Genesco kicked off its 100-year anniversary celebrations earlier this week in a major way.
On Wednesday, the Nashville-based footwear company’s board chair, president and chief executive officer Mimi Vaughn joined Genesco’s senior management team to ring the closing bell of the New York Stock Exchange (NYSE).
Along with its centennial anniversary, Wednesday’s event also marked Genesco’s 85th year as a listed NYSE company. The Journeys parent company is also the second longest listed company from Tennessee and the 68th longest listed company on the entire NYSE.
In its most recent earnings report, Genesco reaffirmed its outlook for fiscal year 2025 after it reported sales and earnings results that beat its expectations for the first quarter.
In the first quarter of fiscal 2025, the company reported that net sales decreased 5 percent year over year to $458 million, driven by store closures, a decline in store sales and a decline in wholesale sales.
Vaughn said in a statement at the time that the company delivered results that beat its expectations, despite “continued headwinds in the operating environment.” She noted that the Journeys business led the company’s results in Q1.
Genesco has continued to bolster the Journeys team and in July, named Stacy Doren to the role of executive vice president and chief marketing officer of the Journeys Group.
Her appointment follows a series of new executive hires as Journeys executes on its turnaround program and growth strategy. In January, Journeys hired former Foot Locker executive Chris Santaella as executive vice president and chief merchandising officer. And in November, Genesco brought in Foot Locker veteran Andy Gray as Journeys president.
In March, Vaughn highlighted key initiatives for its Journeys business during the company’s fourth quarter earnings call. According to the CEO, these plans – which include a mix of both strategic acceleration and expense management – were devised to place a sharper focus on a turnaround program and growth strategy.
Some of the key initiatives the company is introducing are new strategies to “meaningfully increase” product access and boost investment in key fashion athletic and casual brands. Others include developing plans for an updated store concept and evolving its all-access loyalty program.
