Another Teen Retailer and Industry Customer Posts Banner Results
Journeys is the latest teen retailer and industry customer to report strong third quarter results, including a big bounce back in in-store sales.
Sales at Journeys rose 20% over 2020 and 7% over 2019. Journeys also posted record Q3 operating income. Journeys achieved those numbers with 27% less inventory compared to Q3 2019.
Back-to-school sales were strong across the board. Both casual and fashion athletic footwear styles sold well, and nine of the top 10 brands sold at Journeys recorded year-over-year growth. Sales of non-footwear goods, such as backpacks, grew 50% compared to the previous year when many schools were still remote.
Typically, sales at Journeys wane after the back-to-school rush, but this year, sales remained robust throughout October.
For UK-based Schuh, which is also owned by parent company Genesco, back-to-school also turned out great. Schuh sales increased 33% over last year and 29% over 2019.
At both Schuh and Journeys, shoppers returned to company stores during the quarter – a trend many other teen retailers have reported, including Tilly’s and Zumiez.
Company-wide at Genesco, in-store sales rose above pre-pandemic levels for the first time, increasing 30% over last year.
At the same time, digital sales remained strong, increasing 11% over 2020 and 79% over 2019.
For the year, the company, which also owns the Johnston & Murphy chain, is expecting topline growth of 9% to 11% vs. 2019.