Genesco has announced the appointment of Sandra Harris as its new Chief Financial Officer (CFO). Harris, a highly experienced retail executive, has spent a decade at VF Corp., where she played a key role in shaping global business and financial strategies for a wide range of brands.
Mimi Vaughn, CEO of Genesco, praised Harris’s established track record, emphasizing her ability to drive strategic growth and create value within complex organizations. Vaughn added that Harris’s expertise in multi-channel and multi-brand consumer businesses will be crucial for Genesco as it addresses its current challenges.
Harris joins the company at a critical juncture, especially as Genesco grapples with issues in its divisions, particularly the Journeys brand. In fiscal 2024, Journeys closed 94 stores, and as of September, an additional 29 stores have been shut down this fiscal year. The company is contemplating the closure of up to 50 more stores by the end of the year.
While Journeys experienced a 4% increase in sales during the second quarter, this positive growth was overshadowed by a 9% decline in sales at Johnston & Murphy and a 13% drop at Genesco Brands. Despite the mixed results, Vaughn expressed optimism in Genesco’s September earnings report, stating that Journeys is gaining momentum and that the company is making strides in responding to the changing needs of its customers. However, she also recognized the unpredictable nature of the market environment, prompting a more cautious short-term outlook for Genesco’s other businesses.
Harris’s appointment comes amid a trend of CFO transitions among major retailers. Last month, Target appointed Jim Lee, a former executive at PepsiCo, as its new CFO. In August, Pacsun brought on Aina Konold, who was previously the CFO at BowFlex, while Sephora North America appointed Delphine Herve in September to succeed Christophe le Boterff, who is retiring in April.
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