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    Mantero Moreno-Cheek • Jefferies

    Mantero Moreno-Cheek's questions to Genesco Inc (GCO) leadership

    Mantero Moreno-Cheek's questions to Genesco Inc (GCO) leadership • Q4 2025

    Question

    Mantero Moreno-Cheek inquired about the Journeys store remodel program, the expected quarterly cadence of sales and earnings in fiscal '26, and the company's inventory positioning for the upcoming year.

    Answer

    CEO Mimi Vaughn and CFO Cassandra Harris detailed the Journeys remodel strategy, highlighting strong initial results from 16 pilot stores, including double-digit lifts in comps, traffic, and conversion. They plan 70 remodels in fiscal '26, noting the investment has a quicker payback than new stores. Regarding inventory, Mimi Vaughn stated it is in a "great position," having been intentionally rebuilt with fresh product to drive sales. Cassandra Harris reiterated that comps would be at the higher end of the 2-4% range in Q1, while total sales would be impacted by store closures and foreign exchange headwinds.

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    Mantero Moreno-Cheek's questions to Genesco Inc (GCO) leadership • Q3 2025

    Question

    Mantero Moreno-Cheek of Jefferies asked for additional details on the holiday outlook for Journeys, specifically what product categories were underperforming, and what levers could be pulled. He also inquired about the drivers of lower gross margin and the outlook for next year, as well as the e-commerce growth opportunity for Journeys.

    Answer

    Mimi Vaughn, Board Chair, President and CEO, responded that Journeys is well-positioned for the holidays with a focus on scarce, "must-have" items across multiple brands to drive demand. She noted that while traditional boots have been a weaker category, the trend towards mini boots, moccasins, and seasonless items like clogs is strong. Vaughn clarified that gross margin pressure is due to a product mix shift towards lower initial margin (but higher ASP) athletic footwear, not increased promotions; in fact, Journeys was less promotional. She highlighted significant e-commerce potential, pointing to Schuh's 40% digital penetration as a benchmark compared to Journeys' current rate of under 20%.

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    Mantero Moreno-Cheek's questions to Genesco Inc (GCO) leadership • Q2 2025

    Question

    Mantero Moreno-Cheek asked for an update on the marketing strategy for Johnston & Murphy and inquired about the key footwear trends to watch for the back-to-school season.

    Answer

    CEO Mimi Vaughn explained that the Johnston & Murphy marketing campaign is designed to build awareness of the brand's evolution into more casual and comfortable styles, but she stressed that new product and innovation are the primary sales drivers. Regarding back-to-school trends, Vaughn highlighted diversification across many brands and styles, noting strong consumer enthusiasm for footwear in general. She pointed to a continued shift away from vulcanized products toward more premium items with higher average selling prices, which is beneficial for Journeys.

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