Genesco to Close 100+ Journeys Stores as it Focuses on Off-Mall Locations
Retail TouchPoints
MAY 30, 2023
The company is looking to pivot Journeys to an off-mall strategy, with 13 locations out of a planned 25 already open. This was attributed to increased markdowns at Journeys offsetting an otherwise normalized promotional environment, which led to improved margins at the other businesses. “We Genesco’s gross margin was 47.3%
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