Genesco Appoints New CFO Amid Store Closures and Mixed Sales Performance

Genesco has appointed Sandra Harris, a seasoned retail executive, as its new Chief Financial Officer. Harris brings a wealth of experience from her decade at VF Corp., where she was instrumental in driving global business and financial strategies across a diverse portfolio of brands.

Genesco CEO Mimi Vaughn highlighted Harris’ track record, stating that she is a proven leader with a consistent ability to drive strategic growth and create value within complex organizations. Vaughn noted that Harris’ expertise across multi-channel, multi-brand consumer businesses would be invaluable as Genesco navigates its current challenges.

Harris joins the company at a pivotal time, particularly as Genesco faces difficulties within its divisions, most notably its Journeys brand. In fiscal 2024, Journeys closed 94 stores, and as of September, another 29 stores had been shuttered in the current fiscal year. The company is considering closing up to 50 more stores by the year’s end.

While Journeys saw a 4% uptick in sales during Q2, that growth was offset by a 9% sales decline at Johnston & Murphy and a 13% decrease at Genesco Brands. Despite the mixed performance, Vaughn expressed optimism in Genesco’s September earnings report, noting that Journeys’ momentum was building and that the company was making progress in adapting to the evolving needs of its consumers. However, she also acknowledged the unpredictability of the operating environment, which has led to a more conservative short-term outlook for Genesco’s other businesses.

Harris’s appointment comes as several major retailers are undergoing CFO transitions. Last month, Target named Jim Lee, a former PepsiCo executive, as its new CFO. In August, Pacsun hired Aina Konold, previously BowFlex’s CFO, and in September, Sephora North America appointed Delphine Herve to succeed Christophe le Boterff, who is set to retire in April.

Have you read?
What Business Leaders Can Learn from Top Sporting Event Athletes.
African countries with the highest number of internally displaced persons (IDPs)
Revealed: Countries With the Largest Forex Reserves.
Eric Spofford Is Turning People’s Lives Around as a Business Athlete.
Countries buying the most Black Hawk helicopters.