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

Dec 06, 2019 • 08:30 am ET


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


Loading Event

Loading Transcript


Good day everyone and welcome to the Genesco Third Quarter Fiscal 2020 Conference Call. Just a reminder, today's call is being recorded. I will now turn the call over to Dave Slater, Vice President of FP&A and Investor Relations. Please go ahead, sir.

David Slater

Good morning everyone and thank you for joining us to discuss our third quarter 2020 results and our full year fiscal 2020 outlook. With me on the call today are Bob Dennis, Genesco's Chairman, President and Chief Executive Officer; Mimi Vaughn, our Chief Operating Officer; and Mel Tucker, our Chief Financial Officer.

Participants on the call expect to make forward-looking statements. These statements reflect the participants' expectations as of today, but actual results could be different. Genesco refers you to this morning's earnings release and the Company's SEC filings, including the most recent 10-K filing for some of the factors that could cause differences from the expectations reflected in the forward-looking statements made during the call today.

Participants also expect to refer to certain adjusted financial measures during the call. All non-GAAP financial measures referred to in the prepared remarks are reconciled to their GAAP counterparts in the attachments to this morning's press release and in the schedules available on the Company's homepage under Investor Relations in the Quarterly Earnings section. I want to remind everyone we have posted a presentation summarizing our results and guidance that is accessible on our website. As another reminder we filed an 8-K in connection with our Q1 earnings release that contains adjusted non-GAAP fiscal '19 results by quarter for last year restated to reflect the sale of Lids Sports Group as if we never owned the business per GAAP requirements. You can find this on our website as well.

Now I'd like to turn it over to Bob.

Robert J. Dennis

Thanks, Dave. As you saw from our earnings release issued earlier this morning, we delivered strong third quarter results and increased our full-year guidance. Before we get into a discussion of our recent performance and increase outlook, I want to take a few moments to touch on the leadership transition we announced last month. I couldn't be more pleased with the Board's decision to appoint Mimi as my successor as President and CEO.

Since joining Genesco over 16 years ago, Mimi has excelled in each of her leadership roles including as Head of Corporate Strategy, Head of Shared Services, Chief Financial Officer, and most recently Chief Operating Officer. For selection as the 12th President and CEO in Genesco's 95-year history is a further step in our succession planning process, which began several years ago. As we outlined in the November 4 press release, Mimi will assume her new role on February 2, 2020 the first day of our new fiscal year.

On top of this Mimi was elected to the Company's Board of Directors effectively on October 30th. Both appointments are incredibly well deserved. I look forward to supporting Mimi and the entire management team in my role as Executive Chairman as we