Good morning, everybody. Happy and pleased to welcome back Genesco, which has been a staple of the conference for a long time, and also welcome back CEO Mimi Vaughn, but also pleased to welcome for the first time Sandra Harris, who joined Genesco as CFO this past fall. Mimi is going to start with, or Mimi and Sandra are going to start with a few slides, and then we're going to transition into a fireside chat. So with that, I'll hand it over to Mimi, or Sandra, sorry.
Good morning, and thank you for having us at the conference today. As you saw from the video, Genesco is a portfolio company of leading footwear brands, which Mimi's going to talk about after I report our holiday results. We're pleased today to report that for the eight-week period into December 28, 2024, that Genesco's total comparable sales increased 10%, both with great performance in our stores at plus 6% and online plus 20%. Our Journeys business was up 14% with product assortment that our customers desired and with the right level of inventory to meet that demand, and we saw strong full-price selling through the period. Our Schuh business that's located in the U.K. and Ireland was in a highly promotional market, but we saw comp sales of plus 3%.
Our Johnston & Murphy business was down 1% following a really strong prior year holiday period that saw comps in excess of 11%. Traffic was down, but we are encouraged by our positive conversion and our increased selling prices in a market that has been down for the period. With this performance, we are reaffirming our full-year outlook of earnings per share in the range of $0.80-$1, which reflects this performance. The incentive compensation expense has been triggered by this performance and an acceleration of our optimization of our store fleet with 15 additional stores closed in the quarter, more than we said at the end of Q3, bringing our total store closures to 75 for the period. With that, I'll turn it over to Mimi.
Thank you. Thank you, Sandra. Thank you, Brendan, for having us. I'm going to talk a little bit more about our portfolio, and then everybody's pretty interested in what's happening at Journeys, so I'm going to spend quite some time talking about that, but we have strategically well-positioned concepts. It is the reason why when we have fashion cycles or economic cycles that we can adapt to what the consumer is interested in. We have a retail platform and a branded platform. We seek to be the destination for footwear for our consumer groups, and we serve small slices of the consumer market. We want to be top of mind. Our consumer has changed profoundly. Consumers have changed profoundly since the pandemic, both in terms of what they buy and how they shop, and so we have been evolving to meet those needs.
Our Schuh and our Journeys brands are the destination for youth and teen fashion footwear, and the cornerstone of our branded side is Johnston & Murphy, a 175-year-old brand that serves footwear and other needs for professional men. We have, as I said, significantly evolved all of our concepts with Johnston & Murphy and Schuh leading the pack. Right now, we are focused a lot on Journeys and evolving to emerge stronger on the other side. For those of you who know Journeys, it is. Many are interested in the progress that we're making. It's been our number one priority. Today's teen is, the way the consumer has evolved, is interested in expressing themselves in different ways. It all starts with a consumer from one day to the next. They are interested in a lot more wearing occasions and really interested in a more diversified footwear offering.
And footwear is a great enabler for teens to express themselves. The marketplace is quite segmented among athletic and casual, and there's no other retailer who serves both sides of it. And so Journeys is very well positioned. This is our opportunity to serve the multi-category, multi-branded needs of today's teens with the most relevant brands. We've done a lot to accelerate the Journeys business. We've put new leadership in. We have a new president, Andy Gray. We have a new head of product. We have a new head of marketing to augment and supplement the very strong team that we had in place already. The first phase of our Journeys work has been to think hard about the product and really tilt the assortment pretty significantly. And so you'll see that the plus 14 comp for Journeys was the result of that.
We are offering a much more diversified offering, and our merchants were super aggressive about chasing into product that they knew after a lull in interest in footwear on the part of our consumer that they knew would really resonate in back to school and holiday. And so that was the first phase of our overall strategic growth program, and I'm going to talk more now about where we're heading, because where we're heading is to take Journeys to a new and a different place than we have been before. And so it all starts with the white space in the market. I did talk about the consumer is really well served among athletic and casual, but nobody does both. And the male consumer is especially well served among the athletic and the city specialty folks.
And so our broader plan after doing a battery of research is to serve and to sharpen our focus on that female consumer. We think she's underserved in the market for footwear. She's really well served for apparel when you think about all of the apparel teen retailer providers, and Journeys is the answer to that teen girl on the other side of it. And so we are working with this unique positioning that's really style-led, and it's not sneakerhead. So a lot of sneakerhead providers out there, but we at Journeys are style-led and have got really strong support of our branded partners who are interested in serving this teen girl. To that end, we started with our consumer segmentation, and the message I'd like you to take away is that we're serving a broader consumer market.
We started on the left side serving our traditional Journeys consumer, which is a very important part. It's our heritage. It's an independent, style-led type of customer that is interested in self-expression. It's what gives Journeys our attitude. So we're keeping that consumer, but we're expanding our presence. If you go all the way over to the right side, you can see that we've got the Dynamic Explorer, and this is a group of teens that is interested in leading the way when it comes to fashion and when it comes to style. And in the middle is our Style Chaser, and that's the teen who wants to follow the pack and certainly be on trend, but isn't ready to step out there ahead of everyone else.
And so bottom line is the sharp point is on her, and the bottom line is that we're widening our overall approach to consumers and the consumers that we're serving. And so we're doing that with three key strategies around product, brand, and experience. And to start with overall product development and footwear leadership, we are building with our best-in-class footwear partners. We're a really important partner to our brands. We're typically number one or number two in terms of the on the casual side in terms of being an important partner for our brands. We are leaning more into athletic. Our new leadership in Journeys brings athletic expertise in a way that augments what we already have today.
What we are doing is really leaning into leadership around footwear on the casual side, on the athletic side, and on the canvas side, which is the most recent style era that we have come out of. Much more volume and depth of styles is what drove our comp, and we're going to build upon that. The marketplace leadership for women's is what will be most distinctive for us, and we are chasing into more premium product, and we saw the results of that with higher ASPs over the course of the holiday. In addition to that, we're investing in our Journeys brand. Typically, we have promoted the brands that we sell, but Journeys as the destination for this style-led teen is the message that we're getting out there.
Absolutely, Journeys has always been an inclusive, positive environment, and today's teen absolutely needs that inclusive, positive environment today. Promotion of Journeys as a leading retail brand, that messaging around our positioning and the broader teen audience is a really important part of this next wave of work. We've got a new creative agency. You'll see some really phenomenal things if you've been in our stores in terms of promoting Journeys as a brand. We're increasing our investment in brand marketing. We are letting consumers know about this brand positioning through digital, through social. Social is a super important part of this, and to be the destination for this market that we are working to serve. The last part is elevating our consumer experience. It starts overall with a better experience on our website.
It involves leaning into our overall program, our All Access loyalty program, which has 4 million members after about a year, and then a really exciting part of this, and I'll show you a video in a minute and give Brendan some time to ask us some questions, is around an enhanced store experience, and the store experience is to be able to represent, be a visual representation of the direction that we're taking, and the video says a lot in terms of what we're doing with the store look, but we're excited about this new store concept. We've got 10 open, five more underway in the near term, and we'll have a chance to chat more.
Awesome. Thanks for that. So Journeys or Genesco's been coming here for over 20 years. I think you've been coming nearly that long. Not to date you. You've shared some of the stuff you're doing at Journeys, but how would you compare to what you're doing today to what you were doing five years ago, maybe before the pandemic, and then maybe 10 years? How has Journeys changed over that last 10, 15 years?
Yeah. So Journeys has always represented the place to go and discover footwear and to be very on top of whatever the latest trends are. And we've gone through waves of surf and skate and preppy and whatever's happening on the apparel side where the complement on the footwear side. So we've always been known as the expert for selling brands and whatever is relevant. What's really different today and where we're heading in the future are three things. One is this expanded focus on the consumer, the sharp point on the girl, and then the selling of more premium product.
And so as we are thinking about the opportunity for Journeys going forward, it is to build on the strong heritage and the base that we've had, but then to open the aperture of the consumer that we're serving and really think hard about how do we serve her with more premium product.
You've lived through it. Everybody here has probably lived through the fashion cycles that are inherent in this business. They can be painful for a period of time. You emerge stronger. Is the work you're doing on the product side, does that help insulate the business a little bit more maybe from these fashion cycles that, again, pop up every few years?
Yeah, so fashion cycles are part of our business, and we've got more insight and intelligence on fashion cycles than anybody else in the retail world. What has happened in the most recent period is that during the pandemic, our consumer, our teen was least affected in terms of consumer groups, so they came out and they shopped a lot, and a confluence of factors is that they shopped a lot, they bought a lot, and there was a slowing of the innovation cycle on the part of us and on the part of our brands, and then there was a lot of promotional activity when there was a glut of inventory out there in the market, so we've come through a period of time that is pretty unusual in terms of our consumer having no interest in footwear, and that's a very unusual thing to have happened.
We move up and down in terms of the fashion cycles. Our merchants navigate those. We're constantly testing. We've got our ear to the ground. We're plugged into what our consumer is doing all the time, and so we've come through a period of time when there was just no interest in fashion, and with the inflationary environment, consumers having to make a choice about what they're buying and what they're not buying, and so after really absorbing a lot of footwear, they just took a pause, and around back to school, good timing in terms of how we were flowing our product, we saw a real pickup in interest in footwear, in part motivated because teens are interested in different apparel bottoms and just interested in this more diversified assortment, and so with a more diversified assortment, with a broader teen audience, certainly more diversification will help over time.
Navigating the ins and outs of fashion cycles is what we're good at and what we'll continue to do.
Great. You showed a slide, the Journeys Concept 4.0, showed another video, but maybe dig a little deeper. What would the consumer notice? What's different when they walk into the store this time around or with the remodel?
Yeah. I mean, it's totally different, and we don't believe in store remodels just for the sake of remodels. Certainly, you've got to keep your stores looking good, but this is to give a visible sign to the consumer about what's different at Journeys. And if you walk in, you're going to see that it's very shoppable. It's easy to navigate. There is amazing storytelling in our store, in our new prototype in terms of just the brand stories that we're able to tell. So a fantastic environment, a digital environment highlighting, showcasing the overall brands, but still with the Journeys overall attitude. And so we've got a lot more flexibility in the store design, and it allows us to extract an even higher price point.
So our ASPs are up overall, but in this better, more upscale, more elevated environment, a place to be able to sell more premium product is what we're especially excited about.
What's the schedule for remodels going forward? You touched on a handful of to date. What is next?
Yeah. The first wave is 15, and we started the first one in October, and there are a handful around the country which are great tests. We have an opportunity to really accelerate that. We are on shorter lease life. It's been a stated strategy of ours. So we've got a couple hundred renewals coming up in the year. And so as we're getting the results, which have exceeded even the comp that we had in the quarter, and as we understand where we sit, we have an opportunity to really rapidly accelerate these remodels. And it will be the next wave of growth. We've gotten a lot of growth with product, but the next wave of growth will come with some of these remodels.
Great, and shifting gears a bit, you touched on you operate a very similar concept to Journeys over in the U.K., Schuh. The results at Schuh have not been as robust at Journeys. Sandra talked about the promotional environment in the U.K., but maybe just give the audience a little bit more insight into what's going on in the U.K. and what's really driving Schuh's recent performance and the delta between Journeys and Schuh.
Sure. So Schuh coming out of the pandemic, we've had a really robust run at Schuh. We took advantage of the opportunities of the disruption in the marketplace and grew our market share really significantly. So we moved up three places in the overall market for Schuh. And we did that through a combination of access to better brands and really recentering around Schuh's purpose. The U.K. market has been really challenging, higher inflation than even the U.S. The new government is putting in some measures that are pretty onerous in terms of businesses and people. And so the overall retail market has been pretty challenged. We have held our share at Schuh, but we're going to be aiming to gain share at Schuh.
So the next wave of activity and opportunity is very similar to what we are doing at Journeys, which is renewed customer segmentation and interestingly independent customer research and segmentation yielded much of the same sets of opportunities that we saw in the United States. And so an opportunity to sell to that female customer a sharper point on the female customer for sure. This renewed segmentation, a broader segmentation in the U.K., we believe will serve us well. We have a new head of marketing, relatively new over the last year, a new head of digital. And our digital penetration in the U.K. is at about 40% and was the real growth story over the holiday. And so leaning into digital, really leading with marketing and establishing Schuh as the destination for the better assortment of brands.
We've got line of sight into new brands and new franchises that we will be bringing in in spring and in fall. And so very much some of the same sets of initiatives at Schuh that we have in place at Journeys. And we do expect that as the market conditions improve, we will continue to chase share and continue to see improvement in that business.
Great. When Genesco first came here 20 plus years ago, I'm sure there was a fair amount of people in the audience that were wearing Johnston & Murphy dress shoes. The dress code at the conference has gotten more casual and life has gotten more casual. So how has J&M or how have you evolved J&M under that kind of trend towards casualization? What is the brand positioning today versus what it was five and 10 years ago? And kind of what's the strategy with that brand going forward?
Sure. So Johnston & Murphy is a 175-year-old brand. It's built off the back of selling dress footwear, as you said, Brendan, and hopefully everybody, whether you're wearing dress shoes or not dress shoes, that you're wearing Johnston & Murphy shoes today. But this was the biggest pivot out of the pandemic where that customer just was not shopping, not going out, not doing anything. And so we went back to the drawing board with this business, and it started with product. What does the consumer want for today's lifestyle? And it's a much more casual assortment. And so off the heritage that we have of dressing successful professional people, we reinvented, reimagined our approach to product. And you'll see it in our line today that we've been gaining share on the casual side and on the casual athletic side.
We also said there's a real opportunity to grow a lifestyle brand, and so we have built other categories, and outerwear and blazers were a star of our holiday performance, and so we've got a very loyal customer. We've got a customer that's interested in buying lots of different categories from us, and this is all grounded in technology and a more technical offering. We've got proprietary comfort systems and technology that really makes the footwear great, so if you haven't tried it, please do go out and try it, and so what we realize is that we've got a great assortment. We've done a lot of work on the assortment, that the opportunity is around awareness. As much as we think that everybody knows what Johnston & Murphy is, we've got about 35% brand awareness.
So an opportunity to spend on the brand marketing, to drive the awareness, to really let people, let customers know about what Johnston & Murphy's offering is today.
Great. Well, we have a little less than two minutes. I'll just end with Sandra, you went through the holiday results, really strong comps, double digits. You have talked historically about the leverage in the model with the heavy fixed costs, the upside you get with comps, recognizing that your performance triggered some bonus and you're still in the $80 range. As we think about next year, what are some of the puts and takes and what is the opportunity there to realize that leverage on positive comps?
Yeah, so I'll just talk a bit about just the growth opportunity and also just the leverage that we have in our model that Sandra referenced, but this has been a big year for building back incentive compensation because we had none last year, and so our flow- through will certainly be better going forward, but I would just highlight that our overall strategies that I've been talking about are to number one, make our stores more productive, and so our most productive stores, even more productive is what all of these initiatives are centered around, and stores are a super important part of what we do. Digital is an opportunity. It's now 20% of our business, growing digital at 10%, even gives us a couple of points of growth, and so the combination of store plus digital is a real opportunity.
We've closed some stores, which has been fine in terms of making the fleet more productive, and we've taken a lot of cost out. And so with all of that, we've got a lot of leverage, a lot of opportunity for upside with more sales. We've bought back 50% of our shares over the last five or six years. And so with increased revenue, with the costs that we've taken out, we have an opportunity for some pretty significant flow through going forward.
Great. Well, we'll look forward to hearing more when you report Q4 results in March.
Great. Thank you.
All right. Thanks very much.
Thank you and thank you for having us at the conference. For the eight-week period into December 28th, 2024, Genesco's total comparable sales increased 10%, both with great performance in our stores at plus 6% and online plus 20%. Our Journeys business was up 14% with product assortment that our customers desired and with the right level of inventory to meet that demand, and we saw strong full price selling through the period. Our Schuh business that's located in the U.K. and Ireland was in a highly promotional market, but we saw comp sales of plus 3%. Our Johnston & Murphy business was down 1% following a really strong prior year holiday period that saw comps in excess of 11%. Traffic was down, but we are encouraged by our positive conversion and our increased selling prices in a market that has been down for the period.
With this performance, we are reaffirming our full year outlook of earnings per share in the range of $0.80-$1.00, which reflects this performance. The incentive compensation expense has been triggered by this performance and an acceleration of our optimization of our store fleet with 15 additional stores closed in the quarter, more than we said at the end of Q3, bringing our total store closures to 75 for the period. With that, I'll turn it over to Mimi.
Thank you. Thank you, Sandra. Thank you, Brendan, for having us. I'm going to talk a little bit more about our portfolio, and then everybody's pretty interested in what's happening at Journeys. So I'm going to spend quite some time talking about that. But we have strategically well-positioned concepts. It is the reason why when we have fashion cycles or economic cycles that we can adapt to what the consumer is interested in. We have a retail platform and a branded platform. We seek to be the destination for footwear for our consumer groups. And we serve small slices of the consumer market. We want to be top of mind. Our consumer has changed profoundly. Consumers have changed profoundly since the pandemic, both in terms of what they buy and how they shop. And so we have been evolving to meet those needs.
Our Schuh and our Journeys brands are the destination for youth and teen fashion footwear. The cornerstone of our branded side is Johnston & Murphy, a 175-year-old brand that serves footwear and other needs for professional men. We have, as I said, significantly evolved all of our concepts with Johnston & Murphy and Schuh leading the pack. Right now, we are focused a lot on Journeys and evolving to emerge stronger on the other side. For those of you who know Journeys, it is. Many are interested in the progress that we're making. It's been our number one priority. Today's teen, the way the consumer has evolved, is interested in expressing themselves in different ways. It all starts with a consumer from one day to the next. They are interested in a lot more wearing occasions and really interested in a more diversified footwear offering.
Footwear is a great enabler for teens to express themselves. The marketplace is quite segmented among athletic and casual, and there's no other retailer who serves both sides of it. So Journeys is very well-positioned. This is our opportunity to serve the multi-category, multi-branded needs of today's teens with the most relevant brands. We've done a lot to accelerate the Journeys business. We've put new leadership in. We have a new president, Andy Gray. We have a new head of product. We have a new head of marketing to augment and supplement the very strong team that we had in place already. The first phase of our Journeys work has been to think hard about the product and really tilt the assortment pretty significantly. So you'll see that the plus 14 comp for Journeys was the result of that.
We are offering a much more diversified offering, and our merchants were super aggressive about chasing into product that they knew after a lull in interest in footwear on the part of our consumer that they knew would really resonate in back to school and holiday. And so that was the first phase of our overall strategic growth program. And I'm going to talk more now about where we're heading because where we're heading is to take Journeys to a new and a different place than we have been before. And so it all starts with the white space in the market. I did talk about the consumer is really well-served among athletic and casual, but nobody does both. And the male consumer is especially well-served among the athletic and the city specialty folks.
And so our broader plan after doing a battery of research is to serve and to sharpen our focus on that female consumer. We think she's underserved in the market for footwear. She's really well-served for apparel when you think about all of the apparel teen retailer providers. And Journeys is the answer to that teen girl on the other side of it. And so we are working with this unique positioning that's really style-led, and it's not sneakerhead. So a lot of sneakerhead providers out there, but we at Journeys are style-led and have got really strong support of our branded partners who are interested in serving this teen girl. To that end, we started with our consumer segmentation. And the message I'd like you to take away is that we're serving a broader consumer market.
We started on the left side serving our traditional Journeys consumer, which is a very important part. It's our heritage. It's an independent style-led type of customer that is interested in self-expression. It's what gives Journeys our attitude. So we're keeping that consumer, but we're expanding our presence. If you go all the way over to the right side, you can see that we've got the dynamic explorer. And this is a group of teens that is interested in leading the way when it comes to fashion and when it comes to style. And in the middle is our style chaser. And that's the teen who wants to follow the pack and certainly be on trend, but isn't ready to step out there ahead of everyone else. And so bottom line is a sharp point is on her.
And the bottom line is that we're widening our overall approach to consumers and the consumers that we're serving. And so we're doing that with three key strategies around product brand and experience. And to start with overall product development and footwear leadership, we are building with our best-in-class footwear partners. We're a really important partner to our brands. We're typically number one or number two in terms of on the casual side in terms of being an important partner for our brands. We are leaning more into athletic. Our new leadership in Journeys brings athletic expertise in a way that augments what we already have today. And what we are doing is really leaning into leadership and leadership around footwear on the casual side, on the athletic side, and on the canvas side, which is the most recent style era that we have come out of.
And so much more volume and depth of styles is what drove our comp, and we're going to build upon that. The marketplace leadership for women's is what will be most distinctive for us. And we are chasing into more premium product. And we saw the results of that with higher ASPs over the course of the holiday. In addition to that, we're investing in our Journeys brand. Typically, we have promoted the brands that we sell, but Journeys as the destination for this style-led teen is what our message is that we're getting out there. Absolutely. Journeys has always been an inclusive, positive environment. And today's teen absolutely needs that inclusive, positive environment today. And promotion of Journeys as a leading retail brand, that messaging around our positioning and the broader teen audience is a really important part of this next wave of work.
We've got a new creative agency. You'll see some really phenomenal things if you've been in our stores in terms of promoting Journeys as a brand. We're increasing our investment in brand marketing. We are letting consumers know about this brand positioning through digital, through social. Social is a super important part of this, and to be the destination for this market that we are working to serve, and the last part is elevating our consumer experience. It starts overall with a better experience on our website. It involves leaning into our overall program, our All Access Loyalty Program, which has four million members after about a year, and then a really exciting part of this, and I'll show you a video in a minute and give Brendan some time to ask us some questions, is around an enhanced store experience.
And the store experience is to be able to represent, be a visual representation of the direction that we're taking. And the video says a lot in terms of what we're doing with the store look. But we're excited about this new store concept. We've got 10 open, five more underway in the near term, and we'll have a chance to chat more.
Awesome. Thanks for that. So Journeys or Genesco has been coming here for over 20 years. I think you've been coming nearly that long. Not to date you. You've shared some of the stuff you're doing at Journeys, but how would you compare to what you're doing today to what you were doing five years ago, maybe before the pandemic, and then maybe 10 years? How has Journeys changed over that last 10, 15 years?
Yeah. So Journeys has always represented the place to go and discover footwear and to be very on top of whatever the latest trends are. And we've gone through waves of surf and skate and preppy and whatever's happening on the apparel side where the complement on the footwear side. So we've always been known as the expert for selling brands and whatever is relevant. What's really different today and where we're heading in the future are three things. One is this expanded focus on the consumer, the sharp point on the girl, and then the selling of more premium product.
And so as we are thinking about the opportunity for Journeys going forward, it is to build on the strong heritage and the base that we've had, but then to open the aperture of the consumer that we're serving and really think hard about how do we serve her with more premium product.
And you've lived through it. Everybody here has probably lived through the fashion cycles that are inherent in this business. They can be painful for a period of time. You emerge stronger. Is the work you're doing on the product side, does that help insulate the business a little bit more maybe from these fashion cycles that, again, pop up every few years?
Yeah. So fashion cycles are part of our business, and we've got more insight and intelligence on fashion cycles than anybody else in the retail world. What has happened in the most recent period is that during the pandemic, our consumer, our teen was least affected in terms of consumer groups, so they came out and they shopped a lot, and a confluence of factors is that they shopped a lot, they bought a lot, and there was a slowing of the innovation cycle on the part of us and on the part of our brands, and then there was a lot of promotional activity when there was a glut of inventory out there in the market, so we've come through a period of time that is pretty unusual in terms of our consumer having no interest in footwear, and that's a very unusual thing to have happened.
We move up and down in terms of the fashion cycles. Our merchants navigate those. We're constantly testing. We've got our ear to the ground. We're plugged into what our consumer is doing all the time, and so we've come through a period of time when there was just no interest in fashion, and with the inflationary environment, consumers having to make a choice about what they're buying and what they're not buying, and so after really absorbing a lot of footwear, they just took a pause, and around back to school, good timing in terms of how we were flowing our product, we saw a real pickup in interest in footwear, in part motivated because teens are interested in different apparel bottoms and just interested in this more diversified assortment, and so with a more diversified assortment, with a broader teen audience, certainly more diversification will help over time.
Navigating the ins and outs of fashion cycles is what we're good at and what we'll continue to do.
Great. You showed a slide, the Journeys Concept 4.0, showed another video, but maybe dig a little deeper. What would the consumer notice? What's different when they walk into the store this time around or with the remodel?
Yeah. I mean, it's totally different. And we don't believe in store remodels just for the sake of remodels. Certainly, you've got to keep your stores looking good. But this is to give a visible sign to the consumer about what's different at Journeys. And if you walk in, you're going to see that it's very shoppable. It's easy to navigate. There is amazing storytelling in our store, in our new prototype in terms of just the brand stories that we're able to tell. So a fantastic environment, a digital environment highlighting, showcasing the overall brands, but still with the Journeys overall attitude. And so we've got a lot more flexibility in the store design, and it allows us to extract an even higher price point.
So our ASPs are up overall, but in this better, more upscale, more elevated environment, a place to be able to sell more premium product is what we're especially excited about.
What's the schedule for remodels going forward? You touched on a handful to date. What is next?
Yeah. The first wave is 15, and we started the first one in October. And there are a handful around the country, which are great tests. We have an opportunity to really accelerate that. We are on shorter lease life. It's been a stated strategy of ours. So we've got a couple hundred renewals coming up in the year. And so as we're getting the results, which have exceeded even the comp that we had in the quarter, and as we understand where we sit, we have an opportunity to really rapidly accelerate these remodels. And it will be the next wave of growth. We've gotten a lot of growth with product, but the next wave of growth will come with some of these remodels.
Great. And shifting gears a bit, you touched on you operate a very similar concept to Journeys over in the U.K., Schuh. The results at Schuh have not been as robust at Journeys. You talked about the Sandra talked about the promotional environment in the U.K., but maybe just give the audience a little bit more insight into what's going on in the U.K. and what's really driving Schuh's recent performance and the delta between Journeys and Schuh.
Sure. So Schuh coming out of the pandemic, we've had a really robust run at Schuh. We took advantage of the opportunities of the disruption in the marketplace and grew our market share really significantly. So we moved up three places in the overall market for Schuh. And we did that through a combination of access to better brands and really recentering around Schuh's purpose. The U.K. market has been really challenging, higher inflation than even the U.S. The new government is putting in some measures that are pretty onerous in terms of businesses and people. And so the overall retail market has been pretty challenged. We have held our share at Schuh, but we're going to be aiming to gain share at Schuh.
The next wave of activity and opportunity is very similar to what we are doing at Journeys, which is renewed customer segmentation. Interestingly, independent customer research and segmentation yielded much of the same sets of opportunities that we saw in the United States. And so an opportunity to sell to that female customer, a sharper point on the female customer for sure. This renewed segmentation, a broader segmentation in the UK, we believe will serve us well. We have a new head of marketing, relatively new over the last year, a new head of digital. And our digital penetration in the UK is at about 40% and was the real growth story over the holiday. And so leaning into digital, really leading with marketing and establishing Schuh as the destination for the better assortment of brands.
We've got line of sight into new brands and new franchises that we will be bringing in in spring and in fall. And so very much some of the same sets of initiatives at Schuh that we have in place at Journeys. And we do expect that as the market conditions improve, we will continue to chase share and continue to see improvement in that business.
Great. When Genesco first came here 20 plus years ago, I'm sure there was a fair amount of people in the audience that were wearing Johnston & Murphy dress shoes. The dress code at the conference has gotten more casual and life has gotten more casual. So how has J&M or how have you evolved J&M under that kind of trend towards casualization? What is the brand positioning today versus what it was five and 10 years ago? And kind of what's the strategy with that brand going forward?
Sure. So Johnston & Murphy is a 175-year-old brand. It's built off the back of selling dress footwear, as you said, Brendan, and hopefully everybody, whether you're wearing dress shoes or not dress shoes, that you're wearing Johnston & Murphy shoes today. But this was the biggest pivot out of the pandemic where that customer just was not shopping, not going out, not doing anything. And so we went back to the drawing board with this business. And it started with product. What does the consumer want for today's lifestyle? And it's a much more casual assortment. And so off the heritage that we have of dressing successful professional people, we reinvented, reimagined our approach to product. And you'll see it in our line today that we've been gaining share on the casual side and on the casual athletic side.
We also said there's a real opportunity to grow a lifestyle brand. And so we have built other categories. And outerwear and blazers were a star of our holiday performance. And so we've got a very loyal customer. We've got a customer that's interested in buying lots of different categories from us. And this is all grounded in technology and a more technical offering. We've got proprietary comfort systems and technology that really makes the footwear great. So if you haven't tried it, please do go out and try it. And so what we realize is that we've got a great assortment. We've done a lot of work on the assortment that the opportunity is around awareness. As much as we think that everybody knows what Johnston & Murphy is, we've got about 35% brand awareness.
An opportunity to spend on the brand marketing, to drive the awareness, to really let people, let customers know about what Johnston & Murphy's offering is today.
Great. Well, we have a little less than two minutes. I'll just end with Sandra, you went through the holiday results, really strong comps, double digits. You have talked historically about the leverage in the model with the heavy fixed costs, the upside you get with comps, recognizing that your performance triggered some bonus and you're still in that $80 range. As we think about next year, what are some of the puts and takes and what is the opportunity there to realize that leverage on positive comps?
Yeah. So I'll just talk a bit about just the growth opportunity and also just the leverage that we have in our model that Sandra referenced. But this has been a big year for building back incentive compensation because we had none last year. And so our flow through will certainly be better going forward. But I would just highlight that our overall strategies that I've been talking about are to number one, make our stores more productive. And so our most productive stores, even more productive, is what all of these initiatives are centered around. And stores are a super important part of what we do. Digital is an opportunity. It's now 20% of our business, growing digital at 10%, even gives us a couple of points of growth. And so the combination of store plus digital is a real opportunity.
We've closed some stores, which has been fine in terms of making the fleet more productive, and we've taken a lot of cost out. And so with all of that, we've got a lot of leverage, a lot of opportunity for upside with more sales. We've bought back 50% of our shares over the last five or six years. And so with increased revenue, with the costs that we've taken out, we have an opportunity for some pretty significant flow through going forward.
Great. Well, we'll look forward to hearing more when you report Q4 results in March.
Great. Thank you.
All right. Thanks very much.