![]() ![]() We also made significant advancements in our IT transformation with new capacity and capabilities to support omnichannel, e-commerce, consumer analytics and loyalty. Building deeper and stronger connections with our core consumers, powered by our loyalty initiatives at Schuh and J&M, which we will expand to Journeys this year with the launch of its new loyalty program, Journeys: All-Access and making continued major investments in marketing and consumer insights to drive sales, build awareness and elevate our brands. Returning to e-commerce growth after absorbing the pandemic gains early in the year, notching a 21% Q4 digital comp and creating the baseline for future growth. They include proving our brand-building capabilities and growing Genesco's branded platform with successful re-imagining and repositioning of Johnston & Murphy. We also made meaningful progress against several key strategic imperatives to drive growth in the years ahead. We returned over $70 million to shareholders through share repurchases, totaling 10% of our outstanding shares and we delivered adjusted EPS of $5.59, an increase of more than 20% compared with pre pandemic fiscal '20. ![]() Digital penetration accounted for 20% of direct-to-consumer sales, up from 13% in pre pandemic fiscal '20, growing almost 70%. In addition to the strong showing from Schuh and J&M, other highlights from the year we just finished include, total comps improve sequentially through the year, culminating in a 5% comp gain in the fourth quarter with both positive store and positive e-commerce comp. Nevertheless, our performance in fiscal '23 demonstrated resiliency, enabled by our differentiated strategic positioning, the benefits of our multi-division, multi-channel operating model and our experienced team's ability to execute and navigate the market turbulence. The effect of decades, high inflation on the consumer and the elevated footwear channel inventories are the two factors that impacted us the most. While we expected Journeys to get back some of the stimulus yield gains, the business was tested more than we anticipated. Record top line results at both Schuh and Johnston & Murphy helped mitigate some of the pressures that weighed on both Genesco Brands Group and in particular Journeys following its record year in fiscal 2022. Coming off a strong fiscal '22, our footwear focused strategy allowed us to effectively navigate these more challenging conditions this past year. Many areas of our business shined in fiscal '23, even as new headwinds emerged with rapidly changing consumer environment. Good morning, everyone and thank you for joining us today. Now I'd like to turn the call over to Mimi. With me on the call today is Mimi Vaughn, Board Chair, President and Chief Executive Officer and Tom George, Chief Financial Officer. We have also posted a presentation summarizing our results here as well. All non-GAAP financial measures are reconciled to their GAAP counterparts in the attachments to this morning's press release and in schedules available on the company's website in the Quarterly Results section. Participants also expect to refer to certain adjusted financial measures during the call. Genesco refers you to this morning's earnings release and the company's SEC filings, including its most recent 10-K and 10-Q filings for some of the factors that could cause differences from the expectations reflected in the forward-looking statements made today. Participants on the call expect to make forward-looking statements, reflecting our expectations as of today, but actual results could be different. ![]() ![]() Good morning, everyone and thank you for joining us to discuss our fourth quarter and full-year fiscal '23 results. ![]()
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