Excluding the 53rd week of the year, sales would have fallen by 4% year-on-year. The company saw sales for the full year decline by 8% for Journeys and 9% for Genesco Brands, while Schuh had growth of 11% and Johnston & Murphy was up by 8%.

In the fourth quarter of fiscal 2024, Genesco reported that net sales were up by 2% to US$739 million. Excluding the 14th week, sales would have decreased by 2% year-on-year.

The period saw a sales increase of 6% at Schuh and 9% at Johnston & Murphy, while Genesco Brands were up by 24% and Journeys declined by 2%.

The group closed 94 Journeys stores in the fiscal year and is targeting up to 50 more closures in the new fiscal year.

Looking forward to fiscal 2025, Genesco expects total sales to fall by 2-3% year-on-year, or 1-2% excluding the 53rd week in fiscal 2024.

CEO Mimi E. Vaughn said: “Our Fiscal 2024 results reflect the significant shift we’ve seen in our Journeys consumer’s shopping behaviour. The year began with a very challenging start, and we reacted quickly to implement strategies that drove sequential improvement in Journeys comp every quarter of the year.

“Although the holiday season started off positively, consumers subsequently shopped almost exclusively for key footwear items with a notable shift away from boots, putting more pressure on our core product assortment than we anticipated at the beginning of Q4. At the same time, we delivered another year of record sales for Schuh and Johnston & Murphy.”