Once upon a time, malls were the ultimate sanctuary for American teenagers. They weren’t just places to shop, they were also spaces where you could get your first part-time job, go out on a date, hang out with friends, watch a movie, and choose your fashion identity.
Today, the scenario is drastically different, though it is safe to say that Americans haven’t fallen out of love with malls. In fact, mall traffic in April 2026 increased year-over-year across all formats, according to data from Placer.ai.
Despite the increase in traffic, the industry data also reveal that consumers are making more frequent, but shorter and more mission-driven visits. Then, there’s a huge visitor gap between tiers, with smaller malls losing anchor retailers and the biggest going strong.
Over the past few years, malls have undergone another huge transformation, becoming experiential playgrounds. Mall owners started converting vacant department stores into gyms, amusement parks, luxury grocery stores, and even medical complexes.
Smart retailers are adapting quickly, closing underperforming locations across C-tier malls or in specific neighborhoods. This doesn’t mean they are dying; rather, they are adapting to the current retail dynamics and shifting consumer behavior.
Genesco quietly closed 202 stores over the past 3 years
Genesco, the company behind popular brands such as Journeys and Schuh, has been optimizing its footprint over the last couple of years. More precisely, it’s been saying goodbye to malls.
“Amid declining sales, Genesco is shifting the store presence of Journeys away from malls,” RetailDive reported in May 2023.
In fiscal 2024, Genesco shut down 94 Journey stores and confirmed plans to close another 50 in fiscal 2025, according to its fourth-quarter 2024 earnings release.
Genesco has been systematically reshaping its retail presence for over three years, quietly shutting down an average of 62 stores per year, or roughly five locations every month, since early 2023 to achieve a more efficient footprint.
More precisely, on Jan. 28, 2023, Genesco operated 1,410 stores, according to its filing with the Securities and Exchange Commission (SEC), and on May 2, 2026, it operated 1,208 stores, based on its SEC filing.
SEC filings show Genesco closed 202 stores between January 2023 and May 2026.
Genesco closes 30 stores in first quarter of fiscal 2027
In its latest earnings report for the first quarter of fiscal 2027, Genesco reported a 3% increase in net sales to $487 million, compared to the first quarter of fiscal 2026. The specialty retailer and wholesaler of branded and licensed footwear and accessories also disclosed a 2% growth in comparable sales.
“After a strong finish to Fiscal 2026, we are pleased to report a solid start to Fiscal 2027, delivering our seventh consecutive quarter of positive comparable sales and first quarter results that exceeded expectations across the board. The execution of our strategic initiatives continues to translate into tangible results,” stated Genesco CEO Mimi Vaughn.
During the quarter, the company opened two stores and closed 30 stores, ending the quarter with 1,208 stores versus the 1,256 it had at the end of the first quarter of last year. This represents a decrease of 4%, the report indicated.
Square footage was also down 4% on a year-over-year basis.
“For the trailing 12 months, we achieved an overall sales per square foot gain of 9%, demonstrating the improved efficiency across our fleet,” said Genesco Chief Financial Officer Darryl MacQuarrie during the earnings call.
Genesco is the engine behind Journeys, Schuh, and more
Genesco is a footwear-first company, offering a wide range of footwear across more than 1,200 of its stores and branded e-commerce websites. The company, founded in 1924, has three brands focused on kids, teens, and young adults. These include Little Burgundy, Journeys, and Schuh.
Genesco Brands Group also sells branded lifestyle footwear to leading retailers under licensed brands including Wrangler, Dockers, and Starter, reads the company’s About page.
Genesco’s brands:
- Journeys is a leading multi-brand specialty footwear retailer with more than 800 stores across the U.S., Puerto Rico, and Canada.
- Journeys kidz, an extension of the ever-popular Journeys retail model, puts a unique spin on youth fashion with “big kid shoes in little kid sizes.”
- Little Burgundy operates under the Journeys brand and is Canada’s shoe destination for 18- to 34-year-olds
- Schuh is one of the leading fashion footwear retailers with more than 115 stores in the U.K., Ireland and online, selling over 100 of the popular brands alongside their own-label collection.
- Johnston & Murphy, an iconic American brand founded in 1850, offers modern interpretations of classic styles to men and women.
Source: Genesco’s official website
Why Genesco is closing stores and what’s next for the company
In its fiscal 2024 first quarter report, Genesco revealed plans to close more than 100 Journeys stores for the full fiscal year, up from a previous estimate of 60 locations. By closing more locations, the company projected to save up to $40 million, more than the $20 million to $25 million it previously estimated.
“We still have work to do, but we are so far encouraged by the early reads and believe this initiative will represent a key element in Journeys’ growth moving forward,” Vaughn told Retail Dive, speaking of the company’s strategy to move Journeys stores away from malls.
Genesco’s closures are not sudden, but come as a strategy to address changing consumer habits and shifting mall dynamics.
Last fall, teens’ self-reported annual spending declined 6% year over year to $2,213, according to Piper Sandler’s 50th Semi-Annual Teen Survey.
“On a positive note, looking at wallet share for the upper income teen, clothing grew 1% year-over-year driven by females, while footwear share held steady after a decline last spring,” said Anna Andreeva, managing director at Piper Sandler.
And even though April 2026 data from Placer.ai revealed that traffic was up year over year across all mall formats, open-air centers led the category, extending a trend in place since December 2025.
At the same time, Genesco has heavily focused on new store concepts. In the first quarter, it opened 21 new 4.0 stores, making a total of 105 completed 4.0 Journeys stores.
Vaughn added that 4.0s are “becoming an increasingly greater driver of performance. Not only did the store channel perform well, but Journeys appeal was across channels with e-commerce posting double-digit gains.
“Importantly, store closures and cost efficiencies created a meaningful 190 basis points of expense leverage, demonstrating the significant productivity gains achieved in tandem with the comp increases.”
What is a “Journeys 4.0” store?
While the Journeys stores of the 1990s and 2000s you know were built like warehouses, with wall-to-wall towers of shoes meant to maximize inventory storage, the new concept is quite different.
Genesco’s next-generation Journeys retail format features larger footprints, updated fixtures, enhanced experiential elements, and higher productivity compared to standard stores, according to the company’s Q4 2026 earnings call transcript.
Related: Another mall retailer quietly closes 7 stores, plans more
Journeys Global Retail Group CEO Andy Gray spoke to Footwear News in October 2025 about the new store concept, highlighting that the remodeling of stores was “worth it.”
“We have managed to retain our existing consumer while also attracting new customers. The new store concept has way out indexed on both metrics versus the balance of our chain. I mean, the metrics are great. We love it. It’s providing a good return on investment, but the fact that it’s actually recruiting the next generation and retaining our current is super exciting,” Gray said.
What do Genesco’s store closures mean for consumers?
For an average shopper, Genesco’s recent closures confirm the retailer’s adaptation to the shift in consumer behavior. The generation that grew up buying skate shoes at Journeys might feel as if the suburban landscape is losing a nostalgic brand, but there’s more to the story.
In order to stay afloat, Genesco and its popular brands also had to improve store efficiency.
“The large number of store closures expected in 2025 and that happened last year are primarily a survival of the fittest phenomenon. In addition, some retailers have brick-and-mortar ‘dead wood’ that needs clearing out,” explained GlobalData Managing Director Neil Saunders back in 2025, Unity Marketing reported.
While Genesco closed hundreds of stores over the three years, it is also heavily investing in opening new ones, incorporating a new concept to better meet consumers’ high expectations.
“Not only do they want the best prices, but they also have no patience for stores that are constantly disorganized, out of stock, and that deliver poor customer service,” Coresight Research CEO Deborah Weinswig said.
Related: Strip-mall fashion giant quietly closed 246 stores, plans more
