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Dive Brief:
- Genesco announced Tuesday that Sandra Harris has been named CFO and senior vice president of finance, effective Monday, per a company press release.
- Harris will report directly to Mimi Vaughn, Genesco’s CEO, president and board chair. She will oversee the company’s accounting, financial planning and analysis, investor relations, treasury, procurement and tax functions.
- Harris succeeds Thomas George, who is retiring on Dec. 12. Harris most recently was CFO for Artisan Design Group and before that CFO and COO for Tupperware Brands. She also spent close to 10 years with VF Corporation, including as CFO for direct-to-consumer, global supply chain and shared services.
Dive Insight:
Genesco has tapped a seasoned retail veteran to take on the chief finance role. In her decade at VF Corp., Harris drove global business and financial strategies across the company’s portfolio of brands.
“Sandra is a proven executive leader with a consistent record of driving strategic growth and value across complex organizations,” Vaughn said in a statement. “She brings invaluable expertise from numerous multi-channel, multi-brand consumer businesses.”
Harris joins Genesco as the company is experiencing challenges within its divisions, most notably Journeys, which closed 94 stores in fiscal 2024. As of September, the company closed an additional 29 stores in the current fiscal year and is considering closing up to 50 stores this fiscal year.
Journeys sales picked up during Q2, growing 4%. That increase was partially offset by a decrease of 9% at sister brand Johnston & Murphy and a 13% decrease at Genesco Brands.
In its September earnings report, Vaughn said, “I am pleased with the momentum building at Journeys and the progress we’re making to meet the evolving needs of our consumers. That said, the operating environment remains choppy, and our outlook reflects this, as well as a more conservative near-term view for our other businesses.”
Harris’ appointment at Genesco also comes amid CFO changes at a range of retailers. Target last month named PepsiCo executive Jim Lee to the CFO position. Pacsun in August brought on former BowFlex CFO Aina Konold. And Sephora North America tapped Delphine Herve in September to replace Christophe le Boterff, who is set to retire as CFO in April.
via https://www.aiupnow.com
Howard Ruben, Khareem Sudlow
