 2021 Summary Results
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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

	GENESCO INC.
Date: December 3, 2021	By:	/s/ Thomas A. George
	Name:	Thomas A. George
	Title:	Senior Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

GENESCO INC. REPORTS FISCAL 2022 THIRD QUARTER RESULTS

--Record Third Quarter EPS, Exceeding Expectations--

--Strong Back-to-School Season in U.S. and U.K.--

--Revenue and Earnings Continue to Exceed Pre-Pandemic Levels--

Third Quarter Fiscal 2022 Financial Summary

• Net sales increased 25% from last year to $601 million

• Net sales increased 12% over the third quarter two years ago

• GAAP and Non-GAAP operating income both increased 69% over third quarter two years ago

• Same store sales increased 25% over last year, store sales above pre-pandemic levels

• E-commerce sales increased 79% from third quarter two years ago

• Returned capital to shareholders with the repurchase of $31 million in stock

• GAAP EPS from continuing operations increased to $2.26 vs. $0.52 last year and $1.31 two years ago

• Non-GAAP EPS from continuing operations increased to $2.361 vs. $0.85 last year and $1.33 two years ago

NASHVILLE, Tenn., Dec. 3, 2021--- Genesco Inc. (NYSE: GCO) today reported GAAP earnings from continuing operations per diluted share of $2.26 for the three months ended October 30, 2021, compared to $0.52 in the third quarter last year and $1.31 per diluted share two years ago.  Adjusted for the Excluded Items in all periods, the Company reported third quarter earnings from continuing operations per diluted share of $2.36, compared to $0.85 last year and $1.33 per diluted share two years ago.

Mimi E. Vaughn, Genesco board chair, president and chief executive officer, said, “Building off a very strong first half of Fiscal 2022, our excellent results this quarter were fueled by an outstanding back-to-school season in the United States and United Kingdom, reinforcing Journeys’ and Schuh’s positions as the leading destinations for teen and youth fashion footwear. We were especially pleased with the performance of our stores, as sales in our current fleet were up for the first time since prior to the pandemic. The improvement in traffic trends bolsters our view that teens like to shop in person, making our stores strategic assets that work in tandem with our digital capabilities, serving our customers whenever and wherever they choose to engage with our brands. Turning to the current quarter, we have been very pleased with our results to date, as sales tracked nicely ahead of pre-pandemic levels in November, and we are now into the all-important holiday selling season.  Given the recovery and confidence we have in our business, we are returning to giving guidance.  We expect adjusted earnings for Fiscal 2022 to be between $6.40 and $6.90 per share with an expectation that earnings will be near the mid-point of the range, an increase of 45% over pre-pandemic Fiscal 2020.

_____________________

1Excludes retail store asset impairments, professional fees related to the actions of a shareholder activist and expenses related to the Company’s new headquarters building, net of tax effect in the third quarter of Fiscal 2022 (“Excluded Items”). A reconciliation of earnings/loss and earnings/loss per share from continuing operations in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) with the adjusted earnings/loss and earnings/loss per share numbers is set forth on Schedule B to this press release. The Company believes that disclosure of earnings/loss and earnings/loss per share from continuing operations adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.

“We entered the pandemic in a position of strength, are navigating the pandemic well, and believe we will enter the post pandemic phase even stronger.  Our exceptional year-to-date results highlight the great execution by our teams, our strong vendor relationships, close consumer connections, and the strategic advantages enabled through our footwear focused strategy. Our opportunity to unlock value in Genesco is to further accelerate the digital and omnichannel growth in our retail business and to meaningfully grow our branded side.”

Thomas A. George, Genesco chief financial officer, commented, “Our third quarter results exceeded our expectations and were well above pre-pandemic levels. Strong sales growth, solid gross margins, and well managed expenses fueled a 69% increase in operating income versus the third quarter Fiscal 2020 two years ago, helping deliver record third quarter adjusted EPS of $2.36 compared to $1.33 in Fiscal 2020.”

Store Re-Opening Update

As of October 30, 2021, the Company is operating substantially all locations.

Third Quarter Review

Net sales for the third quarter of Fiscal 2022 increased 25% to $601 million from $479 million in the third quarter of Fiscal 2021 and increased 12% from $537 million in the third quarter of Fiscal 2020. The sales increase from Fiscal 2020, reflecting strong back-to-school sales, was driven by a 79% increase in e-commerce sales, increased wholesale sales, like-for-like store sales slightly above Fiscal 2020 levels, and the positive impact of changes in foreign exchange rates. Although the Company has disclosed comparable sales for the third quarter Fiscal 2022, it believes that overall sales is a more meaningful metric during this period due to the impact of COVID-19.

Comparable Sales
Comparable Same Store and Direct Sales:	3QFY22	3QFY21
Journeys Group	15%	(6)%
Schuh Group	23%	1%
Johnston & Murphy Group	77%	(43)%
Total Genesco Comparable Sales	21%	(9)%
Same Store Sales	25%	(18)%
Comparable Direct Sales	7%	62%

Overall sales for the third quarter this year compared to the third quarter of Fiscal 2021 were up 20% at Journeys, up 33% at Schuh, up 69% at Johnston & Murphy and up 6% at Licensed Brands. Overall sales compared to the third quarter of Fiscal 2020 were up 7% at Journeys, up 29% at Schuh and up 103% at Licensed Brands, partially offset by an 8% decrease in Johnston & Murphy sales.

            Third quarter gross margin this year was 49.2%, up 210 basis points, compared with 47.1% last year and flat compared with the third quarter of Fiscal 2020 at 49.2%. Although the increased ecommerce and wholesale mix, as well as freight and logistics cost increases put pressure on the Fiscal 2020 gross margin comparison, this was mitigated by fewer markdowns at Journeys and Johnston & Murphy.

GAAP selling and administrative expense for the third quarter this year decreased 220 basis points as a percentage of sales compared with last year and decreased 240 basis points compared with the third quarter of Fiscal 2020.  Adjusted selling and administrative expense for the third quarter this year decreased 250 basis points as a percentage of sales compared with last year and decreased 260 basis points compared with the third quarter of Fiscal 2020. The decrease from Fiscal 2020 is due primarily to reduced occupancy expense, along with selling salaries and depreciation, partially offset by increased marketing expenses. The reduction in occupancy expense is driven in part by rent abatement agreements with landlords and savings from government programs in Canada and the U.K.

Genesco’s GAAP operating income for the third quarter was $43.8 million, or 7.3% of sales this year, compared with $8.2 million, or 1.7% of sales last year, and $25.9 million, or 4.8% of sales in the third quarter of Fiscal 2020. Adjusted for the Excluded Items in all periods, operating income for the third quarter was $45.2 million this year compared to $13.9 million last year and $26.7 million in the third quarter of Fiscal 2020. Adjusted operating margin was 7.5% of sales in the third quarter of Fiscal 2022, 2.9% last year and 5.0% in the third quarter of Fiscal 2020.

The effective tax rate for the quarter was 23.5% in Fiscal 2022 compared to -7.4% last year and 25.4% in the third quarter of Fiscal 2020. The adjusted effective tax rate, reflecting Excluded Items, was 22.7% in the third quarter of Fiscal 2022 compared to 4.4% last year and 26.2% in the third quarter of Fiscal 2020.  The higher adjusted effective tax rate for this year as compared to last year reflects the inability to recognize a tax benefit for certain foreign losses and a higher mix of earnings in jurisdictions where the Company generates taxable income.

GAAP earnings from continuing operations were $33.0 million in the third quarter of Fiscal 2022, compared to $7.5 million in the third quarter last year and $19.0 million in the third quarter of Fiscal 2020. Adjusted for the Excluded Items in all periods, third quarter earnings from continuing operations were $34.5 million, or $2.36 per share, in Fiscal 2022, compared to $12.1 million, or $0.85 per share, last year and $19.4 million, or $1.33 per share, in the third quarter of Fiscal 2020.

Cash, Borrowings and Inventory

Cash and cash equivalents as of October 30, 2021, were $282.8 million, compared with $115.1 million as of October 31, 2020. Total debt at the end of the third quarter of Fiscal 2022 was $15.6 million compared with $32.9 million at the end of last year’s third quarter. Inventories decreased 8% in the third quarter of Fiscal 2022 on a year-over-year basis and decreased 28% versus the third quarter of Fiscal 2020.

Capital Expenditures and Store Activity

For the third quarter, capital expenditures were $15 million, related primarily to the new headquarters building and digital and omnichannel initiatives. Depreciation and amortization was $10 million.  During the quarter, the Company closed five stores. The Company ended the quarter with 1,434 stores compared with 1,476 stores at the end of the third quarter last year, or a decrease of 3%. Square footage was down 3% on a year-over-year basis.

Share Repurchases

The Company repurchased 521,693 shares during the third quarter of Fiscal 2022 at a cost of $30.6 million or an average of $58.71 per share. The Company currently has $59 million remaining on the $100 million board authorization from September 2019.

Fiscal 2022 Outlook

For Fiscal 2022, the Company expects:

• Sales to be up 9% to 11%, compared to FY20

• Adjusted diluted earnings per share from continuing operations in the range of $6.40 to $6.90, which represents growth of approximately 45% at the mid-point compared to Fiscal 2020, with an expectation that earnings per share for the year will be near the mid-point of the range.  

Please refer to the Q3FY22 conference call and Q3FY22 Summary Results presentation for details regarding guidance assumptions, including assumptions regarding COVID-19 and effects on the Company’s supply chain.

Conference Call, Management Commentary and Investor Presentation

The Company has posted detailed financial commentary and a supplemental financial presentation of third quarter results on its website, www.genesco.com, in the investor relations section.  The Company's live conference call on December 3, 2021, at 7:30 a.m. (Central time), may be accessed through the Company's website, www.genesco.com. To listen live, please go to the website at least 15 minutes early to register, download and install any necessary software.

Safe Harbor Statement  

This release contains forward-looking statements, including those regarding the performance outlook for the Company, expectations with respect to sales, earnings, growth, returning capital to shareholders and all other statements not addressing solely historical facts or present conditions.  Forward-looking statements are usually identified by or are associated with such words as “intend,” “expect,” “believe,” “anticipate,” “should,” “optimistic” and similar terminology.  Actual results could vary materially from the expectations reflected in these statements.  A number of factors could cause differences.  These include adjustments to projections reflected in forward-looking statements, including those resulting from the effects of COVID-19 on the Company’s business, including COVID-19 case spikes in locations in which the Company operates, store closures due to COVID-19,  weakness in store and shopping mall traffic, timing of in person back-to-work and back-to-school and sales with respect thereto, expectations regarding the COVID-19 vaccine rollout and acceptance, restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements, and limitations on the Company’s ability to adequately staff and operate stores.  Differences from expectations could also result from store closures and effects on the business as a result of civil disturbances; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the imposition of tariffs on product imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; the Company’s ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of COVID-19; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; the effects of the British decision to exit the European Union and other sources of market weakness in the U.K. and Republic of Ireland; the effectiveness of the Company's omnichannel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and the U.K.; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets; risks related to the potential for terrorist events; risks related to public health and safety events; changes in buying patterns by significant wholesale customers; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons.  Additional factors that could cause differences from expectations include the ability to renew leases in existing stores and control or lower occupancy costs, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; the timing and amount of share repurchases; the Company’s ability to realize anticipated cost savings, including rent savings; the Company’s ability to achieve expected digital gains

and gain market share; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems; the Company’s ability to realize any anticipated tax benefits; changes to U.S. tax laws impacting the Company’s tax liabilities; and the cost and outcome of litigation, investigations and environmental matters involving the Company.  Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com.  Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict.  Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.  Forward-looking statements reflect the expectations of the Company at the time they are made.  The Company disclaims any obligation to update such statements.

About Genesco Inc.

Genesco Inc., a Nashville-based specialty retail and branded company, sells footwear and accessories in more than 1,430 retail stores throughout the U.S., Canada, the United Kingdom and the Republic of Ireland, principally under the names Journeys, Journeys Kidz, Little Burgundy, Schuh, Schuh Kids, Johnston & Murphy, and on internet websites www.journeys.com, www.journeyskidz.com, www.journeys.ca, www.littleburgundyshoes.com, www.schuh.co.uk, www.johnstonmurphy.com, www.johnstonmurphy.ca, www.nashvilleshoewarehouse.com, and www.dockersshoes.com. In addition, Genesco sells footwear at wholesale under its Johnston & Murphy brand, the licensed Levi’s brand, the licensed Dockers brand, the licensed Bass brand, and other brands. Genesco is committed to progress in its diversity, equity and inclusion efforts, and the Company’s environmental, social and governance stewardship. For more information on Genesco and its operating divisions, please visit www.genesco.com.

Genesco Inc. FinancialContact

Thomas A. George

(615) 367-7465

tgeorge@genesco.com

Genesco Inc. Media Contact

Claire S. McCall

(615) 367-8283

cmccall@genesco.com

GENESCO INC.

Condensed Consolidated Statements of Operations

(in thousands, except per share data)

(Unaudited)

	Quarter 3						Quarter 3
	Oct. 30, 2021			% of Net Sales			Oct. 31, 2020			% of Net Sales
Net sales	$	600,546			100.0	%	$	479,280			100.0	%
Cost of sales		305,345			50.8	%		253,776			52.9	%
Gross margin		295,201			49.2	%		225,504			47.1	%
Selling and administrative expenses		251,131			41.8	%		210,961			44.0	%
Asset impairments and other, net		314			0.1	%		6,359			1.3	%
Operating income		43,756			7.3	%		8,184			1.7	%
Other components of net periodic benefit cost (income)		55			0.0	%		(182	)		0.0	%
Interest expense, net		585			0.1	%		1,404			0.3	%
Earnings from continuing operations before income taxes		43,116			7.2	%		6,962			1.5	%
Income tax expense (benefit)		10,135			1.7	%		(514	)		-0.1	%
Earnings from continuing operations		32,981			5.5	%		7,476			1.6	%
Loss from discontinued operations, net of tax		(86	)		0.0	%		(10	)		0.0	%
Net Earnings	$	32,895			5.5	%	$	7,466			1.6	%
Basic earnings per share:
Before discontinued operations	$	2.30					$	0.52
Net earnings	$	2.30					$	0.52
Diluted earnings per share:
Before discontinued operations	$	2.26					$	0.52
Net earnings	$	2.25					$	0.52
Weighted-average shares outstanding:
Basic		14,314						14,283
Diluted		14,616						14,362

GENESCO INC.

Condensed Consolidated Statements of Operations

(in thousands, except per share data)

(Unaudited)

	Nine Months Ended						Nine Months Ended
	Oct. 30, 2021			% of Net Sales			Oct. 31, 2020			% of Net Sales
Net sales	$	1,694,424			100.0	%	$	1,149,729			100.0	%
Cost of sales		869,039			51.3	%		637,081			55.4	%
Gross margin		825,385			48.7	%		512,648			44.6	%
Selling and administrative expenses		743,147			43.9	%		587,264			51.1	%
Goodwill impairment		—			0.0	%		79,259			6.9	%
Asset impairments and other, net		10,054			0.6	%		15,953			1.4	%
Operating income (loss)		72,184			4.3	%		(169,828	)		-14.8	%
Other components of net periodic benefit cost (income)		72			0.0	%		(488	)		0.0	%
Interest expense, net		1,931			0.1	%		4,178			0.4	%
Earnings (loss) from continuing operations before income taxes		70,181			4.1	%		(173,518	)		-15.1	%
Income tax expense (benefit)		17,432			1.0	%		(27,446	)		-2.4	%
Earnings (loss) from continuing operations		52,749			3.1	%		(146,072	)		-12.7	%
Loss from discontinued operations, net of tax		(39	)		0.0	%		(275	)		0.0	%
Net Earnings (Loss)	$	52,710			3.1	%	$	(146,347	)		-12.7	%
Basic earnings (loss) per share:
Before discontinued operations	$	3.69					$	(10.29	)
Net earnings (loss)	$	3.68					$	(10.31	)
Diluted earnings (loss) per share:
Before discontinued operations	$	3.60					$	(10.29	)
Net earnings (loss)	$	3.60					$	(10.31	)
Weighted-average shares outstanding:
Basic		14,313						14,191
Diluted		14,643						14,191

GENESCO INC.

Sales/Earnings Summary by Segment

(in thousands)

(Unaudited)

	Quarter 3						Quarter 3
	Oct. 30, 2021			% of Net Sales			Oct. 31, 2020			% of Net Sales
Sales:
Journeys Group	$	379,927			63.3	%	$	317,682			66.3	%
Schuh Group		119,791			19.9	%		90,021			18.8	%
Johnston & Murphy Group		66,835			11.1	%		39,655			8.3	%
Licensed Brands		33,993			5.7	%		31,922			6.7	%
Net Sales	$	600,546			100.0	%	$	479,280			100.0	%
Operating income (loss):
Journeys Group	$	43,403			11.4	%	$	24,035			7.6	%
Schuh Group		9,701			8.1	%		6,766			7.5	%
Johnston & Murphy Group		1,641			2.5	%		(11,137	)		-28.1	%
Licensed Brands		(132	)		-0.4	%		792			2.5	%
Corporate and Other(1)		(10,857	)		-1.8	%		(12,272	)		-2.6	%
Operating income		43,756			7.3	%		8,184			1.7	%
Other components of net periodic benefit cost (income)		55			0.0	%		(182	)		0.0	%
Interest, net		585			0.1	%		1,404			0.3	%
Earnings from continuing operations before income taxes		43,116			7.2	%		6,962			1.5	%
Income tax expense (benefit)		10,135			1.7	%		(514	)		-0.1	%
Earnings from continuing operations		32,981			5.5	%		7,476			1.6	%
Loss from discontinued operations, net of tax		(86	)		0.0	%		(10	)		0.0	%
Net Earnings	$	32,895			5.5	%	$	7,466			1.6	%

⁽¹⁾ Includes a $0.3 million charge in the third quarter of Fiscal 2022 which includes $0.2 million for retail store asset impairments and $0.1 million for professional fees related to the actions of a shareholder activist.  Includes a $6.4 million charge in the third quarter of Fiscal 2021 for retail store asset impairments.

GENESCO INC.

Sales/Earnings Summary by Segment

(in thousands)

(Unaudited)

	Nine Months Ended						Nine Months Ended
	Oct. 30, 2021			% of Net Sales			Oct. 31, 2020			% of Net Sales
Sales:
Journeys Group	$	1,102,750			65.1	%	$	763,238			66.4	%
Schuh Group		294,581			17.4	%		208,918			18.2	%
Johnston & Murphy Group		176,756			10.4	%		102,601			8.9	%
Licensed Brands		120,337			7.1	%		74,972			6.5	%
Net Sales	$	1,694,424			100.0	%	$	1,149,729			100.0	%
Operating income (loss):
Journeys Group	$	106,895			9.7	%	$	(2,888	)		-0.4	%
Schuh Group		9,477			3.2	%		(15,158	)		-7.3	%
Johnston & Murphy Group		2,412			1.4	%		(38,964	)		-38.0	%
Licensed Brands		3,420			2.8	%		(2,931	)		-3.9	%
Corporate and Other(1)		(50,020	)		-3.0	%		(30,628	)		-2.7	%
Goodwill Impairment		—			0.0	%		(79,259	)		-6.9	%
Operating income (loss)		72,184			4.3	%		(169,828	)		-14.8	%
Other components of net periodic benefit cost (income)		72			0.0	%		(488	)		0.0	%
Interest, net		1,931			0.1	%		4,178			0.4	%
Earnings (loss) from continuing operations before income taxes		70,181			4.1	%		(173,518	)		-15.1	%
Income tax expense (benefit)		17,432			1.0	%		(27,446	)		-2.4	%
Earnings (loss) from continuing operations		52,749			3.1	%		(146,072	)		-12.7	%
Loss from discontinued operations, net of tax		(39	)		0.0	%		(275	)		0.0	%
Net Earnings (Loss)	$	52,710			3.1	%	$	(146,347	)		-12.7	%

⁽¹⁾ Includes a $10.0 million charge in the first nine months of Fiscal 2022 which includes $8.6 million for professional fees related to the actions of a shareholder activist and $2.0 million for retail store asset impairments, partially offset by a $0.6 million insurance gain.   Includes a $16.0 million charge in the first nine months of Fiscal 2021 which includes a $5.3 million charge for trademark impairment and an $11.1 million charge for retail store asset impairments, partially offset by a $0.4 million gain for the release of an earnout related to the Togast acquisition.

GENESCO INC.

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited)

	Oct. 30, 2021		Oct. 31, 2020
Assets
Cash and cash equivalents	$	282,764	$	115,061
Accounts receivable		36,991		35,592
Inventories		339,198		370,699
Other current assets(1)		85,476		62,606
Total current assets		744,429		583,958
Property and equipment		207,489		210,834
Operating lease right of use assets		573,842		640,078
Goodwill and other intangibles		69,456		67,793
Other non-current assets		21,593		33,837
Total Assets	$	1,616,809	$	1,536,500
Liabilities and Equity
Accounts payable	$	196,024	$	151,978
Current portion operating lease liabilities		144,453		196,603
Other current liabilities		133,569		84,061
Total current liabilities		474,046		432,642
Long-term debt		15,610		32,850
Long-term operating lease liabilities		490,330		560,082
Other long-term liabilities		44,399		40,954
Equity		592,424		469,972
Total Liabilities and Equity	$	1,616,809	$	1,536,500

⁽¹⁾ Includes prepaid income taxes of $58.5 million at October 30, 2021.

GENESCO INC.

Store Count Activity

	Balance 02/01/20		Open		Close		Balance 01/30/21		Open		Close		Balance 10/30/21
Journeys Group		1,171		8		20		1,159		3		25		1,137
Schuh Group		129		1		7		123		0		0		123
Johnston & Murphy Group		180		4		6		178		1		5		174
Total Retail Units		1,480		13		33		1,460		4		30		1,434

GENESCO INC.

Store Count Activity

	Balance 07/31/21		Open		Close		Balance 10/30/21
Journeys Group		1,142		0		5		1,137
Schuh Group		123	0		0			123
Johnston & Murphy Group		174		0		0		174
Total Retail Units		1,439		0		5		1,434

GENESCO INC.

Comparable Sales⁽¹⁾

	Quarter 3						Nine Months
	Oct. 30, 2021			Oct. 31, 2020			Oct. 30, 2021			Oct. 31, 2020
Journeys Group		15	%		-6	%	NA			NA
Schuh Group		23	%		1	%	NA			NA
Johnston & Murphy Group		77	%		-43	%	NA			NA
Total Comparable Sales		21	%		-9	%	NA			NA
Same Store Sales		25	%		-18	%	NA			NA
Comparable Direct Sales		7	%		62	%		4	%		88	%

⁽¹⁾ As a result of store closures in response to the COVID-19 pandemic and the Company's policy of removing any store closed for seven consecutive days from comparable sales, the Company has not included comparable sales for the nine months this year and last year, except for comparable direct sales, as it felt that overall sales was a more meaningful metric during these periods.

GENESCO INC.

COVID-19 Related Items

Decrease (Increase) to Pretax Earnings

(in thousands)

(Unaudited)

	Quarter 3						Nine Months Ended
	Oct. 30, 2021			Oct. 31, 2020			Oct. 30, 2021			Oct. 31, 2020
Goodwill impairment	$	—		$	—		$	—		$	79,259
Incremental retail store asset impairment(1)		—			5,828		$	—		$	9,564
Trademark impairment(1)		—			—		$	—		$	5,260
Release of Togast earnout(1)		—			—			—			(441	)
Excess inventory(2) and (3)		(1,610	)		1,051			(3,436	)		5,328
Excess freight & logistics costs(3)		4,050			—			4,050			—
Non-productive compensation(4) and (5)		(134	)		2,574			(334	)		7,262
UK property tax relief(4)		(1,348	)		(3,922	)		(8,476	)		(9,412	)
Other governmental relief(4) and (6)		(804	)		—			(5,191	)		—
Rent abatements and temporary rent concessions(4) and (7)		(4,847	)		(8,224	)		(13,421	)		(11,153	)
Incremental bad debt reserve(4)		—			(67	)		—			2,998
Other(4) and (8)		—			275			—			1,169
Total COVID-19 Related Items	$	(4,693	)	$	(2,485	)	$	(26,808	)	$	89,834

⁽¹⁾ Included in asset impairments and other, net on the Condensed Consolidated Statements of Operations.

⁽²⁾ Estimated impact of COVID-19 upon permanent markdowns and inventory markdown reserves as well as sell through of inventory previously reserved.

⁽³⁾ Included in cost of sales on the Condensed Consolidated Statements of Operations.

⁽⁴⁾ Included in selling and administrative expenses on the Condensed Consolidated Statements of Operations.

⁽⁵⁾ Certain compensation paid to furloughed workers and commission based associates, net of the CARES Act, and U.K., ROI and Canadian government relief.

⁽⁶⁾ Includes U.K. and ROI Relief Grants and Canadian rent subsidy.

⁽⁷⁾ Estimated impact of abatements and temporary rent savings agreements that are being recognized when executed if they pertain to a prior period.

⁽⁸⁾ Includes primarily severance and increased cleaning and personal protective equipment expenses in the third quarter and first nine months of Fiscal 2021 and is partially offset by the reversal of percentage rent for the first nine months of Fiscal 2021.

Schedule B

Genesco Inc.

Adjustments to Reported Earnings (Loss) from Continuing Operations

Three Months Ended October 30, 2021, October 31, 2020 and November 2, 2019

The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.

	Quarter 3							Quarter 3									Quarter 3
	October 30, 2021							October 30, 2020									November 2, 2019
In Thousands (except per share amounts)	Pretax		Net of Tax			Per Share Amounts		Pretax			Net of Tax			Per Share Amounts			Pretax		Net of Tax			Per Share Amounts
Earnings from continuing operations, as reported			$	32,981		$	2.26				$	7,476		$	0.52				$	18,979		$	1.31
Asset impairments and other adjustments:
Retail store and intangible asset impairment charges	$	225		162			0.01	$	6,359			4,337			0.30		$	799		633			0.04
Fees related to shareholder activist		89		85			0.00		—			—			0.00			—		—			0.00
Expenses related to new HQ building		1,157		824			0.06		—			—			0.00			—		—			0.00
Insurance gain		—		(1	)		0.00		—			—			0.00			—		—			0.00
Change in vacation policy		—		—			0.00		(616	)		(394	)		(0.02	)		—		—			0.00
Loss on lease terminations		—		—			0.00		—			—			0.00			—		3			0.00
Gain on Hurricane Maria		—		—			0.00		—			—			0.00			—		(3	)		0.00
Total asset impairments and other adjustments	$	1,471		1,070			0.07	$	5,743			3,943			0.28		$	799		633			0.04
Income tax expense adjustments:
Other tax items				419			0.03					728			0.05					(245	)		(0.02	)
Total income tax expense adjustments				419			0.03					728			0.05					(245	)		(0.02	)
Adjusted earnings from continuing operations (1) and (2)			$	34,470		$	2.36				$	12,147		$	0.85				$	19,367		$	1.33

⁽¹⁾   The adjusted tax rate for the third quarter of Fiscal 2022, 2021 and 2020 is 22.7%, 4.4% and 26.2%, respectively.

⁽²⁾ EPS reflects 14.6 million, 14.4 million and 14.5 million share count for the third quarter of Fiscal 2022, 2021 and 2020, respectively, which includes common stock equivalents in each period.

Schedule B

Genesco Inc.

Adjustments to Reported Operating Income (Loss) and Selling and Administrative Expenses

Three Months Ended October 30, 2021, October 31, 2020 and November 2, 2019

	Quarter 3 - October 30, 2021
In Thousands	Operating Income (Loss)			Asset Impair & Other Adj		Adj Operating Income (Loss)
Journeys Group	$	43,403		$	—	$	43,403
Schuh Group		9,701			—		9,701
Johnston & Murphy Group		1,641			—		1,641
Licensed Brands		(132	)		—		(132	)
Corporate and Other		(10,857	)		1,471		(9,386	)
Total Operating Income	$	43,756		$	1,471	$	45,227
% of sales		7.3	%				7.5	%

	Quarter 3 - October 31, 2020
In Thousands	Operating Income (Loss)			Asset Impair & Other Adj			Adj Operating Income (Loss)
Journeys Group	$	24,035		$	(263	)	$	23,772
Schuh Group		6,766			—			6,766
Johnston & Murphy Group		(11,137	)		(96	)		(11,233	)
Licensed Brands		792			(39	)		753
Corporate and Other		(12,272	)		6,141			(6,131	)
Total Operating Income	$	8,184		$	5,743		$	13,927
% of sales		1.7	%					2.9	%

	Quarter 3 - November 2, 2019
In Thousands	Operating Income (Loss)			Asset Impair & Other Adj		Adj Operating Income (Loss)
Journeys Group	$	28,955		$	—	$	28,955
Schuh Group		4,369			—		4,369
Johnston & Murphy Group		3,715			—		3,715
Licensed Brands		(27	)		—		(27	)
Corporate and Other		(11,069	)		799		(10,270	)
Total Operating Income	$	25,943		$	799	$	26,742
% of sales		4.8	%				5.0	%

	Quarter 3
In Thousands	October 30, 2021			October 31, 2020			November 2, 2019
Selling and administrative expenses, as reported	$	251,131		$	210,961		$	237,460
Expenses related to new HQ building		(1,157	)		—			—
Change in vacation policy		—			616			—
Total adjustments		(1,157	)		616			—
Adjusted selling and administrative expenses		249,974			211,577			237,460
% of sales		41.6	%		44.1	%		44.2	%

Schedule B

Genesco Inc.

Adjustments to Reported Earnings (Loss) from Continuing Operations

Nine Months Ended October 30, 2021, October 31, 2020 and November 2, 2019

The Company believes that disclosure of earnings (loss) and earnings (loss) per share from continuing operations and operating income (loss) adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results.

	Nine Months									Nine Months									Nine Months
	October 30, 2021									October 30, 2020									November 2, 2019
In Thousands (except per share amounts)	Pretax			Net of Tax			Per Share Amounts			Pretax			Net of Tax			Per Share Amounts			Pretax			Net of Tax			Per Share Amounts
Earnings (loss) from continuing operations, as reported				$	52,749		$	3.60					$	(146,072	)	$	(10.29	)				$	26,242		$	1.63
Asset impairments and other adjustments:
Retail store and intangible asset impairment charges	$	2,049			1,688			0.12		$	11,134			7,878			0.55		$	1,837			1,296			0.08
Fees related to shareholder activist		8,583			6,078			0.42			—			—			0.00			—			—			0.00
Expenses related to new HQ building		2,911			2,061			0.14			—			—			0.00			—			—			0.00
Insurance gain		(578	)		(409	)		(0.03	)		—			—			0.00			—			—			0.00
Trademark impairment		—			—			0.00			5,260			5,153			0.36			—			—			0.00
Goodwill impairment		—			—			0.00			79,259			79,259			5.58			—			—			0.00
Release Togast earnout		—			—			0.00			(441	)		(323	)		(0.02	)		—			—			0.00
Change in vacation policy		—			—			0.00			(1,848	)		(1,308	)		(0.09	)		—			—			0.00
Loss on lease terminations		—			—			0.00			—			—			0.00			44			31			0.00
Gain on Hurricane Maria		—			—			0.00			—			—			0.00			(38	)		(27	)		0.00
Total asset impairments and other adjustments	$	12,965			9,418			0.65		$	93,364			90,659			6.38		$	1,843			1,300			0.08
Income tax expense adjustments:
Tax impact share based awards					(1,747	)		(0.12	)					1,129			0.08						(54	)		0.00
Other tax items					1,015			0.07						(2,433	)		(0.17	)					244			0.01
Total income tax expense adjustments					(732	)		(0.05	)					(1,304	)		(0.09	)					190			0.01
Adjusted earnings (loss) from continuing operations (1) and (2)				$	61,435		$	4.20					$	(56,717	)	$	(4.00	)				$	27,732		$	1.72

⁽¹⁾    The adjusted tax rate for the first nine months of Fiscal 2022, 2021 and 2020 is 26.1%, 29.2% and 29.5%, respectively.

⁽²⁾ EPS reflects 14.6 million, 14.2 million and 16.1 million share count for the first nine months of Fiscal 2022, 2021 and 2020, respectively, which includes common stock equivalents in the first nine months of Fiscal 2022 and Fiscal 2020 and excludes common stock equivalents in the first nine months of Fiscal 2021 due to the loss from continuing operations.

Schedule B

Genesco Inc.

Adjustments to Reported Operating Income (Loss) and Selling and Administrative Expenses

Nine Months Ended October 30, 2021, October 31, 2020 and November 2, 2019

	Nine Months - October 30, 2021
In Thousands	Operating Income (Loss)			Asset Impair & Other Adj		Adj Operating Income (Loss)
Journeys Group	$	106,895		$	—	$	106,895
Schuh Group		9,477			—		9,477
Johnston & Murphy Group		2,412			—		2,412
Licensed Brands		3,420			—		3,420
Corporate and Other		(50,020	)		12,965		(37,055	)
Total Operating Income	$	72,184		$	12,965	$	85,149
% of sales		4.3	%				5.0	%

	Nine Months - October 31, 2020
In Thousands	Operating Income (Loss)			Asset Impair & Other Adj			Adj Operating Income (Loss)
Journeys Group	$	(2,888	)	$	(789	)	$	(3,677	)
Schuh Group		(15,158	)		—			(15,158	)
Johnston & Murphy Group		(38,964	)		(288	)		(39,252	)
Licensed Brands		(2,931	)		(117	)		(3,048	)
Goodwill Impairment		(79,259	)		79,259			—
Corporate and Other		(30,628	)		15,299			(15,329	)
Total Operating Loss	$	(169,828	)	$	93,364		$	(76,464	)
% of sales		-14.8	%					-6.7	%

	Nine Months - November 2, 2019
In Thousands	Operating Income (Loss)			Asset Impair & Other Adj		Adj Operating Income (Loss)
Journeys Group	$	59,260		$	—	$	59,260
Schuh Group		(1,020	)		—		(1,020	)
Johnston & Murphy Group		10,339			—		10,339
Licensed Brands		151			—		151
Corporate and Other		(30,741	)		1,843		(28,898	)
Total Operating Income	$	37,989		$	1,843	$	39,832
% of sales		2.5	%				2.6	%

	Nine Months
In Thousands	October 30, 2021			October 31, 2020			November 2, 2019
Selling and administrative expenses, as reported	$	743,147		$	587,264		$	705,811
Expenses related to new HQ building		(2,911	)		—			—
Change in vacation policy		—			1,848			—
Total adjustments		(2,911	)		1,848			—
Adjusted selling and administrative expenses		740,236			589,112			705,811
% of sales		43.7	%		51.2	%		46.5	%

Schedule B

Genesco Inc.

Adjustments to Forecasted Earnings from Continuing Operations

Three Months Ending January 29, 2022

In millions (except per share amounts)	High Guidance Fiscal 2022				Low Guidance Fiscal 2022
	Net of Tax		Per Share		Net of Tax		Per Share
Forecasted earnings from continuing operations	$	37.5	$	2.61	$	30.0	$	2.09
Asset impairments and other adjustments:
Retail store asset impairments and other matters	0.4		0.03			0.7	0.05
New building costs	1.1		0.08		1.1		0.08
Total asset impairments and other adjustments (1)		1.5		0.11		1.8		0.13
Adjusted forecasted earnings from continuing operations (2)	$	39.0	$	2.72	$	31.8	$	2.22

⁽¹⁾ All adjustments are net of tax where applicable.  The forecasted tax rate for the 4th quarter of Fiscal 2022 is approximately 28%.

⁽²⁾ EPS reflects 14.3 million share count for the 4th quarter of Fiscal 2022 which includes common stock equivalents.

This reconciliation reflects estimates and current expectations of future results. Actual results may vary materially from these expectations and estimates, for reasons including those included in the discussion of forward-looking statements elsewhere in this release. The Company disclaims any obligation to update such expectations and estimates.  

Schedule B

Genesco Inc.

Adjustments to Forecasted Earnings from Continuing Operations

Fiscal Year Ending January 29, 2022

In millions (except per share amounts)	High Guidance Fiscal 2022						Low Guidance Fiscal 2022
	Net of Tax			Per Share			Net of Tax			Per Share
Forecasted earnings from continuing operations	$	90.2		$	6.20		$	82.7		$	5.68
Asset impairments and other adjustments:
Retail store asset impairments and other matters	1.7			0.11				2.0		0.13
New building costs	3.1			0.22			3.1			0.22
Fees related to shareholder activist		6.1			0.42			6.1			0.42
Total asset impairments and other adjustments (1)		10.9			0.75			11.2			0.77
Total income tax expense adjustments		(0.7	)		(0.05	)		(0.7	)		(0.05	)
Adjusted forecasted earnings from continuing operations (2)	$	100.4		$	6.90		$	93.2		$	6.40

⁽¹⁾ All adjustments are net of tax where applicable.  The forecasted tax rate for Fiscal 2022 is approximately 27%.

⁽²⁾ EPS reflects 14.6 million share count for Fiscal 2022 which includes common stock equivalents.

This reconciliation reflects estimates and current expectations of future results. Actual results may vary materially from these expectations and estimates, for reasons including those included in the discussion of forward-looking statements elsewhere in this release. The Company disclaims any obligation to update such expectations and estimates.  

EX-99.2

FY22 Q3 GENESCO December 3, 2021 Summary Results Exhibit 99.2

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

We report consolidated financial results in accordance with generally accepted accounting principles (“GAAP”). However, to supplement these consolidated financial results our presentation includes certain non-GAAP financial measures such as earnings and earnings per share and operating income. This supplemental information should not be considered in isolation as a substitute for related GAAP measures. We believe that disclosure of earnings and earnings per share from continuing operations and operating income adjusted for the items not reflected in the previously announced expectations will be meaningful to investors, especially in light of the impact of such items on the results. Reconciliations of the non-GAAP supplemental information to the comparable GAAP measures can be found in the Appendix. Non-GAAP Financial Measures

4 Our Footwear Focused Vision & Strategy Vision

5 Our Footwear Focused Vision & Strategy Strategic Initiatives/Pillars

Highlights Q3 FY22 6 Third quarter revenue of $601 million increased 25% vs. last year and 12% vs. the pre-pandemic third quarter two years ago. Revenue growth, better-than-expected gross margins and expense leverage resulted in an operating income increase of 69% over pre-pandemic levels and record EPS of $2.36 compared with $0.85 last year and $1.33 two years ago, all on an adjusted basis. Driving store sales up 30% year-over-year through increased conversion, returning like-for-like store sales above pre-pandemic levels for the first time. Digital sales, which come with double-digit operating margins, increased 11% year-over-year and 79% compared to FY20. With this, our ecommerce business now represents 18% of total retail sales. Increasing gross margin by 210 basis points vs. last year, driven primarily by higher full price selling and price increases, while being flat with FY20, despite the challenges in the supply chain and changing mix of our business. Leveraging adjusted SG&A by 260 basis points compared to pre-pandemic levels, as we made progress on efforts to reshape our cost structure. Restarting our share repurchase activity by buying back $31 million of GCO stock, demonstrating our strong financial position, confidence in our future and commitment to our strong track record of returning capital to shareholders.

$601 MILLION IN SALES +79% +69% Q3 FY22 Key Earnings Highlights +12% vs. FY20 GROWTH IN E-COMMERCE SALES VS FY20 $2.26 GAAP EPS vs. $1.31 FY20 $2.36 Non-GAAP EPS vs. $1.33 FY20 GROWTH IN NON-GAAP OPERATING INCOME VS FY20

For Position Only Key Earnings Highlights Q3 FY22

FY22 Key Earnings Highlights

E-Commerce Sales Highlights Q3 FY22 (1) Retail sales represent combined store sales and e-commerce sales

For Position Only= Total Sales Q3 FY22

Q3 FY22 Sales by Segment FY20 Net Sales $537.3 Million FY22 Net Sales $600.5 Million FY21 Net Sales $479.3 Million 12

YTD FY22 Sales by Segment FY20 Net Sales $1.5 Billion FY22 Net Sales $1.7 Billion FY21 Net Sales $1.1 Billion 13

Adjusted Operating Income (Loss) by Segment (1) Q2 FY22 Q3 FY22

For Position Only (1) Adjusted Operating Income (Loss) by Segment Q2 FY22 (1) YTD FY22 Adjusted Operating Income (Loss) by Segment

Q3 FY22 Inventory/Sales Change by Segment

Q3 FY22 Retail Stores Summary

Q3 FY22 Retail Square Footage

Q4 FY22 Outlook(1) (1) On a Non-GAAP basis, see GAAP to Non-GAAP adjustments in appendix (2) Excludes projected spend for the new corporate headquarters building. Note: Total Sales, Gross Margin and SG&A Expense comparisons below are to Fiscal 2020. See earnings call transcript for important details regarding guidance assumptions.

FY22 Outlook(1) Note: Total Sales, Gross Margin and SG&A Expense comparisons below are to Fiscal 2020. See earnings call transcript for important details regarding guidance assumptions. (1) On a Non-GAAP basis, see GAAP to Non-GAAP adjustments in appendix (2) Excludes projected spend for the new corporate headquarters building.

FY22 Projected Retail Store Count

FY22 Projected Capital Spending Projected FY22 CapEx $35-$40 Million(1) FY22 Projected Depreciation & Amortization = $43 Million (1) Excludes projected spend for the new corporate headquarters building. The projected capex for the new HQ in FY22 is approximately $13 million net of tenant allowance.

Appendix

Non-GAAP Reconciliation Q3 FY22

Non-GAAP Reconciliation YTD FY22

Q3 FY22 Adjusted Selling and Administrative Expenses 26

YTD FY22 Adjusted Selling and Administrative Expenses 27

FY22 Q3 GENESCO December 3, 2021 Summary Results

XML

Document and Entity Information Document	Dec. 03, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Dec. 03, 2021
Entity Registrant Name	GENESCO INC
Entity Central Index Key	0000018498
Amendment Flag	false
Entity Incorporation, State or Country Code	TN
Entity File Number	1-3083
Entity Tax Identification Number	62-0211340
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
City Area Code	615
Local Phone Number	367-7000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	GCO
Security Exchange Name	NYSE