Genesco Inc. (NYSE:GCO) Q3 2020 Earnings Conference Call - Final Transcript

Dec 06, 2019 • 08:30 am ET

Previous

Genesco Inc. (NYSE:GCO) Q3 2020 Earnings Conference Call - Final Transcript

Share
Close

Loading Event

Loading Transcript

Q & A
Operator
Operator

[Operator Instructions] We'll take our first question from Janine Stichter with Jefferies. Please go ahead.

Analyst
Janine Stichter

Hi, good morning and congrats on the great result.

Executive
Robert J. Dennis

Thanks.

Executive
Mimi E. Vaughn

Thank you.

Analyst
Janine Stichter

Question for Mimi. You went through a lot of different initiatives that seem like they have come more into focus since you've sold Lids and to more fully focus, footwear business. Can you kind of bucket, which ones do you think are really the most needle moving and it seems like you're already seeing some benefit from some of these initiatives. So just give us some perspective on how we should think about what are the most meaningful drivers of how you can impact the business now that you are squarely focused on footwear?

Executive
Mimi E. Vaughn

Sure, Janine. We have got really bridge set of synergies and platforms when we look across the size of our business. We like the businesses that we're in. We like the platform that combines both operating footwear, retail businesses and owning footwear brands and there is really a lot of synergy across this platform even between the retail side and the branded side of our businesses. And these synergies come in a lot to form the product and vendor synergies that we've been capitalizing on this year and it is platforms that we can leverage, and I think some of the things that we are most excited about this year are really are digital initiatives. We have had a chance to double down on our focus on digital. We have been executing across the platforms that we have updating our websites, really giving the opportunity for our customers to have a better experience online and that has paid really nice dividends.

Analyst
Janine Stichter

Great, that's helpful. Thank you. And then just on Journeys, it sounds like the strength you're seeing there is pretty broad, but can you give some perspective just maybe by category, what you're seeing boots first, casual versus athletic and how we should think about the fourth quarter performance?

Executive
Robert J. Dennis

This is Bob. I'll start and hand it to Mimi. As you know, we're very sensitive about giving too much color on our current trend lines for extended reasons. The big news on Journeys, I think is that it is broad-based and so coming into the holiday we were benefiting from the fact that we can continue to see customers buy products for the currencies and aware now kind of mentality and sandals has long run, and that was probably aided by the weather. As we've gone into this -- we've gone through Back to School and into this holiday season, we're broadly is what we're seeing a lot of activity in boots. The athletic sector is strong, we have some very strong casual brands. And so I think that -- there's always puts and takes and so things are going up and going down, but we're overall very pleased with the assortment.

Executive
Mel Tucker

Yeah, I think I would just back of what Bob said is that we are nicely diversified