Genesco, Inc. announced that total overall sales increased by 18 percent and 9 percent for the quarter-to-date period ended December 25, 2021 versus the same period for fiscal 2021 and fiscal 2020, respectively.

Overall sales changes for each business for the period were as follows:

  • Journeys Group grew 8 percent against the 2020 period and increased 3 percent against the 2019 period;
  • Schuh Group increased 28 percent against the 2020 period and increased 16 percent against the 2019 period;
  • Johnston & Murphy Group increased 53 percent against the 2020 period and declined 5 percent against the 2019 period;
  • Licensed Brands increased 104 percent against the 2020 period and increased 514 percent against the 2019 period;
  • Total Overall Sales increased 18 percent against the 2020 period and increased 9 percent against the 2019 period;
  • Total Store Sales increased 23 percent against the 2020 period and declined 2 percent against the 2019 period; and
  • Total Direct Sales were down 10 percent against the 2020 period and increased 33 percent against the 2019 period.

*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 fourth quarter-to-date comparable sales for this year or last year as it feels that overall sales are a more meaningful metric for these periods.

Mimi E. Vaughn, Genesco board chair, president and chief executive officer, said, “We are pleased with our performance this holiday selling season, especially given the supply chain challenges, as strong full-priced selling drove better than expected sales and profitability. While traffic levels have remained healthy thus far in January, our sales trend has moderated as inventory is currently very lean; however, we expect our in-stock positions to improve as the month progresses and feel confident that we will finish the year strong. Therefore, we are reaffirming our total year EPS guidance of $6.40 to $6.90, with our expectation now above the midpoint of the range.”

Genesco provided the update in anticipation of management’s appearance at the 2022 ICR conference.