GENESCO INC Segments Disclosure
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 . 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.
Fiscal 2026 |
|
|
|
|
|
|
|
|
|
|
|||||
(In thousands) |
Journeys |
|
Schuh |
|
Johnston |
|
Genesco Brands Group |
|
Consolidated |
|
|||||
Net sales to external customers(1) |
$ |
1,494,649 |
|
$ |
500,022 |
|
$ |
320,199 |
|
$ |
121,226 |
|
$ |
2,436,096 |
|
Cost of sales |
|
764,615 |
|
|
304,544 |
|
|
148,727 |
|
|
91,360 |
|
|
|
|
Selling and administrative expenses |
|
669,544 |
|
|
200,023 |
|
|
166,884 |
|
|
29,932 |
|
|
|
|
Segment operating income (loss) |
$ |
60,490 |
|
$ |
(4,545 |
) |
$ |
4,588 |
|
$ |
(66 |
) |
$ |
60,467 |
|
Unallocated selling and administrative expenses |
|
|
|
|
|
|
|
|
|
35,085 |
|
||||
Asset impairments and other(2) |
|
|
|
|
|
|
|
|
|
8,068 |
|
||||
Operating income |
|
|
|
|
|
|
|
|
|
17,314 |
|
||||
Other components of net periodic benefit cost |
|
|
|
|
|
|
|
|
|
625 |
|
||||
Interest expense, net |
|
|
|
|
|
|
|
|
|
4,098 |
|
||||
Earnings from continuing operations before income taxes |
|
|
|
|
|
|
|
|
$ |
12,591 |
|
||||
(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 2026.
(2) Asset impairments and other includes a $3.9 million charge for store restructuring, including $3.6 million in Journeys Group and $0.3 million in Schuh Group, $2.9 million for costs associated with information technology transformation, $0.7 million charge for asset impairments in Schuh Group and $0.6 million for severance.
Note 16
Business Segment Information, Continued
Fiscal 2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
(In thousands) |
Journeys |
|
Schuh |
|
Johnston |
|
Genesco Brands Group |
|
Reportable Segment Total |
|
Corporate |
|
Consolidated |
|
|||||||
Total assets at fiscal year end(1) |
$ |
723,202 |
|
$ |
192,674 |
|
$ |
210,818 |
|
$ |
48,610 |
|
$ |
1,175,304 |
|
$ |
217,674 |
|
$ |
1,392,978 |
|
Depreciation and amortization |
|
32,857 |
|
|
8,099 |
|
|
7,097 |
|
|
1,382 |
|
|
49,435 |
|
|
3,890 |
|
|
53,325 |
|
Capital expenditures |
|
36,772 |
|
|
8,330 |
|
|
15,564 |
|
|
471 |
|
|
61,137 |
|
|
917 |
|
|
62,054 |
|
(1) Of our $710.5 million of long-lived assets, $85.7 million and $15.1 million relate to long-lived assets in the U.K. and Canada, respectively.
Fiscal 2025 |
|
|
|
|
|
|
|
|
|
|
|||||
(In thousands) |
Journeys |
|
Schuh |
|
Johnston |
|
Genesco Brands Group |
|
Consolidated |
|
|||||
Net sales to external customers(1) |
$ |
1,398,922 |
|
$ |
479,891 |
|
$ |
320,208 |
|
$ |
126,041 |
|
$ |
2,325,062 |
|
Cost of sales |
|
715,723 |
|
|
280,395 |
|
|
148,461 |
|
|
83,670 |
|
|
|
|
Selling and administrative expenses |
|
656,854 |
|
|
189,297 |
|
|
163,331 |
|
|
35,565 |
|
|
|
|
Segment operating income |
$ |
26,345 |
|
$ |
10,199 |
|
$ |
8,416 |
|
$ |
6,806 |
|
$ |
51,766 |
|
Unallocated selling and administrative expenses |
|
|
|
|
|
|
|
|
|
34,606 |
|
||||
Asset impairments and other(2) |
|
|
|
|
|
|
|
|
|
3,235 |
|
||||
Operating income |
|
|
|
|
|
|
|
|
|
13,925 |
|
||||
Other components of net periodic benefit cost |
|
|
|
|
|
|
|
|
|
367 |
|
||||
Interest expense, net |
|
|
|
|
|
|
|
|
|
4,250 |
|
||||
Earnings from continuing operations before income taxes |
|
|
|
|
|
|
|
|
$ |
9,308 |
|
||||
(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 2025.
(2) Asset impairments and other includes $1.8 million for severance and $1.4 million charge for asset impairments, of which $0.8 million is in Journeys Group and $0.6 million is in Schuh Group.
Fiscal 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
(In thousands) |
Journeys |
|
Schuh |
|
Johnston |
|
Genesco Brands Group |
|
Reportable Segment Total |
|
Corporate |
|
Consolidated |
|
|||||||
Total assets at fiscal year end(1) |
$ |
673,560 |
|
$ |
189,103 |
|
$ |
183,118 |
|
$ |
77,154 |
|
$ |
1,122,935 |
|
$ |
212,601 |
|
$ |
1,335,536 |
|
Depreciation and amortization |
|
33,785 |
|
|
7,545 |
|
|
5,678 |
|
|
1,313 |
|
|
48,321 |
|
|
4,143 |
|
|
52,464 |
|
Capital expenditures |
|
20,478 |
|
|
9,223 |
|
|
9,555 |
|
|
785 |
|
|
40,041 |
|
|
1,091 |
|
|
41,132 |
|
(1) 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 |
|
Schuh |
|
Johnston |
|
Genesco Brands Group |
|
Consolidated |
|
|||||
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 |
|
|
|
|
Selling and administrative expenses |
|
656,412 |
|
|
185,141 |
|
|
162,671 |
|
|
45,783 |
|
|
|
|
Segment operating income (loss) |
$ |
11,072 |
|
$ |
21,435 |
|
$ |
16,314 |
|
$ |
(8 |
) |
$ |
48,813 |
|
Unallocated selling and administrative expenses |
|
|
|
|
|
|
|
|
|
32,033 |
|
||||
Goodwill impairment (2) |
|
|
|
|
|
|
|
|
|
28,453 |
|
||||
Asset impairments and other(3) |
|
|
|
|
|
|
|
|
|
1,787 |
|
||||
Operating loss |
|
|
|
|
|
|
|
|
|
(13,460 |
) |
||||
Other components of net periodic benefit cost |
|
|
|
|
|
|
|
|
|
537 |
|
||||
Interest expense, net |
|
|
|
|
|
|
|
|
|
7,777 |
|
||||
Loss from continuing operations before income taxes |
|
|
|
|
|
|
|
|
$ |
(21,774 |
) |
||||
Fiscal 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
(In thousands) |
Journeys |
|
Schuh |
|
Johnston |
|
Genesco Brands Group |
|
Reportable Segment Total |
|
Corporate |
|
Consolidated |
|
|||||||
Total assets at fiscal year end(1) |
$ |
659,150 |
|
$ |
200,482 |
|
$ |
165,217 |
|
$ |
59,630 |
|
$ |
1,084,479 |
|
$ |
245,411 |
|
$ |
1,329,890 |
|
Depreciation and amortization |
|
32,419 |
|
|
6,636 |
|
|
5,113 |
|
|
984 |
|
|
45,152 |
|
|
4,289 |
|
|
49,441 |
|
Capital expenditures |
|
38,093 |
|
|
12,183 |
|
|
6,785 |
|
|
2,214 |
|
|
59,275 |
|
|
1,028 |
|
|
60,303 |
|
(1) 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.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 25, 2026 | Showing above |
| 2025 | Mar 26, 2025 | |
| 2024 | Mar 27, 2024 | |
| 2023 | Mar 22, 2023 | |
| 2022 | Mar 23, 2022 | |
| 2021 | Mar 31, 2021 | |
| 2020 | Apr 1, 2020 | |
| 2019 | Apr 3, 2019 | |
| 2018 | Apr 4, 2018 | |
| 2017 | Mar 29, 2017 | |
| 2016 | Mar 30, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.