The decline was reportedly driven by a drop in sales of 8% for Journeys and 22% (or US$8 million) at Genesco Brands.

Meanwhile, Schuh had growth of 13% and Johnston & Murphy was up by 2%. The former notably had record quarterly sales in the period on a constant currency basis, with growth of 5%.

E-commerce sales represented 21% of the group’s retail sales for the quarter, up from 18% in the same period last year.

The third quarter gross margin was 48.1%, down by 60 basis points year-on-year from 48.7%.

As part of cost savings, Genesco continues to close stores and is on track to close around 100 Journeys stores in fiscal 2024, anticipating up to US$40 million in savings by the end of fiscal 2025.

Looking forward, the company expects sales to be down 1-2% year-on-year in the full financial year.

Genesco CEO Mimi E. Vaughn said: “Looking ahead, I have confidence that our strategic initiatives and specific efforts to elevate Journeys in the marketplace will help us continue to drive progress in the near term while positioning us even more strongly to create value for the longer term.”