Genesco to Close 100+ Journeys Stores as it Focuses on Off-Mall Locations
Retail TouchPoints
MAY 30, 2023
This was attributed to increased markdowns at Journeys offsetting an otherwise normalized promotional environment, which led to improved margins at the other businesses. Inventories increased 17% year-over-year at these banners, but the increase was attributed to fueling rapid growth. Genesco’s gross margin was 47.3% in Q1 2023.
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