Genesco(GCO)2025-03-26 14:36Store Operations - The company operated 1,410 retail stores at the end of Fiscal 2023, down from 1,425 in Fiscal 2022, with a net closure of 43 stores during the year [21]. - The Journeys Group accounted for 60% of the company's net sales in Fiscal 2025, operating 1,006 stores and closing a net of 57 stores [26][27]. - The Schuh Group represented 21% of net sales in Fiscal 2025, with 124 stores and a net opening of 2 stores during the year [28][29]. - Johnston & Murphy Group accounted for 14% of net sales in Fiscal 2025, operating 148 retail shops and closing a net of 8 stores [30][31]. - The Genesco Brands Group segment accounted for 5% of net sales in Fiscal 2025, focusing on licensed footwear under various brand names [33]. - The company aims to optimize its store footprint, potentially reducing overall square footage while improving productivity in existing locations [23]. Financial Performance - As of March 1, 2025, the company's wholesale operations had a backlog of approximately 49.0 million in the previous year [38]. - The business is seasonal, with peaks in working capital investment during spring and fall, and a significant portion of net sales generated in Q4 [64]. Employee and Culture - The company employs approximately 18,000 individuals, with 70% part-time and 30% full-time as of February 1, 2025 [43]. - The company has a strong promote-from-within culture and focuses on relevant training and development for employees [52]. - The board of directors comprises 67% diverse members as of February 1, 2025 [63]. Corporate Responsibility and Ethics - The company is committed to corporate responsibility initiatives, including sustainability practices and reducing environmental impact [39][41]. - The company is committed to responsible sourcing practices and works with vendors who share its ethical standards [53]. - The company published a comprehensive human rights policy in 2021, guided by international standards [54]. - The company engages in community outreach initiatives, supporting underserved communities through various programs [61]. Security and Compliance - Significant investments have been made to improve information security, including end-to-end encryption and multi-factor authentication [57]. - The company complies with complex regulatory standards like GDPR and CCPA, ensuring the protection of personal data [59]. - The company is involved in environmental proceedings related to former manufacturing operations, addressing compliance with health and safety regulations [66]. Strategic Initiatives - The company has established a strategy focused on six pillars to drive growth and sustainable profitability, including digital acceleration and product innovation [23]. - The company files reports with the SEC, including Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q [75].