Genesco Creates Global Retail Organization to Sharpen Consumer Focus and Drive Growth

—Journeys, schuh and Little Burgundy United Under Newly-Created Journeys Global Retail Group—

—Andy Gray Promoted to Lead Journeys Global Retail Group and Chris Santaella Promoted to Global Chief Merchandising Officer—

—New Organization to Maximize Opportunities, Strengthen Market Positioning and Elevate Merchant Impact—

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Genesco Inc. (NYSE: GCO), a footwear industry leader with more than 1,250 retail stores in North America, the U.K., and the Republic of Ireland and a portfolio of owned and licensed lifestyle brands, today announced the formation of the Journeys Global Retail Group which unites Journeys, schuh and Little Burgundy.

Andy Gray, Chief Executive Officer, Journeys Global Retail Group

This alignment creates a powerful opportunity across the Company’s retail banners to position the business as the world’s leading style-led, youth footwear retail group, with a sharp focus on the female consumer. The Journeys Global Retail Group will boost the Company’s global voice, unlock greater growth potential for brand partners, and elevate its world-class talent.

The Company has promoted Andy Gray to lead the new organization as Chief Executive Officer, Journeys Global Retail Group. In addition, Chris Santaella has been named Chief Merchandising Officer, Journeys Global Retail Group, leading the product strategies and merchant teams. Schuh and Little Burgundy leadership will remain in role and report up through this new organization.

“Journeys, schuh and Little Burgundy are the destination retailers for the young, style-led female across their respective markets. We see clear opportunities in every market to grow share by reaching more consumers as we strengthen our brand awareness and elevate our experiences,” said Mimi E. Vaughn, Board Chair, President, and Chief Executive Officer. “With unified global leadership, we will maximize opportunities, strengthen market positioning with the consumer, and drive even greater growth with our brand partners. Andy and Chris are the right leaders for this new organization, building on their tremendous success in repositioning Journeys, their extensive experience in athletic and fashion footwear, their expansive brand partner relationships, and strong connection to youth culture.”

About Andy Gray

Gray’s accomplished career spans global leadership, general management, merchandising, brand building, and consumer strategy. He was named President of Journeys effective January 2024. Previously, he spent over 20 years at Foot Locker in senior roles including Global President, Chief Commercial Officer, Chief Merchandising Officer, General Manager of Foot Locker North America, and General Merchandise Manager for Foot Locker Europe. As Global President and earlier Global Chief Commercial Officer, Gray led the company’s largest global brand portfolio with P&L accountability, overseeing all consumer-facing functions.

About Chris Santaella

Santaella joined Journeys in February 2024 most recently from Foot Locker, where he served more than three decades leading global product strategies in positions ranging from Senior Vice President and Chief Merchandising Officer responsible for Foot Locker, Kids Foot Locker and Champs Sports to leading a 125-person global product organization which included divisional buying teams, global product development and product strategy teams.

Safe Harbor Statement

This release contains forward-looking statements, including those regarding future sales, earnings, operating income, gross margins, expenses, capital expenditures, depreciation and amortization, tax rates, store openings and closures, cost reductions, and all other statements not addressing solely historical facts or present conditions. Forward-looking statements are usually identified by or are associated with such words as “intend,” “expect,” “feel,” “should,” “believe,” “anticipate,” “optimistic,” “confident” and similar terminology. Actual results could vary materially from the expectations reflected in these statements. A number of factors could cause differences. These include adjustments to projections reflected in forward-looking statements, including those resulting from weakness in store and shopping mall traffic, the imposition of tariffs (including the timing and amount thereof) on product imported by the Company or its vendors as well as the ability and costs to move production of products in response to tariffs; our ability to pass on price increases to our customers; restrictions on operations imposed by government entities and/or landlords, changes in public safety and health requirements, and limitations on the Company’s ability to adequately staff and operate stores. Differences from expectations could also result from store closures and effects on the business as a result of the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the Company’s ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution, including disruptions as a result of pandemics or geopolitical events; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; civil disturbances; our ability to renew our license agreements; impacts of the Russia-Ukraine war, and other sources of market weakness in the U.K. and Republic of Ireland; the effectiveness of the Company's omnichannel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and the U.K.; weakness in the consumer economy and retail industry; competition and fashion trends in the Company's markets; risks related to the potential for terrorist events; risks related to public health and safety events; changes in buying patterns by significant wholesale customers; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor; and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to secure allocations to refine product assortments to address consumer demand; the ability to renew leases in existing stores and control or lower occupancy costs, to open or close stores in the number and on the planned schedule, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; the Company’s ability to realize anticipated cost savings, including rent savings; the amount and timing of share repurchases; the Company’s ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of fixed assets, operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for the Company's shares or for the retail sector in general; costs and reputational harm as a result of disruptions in the Company’s business or information technology systems either by security breaches and incidents or by potential problems associated with the implementation of new or upgraded systems; changes in tax laws and tax rates and the Company’s ability to realize any anticipated tax benefits in both the amount and timeframe anticipated; and the cost and outcome of litigation, investigations, environmental matters and other disputes involving the Company. Additional factors are cited in the "Risk Factors," "Legal Proceedings" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of, and elsewhere in, the Company’s SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Company’s website, www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genesco's ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are made. The Company disclaims any obligation to update such statements.

About Genesco Inc.

Genesco Inc. (NYSE: GCO) is a footwear focused company with distinctively positioned retail and lifestyle brands and proven omnichannel capabilities offering customers the footwear they desire in engaging shopping environments, including more than 1,250 retail stores and branded e-commerce websites. Its Journeys, Little Burgundy and schuh brands serve teens, kids and young adults with on-trend fashion footwear inspired by youth culture in the U.S., Canada and the U.K. Johnston & Murphy serves successful, affluent men and women with premium footwear, apparel and accessories in the U.S. and Canada, and Genesco Brands Group sells branded lifestyle footwear to leading retailers under licensed brands including Wrangler, Dockers, Starter and PONY. Founded in 1924, Genesco is based in Nashville, Tennessee. For more information on Genesco and its operating divisions, please visit www.genesco.com.

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Genesco Media Contact

Claire S. McCall, Director, Corporate Relations

(615) 367-8283 / cmccall@genesco.com



Genesco Financial Contact

Sandra Harris, SVP Finance, Chief Financial Officer

(615) 367-7578 / SHarris2@genesco.com

Source: Genesco Inc.