10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 _______________________________________________________

FORM 10-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended February 2, 2013

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

for the transition period from             to             

Commission File No. 1-3083

_____________________________________________________ 

Genesco Inc.

(Exact name of registrant as specified in its charter)

Tennessee	62-0211340
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Genesco Park, 1415 Murfreesboro Road Nashville, Tennessee	37217-2895
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (615) 367-7000

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class	Name of Exchange on which Registered
Common Stock, $1.00 par value Preferred Share Purchase Rights	New York and Chicago New York and Chicago

Securities Registered Pursuant to Section 12(g) of the Act:

Subordinated Serial Preferred Stock, Series 1

Employees’ Subordinated Convertible Preferred Stock

________________________________________________________ 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  x    No  ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232-405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes  x    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   x

Indicate by check mark whether the registrant is a large accelerated filer; an accelerated filer; a non-accelerated filer; or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨    (Do not check if smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.) Yes  ¨    No  x

The aggregate market value of common stock held by nonaffiliates of the registrant as of July 28, 2012, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $1,587,000,000. The market value calculation was determined using a per share price of $65.31, the price at which the common stock was last sold on the New York Stock Exchange on such date. For purposes of this calculation, shares held by nonaffiliates excludes only those shares beneficially owned by officers, directors, and shareholders owning 10% or more of the outstanding common stock (and, in each case, their immediate family members and affiliates).

As of March 15, 2013, 24,010,616 shares of the registrant’s common stock were outstanding.

chase

Documents Incorporated by Reference

Portions of Genesco’s Annual Report to Shareholders for the fiscal year ended February 2, 2013 are incorporated into Part II by reference.

Portions of the proxy statement for the June 26, 2013 annual meeting of shareholders are incorporated into Part III by reference.

TABLE OF CONTENTS

		Page
PART I
Item 1.	Business	3
Item 1A.	Risk Factors	8
Item 1B.	Unresolved Staff Comments	13
Item 2.	Properties	13
Item 3.	Legal Proceedings	14
Item 4.	Mine Safety Disclosures	15
Item 4A.	Executive Officers	16
PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	17
Item 6.	Selected Financial Data	19
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	21
Item 7A.	Quantitative and Qualitative Disclosures about Market Risk	38
Item 8.	Financial Statements and Supplementary Data	39
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	101
Item 9A.	Controls and Procedures	101
Item 9B.	Other Information	101
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	102
Item 11.	Executive Compensation	102
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	102
Item 13.	Certain Relationships and Related Transactions, and Director Independence	102
Item 14.	Principal Accounting Fees and Services	102
PART IV
Item 15.	Exhibits and Financial Statement Schedules	103

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PART I

ITEM 1, BUSINESS

General

Genesco Inc. ("Genesco" or the “Company”) is a leading retailer and wholesaler of branded footwear, apparel and accessories with net sales for Fiscal 2013 of $2.60 billion. During Fiscal 2013, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations; (ii) Schuh Group, acquired in June 2011, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised of (a) headwear and accessory stores under the Lids^® name and other names in the U.S., Puerto Rico and Canada, (b) the Lids Locker Room business, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, (c) the Lids Clubhouse business, consisting of single team fan shops, (d) e-commerce business and (e) an athletic team dealer business operating as Lids Team Sports; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution; and (v) Licensed Brands, comprised of Dockers^® footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip^®Footwear, occupational footwear primarily sold directly to consumers; and other brands.

At February 2, 2013, the Company operated 2,459 retail footwear, headwear and sports apparel and accessory stores located primarily throughout the United States and in Puerto Rico, but also including 98 headwear stores and 29 footwear stores in Canada and 79 footwear stores and 13 footwear concessions in the United Kingdom and the Republic of Ireland. It currently plans to open a total of approximately 165 new retail stores and close 33 retail stores in Fiscal 2014. At February 2, 2013, Journeys Group operated 1,157 stores, including 156 Journeys Kidz, 51 Shi by Journeys and 130 Underground by Journeys; Schuh Group operated 79 stores and 13 concessions; Lids Sports Group operated 1,053 stores and Johnston & Murphy Group operated 157 retail shops and factory stores.

The following table sets forth certain additional information concerning the Company’s retail footwear, headwear and sports apparel and accessory stores during the five most recent fiscal years:

	Fiscal 2009		Fiscal 2010		Fiscal 2011		Fiscal 2012		Fiscal 2013
Retail Stores
Beginning of year	2,175		2,234		2,276		2,309		2,387
Opened during year	102		61		53		70		104
Acquired during year	—		38		58		85		33
Closed during year	(43	)	(57	)	(78	)	(77	)	(65	)
End of year	2,234		2,276		2,309		2,387		2,459

The Company also designs, sources, markets and distributes footwear under its own Johnston & Murphy brand, the licensed Dockers^® brand and other brands that the Company licenses for men's footwear to over 1,025 retail accounts in the United States, including a number of leading department, discount, and specialty stores.

Shorthand references to fiscal years (e.g., “Fiscal 2013”) refer to the fiscal year ended on the Saturday nearest January 31^st in the named year (e.g., February 2, 2013). The terms "Company," "Genesco," "we," "our" or "us" as used herein and unless otherwise stated or indicated by context refer to Genesco Inc. and its subsidiaries. All information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which is referred to in Item 1 of this report, is incorporated by such reference in Item 1. This report contains forward-looking statements. Actual results may vary materially and adversely from the expectations reflected in these statements. For a discussion of some of the factors that may lead to different results, see Item 1A, “Risk Factors” and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Available Information

The Company files reports with the Securities and Exchange Commission (“SEC”), including annual reports on Form 10-K, quarterly reports on Form 10-Q and other reports from time to time. The public may read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100 F. Street, NE, Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The Company is an electronic filer and the SEC maintains an Internet site at http://www.sec.gov that contains the reports, proxy and information statements, and other information filed electronically. The Company’s website address is http://www.genesco.com. The

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Company’s website address is provided as an inactive textual reference only. The Company makes available free of charge through the website annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with or furnished to the SEC. Copies of the charters of each of the Company’s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, as well as the Company’s Corporate Governance Guidelines and Code of Ethics along with position descriptions for the Board of Directors and Board committees are also available free of charge through the website. The information provided on the Company’s website is not part of this report, and is therefore not incorporated by reference unless such information is otherwise specifically incorporated elsewhere in this report.

Segments

Journeys Group

The Journeys Group segment, including Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail stores, catalog and e-commerce operations, accounted for approximately 43% of the Company’s net sales in Fiscal 2013. Operating income attributable to Journeys Group was $106.9 million in Fiscal 2013, with an operating margin of 9.6%. The Company believes that the Journeys Group’s distinctive store formats, its mix of well-known brands and new product introductions, and its experienced management team provide significant competitive advantages for the Journeys Group.

At February 2, 2013, Journeys Group operated 1,157 stores, including 156 Journeys Kidz stores, 51 Shi by Journeys stores and 130 Underground by Journeys stores averaging approximately 1,900 square feet, throughout the United States and in Puerto Rico and Canada, selling footwear and accessories for young men, women and children.

Same store sales increased 6%, comparable direct sales increased 8% and comparable sales, including both store and direct sales, increased 6% from the prior fiscal year. Journeys stores target customers in the 13 to 22 year age group through the use of youth-oriented decor and multi-channel media. Journeys stores carry predominately branded merchandise across a wide range of prices. The Journeys Kidz retail footwear stores sell footwear and accessories primarily for younger children ages five to 12. Shi by Journeys retail footwear stores sell footwear and accessories to a target customer group consisting of fashion-conscious women in their early 20’s to mid 30’s. Underground by Journeys retail footwear stores sell footwear and accessories primarily for men and women in the 20 to 35 age group. In Fiscal 2013, the Journeys Group added three net new stores and plans to open approximately 32 net new stores in Fiscal 2014.

Lids Sports Group

The Lids Sports Group segment, as described above, accounted for approximately 30% of the Company’s net sales in Fiscal 2013. Operating income attributable to Lids Sports Group was $85.8 million in Fiscal 2013, with an operating margin of 10.8%.

At February 2, 2013, Lids Sports Group operated 1,053 stores, averaging approximately 1,150 square feet, throughout the United States and in Puerto Rico and Canada. Lids Sports Group added 51 net new stores in Fiscal 2013, including 33 acquired stores, and plans to open approximately 78 net new stores in Fiscal 2014.

Same store sales for Lids Sports Group decreased 4% for Fiscal 2013, while comparable direct sales increased 9% from the prior fiscal year. Comparable sales, including both store and direct sales, decreased 3% for Fiscal 2013. The core headwear stores and kiosks, located in malls, airports, street-level stores and factory outlet stores throughout the United States and in Puerto Rico and Canada, target customers in the early-teens to mid-20’s age group. In general, the stores offer headwear from an assortment of college, MLB, NBA, NFL and NHL teams, as well as other specialty fashion categories. The Lids Locker Room and Lids Clubhouse stores, operating under a number of trade names, located in malls and other locations primarily in the United States, target sports fans of all ages. These stores offer headwear, apparel, accessories and novelties from an assortment of college and professional teams. The Clubhouse stores offer headwear, apparel and accessories for specific college or professional teams.

Schuh Group

The Schuh Group segment, including e-commerce operations, accounted for approximately 14% of the Company’s net sales in Fiscal 2013. Operating income attributable to Schuh Group was $7.9 million in Fiscal 2013, with an operating margin of 2.1%. Operating income for Schuh included $12.1 million in compensation expense related to a deferred purchase price obligation in connection with the acquisition. For additional information, see Note 2 to the Consolidated Financial Statements included in Item 8.

Sames store sales increased 7%, comparable direct sales increased 13% and comparable sales, including both store and direct sales, increased 8% from July through the end of the prior fiscal year. At February 2, 2013, Schuh Group operated

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76 Schuh stores, averaging approximately 4,300 square feet, which include both street-level and mall locations in the United Kingdom and the Republic of Ireland. Schuh Group opened its first Kids store in Fiscal 2013. As of February 2, 2013, Schuh Group operated three Kids stores averaging 1,075 square feet. The Schuh Group also operated 13 footwear concessions in Republic apparel stores in the United Kingdom, averaging approximately 1,175 square feet. Schuh Group plans to open approximately 15 new Schuh stores and close five stores in Fiscal 2014. Schuh stores target men and women in the 15 to 30 age group selling a broad range of branded casual and athletic footwear along with a meaningful private label offering.

Johnston & Murphy Group

The Johnston & Murphy Group segment, including retail stores, catalog and e-commerce operations and wholesale distribution, accounted for approximately 9% of the Company’s net sales in Fiscal 2013. Operating income attributable to Johnston & Murphy Group was $15.7 million in Fiscal 2013, with an operating margin of 7.1%. All of the Johnston & Murphy wholesale sales are of the Genesco-owned Johnston & Murphy brand and approximately 99% of the group’s retail sales are of Johnston & Murphy branded products.

Johnston & Murphy Retail Operations. At February 2, 2013, Johnston & Murphy operated 157 retail shops and factory stores throughout the United States and in Canada averaging approximately 1,825 square feet and selling footwear, luggage and accessories primarily for men in the 35 to 55 age group, targeting business and professional customers. Women’s footwear and accessories are sold in select Johnston & Murphy locations. Johnston & Murphy retail shops are located primarily in better malls and airports nationwide and sell a broad range of men’s dress and casual footwear and accessories. The Company also sells Johnston & Murphy products directly to consumers through an e-commerce website and a direct mail catalog. Same store sales for Johnston & Murphy retail operations increased 3%, comparable direct sales increased 13% and comparable sales, including both store and direct sales, increased 4% for Fiscal 2013. Retail prices for Johnston & Murphy footwear generally range from $100 to $275. Total footwear accounted for 65% of total Johnston & Murphy retail sales in Fiscal 2013, with the balance consisting primarily of apparel and accessories. Johnston & Murphy Group added nine new shops and factory stores, including four in Canada, and closed five shops and factory stores in Fiscal 2013, and plans to open approximately 12 net new shops and factory stores in Fiscal 2014.

Johnston & Murphy Wholesale Operations. In addition to Company-owned Johnston & Murphy retail shops and factory stores, Johnston & Murphy men’s footwear and accessories are sold at wholesale, primarily to better department and independent specialty stores. Johnston & Murphy’s wholesale customers offer the brand’s footwear for dress, dress casual, and casual occasions, with the majority of styles offered in these channels selling from $100 to $165.

Licensed Brands

The Licensed Brands segment accounted for approximately 4% of the Company’s net sales in Fiscal 2013. Operating income attributable to Licensed Brands was $10.1 million in Fiscal 2013, with an operating margin of 9.3%. Licensed Brands sales are footwear marketed under the Dockers^® brand, for which Genesco has had the exclusive men’s footwear license in the United States since 1991. See “Trademarks and Licenses.” Dockers footwear is marketed to men aged 30 to 55 through many of the same national retail chains that carry Dockers slacks and sportswear and in department and specialty stores across the country. Suggested retail prices for Dockers footwear generally range from $50 to $90. The Company acquired Keuka Footwear in the third quarter of Fiscal 2011 and subsequently launched its SureGrip^® Footwear line of slip-resistant, occupational footwear from that base. The Company sources and distributes the SureGrip line to employees in the hospitality, healthcare, and other industries.

For further information on the Company’s business segments, see Note 14 to the Consolidated Financial Statements included in Item 8 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Manufacturing and Sourcing

The Company relies on independent third-party manufacturers for production of its footwear products sold at wholesale. The Company sources footwear and accessory products from foreign manufacturers located in Bangladesh, Belgium, Brazil, Canada, China, Denmark, Dominican Republic, France, India, Indonesia, Ireland, Italy, Korea, Mexico, Netherlands, Peru, Portugal, Spain, Sweden, Thailand and Vietnam. The Company’s retail operations source primarily branded products from third parties, who source primarily overseas.

Competition

Competition is intense in the footwear and headwear industry. The Company’s retail footwear and headwear competitors range from small, locally owned stores to regional and national department stores, discount stores, and specialty chains.

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The Company also competes with hundreds of footwear wholesale operations in the United States and throughout the world, most of which are relatively small, specialized operations, but some of which are large, more diversified companies. Some of the Company’s competitors have resources that are not available to the Company. The Company’s success depends upon its ability to remain competitive with respect to the key factors of style, price, quality, comfort, brand loyalty, customer service, store location and atmosphere and the ability to offer distinctive products.

Licenses

The Company owns its Johnston & Murphy brand and owns or licenses the trade names of its retail concepts either directly or through wholly-owned subsidiaries. The Dockers^® brand footwear line, introduced in Fiscal 1993, is sold under a license agreement granting the exclusive right to sell men’s footwear under the trademark in the United States, Canada and Mexico and in certain other Latin American countries. The Dockers license agreement, as amended, expires on November 30, 2015, subject to extension for an additional 3-year term if certain conditions are met. Net sales of Dockers products were approximately $84 million in Fiscal 2013 and approximately $78 million in Fiscal 2012. The Company licenses certain of its footwear brands, mostly in foreign markets. License royalty income was not material in Fiscal 2013.

Wholesale Backlog

Most of the orders in the Company’s wholesale divisions are for delivery within 150 days. Because most of the Company’s business is at-once, the backlog at any one time is not necessarily indicative of future sales. As of March 2, 2013, the Company’s wholesale operations had a backlog of orders, including unconfirmed customer purchase orders, amounting to approximately $46.1 million, compared to approximately $47.5 million on February 25, 2012. The backlog is somewhat seasonal, reaching a peak in spring. The Company maintains in-stock programs for selected product lines with anticipated high volume sales.

Employees

Genesco had approximately 22,700 employees at February 2, 2013, approximately 120 of whom were employed in corporate staff departments and the balance in operations. Retail footwear and headwear stores employ a substantial number of part-time employees, and approximately 13,875 of the Company’s employees were part-time.

Properties

At February 2, 2013, the Company operated 2,459 retail footwear, headwear and sports apparel and accessory stores throughout the United States and in Puerto Rico, Canada, the United Kingdom and the Republic of Ireland. New shopping center store leases in the United States, Puerto Rico and Canada typically are for a term of approximately 10 years and new factory outlet leases typically are for a term of approximately five years. Store leases in the United Kingdom and the Republic of Ireland typically have terms of between 10 and 20 years. Both typically provide for rent based on a percentage of sales against a fixed minimum rent based on the square footage leased.

Seasonality

The Company's business is seasonal with the Company's investment in inventory and accounts receivable normally reaching peaks in the spring and fall of each year.

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The general location, use and approximate size of the Company’s principal properties are set forth below:

Location	Owned/Leased	Segment	Use	Approximate Area Square Feet
Lebanon, TN	Owned	Journeys Group	Distribution warehouse	320,000
Nashville, TN	Leased	Various	Executive & footwear operations offices	295,000	*
Indianapolis, IN	Leased	Lids Sports Group	Distribution warehouse and manufacturing	271,825
Chapel Hill, TN	Owned	Licensed Brands	Distribution warehouse	182,000
Fayetteville, TN	Owned	Johnston & Murphy Group	Distribution warehouse	178,500
Indianapolis, IN	Leased	Lids Sports Group	Distribution warehouse	152,158
Deans Industrial Estate, Livingston, Scotland	Owned	Schuh Group	Distribution warehouse and administrative offices	106,813
Indianapolis, IN	Leased	Lids Sports Group	Distribution Warehouse	77,281
Lake Katrine, NY	Leased	Lids Sports Group	Distribution warehouse and administrative offices	68,300
Nashville, TN	Owned	Journeys Group	Distribution warehouse	63,000
Houston Industrial Estate, Livingston, Scotland	Leased	Schuh Group	Distribution warehouse	51,012
Indianapolis, IN	Leased	Lids Sports Group	Headwear operations offices	43,000
Mississauga, Ontario, Canada	Leased	Lids Sports Group	Distribution warehouse	28,392
Tigard, OR	Leased	Lids Sports Group	Administrative offices	17,844
Indianapolis, IN	Leased	Lids Sports Group	Administrative offices	13,000
Tampa, FL	Leased	Lids Sports Group	Distribution warehouse and administrative offices	7,112

* The Company occupies approximately 80% of the building and subleases the remainder of the building.

The lease on the Company’s Nashville office expires in April 2017, with an option to renew for an additional five years. The lease on the Indianapolis headwear office expires in May 2015. The Company believes that all leases of properties that are material to its operations may be renewed on terms not materially less favorable to the Company than existing leases.

Environmental Matters

The Company’s former manufacturing operations and the sites of those operations are subject to numerous federal, state, and local laws and regulations relating to human health and safety and the environment. These laws and regulations address and regulate, among other matters, wastewater discharge, air quality and the generation, handling, storage, treatment, disposal, and transportation of solid and hazardous wastes and releases of hazardous substances into the environment. In addition, third parties and governmental agencies in some cases have the power under such laws and regulations to require remediation of environmental conditions and, in the case of governmental agencies, to impose fines and penalties. Several of the facilities owned by the Company (currently or in the past) are located in industrial areas and have historically been used for extensive periods for industrial operations such as tanning, dyeing, and manufacturing. Some of these operations used materials and generated wastes that would be considered regulated substances under current environmental laws and regulations. The

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Company currently is involved in certain administrative and judicial environmental proceedings relating to the Company’s former facilities. See Item 3, Legal Proceedings and Note 13.

ITEM 1A, RISK FACTORS

Our business is subject to significant risks. You should carefully consider the risks and uncertainties described below and the other information in this Form 10-K, including our consolidated financial statements and the notes to those statements. The risks and uncertainties described below are not the only ones we face. Additional risks and uncertainties that we do not presently know about or that we currently consider immaterial may also affect our business operations and financial performance. If any of the events described below actually occur, our business, financial condition or results of operations could be adversely affected in a material way. This could cause the trading price of our stock to decline, perhaps significantly, and you may lose part or all of your investment.

Poor economic conditions and other factors can affect consumer spending and may significantly harm our business, affecting our financial condition, liquidity, and results of operations.

The success of our business depends to a significant extent upon the level of consumer spending. A number of factors may affect the level of consumer spending on merchandise that we offer, including, among other things:

•general economic, industry and weather conditions;

•energy costs, which affect gasoline and home heating prices;

•the level of consumer debt;

•pricing of products;

•interest rates;

•tax rates, refunds and policies;

•war, terrorism and other hostilities; and

•consumer confidence in future economic conditions.

Adverse economic conditions and any related decrease in consumer demand for discretionary items could have a material adverse effect on our business, results of operations and financial condition. The merchandise we sell generally consists of discretionary items. Reduced consumer confidence and spending may result in reduced demand for discretionary items and may force us to take inventory markdowns, decreasing sales and making expense leverage difficult to achieve. Demand can also be influenced by other factors beyond our control. For example, sales in the Lids Sports Group segment have historically been affected by developments in team sports, and could be adversely impacted by player strikes or other interruptions, as well as by the performance and reputation of certain teams.

Moreover, while the Company believes that its operating cash flows and its borrowing capacity under committed lines of credit will be more than adequate for its anticipated cash requirements, if the economy were to experience a renewed downturn, or if one or more of the Company’s revolving credit banks were to fail to honor its commitments under the Company’s credit lines, the Company could be required to modify its operations for decreased cash flow or to seek alternative sources of liquidity, and such alternative sources might not be available to the Company.

Our business involves a degree of fashion risk.

The majority of our businesses serve a fashion-conscious customer base and depend upon the ability of our buyers and merchandisers to react to fashion trends, to purchase inventory that reflects such trends, and to manage our inventories appropriately in view of the potential for sudden changes in fashion or in consumer taste. Failure to continue to execute any of these activities successfully could result in adverse consequences, including lower sales, product margins, operating income and cash flows.

Our business and results of operations are subject to a broad range of uncertainties arising out of world and domestic events.

Our business and results of operations are subject to uncertainties arising out of world and domestic events, which may impact not only consumer demand, but also our ability to obtain the products we sell, most of which are produced outside the countries in which we operate. These uncertainties may include a global economic slowdown, changes in consumer

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spending or travel, the increase in gasoline and natural gas prices, and the economic consequences of natural disasters, military action or terrorist activities and increased regulatory and compliance burdens related to governmental actions in response to a variety of factors, including but not limited to national security and anti-terrorism concerns and concerns about climate change. Any future events arising as a result of terrorist activity or other world events may have a material impact on our business, including the demand for and our ability to source products, and consequently on our results of operations and financial condition.

The increasing scope of our non-U.S. operations exposes our performance to risks including foreign economic conditions and exchange rate fluctuations.

Our performance depends in part on general economic conditions affecting all countries in which we do business. We are dependent on foreign manufacturers for the products we sell, and our inventory is subject to cost and availability of foreign materials and labor. Demand for our product offering in our non-U.S. operations is also subject to local market conditions. The economic situation in Europe has been unstable, arising from concerns that certain European countries may default in payments due on their national debt obligations and from related European financial restructuring efforts, the effects of which could be felt throughout the European Union, including in the U.K. and the Republic of Ireland, where our Schuh operations are based. While Schuh has performed above our expectations since its acquisition, there can be no assurance that its future performance will not be adversely affected by economic conditions in its markets.

As we expand our international operations, we also increase our exposure to exchange rate fluctuations. Sales from stores outside the U.S. are denominated in the currency of the country in which these operations or stores are located and changes in foreign exchange rates affect the translation of the sales and earnings of these businesses into U.S. dollars for financial reporting purposes. Additionally, inventory purchase agreements may also be denominated in the currency of the country where the vendor resides.

Our business is intensely competitive and increased or new competition could have a material adverse effect on us.

The retail footwear, headwear and accessories markets are intensely competitive. We currently compete against a diverse group of retailers, including other regional and national specialty stores, department and discount stores, small independents and e-commerce retailers, which sell products similar to and often identical to those we sell. Our branded businesses, selling footwear at wholesale, also face intense competition, both from other branded wholesale vendors and from private label initiatives of their retailer customers. A number of different competitive factors could have a material adverse effect on our business, results of operations and financial condition, including:

•increased operational efficiencies of competitors;

•competitive pricing strategies;

•expansion by existing competitors;

•entry by new competitors into markets in which we currently operate; and

•adoption by existing retail competitors of innovative store formats or sales methods.

We are dependent on third-party vendors for the merchandise we sell.

We do not manufacture any of the merchandise we sell. This means that our product supply is subject to the ability and willingness of third-party suppliers to deliver merchandise we order on time and in the quantities and of the quality we need. In addition, a material portion of our retail footwear sales consists of products marketed under brands, belonging to unaffiliated vendors, which have fashion significance to our customers. Our core retail hat business is dependent upon products bearing sports and other logos, each generally controlled by a single licensee/vendor. If those vendors were to decide not to sell to us or to limit the availability of their products to us, or if they become unable because of economic conditions or any other reason to supply us with products, we could be unable to offer our customers the products they wish to buy and could lose their business to competitors.

An increase in the cost or a disruption in the flow of our imported products may significantly decrease our sales and profits.

Merchandise originally manufactured and imported from overseas makes up a large proportion of our total inventory. A disruption in the shipping of our imported merchandise or an increase in the cost of those products may significantly decrease our sales and profits. We may be unable to meet our customers’ demands or pass on price increases to our customers. In addition, if imported merchandise becomes more expensive or unavailable, the transition to alternative sources may not

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occur in time to meet demand. Products from alternative sources may also be of lesser quality or more expensive than those we currently import. Risks associated with our reliance on imported products include:

•disruptions in the shipping and importation of imported products because of factors such as:

•raw material shortages, work stoppages, strikes and political unrest;

•problems with oceanic shipping, including shipping container shortages;

•increased customs inspections of import shipments or other factors causing delays in shipments;

•economic crises, natural disasters, international disputes and wars; and

•increases in the cost of purchasing or shipping foreign merchandise resulting from:

• denial by the United States of “most favored nation” trading status to or the imposition of quotas or other restriction on imports from a foreign country from which we purchase goods;

•import duties, import quotas and other trade sanctions; and

•increases in shipping rates.

A significant amount of the inventory we sell is imported from the People’s Republic of China, which has historically been subject to efforts to increase duty rates or to impose restrictions on imports of certain products.

A small portion of the products we buy abroad are priced in foreign currencies and, therefore, we are affected by fluctuating currency exchange rates. In the past, we have entered into foreign currency exchange contracts with major financial institutions to hedge these fluctuations. We might not be able to effectively protect ourselves in the future against currency rate fluctuations, and our financial performance could suffer as a result. Even dollar-denominated foreign purchases may be affected by currency fluctuations, as suppliers seek to reflect appreciation in the local currency against the dollar in the price of the products that they provide. You should read “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for more information about our foreign currency exchange rate exposure and hedging activities.

The operation of the Company’s business is heavily dependent on its information systems.

We depend on a variety of information technology systems for the efficient functioning of our business and security of information. Much information essential to our business is maintained electronically, including competitively sensitive information and potentially sensitive personal information about customers and employees. Security breaches and incidents, such as the unlawful intrusion into a portion of our networks used to process payment card and check transactions for certain retail stores that we announced in December 2010, could expose us to liability connected to any data loss, to higher operational costs related to security enhancements, and to loss of consumer confidence in our retail concepts and brands. Our insurance policies may not provide coverage for these matters or may have coverage limits which may not be adequate to reimburse us for losses caused by security breaches. We rely on certain hardware and software vendors to maintain and periodically upgrade many of these systems so that they can continue to support our business. The software programs supporting many of our systems were licensed to the Company by independent software developers. The inability of these developers or the Company to continue to maintain and upgrade these information systems and software programs could disrupt or reduce the efficiency of our operations. In addition, costs and potential problems and interruptions associated with the implementation of new or upgraded systems and technology or with maintenance or adequate support of existing systems could also disrupt or reduce the efficiency of our operations or leave the Company vulnerable to security breaches.

We also rely heavily on our information technology staff. If we cannot meet our staffing needs in this area, we may not be able to fulfill our technology initiatives or to provide maintenance on existing systems.

The loss of, or disruption in, one of our distribution centers and other factors affecting the distribution of merchandise, could have a material adverse effect on our business and operations.

Each of our operations uses a single distribution center to handle all or a significant amount of its merchandise. Most of our operations’ inventory is shipped directly from suppliers to their distribution centers, where the inventory is then processed, sorted and shipped to our stores or to our wholesale customers. We depend on the orderly operation of this receiving and distribution process, which depends, in turn, on adherence to shipping schedules and effective management of the distribution centers. Although we believe that our receiving and distribution process is efficient and well positioned to support our current business and our expansion plans, we cannot offer assurance that we have anticipated all of the changing demands which our expanding operations will impose on our receiving and distribution system, or that events beyond our control,

10

such as disruptions in operations due to fire or other catastrophic events, labor disagreements or shipping problems (whether in our own or in our third party vendors’ or carriers’ businesses), will not result in delays in the delivery of merchandise to our stores or to our wholesale customers. We also make changes in our distribution processes from time to time in an effort to improve efficiency, maximize capacity, etc. We cannot assure that these changes will not result in unanticipated delays or interruptions in distribution. We depend upon UPS for shipment of a significant amount of merchandise. An interruption in service by UPS for any reason could cause temporary disruptions in our business, a loss of sales and profits, and other material adverse effects.

Our freight cost is impacted by changes in fuel prices through surcharges. Fuel prices and surcharges affect freight cost both on inbound freight from vendors to our distribution centers and outbound freight from our distribution centers to our stores and wholesale customers.

Increases in fuel prices and surcharges and other factors may increase freight costs and thereby increase our cost of goods sold.

Any acquisitions we make or new businesses we launch involve a degree of risk.

Acquisitions have been a component of the Company’s growth strategy in recent years and we expect that we may continue to engage in acquisitions or launch new businesses to grow our revenues and meet our other strategic objectives. If any future acquisitions are not successfully integrated with our business, our ongoing operations could be adversely affected. Additionally, acquisitions or new businesses may not achieve desired profitability objectives or result in any anticipated successful expansion of the businesses or concepts. Although we review and analyze assets or companies we acquire, such reviews are subject to uncertainties and may not reveal all potential risks. Additionally, although we attempt to obtain protective contractual provisions, such as representations, warranties and indemnities, in connection with acquisitions, we cannot offer assurance that we can obtain such provisions in our acquisitions or that they will fully protect us from unforeseen costs of the acquisitions. We may also incur significant costs and diversion of management time and attention in connection with pursuing possible acquisitions even if the acquisition is not ultimately consummated.

We face a number of risks in opening new stores.

As part of our long-term growth strategy, we expect to open new stores, both in regional malls, where most of our operational experience lies, and in other venues with which we are less familiar, including lifestyle centers, major city street locations, and tourist destinations. Because of economic conditions and the availability of appropriate locations, we slowed our pace of new store openings beginning in Fiscal 2010. While we intend to continue to be selective with respect to new locations, our plans for Fiscal 2014 call for more new stores than we have opened in any year since Fiscal 2008. We increased our net store base by 33 in Fiscal 2011, 78 in Fiscal 2012 and 72 in Fiscal 2013; and currently plan to increase our net store base by approximately 132 stores in Fiscal 2014. We cannot offer assurances that we will be able to open as many stores as we have planned, that any new store will achieve similar operating results to those of our existing stores or that new stores opened in markets in which we operate will not have a material adverse effect on the revenues and profitability of our existing stores. The success of our planned expansion will be dependent upon numerous factors, many of which are beyond our control, including the following:

•our ability to identify suitable markets and individual store sites within those markets;

•the competition for suitable store sites;

• our ability to negotiate favorable lease terms for new stores and renewals (including rent and other costs) with landlords;

• our ability to obtain governmental and other third-party consents, permits and licenses needed to construct and operate our stores;

•the ability to build and remodel stores on schedule and at acceptable cost;

•the availability of employees to staff new stores and our ability to hire, train, motivate and retain store personnel;

•the availability of adequate management and financial resources to manage an increased number of stores;

• our ability to adapt our distribution and other operational and management systems to an expanded network of stores; and

•our ability to attract customers and generate sales sufficient to operate new stores profitably.

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Additionally, the results we expect to achieve during each fiscal quarter are dependent upon opening new stores on schedule. If we fall behind, we will lose expected sales and earnings between the planned opening date and the actual opening and may further complicate the logistics of opening stores, possibly resulting in additional delays.

Our results of operations are subject to seasonal and quarterly fluctuations, which could have a material adverse effect on the market price of our stock.

Our business is highly seasonal, with a significant portion of our net sales and operating income generated during the fourth quarter, which includes the holiday shopping season. Because of this seasonality, we have limited ability to compensate for shortfalls in fourth quarter sales or earnings by changes in our operations or strategies in other quarters. A significant shortfall in results for the fourth quarter of any year could have a material adverse effect on our annual results of operations and on the market price of our stock. Our quarterly results of operations also may fluctuate significantly based on such factors as:

•the timing of new store openings and renewals;

•the amount of net sales contributed by new and existing stores;

•the timing of certain holidays and sales events;

•changes in our merchandise mix;

•general economic, industry and weather conditions that affect consumer spending; and

•actions of competitors, including promotional activity.

A failure to increase sales at our existing stores and in our e-commerce businesses may adversely affect our stock price and impact our results of operations.

A number of factors have historically affected, and will continue to affect, our comparable sales results, including:

•consumer trends, such as less disposable income due to the impact of economic conditions and tax policies;

•competition;

•timing of holidays including sales tax holidays;

•general regional and national economic conditions;

•inclement weather;

•changes in our merchandise mix;

•our ability to distribute merchandise efficiently to our stores;

•timing and type of sales events, promotional activities or other advertising;

•other external events beyond our control;

•new merchandise introductions; and

•our ability to execute our business strategy effectively.

Our comparable sales have fluctuated in the past, and we believe such fluctuations may continue. The unpredictability of our comparable sales may cause our revenue and results of operations to vary from quarter to quarter, and an unanticipated change in revenues or operating income may cause our stock price to fluctuate significantly.

We are subject to regulatory proceedings and litigation that could have an adverse effect on our financial condition and results of operations.

We are party to certain lawsuits, governmental investigations, and regulatory proceedings, including the suits and proceedings arising out of alleged environmental contamination relating to historical operations of the Company and various suits involving current operations as disclosed in Note 13 to the Consolidated Financial Statements. If these or similar matters are resolved against us, our results of operations, our cash flows, or our financial condition could be adversely affected. The costs of defending such lawsuits and responding to such investigations and regulatory proceedings may be

12

substantial and their potential to distract management from day-to-day business is significant. Moreover, with retail operations in 50 states, Puerto Rico, Canada, the United Kingdom and the Republic of Ireland, we are subject to federal, state, provincial, territorial, local and foreign regulations, which impose costs and risks on our business. Changes in regulations could make compliance more difficult and costly, and violations could result in liability for damages or penalties.

If we lose key members of management or are unable to attract and retain the talent required for our business, our operating results could suffer.

Our performance depends largely on the efforts and abilities of members of our management team. Our executives have substantial experience and expertise in our business and have made significant contributions to our growth and success. The unexpected future loss of services of one or more key members of our management team could have an adverse effect on our business. In addition, future performance will depend upon our ability to attract, retain and motivate qualified employees, including store personnel and field management. If we are unable to do so, our ability to meet our operating goals may be compromised. Finally, our stores are decentralized, are managed through a network of geographically dispersed management personnel and historically experience a high degree of turnover. If we are for any reason unable to maintain appropriate controls on store operations due to turnover or other reasons, including the ability to control losses resulting from inventory and cash shrinkage, our sales and operating margins may be adversely affected. There can be no assurance that we will be able to attract and retain the personnel we need in the future.

Goodwill recorded with acquisitions is subject to impairment which could reduce the Company'sprofitability.

Deterioration in the Company’s market value, whether related to the Company’s operating performance or to disruptions in the equity markets or deterioration in the operating performance of the business unit with which goodwill is associated, could require the Company to recognize the impairment of some or all of the $273.8 million of goodwill on its Consolidated Balance Sheets at February 2, 2013, resulting in the reduction of net assets and a corresponding non-cash charge to earnings in the amount of the impairment.

In connection with acquisitions, the Company records goodwill on its Consolidated Financial Statements. This asset is not amortized but is subject to an impairment test at least annually, which consists of either a qualitative assessment on a reporting unit level, or a two-step impairment test if necessary, that is based on projected future cash flows from the acquired business discounted at a rate commensurate with the risk the Company considers to be inherent in its current business model. The Company performs the impairment test annually as of the close of its fiscal year, or more frequently if events or circumstances indicate that the value of the asset might be impaired.

As a result of the various acquisitions comprising the Lids Team Sports team dealer business, the Company carries goodwill at a value of $14.0 million on its Consolidated Balance Sheets related to such acquisitions. The Company found that the result of its annual impairment test, which valued the business at approximately $2.8 million in excess of its carrying value, indicated no impairment at that time. The Company may determine in future impairment tests that some or all of the carrying value of the goodwill may not be recoverable. Such a finding would require a write-off of the amount of the carrying value that is impaired, which would reduce the Company's profitability in the period of the impairment charge. Holding all other assumptions constant as of the measurement date, the Company noted that an increase in the weighted average cost of capital of 100 basis points would reduce the fair value of the Lids Team Sports business by $7.4 million. Furthermore, the Company noted that a decrease in projected annual revenue growth by one percent would reduce the fair value of the Lids Team Sports business by $0.4 million. However, if other assumptions do not remain constant, the fair value of the Lids Team Sports business may decrease by a greater amount. Since the maximum non-cash goodwill impairment charge would be $14.0 million, the Company does not believe that any impairment charge related thereto would be material; however, there can be no assurance that any future goodwill impairment will not have a material adverse effect on the Company's financial position.

ITEM 1B, UNRESOLVED STAFF COMMENTS

None.

ITEM 2, PROPERTIES

See Item 1, Business — Properties.

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ITEM 3, LEGAL PROCEEDINGS

Environmental Matters

New York State Environmental Matters

In August 1997, the New York State Department of Environmental Conservation (“NYSDEC”) and the Company entered into a consent order whereby the Company assumed responsibility for conducting a remedial investigation and feasibility study (“RIFS”) and implementing an interim remedial measure (“IRM”) with regard to the site of a knitting mill operated by a former subsidiary of the Company from 1965 to 1969. The Company undertook the IRM and RIFS voluntarily, without admitting liability or accepting responsibility for any future remediation of the site. The Company has completed the IRM and the RIFS. In the course of preparing the RIFS, the Company identified remedial alternatives with estimated undiscounted costs ranging from $0.0 million to $24.0 million, excluding amounts previously expended or provided for by the Company. The United States Environmental Protection Agency (“EPA”), which has assumed primary regulatory responsibility for the site from NYSDEC, issued a Record of Decision in September 2007. The Record of Decision requires a remedy of a combination of groundwater extraction and treatment and in-site chemical oxidation at an estimated present cost of approximately $10.7 million.

In July 2009, the Company agreed to a Consent Order with the EPA requiring the Company to perform certain remediation actions, operations, maintenance and monitoring at the site. In September 2009, a Consent Judgment embodying the Consent Order was filed in the U.S. District Court for the Eastern District of New York.    

The Village of Garden City, New York, has additionally asserted that the Company is liable for the costs associated with enhanced treatment required by the impact of the groundwater plume from the site on two public water supply wells, including historical costs ranging from approximately $1.8 million to in excess of $2.5 million, and future operation and maintenance costs which the Village estimates at $126,400 annually while the enhanced treatment continues. On December 14, 2007, the Village filed a complaint against the Company and the owner of the property under the Resource Conservation and Recovery Act (“RCRA”), the Safe Drinking Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) as well as a number of state law theories in the U.S. District Court for the Eastern District of New York, seeking an injunction requiring the defendants to remediate contamination from the site and to establish their liability for future costs that may be incurred in connection with it, which the complaint alleges could exceed $41 million, undiscounted, over a 70-year period. The Company has not verified the estimates of either historic or future costs asserted by the Village, but believes that an estimate of future costs based on a 70-year remediation period is unreasonable given the expected remedial period reflected in the EPA's Record of Decision. On May 23, 2008, the Company filed a motion to dismiss the Village's complaint on grounds including applicable statutes of limitation and preemption of certain claims by the NYSDEC's and the EPA's diligent prosecution of remediation. On January 27, 2009, the Court granted the motion to dismiss all counts of the plaintiff's complaint except for the CERCLA claim and a state law claim for indemnity for costs incurred after November 27, 2000. On September 23, 2009, on a motion for reconsideration by the Village, the Court reinstated the claims for injunctive relief under RCRA and for equitable relief under certain of the state law theories. The Company intends to continue to defend the action.

Whitehall Environmental Matters

The Company has performed sampling and analysis of soil, sediments, surface water, groundwater and waste management areas at the Company's former Volunteer Leather Company facility in Whitehall, Michigan.

In October 2010, the Company and the Michigan Department of Natural Resources and Environment entered into a Consent Decree providing for implementation of a remedial Work Plan for the facility site designed to bring the site into compliance with applicable regulatory standards. The Work Plan's implementation is substantially complete and the Company expects, based on its present understanding of the condition of the site, that its future obligations with respect to the site will be limited to periodic monitoring and that future costs related to the site should not have a material effect on its financial condition or results of operations.

Accrual for Environmental Contingencies

Related to all outstanding environmental contingencies, the Company had accrued $11.9 million as of February 2, 2013, $13.0 million as of January 28, 2012 and $15.5 million as of January 29, 2011. All such provisions reflect the Company's estimates of the most likely cost (undiscounted, including both current and noncurrent portions) of resolving the contingencies, based on facts and circumstances as of the time they were made. There is no assurance that relevant facts and circumstances will not change, necessitating future changes to the provisions. Such contingent liabilities are included in the liability arising from provision for discontinued operations on the accompanying Consolidated Balance Sheets because they relate to former facilities operated by the Company. The Company has made pretax accruals for certain of

14

these contingencies, including approximately $0.8 million reflected in Fiscal 2013, $1.8 million reflected in Fiscal 2012 and $2.9 million reflected in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations and represent changes in estimates.

Other Matters

On December 10, 2010, the Company announced that it had suffered a criminal intrusion into the portion of its computer network that processes payments for transactions in certain of its retail stores. Visa, Inc., MasterCard Worldwide and American Express Travel Related Services Company, Inc. have asserted claims totaling approximately $15.6 million in connection with the intrusion and the claims of two of the claimants have been collected by withholding payment card receivables of the Company. In the fourth quarter of Fiscal 2013, the Company recorded a $15.4 million charge to earnings in connection with the disputed liability. On March 7, 2013, the Company filed an action in the U.S. District Court for the Middle District of Tennessee against Visa U.S.A. Inc., Visa Inc. and Visa International Service Association seeking to recover $13.3 million in non-compliance fines and issuer reimbursement assessments collected from the Company in connection with the intrusion. The Company does not currently expect any future claims in connection with the intrusion to have a material effect on its financial condition, cash flows, or results of operations.

On January 5, 2012, a patent infringement action against the Company and numerous other defendants was filed in the U.S. District Court for the Eastern District of Texas, GeoTag, Inc. v. Circle K Store, Inc., et al., alleging that features of certain of the Company's e-commerce websites infringe U.S. Patent No. 5,930,474, entitled “Internet Organizer for Accessing Geographically and Topically Based Information.” The plaintiff seeks relief including damages for the alleged infringement, costs, expenses and pre- and post-judgment interest and injunctive relief. The Company disputes the validity of the claim and is defending the matter.

On June 13, 2012, a former vendor of a subsidiary of the Company filed an action, Perfect Curve, Inc. v. Hat World, Inc., in U.S. District Court in Massachusetts, alleging patent, trademark, trade dress, and copyright infringement against the subsidiary based on the sale of a line of products developed by the subsidiary. The Company denies the material allegations against it and is defending the action.

On May 14, 2012, a putative class and collective action, Maro v. Hat World, Inc., was filed in the U.S. District Court for the Northern District of Illinois. The action alleges that the Company failed to pay the plaintiff and other, similarly situated retail store employees of Hat World, Inc., for time spent making bank deposits of store collections, and seeks to recover unpaid wages, liquidated damages, statutory penalties, attorneys fees, and costs pursuant to the federal Fair Labor Standards Act, the Illinois Minimum Wage Law and the Illinois Wage Payment and Collection Act. On July 16, 2012 and July 30, 2012, additional putative class and collective actions, Chavez v. Hat World, Inc. and Dismukes v. Hat World, Inc., were filed in the same court, alleging that certain Hat World employees were misclassified as exempt from overtime pay, and seeking similar relief. The Chavez and Dismukes actions have been consolidated. The Company disputes the material allegations in the consolidated action and in Maro and is defending the actions.

On August 30, 2012, a former employee of a Company subsidiary filed a putative class and collective action, Kershner v. Hat World, Inc., in the Philadelphia, Pennsylvania Court of Common Pleas alleging violations of the Pennsylvania Minimum Wage Act by the subsidiary. The Company is defending the matter.

In addition to the matters specifically described above, the Company is a party to other legal and regulatory proceedings and claims arising in the ordinary course of its business. While management does not believe that the Company's liability with respect to any of these other matters is likely to have a material effect on its financial position, cash flows, or results of operations, legal proceedings are subject to inherent uncertainties and unfavorable rulings could have a material adverse impact on the Company's business and results of operations.

ITEM 4, MINE SAFETY DISCLOSURES

Not applicable.

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ITEM 4A, EXECUTIVE OFFICERS

The officers of the Company are generally elected at the first meeting of the board of directors following the annual meeting of shareholders and hold office until their successors have been chosen and qualified. The name, age and office of each of the Company’s executive officers and certain information relating to the business experience of each are set forth below:

Robert J. Dennis, 59, Chairman, President and Chief Executive Officer. Mr. Dennis joined the Company in 2004 as chief executive officer of the Company’s acquired Hat World business. Mr. Dennis was named senior vice president of the Company in June 2004 and executive vice president and chief operating officer, with oversight responsibility for all the Company’s operating divisions, in October 2005. Mr. Dennis was named president of the Company in October 2006 and chief executive officer in August 2008. Mr. Dennis was named chairman in February 2010, which became effective April 1, 2010. Mr. Dennis joined Hat World in 2001 from Asbury Automotive, where he was employed in senior management roles beginning in 1998. Mr. Dennis was with McKinsey and Company, an international consulting firm, from 1984 to 1997, and became a partner in 1990.

James S. Gulmi, 67, Senior Vice President – Finance and Chief Financial Officer. Mr. Gulmi joined the Company in 1971 as a financial analyst, appointed assistant treasurer in 1974 and named treasurer in 1979. He was elected a vice president in 1983 and assumed the responsibilities of chief financial officer in 1986. Mr. Gulmi was appointed senior vice president—finance in January 1996.

Jonathan D. Caplan, 59, Senior Vice President. Mr. Caplan rejoined the Company in 2002 as chief executive officer of the branded group and president of Johnston & Murphy and was named senior vice president of the Company in November 2003. Mr. Caplan first joined the Company in June 1982 and served as president of Genesco’s Laredo-Code West division from December 1985 to May 1992. After that time, Mr. Caplan was president of Stride Rite’s Children’s Group and then its Ked’s Footwear division, from 1992 to 1996. He was vice president, New Business Development and Strategy, for Service Merchandise Corporation from 1997 to 1998. Prior to rejoining Genesco in October 2002, Mr. Caplan served as president and chief executive officer of Hi-Tec Sports North America beginning in 1998.

James C. Estepa, 61, Senior Vice President. Mr. Estepa joined the Company in 1985 and in February 1996 was named vice president operations of Genesco Retail, which included the Jarman Shoe Company, Journeys, Boot Factory and General Shoe Warehouse. Mr. Estepa was named senior vice president operations of Genesco Retail in June 1998. He was named president of Journeys in March 1999. Mr. Estepa was named senior vice president of the Company in April 2000. He was named president and chief executive officer of the Genesco Retail Group in 2001, assuming additional responsibilities of overseeing the Company's former Underground Station segment.

Kenneth J. Kocher, 47, Senior Vice President. Mr. Kocher joined Hat World in 1997 as chief financial officer and was named president in October 2005. He was named senior vice president of the Company in October 2006 in addition to continuing his role as president of Hat World. Prior to joining Hat World, he served as a controller with several companies and was a certified public accountant with Edie Bailley, a public accounting firm.

Roger G. Sisson, 49, Senior Vice President, Secretary and General Counsel. Mr. Sisson joined the Company in 1994 as assistant general counsel and was elected secretary in February 1994. He was named general counsel in January 1996. Mr. Sisson was named vice president in November 2003. He was named senior vice president in October 2006.

Mimi Eckel Vaughn, 46, Senior Vice President of Strategy and Shared Services. Ms. Vaughn joined the Company in September 2003 as vice president of strategy and business development. She was named senior vice president, strategy and business development in October 2006 and senior vice president of strategy and shared services in April 2009. Prior to joining the Company, Ms. Vaughn was executive vice president of business development and marketing, and acting chief financial officer from 2000 to 2001 for Link2Gov Corporation in Nashville. From 1993 to 1999, she was a consultant at McKinsey and Company in Atlanta.

Paul D. Williams, 58, Vice President and Chief Accounting Officer. Mr. Williams joined the Company in 1977, was named director of corporate accounting and financial reporting in 1993 and chief accounting officer in April 1995. He was named vice president in October 2006.

Matthew N. Johnson, 48, Treasurer. Mr. Johnson joined the Company in 1993 as manager, corporate finance and was elected assistant treasurer in December 1993. He was elected treasurer in June 1996. He was named vice president finance in October 2006 and renamed treasurer in April 2011. Prior to joining the Company, Mr. Johnson was a vice president in the corporate and institutional banking division of The First National Bank of Chicago.

16

PART II

ITEM 5, MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES

Market Information

The Company’s common stock is listed on the New York Stock Exchange (Symbol: GCO) and the Chicago Stock Exchange. The following table sets forth for the periods indicated the high and low sales prices of the common stock as shown in the New York Stock Exchange Composite Transactions listed in the Wall Street Journal.

Fiscal Year ended January 28

	High		Low
2012 1st Quarter	$	44.75	$	35.76
2nd Quarter	56.84		39.12
3rd Quarter	62.51		39.41
4th Quarter	64.93		54.32

Fiscal Year ended February 2

	High		Low
2013 1st Quarter	$	78.97	$	60.02
2nd Quarter	78.78		55.65
3rd Quarter	74.93		55.40
4th Quarter	63.26		50.33

There were approximately 2,900 common shareholders of record on March 15, 2013.

The Company has not paid cash dividends in respect of its common stock since 1973. The Company’s ability to pay cash dividends in respect of its common stock is subject to various restrictions. See Notes 6 and 8 to the Consolidated Financial Statements included in Item 8 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Sources of Liquidity” for information regarding restrictions on dividends and redemptions of capital stock.

Recent Sales of Unregistered Securities

None.

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Repurchases (shown in 000's except share and per share amounts):

ISSUER PURCHASES OF EQUITY SECURITIES

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of shares Purchased as Part of Publicly announced Plans or Programs	Maximum Number (or Approximate Dollar Value) of shares that May Yet Be Purchased Under the Plans or Programs (in thousands)
November 2012
10-28-12 to 11-24-12	—	$	—	—	$	—
December 2012
11-25-12 to 12-29-12(1)	151,989	$	53.17	151,989	$	58,323
January 2013
12-30-12 to 2-2-13(1)	2,804	$	52.02	2,804	$	58,177

(1) During the fourth quarter of Fiscal 2013, the Company repurchased shares of common stock under an existing $75.0 million authorization from the board of directors announced in the third quarter of Fiscal 2011. As of February 2, 2013, the Company had repurchased 299,506 shares at a cost of $16.8 million.

Equity Compensation Plan Information

Refer to Part III, Item 12.

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ITEM 6, SELECTED FINANCIAL DATA

Financial Summary

In Thousands except per common share data,	Fiscal Year End
financial statistics and other data	2013			2012			2011			2010			2009
Results of Operations Data
Net sales	$	2,604,817		$	2,291,987		$	1,789,839		$	1,574,352		$	1,551,562
Depreciation and amortization	63,697			53,737			47,738			47,462			46,833
Earnings from operations	167,970			143,870			86,083			60,422			259,626
Earnings from continuing operations before income taxes	162,939			138,778			84,961			50,488			250,714
Earnings from continuing operations	110,998			82,984			54,547			29,086			156,219
Provision for discontinued operations, net	(462		)	(1,025		)	(1,336		)	(273		)	(5,463		)
Net earnings	$	110,536		$	81,959		$	53,211		$	28,813		$	150,756
Per Common Share Data
Earnings from continuing operations
Basic	$	4.70		$	3.56		$	2.34		$	1.35		$	8.11
Diluted	4.62			3.48			2.29			1.31			6.72
Discontinued operations
Basic	(0.02		)	(0.04		)	(0.06		)	(0.02		)	(0.28		)
Diluted	(0.02		)	(0.05		)	(0.05		)	(0.01		)	(0.23		)
Net earnings
Basic	4.68			3.52			2.28			1.33			7.83
Diluted	4.60			3.43			2.24			1.30			6.49
Balance Sheet Data
Total assets	$	1,333,789		$	1,237,265		$	961,082		$	863,652		$	816,063
Long-term debt	50,682			40,704			—			—			113,735
Non-redeemable preferred stock	3,924			4,957			5,183			5,220			5,203
Common equity	804,667			710,404			619,135			577,093			444,552
Capital expenditures	71,737			49,456			29,299			33,825			49,420
Financial Statistics
Earnings from operations as a percent of net sales	6.4		%	6.3		%	4.8		%	3.8		%	16.7		%
Book value per share (common equity divided by common shares outstanding)	$	33.53		$	29.27		$	26.15		$	23.97		$	23.10
Working capital (in thousands)	$	406,217		$	290,850		$	278,692		$	280,415		$	259,137
Current ratio	2.5			2.0			2.2			2.7			2.9
Percent long-term debt to total capitalization	5.9		%	5.4		%	—		%	—		%	20.2		%
Other Data (End of Year)
Number of retail outlets*	2,459			2,387			2,309			2,276			2,234
Number of employees	22,700			21,475			15,200			13,925			13,775

* Includes 75 Schuh stores and concessions in Fiscal 2012 acquired June 23, 2011, 48 Sports Avenue stores in Fiscal 2011 acquired October 8, 2010, and 37 Sports Fan Attic stores in Fiscal 2010 acquired November 3, 2009. See Note 2 to the Consolidated Financial Statements.

19

Reflected in earnings from continuing operations for Fiscal 2012 was $7.4 million in acquisition related expenses. See Note 2 to the Consolidated Financial Statements for additional information.

Reflected in earnings from continuing operations for Fiscal 2009 was a $204.1 million gain on the settlement of merger-related litigation.

Reflected in earnings from continuing operations for Fiscal 2009 were $8.0 million in merger-related costs and litigation expenses. These expenses were deductible for tax purposes in Fiscal 2009.

Reflected in earnings from continuing operations for Fiscal 2013, 2012, 2011, 2010 and 2009 were asset impairment and other charges of $17.0 million, $2.7 million, $8.6 million, $13.4 million and $7.5 million, respectively. See Note 3 to the Consolidated Financial Statements for additional information regarding these charges.

Long-term debt includes current obligations. In January 2011, the Company entered into the second amended and restated credit agreement in the aggregate principal amount of $300.0 million. In June 2011, the Company entered into a first amendment to the second amended and restated credit agreement to raise the aggregate principal amount to $375.0 million. During Fiscal 2010, the Company entered into separate exchange agreements whereby it acquired and retired all $86.2 million in aggregate principal amount of its Debentures due June 15, 2023 in exchange for the issuance of 4,552,824 shares of its common stock. As a result of the exchange agreements and conversions, the Company recognized a loss on the early retirement of debt of $5.5 million reflected in earnings from continuing operations. See Note 6 to the Consolidated Financial Statements for additional information regarding the Company’s debt.

The Company has not paid dividends on its Common Stock since 1973. See Notes 6 and 8 to the Consolidated Financial Statements and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Sources of Liquidity” for a description of limitations on the Company’s ability to pay dividends.

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ITEM 7, MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS

Forward Looking Statements

This discussion and the notes to the Consolidated Financial Statements, as well as Item 1, Business, include certain forward-looking statements, which include statements regarding our intent, belief or expectations and all statements other than those made solely with respect to historical fact. Actual results could differ materially from those reflected by the forward-looking statements in this discussion and a number of factors may adversely affect the forward looking statements and the Company’s future results, liquidity, capital resources or prospects. These include, but are not limited to, the amount of required accruals related to the earn-out bonus potentially payable to Schuh management based on the achievement of certain performance objectives, the timing and amount of non-cash asset impairments related to retail store fixed assets or to intangible assets of acquired businesses, weakness in the consumer economy, competition in the Company’s markets, inability of customers to obtain credit, fashion trends that affect the sales or product margins of the Company’s retail product offerings, changes in buying patterns by significant wholesale customers, bankruptcies or deterioration in financial condition of significant wholesale customers, disruptions in product supply or distribution, unfavorable trends in fuel costs, foreign exchange rates, foreign labor and materials costs, and other factors affecting the cost of products, the Company’s ability to continue to complete and integrate acquisitions, expand its business and diversify its product base and changes in the timing of holidays or in the onset of seasonal weather affecting period-to-period sales comparisons. Additional factors that could affect the Company’s prospects and cause differences from expectations include the ability to build, open, staff and support additional retail stores and to renew leases in existing stores and maintain reductions in occupancy costs achieved in recent lease negotiations, and to conduct required remodeling or refurbishment on schedule and at expected expense levels, deterioration in the performance of individual businesses or of the Company’s market value relative to its book value, resulting in impairments of fixed assets or intangible assets or other adverse financial consequences, unexpected changes to the market for the Company’s shares, variations from expected pension-related charges caused by conditions in the financial markets, and the outcome of litigation, investigations and environmental matters involving the Company. For a discussion of additional risk factors, see Item 1A, Risk Factors.

Overview

Description of Business

The Company’s business includes the design and sourcing, marketing and distribution of footwear and accessories through retail stores, including Journeys^®, Journeys Kidz^®, Shi by Journeys^®, Underground by Journeys^® and Johnston & Murphy^® in the U.S., Puerto Rico and Canada and through Schuh^® stores in the United Kingdom and the Republic of Ireland, and through e-commerce websites and catalogs, and at wholesale, primarily under the Company’s Johnston & Murphy brand, the licensed Dockers^® brand, and other brands that the Company licenses for men’s footwear. The Company’s wholesale footwear brands are distributed to more than 1,025 retail accounts in the United States, including a number of leading department, discount, and specialty stores. The Company’s business also includes Lids Sports, which operates (i) headwear and accessory stores under the Lids^® name and other names in the U.S., Puerto Rico and Canada, (ii) the Lids Locker Room business, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, (iii) the Lids Clubhouse business, consisting of fan shops, (iv) e-commerce business and (v) an athletic team dealer business operating as Lids Team Sports. Including both the footwear businesses and the Lids Sports business, at February 2, 2013, the Company operated 2,459 retail stores in the U.S., Puerto Rico, Canada, the United Kingdom and the Republic of Ireland.

During Fiscal 2013, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations; (ii) Schuh Group, acquired in June 2011, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised as described in the preceding paragraph; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution; and (v) Licensed Brands, comprised of Dockers^® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip^®Footwear, occupational footwear primarily sold directly to consumers; and other footwear brands.

The Journeys retail footwear stores sell footwear and accessories primarily for 13 to 22 year old men and women. The stores average approximately 1,975 square feet. The Journeys Kidz retail footwear stores sell footwear primarily for younger children, ages five to 12. These stores average approximately 1,425 square feet. Shi by Journeys retail footwear stores sell footwear and accessories to fashion-conscious women in their early 20’s to mid 30’s. These stores average approximately 2,125 square feet. The Underground by Journeys retail footwear stores sell footwear and accessories primarily for men and women in the 20 to 35 age group. These stores average approximately 1,825 square feet. The Journeys Group stores are primarily in malls and factory outlet centers throughout the United States, Puerto Rico and Canada. The Journeys Group

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operates 24 stores in Canada. Journeys also sells footwear and accessories through direct-to-consumer catalog and e-commerce operations.

The Schuh retail footwear stores sell a broad range of branded casual and athletic footwear along with a meaningful private label offering primarily for 15 to 30 year old men and women. The stores, which average approximately 4,300 square feet, include both street-level and mall locations in the United Kingdom and the Republic of Ireland. During the third quarter of Fiscal 2013, the Schuh Group opened its first Schuh Kids store. As of February 2, 2013, the Company has opened three Schuh Kids stores that sell footwear primarily for younger children, ages five to 12, and average 1,075 square feet. The Schuh Group also operates 13 footwear concessions in Republic apparel stores in the United Kingdom averaging approximately 1,175 square feet, and sells footwear through e-commerce operations.

The Lids Sports Group includes stores and kiosks, primarily under the Lids banner, that sell licensed and branded headwear to men and women primarily in the early-teens to mid-20’s age group. The Lids store locations average approximately 850 square feet and are primarily in malls, airports, street-level stores and factory outlet centers throughout the United States, Puerto Rico and Canada. The Lids Sports Group also operates Lids Locker Room and Lids Clubhouse stores under a number of trade names, selling licensed sports headwear, apparel and accessories to sports fans of all ages in locations averaging approximately 2,975 square feet in malls and other locations primarily in the United States. The Lids Sports Group operates 98 stores in Canada. The Lids Sports Group also sells headwear and accessories through e-commerce operations. In addition, the Lids Sports Group operates Lids Team Sports, an athletic team dealer business.

Johnston & Murphy retail shops sell a broad range of men’s footwear, luggage and accessories. Women’s footwear and accessories are sold in select Johnston & Murphy retail locations. Johnston & Murphy shops average approximately 1,525 square feet and are located primarily in better malls and in airports throughout the United States and in Canada. Johnston & Murphy opened its first store in Canada during the fourth quarter of Fiscal 2012. As of February 2, 2013, Johnston & Murphy operates five stores in Canada. The Company also has license and distribution agreements for wholesale and retail sales of Johnston & Murphy products in various non - U.S. jurisdictions. The Company also sells Johnston & Murphy footwear and accessories in factory stores, averaging approximately 2,350 square feet, located in factory outlet malls, and through an e-commerce operation and a direct-to-consumer catalog. In addition, Johnston & Murphy shoes are also distributed through the Company’s wholesale operations to better department and independent specialty stores.

The Licensed Brands segment markets casual and dress casual footwear under the licensed Dockers^® brand to men aged 30 to 55 through many of the same national retail chains that carry Dockers slacks and sportswear and in department and specialty stores across the country. The Company entered into an exclusive license with Levi Strauss & Co. to market men’s footwear in the United States under the Dockers brand name in 1991. Levi Strauss & Co. and the Company have subsequently added additional territories, including Canada and Mexico and in certain other Latin American countries. The Dockers license agreement was renewed July 23, 2012 for a term expiring November 30, 2015, subject to extension for an additional 3-year term if certain conditions are met. The Company acquired Keuka Footwear in the third quarter of Fiscal 2011 and subsequently launched its SureGrip^® Footwear line of slip-resistant, occupational footwear from that base. The Company sources and distributes the SureGrip line to employees in the hospitality, healthcare, and other industries.

Strategy

The Company’s long-term strategy has been to seek organic growth by: 1) increasing the Company’s store base, 2) increasing retail square footage, 3) improving comparable sales, 4) increasing operating margin and 5) enhancing the value of its brands. The pace of the Company’s organic growth may be limited by saturation of its markets and by economic conditions. In Fiscal 2010, the Company slowed the pace of new store openings and focused on inventory management and cash flow in response to economic conditions. The Company also focused on opportunities provided by the economic climate to negotiate occupancy cost reductions, especially where lease provisions triggered by sales shortfalls or declining occupancy of malls would permit the Company to terminate leases. To address potential saturation of the U.S. market, certain of the Company’s retail businesses have opened retail stores in Canada, beginning in Fiscal 2011. The Company also opened its first Schuh Kids store in Scotland during the third quarter of Fiscal 2013.

To further supplement its organic growth potential, the Company has made acquisitions, including the acquisition of the Schuh Group in June 2011 and several smaller acquisitions of businesses in the Lids Sports Group's markets, and expects to consider acquisition opportunities, either to augment its existing businesses or to enter new businesses that it considers compatible with its existing businesses, core expertise and strategic profile. Acquisitions involve a number of risks, including, among others, inaccurate valuation of the acquired business, the assumption of undisclosed liabilities, the failure to integrate the acquired business appropriately, and distraction of management from existing businesses. The Company seeks to mitigate these risks by applying appropriate financial metrics in its valuation analysis and developing and executing plans for due diligence and integration that are appropriate to each acquisition.

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More generally, the Company attempts to develop strategies to mitigate the risks it views as material, including those discussed under the caption “Forward Looking Statements,” above, and those discussed in Item 1A, Risk Factors. Among the most important of these factors are those related to consumer demand. Conditions in the economy can affect demand, resulting in changes in sales and, as prices are adjusted to drive sales and manage inventories, in gross margins. Because fashion trends influencing many of the Company’s target customers can change rapidly, the Company believes that its ability to react quickly to those changes has been important to its success. Even when the Company succeeds in aligning its merchandise offerings with consumer preferences, those preferences may affect results by, for example, driving sales of products with lower average selling prices or products which are more widely available in the marketplace and thus more subject to competitive pressures than the Company's typical offering. Moreover, economic factors, such as the relatively high level of unemployment and any future economic contraction and changes in tax policy, may reduce the consumer’s disposable income or his or her willingness to purchase discretionary items, and thus may reduce demand for the Company’s merchandise, regardless of the Company’s skill in detecting and responding to fashion trends. The Company believes its experience and discipline in merchandising and the buying power associated with its relative size and importance in the industry segments in which it competes are important to its ability to mitigate risks associated with changing customer preferences and other changes in consumer demand.

Summary of Results of Operations

The Company’s net sales increased 13.6% during Fiscal 2013 compared to Fiscal 2012. The increase reflected (i) the acquisition of the Schuh Group in the second quarter last year, which contributed $370.5 million in sales during Fiscal 2013 compared to $212.3 million in sales during Fiscal 2012, (ii) a 9% increase in Journeys Group sales, (iii) an 11% increase in Licensed Brands sales, (iv) a 10% increase in Johnston & Murphy Group sales, and (v) a 4% increase in Lids Sports Group sales. Included in Fiscal 2013 was a 53rd week compared to a 52-week year for Fiscal 2012. Excluding the 53rd week, sales would have increased 12.1% for Fiscal 2013. Gross margin decreased as a percentage of net sales during Fiscal 2013, reflecting gross margin decreases in Lids Sports Group and Johnston & Murphy Group, partially offset by increased gross margin in Journeys Group and Schuh Group. Licensed Brands' gross margin was flat. Selling and administrative expenses decreased as a percentage of net sales during Fiscal 2013, reflecting expense decreases as a percentage of net sales in Journeys Group, Lids Sports Group and Johnston & Murphy Group, partially offset by increased expenses as a percentage of net sales in Schuh Group and Licensed Brands. Earnings from operations increased as a percentage of net sales during Fiscal 2013, reflecting improved earnings from operations in Journeys Group and Johnston & Murphy Group, partially offset by decreased earnings in Schuh Group and Licensed Brands. Earnings as a percentage of net sales were flat in Lids Sports Group.

Significant Developments

Schuh Acquisition

On June 23, 2011, the Company, through its newly-formed, wholly-owned subsidiary Genesco (UK) Limited (“Genesco UK”), completed the acquisition of all the outstanding shares of Schuh Group Ltd. (“Schuh”) for a total purchase price of approximately £100.0 million, less £29.5 million outstanding under existing Schuh credit facilities, which remain in place, less a £1.9 million working capital adjustment and plus £6.2 million net cash acquired, with £5.0 million withheld and payable in June 2013. The Company financed the acquisition with borrowings under its existing credit facility and the balance from cash on hand. The purchase agreement also provides for deferred purchase price payments totaling £25 million, payable £15 million and £10 million on the third and fourth anniversaries of the closing, respectively, subject to the payees’ not having terminated their employment with Schuh under certain specified circumstances. This amount will be recorded as compensation expense and not reported as a component of the cost of the acquisition.

Headquartered in Scotland, Schuh is a specialty retailer of casual and athletic footwear sold through 79 retail stores in the United Kingdom and the Republic of Ireland and 13 concessions in Republic apparel stores as of February 2, 2013. The Company completed the acquisition in order to enhance its strategic development and prospects for growth and provide the Company with an established retail presence in the United Kingdom and improved insight into global fashion trends. The results of Schuh’s operations for Fiscal 2013 include net sales of $370.5 million and operating earnings of $7.9 million, and have been included in the Company’s Consolidated Financial Statements for all of Fiscal 2013. The results of Schuh's operations for the fiscal year from the date of acquisition through January 28, 2012, including net sales of $212.3 million and operating earnings of $11.7 million, have been included in the Company's Consolidated Financial Statements for the fiscal year ended January 28, 2012. During the fiscal year ended January 28, 2012, the Company expensed $7.4 million in costs related to the acquisition. These costs were recorded as selling and administrative expenses on the Consolidated Statement of Operations. During Fiscal 2013, compensation expense related to the Schuh acquisition deferred purchase price obligation was $12.1 million, compared to $7.2 million in Fiscal 2012. This expense is included in the operating earnings for the Schuh Group segment.

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Other Acquisitions

In Fiscal 2013, the Company completed other acquisitions of small retail chains for a total purchase price of $23.8 million. The stores acquired will be operated within the Lids Sports Group.

Network Intrusion

On December 10, 2010, the Company announced that it had suffered a criminal intrusion into the portion of its computer network that processes payments for transactions in certain of its retail stores. Visa, Inc., MasterCard Worldwide and American Express Travel Related Services Company, Inc. have asserted claims totaling approximately $15.6 million in connection with the intrusion and the claims of two of the claimants have been collected by withholding payment card receivables of the Company. In the fourth quarter of Fiscal 2013, the Company recorded a $15.4 million charge to earnings in connection with the disputed liability. On March 7, 2013, the Company filed an action in the U.S. District Court for the Middle District of Tennessee against Visa U.S.A. Inc., Visa Inc. and Visa International Service Association seeking to recover $13.3 million in non-compliance fines and issuer reimbursement assessments collected from the Company in connection with the intrusion. The Company does not currently expect any future claims in connection with the intrusion to have a material effect on its financial condition, cash flows, or results of operations.

Asset Impairment and Other Charges

The Company recorded a pretax charge to earnings of $17.0 million in Fiscal 2013, including $15.6 million for network intrusion expenses, $1.4 million for retail store asset impairments, and $0.1 million for other legal matters.

The Company recorded a pretax charge to earnings of $2.7 million in Fiscal 2012, including $1.1 million for retail store asset impairments, $0.9 million for other legal matters and $0.7 million for network intrusion expenses.

The Company recorded a pretax charge to earnings of $8.6 million in Fiscal 2011, including $7.2 million for retail store asset impairments, $1.3 million for network intrusion expenses and $0.1 million for other legal matters.

Postretirement Benefit Liability Adjustments

The return on pension plan assets was $11.2 million for Fiscal 2013, compared to an expected return of $7.0 million. The discount rate used to measure benefit obligations decreased from 4.35% to 4.00% in Fiscal 2013. As a result of the increase in the return on plan assets, partially offset by the decreased discount rate, the pension liability reflected in the Consolidated Balance Sheets decreased to $20.5 million compared to $22.2 million in Fiscal 2012. There was a decrease in the pension liability adjustment of $3.7 million (net of tax) in accumulated other comprehensive income in equity. Depending upon future interest rates and returns on plan assets and other factors, there can be no assurance that additional adjustments in future periods will not be required.

Discontinued Operations

In Fiscal 2013, the Company recorded an additional charge to earnings of $0.8 million ($0.5 million net of tax) reflected in discontinued operations primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company. For additional information, see Note 13 to the Consolidated Financial Statements.

In Fiscal 2012, the Company recorded an additional charge to earnings of $1.7 million ($1.0 million net of tax) reflected in discontinued operations, including $1.8 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.1 million gain for excess provisions to prior discontinued operations. For additional information, see Note 13 to the Consolidated Financial Statements.

In Fiscal 2011, the Company recorded an additional charge to earnings of $2.2 million ($1.3 million net of tax) reflected in discontinued operations, including $2.9 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.7 million gain for excess provisions to prior discontinued operations. For additional information, see Note 13 to the Consolidated Financial Statements.

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Critical Accounting Policies

Inventory Valuation

As discussed in Note 1 to the Consolidated Financial Statements, the Company values its inventories at the lower of cost or market.

In its footwear wholesale operations, its Schuh Group segment and its Lids Sports Group wholesale operations, except for the Anaconda Sports wholesale division, cost is determined using the first-in, first-out method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company.

The Lids Sports Group retail segment and its Anaconda Sports wholesale division employ the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate.

In its retail operations, other than the Schuh Group and Lids Sports Group retail segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories.

Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates.

Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value. A change of 10 percent from the recorded provisions for markdowns, shrinkage and damaged goods would have changed inventory by $0.8 million at February 2, 2013.

Impairment of Long-Lived Assets

As discussed in Note 1 to the Consolidated Financial Statements, the Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets.

The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its annual test, which is completed in the fourth quarter each year, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth

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rates in sales, costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements.

If the carrying value of the business unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference.

As a result of the various acquisitions comprising the Lids Team Sports team dealer business, the Company carries goodwill at a value of $14.0 million on its Consolidated Balance Sheets related to such acquisitions. The Company found that the result of its annual impairment test, which valued the business at approximately $2.8 million in excess of its carrying value, indicated no impairment at that time. The Company may determine in future impairment tests that some or all of the carrying value of the goodwill may not be recoverable. Such a finding would require a write-off of the amount of the carrying value that is impaired, which would reduce the Company's profitability in the period of the impairment charge. Holding all other assumptions constant as of the measurement date, the Company noted that an increase in the weighted average cost of capital of 100 basis points would reduce the fair value of the Lids Team Sports business by $7.4 million. Furthermore, the Company noted that a decrease in projected annual revenue growth by one percent would reduce the fair value of the Lids Team Sports business by $0.4 million. However, if other assumptions do not remain constant, the fair value of the Lids Team Sports business may decrease by a greater amount. Since the maximum non-cash goodwill impairment charge would be $14.0 million, the Company does not believe that any impairment charge related thereto would be material.

Environmental and Other Contingencies

The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters, including those disclosed in Note 13 to the Company’s Consolidated Financial Statements. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million reflected in Fiscal 2013, $1.8 million reflected in Fiscal 2012 and $2.9 million reflected in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s reserves and accruals in relation to each of them, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its reserve in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional reserves, that some or all reserves will be adequate or that the amounts of any such additional reserves or any such inadequacy will not have a material adverse effect upon the Company’s financial condition or results of operations.

Revenue Recognition

Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at time of delivery to the customer and are net of estimated returns and exclude sales and value of added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience.

Income Taxes

As part of the process of preparing Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating actual current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Consolidated Balance Sheets. The Company then assesses the

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likelihood that its deferred tax assets will be recovered from future taxable income. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any other potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At February 2, 2013, the Company had a deferred tax valuation allowance of $3.5 million.

Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification (“Codification”). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results. See Note 9 to the Company’s Consolidated Financial Statements for additional information regarding income taxes.

The Company recorded an effective income tax rate of 31.9% for Fiscal 2013 compared to 40.2% for 2012. This year's tax rate is lower primarily due to the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions.

Postretirement Benefits Plan Accounting

Full-time employees who had at least 1,000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with limited medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act.

As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in their Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur.

The Company accounts for the defined benefit pension plans using the Compensation-Retirement Benefits Topic of the Codification. As permitted under this topic, pension expense is recognized on an accrual basis over employees’ approximate service periods. The calculation of pension expense and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions.

Long Term Rate of Return Assumption – Pension expense increases as the expected rate of return on pension plan assets decreases. The Company estimates that the pension plan assets will generate a long-term rate of return of 7.75%. To develop this assumption, the Company considered historical asset returns, the current asset allocation and future expectations of asset returns. The expected long-term rate of return on plan assets is based on a long-term investment policy of 50% U.S. equities, 13% international equities, 35% U.S. fixed income securities and 2% cash equivalents. For Fiscal 2013, if the expected rate of return had been decreased by 1%, net pension expense would have increased by $0.9 million, and if the expected rate of return had been increased by 1%, net pension expense would have decreased by $0.9 million.

Discount Rate – Pension liability and future pension expense increase as the discount rate is reduced. The Company discounted future pension obligations using a rate of 4.00%, 4.35% and 5.25% for Fiscal 2013, 2012 and 2011, respectively. The discount rate at February 2, 2013 was determined based on a yield curve of high quality corporate bonds with cash flows matching the Company’s plans’ expected benefit payments. For Fiscal 2013, if the discount rate had been increased by 0.5%, net pension expense would have decreased by $0.6 million, and if the discount rate had been decreased by 0.5%,

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net pension expense would have increased by $0.6 million. In addition, if the discount rate had been increased by 0.5%, the projected benefit obligation would have decreased by $6.0 million and the accumulated benefit obligation would have decreased by $6.0 million. If the discount rate had been decreased by 0.5%, the projected benefit obligation would have been increased by $6.6 million and the accumulated benefit obligation would have increased by $6.6 million.

Amortization of Gains and Losses – The Company utilizes a calculated value of assets, which is an averaging method that recognizes changes in the fair values of assets over a period of five years. At the end of Fiscal 2013, the Company had unrecognized actuarial losses of $42.9 million. Accounting principles generally accepted in the United States require that the Company recognize a portion of these losses when they exceed a calculated threshold. These losses might be recognized as a component of pension expense in future years and would be amortized over the average future service of employees, which is currently approximately six years. Future changes in plan asset returns, assumed discount rates and various other factors related to the pension plan will impact future pension expense and liabilities, including increasing or decreasing unrecognized actuarial gains and losses.

The Company recognized expense for its defined benefit pension plans of $4.3 million, $2.8 million and $2.3 million in Fiscal 2013, 2012 and 2011, respectively. The Company’s board of directors approved freezing the Company’s defined pension benefit plan effective January 1, 2005. The Company’s pension expense is expected to increase in Fiscal 2014 by approximately $0.4 million due to a larger actuarial loss to be amortized.

Share-Based Compensation

The Company has share-based compensation plans covering certain members of management and non-employee directors. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification. For Fiscal 2013, 2012 and 2011, share-based compensation expense was $0.0, less than $1,000 and $0.2 million, respectively. The Company did not issue any new share-based compensation awards in Fiscal 2013, 2012 or 2011. For Fiscal 2013, 2012 and 2011, restricted stock expense was $10.5 million, $7.7 million and $7.8 million, respectively. The fair value of employee restricted stock is determined based on the closing price of the Company’s stock on the date of the grant. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.

Comparable Sales

During Fiscal 2013, the Company revised its presentation of comparable sales to include its e-commerce and direct mail catalog businesses. Prior year comparable sales have been adjusted to conform to the current year presentation. Comparable sales are sales from stores open longer than one year, beginning in the fifty-third week of a store’s operation, and sales of websites operated longer than one year and direct mail catalog sales. Temporarily closed stores are excluded from the comparable store sales calculation for every full week of the store closing. Expanded stores are excluded from the comparable store sales calculation until the fifty-third week of operation in the expanded format.

Results of Operations—Fiscal 2013 Compared to Fiscal 2012

The Company’s net sales for Fiscal 2013 (53 weeks) increased 13.6% to $2.60 billion from $2.29 billion in Fiscal 2012 (52 weeks). The increase in net sales was a result of the inclusion of Schuh Group for the full year in Fiscal 2013, an estimated $35.2 million impact of sales for the fifty-third week and an increase in comparable sales in the Journeys Group, Schuh Group and Johnston & Murphy Group, combined with increased sales in Licensed Brands, offset by decreased comparable sales in Lids Sports Group. Gross margin increased 13.1% to $1.30 billion in Fiscal 2013 from $1.15 billion in Fiscal 2012, but decreased as a percentage of net sales from 50.1% to 49.8%, primarily reflecting decreased gross margin as a percentage of net sales in the Lids Sports and Johnston & Murphy Groups, offset slightly by increased gross margin as a percentage of net sales in the Journeys and Schuh Groups, while Licensed Brands' gross margin was flat. Selling and administrative expenses in Fiscal 2013 increased 11.2% from Fiscal 2012 but decreased as a percentage of net sales from 43.7% to 42.7%, primarily reflecting expense leverage in the Johnston & Murphy, Journeys and Lids Sports Groups due to positive comparable sales in the Journeys and Johnston & Murphy Groups and increased wholesale sales in the Johnston & Murphy Group. The Company records buying and merchandising and occupancy costs in selling and administrative expense. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin. Explanations of the changes in results of operations are provided by business segment in discussions following these introductory paragraphs.

Earnings from continuing operations before income taxes (“pretax earnings”) for Fiscal 2013 were $162.9 million, compared to $138.8 million for Fiscal 2012. Pretax earnings for Fiscal 2013 included asset impairment and other charges of $17.0 million, including $15.5 million for expenses related to the computer network intrusion announced in December 2010, $1.4 million for retail store asset impairments and $0.1 million for other legal matters. Pretax earnings for Fiscal 2012 included

28

asset impairment and other charges of $2.7 million, including $1.1 million for retail store asset impairments, $0.9 million for other legal matters and $0.7 million for expenses related to the computer network intrusion.

Net earnings for Fiscal 2013 were $110.5 million ($4.60 diluted earnings per share) compared to $82.0 million ($3.43 diluted earnings per share) for Fiscal 2012. Net earnings for Fiscal 2013 includes $0.5 million ($0.02 diluted loss per share) charge to earnings (net of tax), primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company. Net earnings for Fiscal 2012 includes $1.0 million ($0.05 diluted loss per share) charge to earnings (net of tax), including $1.1 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.1 million gain for excess provisions to prior discontinued operations. The Company recorded an effective federal income tax rate of 31.9% for Fiscal 2013 compared to 40.2% for Fiscal 2012. This year’s lower effective tax rate of 31.9% reflects the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions. See Note 9 to the Consolidated Financial Statements for additional information.

Journeys Group

	Fiscal Year Ended						% Change
	2013			2012
	(dollars in thousands)
Net sales	$	1,111,490		$	1,020,116		9.0	%
Earnings from operations	$	106,929		$	82,452		29.7	%
Operating margin	9.6		%	8.1		%

Net sales from Journeys Group increased 9.0% to $1.11 billion for Fiscal 2013 from $1.02 billion for Fiscal 2012. The increase reflects primarily a 6% increase in same store sales, an 8% increase in comparable direct sales and a 6% increase in comparable sales, including both store and direct sales. The comparable store sales increase reflected a 6% increase in the average price per pair of shoes, offset by a 1% decrease in footwear unit comparable sales. Total unit sales increased 2% during the same period. The store count for Journeys Group was 1,157 stores at the end of Fiscal 2013, including 156 Journeys Kidz stores, 51 Shi by Journeys stores, 130 Underground by Journeys stores and 24 Journeys stores in Canada, compared to 1,154 stores at the end of Fiscal 2012, including 152 Journeys Kidz stores, 53 Shi by Journeys stores, 137 Underground by Journeys stores and 13 Journeys stores in Canada.

Journeys Group earnings from operations for Fiscal 2013 increased 29.7% to $106.9 million, compared to $82.5 million for Fiscal 2012. The increase in earnings from operations was primarily due to increased net sales, increased gross margin as a percentage of net sales, reflecting lower markdowns, and to decreased expenses as a percentage of net sales, reflecting leverage of store related costs, including occupancy costs and depreciation, and lower bonus accruals.

Schuh Group

	Fiscal Year Ended						% Change
	2013			2012
	(dollars in thousands)
Net sales	$	370,480		$	212,262		74.5%
Earnings from operations	$	7,875		$	11,711		(32.8%)
Operating margin	2.1		%	5.5		%

Net sales from the Schuh Group increased 74.5% to $370.5 million for Fiscal 2013, compared to $212.3 million for Fiscal 2012. Net sales for Schuh Group in Fiscal 2012 included sales only for the seven months after the Company acquired Schuh on June 23, 2011. The sales increase also reflects a 7% increase in same store sales, a 13% increase in comparable direct sales and an 8% increase in comparable sales, including both store and direct sales for the seven months ended February 2, 2013. Schuh Group operated 79 stores, including three Schuh Kids stores, and 13 concessions at the end of Fiscal 2013 compared to 64 stores and 14 concessions at the end of Fiscal 2012.

Schuh Group earnings from operations were $7.9 million for Fiscal 2013 compared to $11.7 million for Fiscal 2012. The earnings included $12.1 million this year and $7.2 million last year in compensation expense related to a deferred purchase price obligation in connection with the acquisition. The earnings also included $15.8 million this year and $4.9 million

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last year related to accruals for a contingent bonus payment for Schuh employees provided for in the Schuh acquisition. The decrease in earnings is due to the increase in expense associated with both the deferred purchase price and contingent bonus payment. See Note 2 to the Consolidated Financial Statements for additional information related to the Schuh acquisition.

Lids Sports Group

	Fiscal Year Ended						% Change
	2013			2012
	(dollars in thousands)
Net sales	$	791,255		$	759,324		4.2	%
Earnings from operations	$	85,794		$	82,349		4.2	%
Operating margin	10.8		%	10.8		%

Net sales from the Lids Sports Group increased 4.2% to $791.3 million for Fiscal 2013 from $759.3 million for Fiscal 2012. The increase primarily reflects a 3% increase in average Lids Sports Group stores operated. Same store sales decreased 4%, comparable direct sales increased 9% and comparable sales, including both store and direct sales, decreased 3% for Fiscal 2013. The comparable sales decrease reflected a 1% decrease in average price per hat and a 1% decrease in comparable store hat units sold. The comparable sales decrease reflects the current popularity of adjustable "snap-back" hat styles, which have displaced some demand for fitted merchandise. Management believes that the relative ease of merchandising non-fitted hats has enabled a variety of non-headwear retailers to carry the adjustable styles, increasing competition in the category. Lids Sports Group operated 1,053 stores at the end of Fiscal 2013, including 98 Lids stores in Canada and 144 Lids Locker Room and Clubhouse stores, compared to 1,002 stores at the end of Fiscal 2012, including 82 Lids stores in Canada and 120 Lids Locker Room and Clubhouse stores.

Lids Sports Group earnings from operations for Fiscal 2013 increased 4.2% to $85.8 million compared to $82.3 million for Fiscal 2012. The increase in operating income was primarily due to increased net sales and decreased expenses as a percentage of net sales, primarily reflecting decreased accruals for bonus compensation.

Johnston & Murphy Group

	Fiscal Year Ended						% Change
	2013			2012
	(dollars in thousands)
Net sales	$	221,860		$	201,725		10.0	%
Earnings from operations	$	15,737		$	13,682		15.0	%
Operating margin	7.1		%	6.8		%

Johnston & Murphy Group net sales increased 10.0% to $221.9 million for Fiscal 2013 from $201.7 million for Fiscal 2012. The increase reflected primarily a 3% increase in same store sales, a 13% increase in comparable direct sales and a 4% increase in comparable sales, including both store and direct sales, and a 21% increase in Johnston & Murphy wholesale sales slightly offset by a 1% decrease in average stores operated (i.e. the sum of the number of stores open on the first day of the fiscal year and the last day of each fiscal month during the year divided by thirteen) for Johnston & Murphy retail operations. Unit sales for the Johnston & Murphy wholesale business increased 25% in Fiscal 2013, while the average price per pair of shoes decreased 3% for the same period. Retail operations accounted for 71.7% of the Johnston & Murphy Group's sales in Fiscal 2013, down from 74.3% in Fiscal 2012. The comparable sales increase in Fiscal 2013 reflects a 4% increase in the average price per pair of shoes for Johnston & Murphy retail operations, primarily associated with increased sales of higher-priced dress shoes, while footwear unit comparable sales were flat. The store count for Johnston & Murphy retail operations at the end of Fiscal 2013 included 157 Johnston & Murphy shops and factory stores, including five stores in Canada, compared to 153 Johnston & Murphy shops and factory stores, including one store in Canada, at the end of Fiscal 2012.

Johnston & Murphy earnings from operations for Fiscal 2013 increased 15.0% to $15.7 million from $13.7 million for Fiscal 2012, primarily due to increased net sales.

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Licensed Brands

	Fiscal Year Ended						% Change
	2013			2012
	(dollars in thousands)
Net sales	$	108,498		$	97,444		11.3	%
Earnings from operations	$	10,064		$	9,456		6.4	%
Operating margin	9.3		%	9.7		%

Licensed Brands’ net sales increased 11.3% to $108.5 million for Fiscal 2013 from $97.4 million for Fiscal 2012. The sales increase reflects $5.6 million of increased sales from Dockers Footwear as well as increased sales of SureGrip Footwear and the Chaps line of footwear. Unit sales for Dockers Footwear increased 4% for Fiscal 2013 and the average price per pair of shoes increased 3% for the same period.

Licensed Brands’ earnings from operations for Fiscal 2013 increased 6.4%, from $9.5 million for Fiscal 2012 to $10.1 million, primarily due to increased net sales, partially offset by higher bonus accruals.

Corporate, Interest Expenses and Other Charges

Corporate and other expense for Fiscal 2013 was $58.4 million compared to $55.8 million for Fiscal 2012. Corporate expense in Fiscal 2013 included $17.0 million in asset impairment and other charges, primarily for network intrusion expenses, retail store asset impairments and other legal matters. Corporate expense in Fiscal 2012 included $2.7 million in asset impairment and other charges, primarily for retail store asset impairments, other legal matters and network intrusion expenses and $7.4 million in acquisition related expenses. Excluding the charges listed above, corporate and other expense decreased primarily due to lower bonus accruals.

Interest expense decreased 0.6% from $5.2 million in Fiscal 2012 to $5.1 million in Fiscal 2013.

Results of Operations—Fiscal 2012 Compared to Fiscal 2011

The Company’s net sales for Fiscal 2012 increased 28.1% to $2.29 billion from $1.79 billion in Fiscal 2011. The increase in net sales was a result of an increase in comparable sales in the Lids Sports Group, Journeys Group and Johnston & Murphy Group, combined with $274.2 million of sales from businesses acquired over the past twelve months, offset slightly by lower sales in Licensed Brands and Underground Station Group. Gross margin increased 27.8% to $1.15 billion in Fiscal 2012 from $898.1 million in Fiscal 2011 and was down slightly as a percentage of net sales at 50.1%. Selling and administrative expenses in Fiscal 2012 increased 24.6% from Fiscal 2011 but decreased as a percentage of net sales from 44.9% to 43.7%, primarily reflecting expense leverage in the Lids Sports Group, Journeys Group, Johnston & Murphy Group and Underground Station Group due to positive comparable sales and increased wholesale sales in the Johnston & Murphy Group. The Company records buying and merchandising and occupancy costs in selling and administrative expense. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin. Explanations of the changes in results of operations are provided by business segment in discussions following these introductory paragraphs.

Pretax earnings for Fiscal 2012 were $138.8 million, compared to $85.0 million for Fiscal 2011. Pretax earnings for Fiscal 2012 included asset impairment and other charges of $2.7 million, including $1.1 million for retail store asset impairments, $0.9 million for other legal matters and $0.7 million for expenses related to the computer network intrusion announced in December 2010. Pretax earnings for Fiscal 2011 included asset impairment and other charges of $8.6 million, including $7.2 million for retail store asset impairments, $1.3 million for expenses related to the computer network intrusion and $0.1 million for other legal matters.

Net earnings for Fiscal 2012 were $82.0 million ($3.43 diluted earnings per share) compared to $53.2 million ($2.24 diluted earnings per share) for Fiscal 2011. Net earnings for Fiscal 2012 includes $1.0 million ($0.05 diluted loss per share) charge to earnings (net of tax), including $1.1 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.1 million gain for excess provisions to prior discontinued operations. Net earnings for Fiscal 2011 includes $1.3 million ($0.05 diluted loss per share) charge to earnings (net of tax), including $1.8 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.5 million gain for excess provisions to prior discontinued operations. The Company recorded an effective federal income tax rate of 40.2% for Fiscal 2012 compared to 35.8% for Fiscal 2011. Fiscal 2012's higher effective tax rate of 40.2% reflects transaction costs and deferred purchase price related to the Schuh acquisition,

31

which are considered permanent differences. Fiscal 2011's lower effective tax rate of 35.8% reflects the net reduction of the Company’s liability for uncertain tax positions of $1.3 million in Fiscal 2011. See Note 9 to the Consolidated Financial Statements for additional information.

Journeys Group

	Fiscal Year Ended						% Change
	2012			2011
	(dollars in thousands)
Net sales	$	1,020,116		$	898,500		13.5	%
Earnings from operations	$	82,452		$	49,642		66.1	%
Operating margin	8.1		%	5.5		%

Net sales from Journeys Group increased 13.5% to $1.02 billion for Fiscal 2012 from $898.5 million for Fiscal 2011. The increase reflects primarily a 14% increase in same store sales, a 28% increase in comparable direct sales and a comparable sales, including both store and direct sales, increase of 14%. The comparable sales increase reflected an 11% increase in footwear unit comparable sales and a 2% increase in the average price per pair of shoes. Total unit sales increased 11% during the same period. The store count for Journeys Group was 1,154 stores at the end of Fiscal 2012, including 152 Journeys Kidz stores, 53 Shi by Journeys stores, 137 Underground by Journeys stores and 13 Journeys stores in Canada, compared to 1,168 stores at the end of Fiscal 2011, including 149 Journeys Kidz stores, 55 Shi by Journeys stores, 151 Underground by Journeys stores and three Journeys stores in Canada.

Journeys Group earnings from operations for Fiscal 2012 increased 66.1% to $82.5 million, compared to $49.6 million for Fiscal 2011. The increase in earnings from operations was primarily due to increased net sales and decreased expenses as a percentage of net sales, reflecting leveraging of occupancy costs, selling salaries and depreciation.

Schuh Group

	Fiscal Year Ended					% Change
	2012			2011
	(dollars in thousands)
Net sales	$	212,262		$	—	NM
Earnings from operations	$	11,711		$	—	NM
Operating margin	5.5		%	—

Net sales from the Schuh Group were $212.3 million for the initial reporting period ended January 28, 2012, beginning on June 20, 2011. Schuh Group operated 64 stores and 14 concessions at the end of Fiscal 2012.

Schuh Group earnings from operations were $11.7 million for Fiscal 2012. Earnings included $7.2 million in compensation expense related to a deferred purchase price obligation in connection with the acquisition, as discussed above. Such expense reduced operating margin for the segment by approximately 340 basis points. See Note 2 to the Consolidated Financial Statements for additional information related to the Schuh acquisition.

Lids Sports Group

	Fiscal Year Ended						% Change
	2012			2011
	(dollars in thousands)
Net sales	$	759,324		$	603,345		25.9	%
Earnings from operations	$	82,349		$	56,026		47.0	%
Operating margin	10.8		%	9.3		%

Net sales from the Lids Sports Group increased 25.9% to $759.3 million for Fiscal 2012 from $603.3 million for Fiscal 2011. The increase primarily reflects a 12% increase in same store sales, an 11% increase in comparable direct sales and a comparable sales, including both store and direct sales, increase of 12%, and $59.8 million of sales from businesses acquired over the past twelve months. The comparable sales increase reflected a 10% increase in comparable store units sold, primarily

32

reflecting demand which management believes is driven by style trends and a 2% increase in average price per hat. Lids Sports Group operated 1,002 stores at the end of Fiscal 2012, including 82 stores in Canada and 120 Lids Locker Room stores and Clubhouse stores, compared to 985 stores at the end of Fiscal 2011, including 73 stores in Canada and 99 Lids Locker Room stores.

Lids Sports Group earnings from operations for Fiscal 2012 increased 47.0% to $82.3 million compared to $56.0 million for Fiscal 2011. The increase in operating income was primarily due to increased headwear sales and decreased expenses as a percentage of net sales, primarily reflecting leverage in store related expenses from positive comparable sales as well as for a change in sales mix in the Lids Sports Group. Wholesale sales accounted for 15% of the Lids Sports Group’s sales in Fiscal 2012 compared to 12% in Fiscal 2011. Wholesale sales normally involve lower expenses compared to retail stores.

Johnston & Murphy Group

	Fiscal Year Ended						% Change
	2012			2011
	(dollars in thousands)
Net sales	$	201,725		$	185,011		9.0	%
Earnings from operations	$	13,682		$	7,595		80.1	%
Operating margin	6.8		%	4.1		%

Johnston & Murphy Group net sales increased 9.0% to $201.7 million for Fiscal 2012 from $185.0 million for Fiscal 2011. The increase reflected primarily a 10% increase in same store sales, a 16% increase in comparable direct sales and a comparable sales, including both store and direct sales, increase of 11%, and a 5% increase in Johnston & Murphy wholesale sales, partially offset by a 2% decrease in average stores operated for Johnston & Murphy retail operations. Unit sales for the Johnston & Murphy wholesale business increased 4% in Fiscal 2012 and the average price per pair of shoes increased 1% for the same period. The comparable sales increase in Fiscal 2012 reflects a 3% increase in footwear unit comparable sales and a 3% increase in average price per pair of shoes, primarily due to changes in product mix. The comparable sales increase also reflects increased sales of non-footwear categories. Retail operations accounted for 74.3% of Johnston & Murphy Group sales in Fiscal 2012, up from 73.3% in Fiscal 2011. The store count for Johnston & Murphy retail operations at the end of Fiscal 2012 included 153 Johnston & Murphy shops and factory stores compared to 156 Johnston & Murphy shops and factory stores at the end of Fiscal 2011.

Johnston & Murphy earnings from operations for Fiscal 2011 increased 80.1% to $13.7 million from $7.6 million for Fiscal 2011, primarily due to increased net sales, increased gross margin as a percentage of net sales and decreased expenses as a percentage of net sales. Expenses reflected positive leverage in occupancy and depreciation from the increase in comparable store sales.

Licensed Brands

	Fiscal Year Ended						% Change
	2012			2011
	(dollars in thousands)
Net sales	$	97,444		$	101,644		(4.1	)%
Earnings from operations	$	9,456		$	12,359		(23.5	)%
Operating margin	9.7		%	12.2		%

Licensed Brands’ net sales decreased 4.1% to $97.4 million for Fiscal 2012 from $101.6 million for Fiscal 2011. The sales decrease reflects a decrease in sales of Dockers Footwear which management attributes in part to retailers’ increasing emphasis on their private label brands, offset by a $4.9 million increase in sales from the Chaps line of footwear and Keuka Footwear business, which was acquired in the third quarter of Fiscal 2011. Unit sales for Dockers Footwear decreased 9% for Fiscal 2012 and the average price per pair of shoes decreased 1% for the same period.

Licensed Brands’ earnings from operations for Fiscal 2012 decreased 23.5%, from $12.4 million for Fiscal 2011 to $9.5 million, primarily due to decreased net sales, decreased gross margins as a percentage of net sales and to increased expenses as a percentage of net sales, reflecting increased selling and advertising expenses and freight costs.

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Corporate, Interest Expenses and Other Charges

Corporate and other expense for Fiscal 2012 was $55.8 million compared to $39.5 million for Fiscal 2011. Corporate expense in Fiscal 2012 included $2.7 million in asset impairment and other charges, primarily for retail store asset impairments, other legal matters, network intrusion expenses and $7.4 million in acquisition related expenses. Corporate expense in Fiscal 2011 included $8.6 million in asset impairment and other charges, primarily for retail store asset impairments, network intrusion expenses and other legal matters. Excluding the charges listed above, corporate and other expense increased primarily due to higher bonus accruals reflecting improved financial performance of the Company.

Interest expense increased 356.4% from $1.1 million in Fiscal 2011 to $5.2 million in Fiscal 2012, due to average revolver borrowings of $49.5 million in Fiscal 2012, primarily in connection with the Schuh acquisition, and acquired UK term loans totaling $35.7 million as of January 28, 2012, compared to average revolver borrowings of $7.0 million in Fiscal 2011.

Liquidity and Capital Resources

The following table sets forth certain financial data at the dates indicated.

	Feb. 2, 2013		Jan. 28, 2012		Jan. 29, 2011
	(dollars in millions)
Cash and cash equivalents	$	59.8	$	53.8	$	55.9
Working capital	$	406.2	$	290.9	$	278.7
Long-term debt (includes current maturities)	$	50.7	$	40.7	$	0.0

Working Capital

The Company’s business is seasonal, with the Company’s investment in inventory and accounts receivable normally reaching peaks in the spring and fall of each year. Historically, cash flow from operations has been generated principally in the fourth quarter of each fiscal year.

Cash provided by operating activities was $123.2 million in Fiscal 2013 compared to $145.0 million in Fiscal 2012. The $21.8 million decrease from operating activities from Fiscal 2012 reflects a decrease in cash flow from changes in inventory, accounts payable and other accrued liabilities of $18.7 million, $16.8 million and $16.0 million, respectively, partially offset by improved earnings and a $28.5 million increase from changes in other assets and liabilities. The $18.7 million decrease in cash flow from inventory reflects increases in retail inventory, reflecting slower than expected sales, and increased inventory in Licensed Brands. The $16.8 million decrease in cash flow from accounts payable reflects changes in buying patterns and payment terms negotiated with individual vendors. The $16.0 million decrease in cash flow from other accrued liabilities reflects decreased bonus accruals and decreased income tax accruals in Fiscal 2013 compared to Fiscal 2012. The $28.5 million increase in cash flow from other assets and liabilities reflects increased accruals for the deferred purchase price and bonus earn-out related to Schuh and a decrease in long-term receivables related to the network intrusion.

The $61.0 million increase in inventories at February 2, 2013 from January 28, 2012 levels reflects increases in retail inventory, reflecting slower than expected sales and a 5.5% increase in square footage, and increased inventory in Licensed Brands to support growth initiatives.

Accounts receivable at February 2, 2013 increased $5.8 million compared to January 28, 2012, due primarily to increased wholesale sales reflecting growth in the Johnston & Murphy wholesale business and Licensed Brands business.

Cash provided by operating activities was $145.0 million in Fiscal 2012 compared to $102.6 million in Fiscal 2011. The $42.4 million increase in cash flow from operating activities from last year reflects improved earnings and a change in other assets and liabilities and accounts receivable of $27.1 million and $15.1 million, respectively, offset by a decrease in cash flow from changes in other accrued liabilities and accounts payable of $32.6 million and $14.8 million, respectively. The $27.1 million increase in cash flow from other assets and liabilities reflects an increase in the bonus bank liability, resulting from increased bonuses in Fiscal 2012, and deferred compensation due to the deferred purchase price and bonus earn-out accruals related to Schuh, partially offset by an increase in long-term receivables related to the network intrusion. The $15.1 million increase in cash flow from accounts receivable reflects primarily decreased wholesale sales in Licensed Brands for Fiscal 2012 and the increase in wholesale sales, including the additional sales in Lids Team Sports, in Fiscal 2011 when compared to Fiscal 2010, which together, contribute to the increase in cash flow for Fiscal 2012. The $32.6 million decrease in cash flow from other accrued liabilities was due to a reduction in the growth of current bonus accruals and increased

34

payments related to environmental liabilities. The $14.8 million decrease in cash flow from accounts payable reflected changes in buying patterns and payment terms negotiated with individual vendors.

The $42.3 million increase in inventories at January 28, 2012 from January 29, 2011 levels reflects primarily an increase in Lids retail inventory to support growth and increases in Lids Team Sports inventory to support growth and to improve customer fulfillment.

Accounts receivable at January 28, 2012 decreased $3.0 million compared to January 29, 2011, due primarily to decreased wholesale sales in Licensed Brands.

Sources of Liquidity

The Company has three principal sources of liquidity: cash from operations, cash and cash equivalents on hand and the Credit Facility discussed below. The Company believes that cash and cash equivalents on hand, cash from operations and availability under its Credit Facility will be sufficient to cover its working capital and capital expenditures for the foreseeable future.

On June 23, 2011, the Company entered into a First Amendment (the “Amendment”) to the Second Amended and Restated Credit Agreement (the “Credit Facility”) dated January 21, 2011, in the aggregate principal amount of $375.0 million, with a $40.0 million swingline loan sublimit, a $70.0 million sublimit for the issuance of standby letters of credit and a Canadian sub-facility of up to $8.0 million, which has a five-year term, expiring in January 2016. The Amendment raised the aggregate principal amount on the Credit Facility to $375.0 million from $300.0 million. Any swingline loans and any letters of credit and borrowings under the Canadian facility will reduce the availability under the Credit Facility on a dollar-for-dollar basis. In addition, the Company has an option to increase the availability under the Credit Facility by up to $75.0 million subject to, among other things, the receipt of commitments for the increased amount. The aggregate amount of the loans made and letters of credit issued under the Credit Facility shall at no time exceed the lesser of the facility amount ($375.0 million or, if increased at the Company’s option, subject to the receipt of commitments for the increased amount, up to $450.0 million) or the “Borrowing Base”, which generally is based on 90% of eligible inventory plus 85% of eligible wholesale receivables (50% of eligible wholesale receivables of the Lids Team Sports business) plus 90% of eligible credit card and debit card receivables less applicable reserves. For additional information on the Company’s Credit Facility, see Note 6 to the Consolidated Financial Statements included in Item 8.

In connection with the Schuh acquisition, Schuh entered into an amended and restated Senior Term Facilities Agreement and Working Capital Facility Letter, (collectively, the “UK Credit Facilities”) which provide for term loans of up to £29.5 million (a £15.5 million A term loan and £14.0 million B term loan) and a working capital facility of £5.0 million. The Working Capital Facility Letter was allowed to lapse in June 2012. The A term loan bears interest at LIBOR plus 2.50% per annum. The B term loan bears interest at LIBOR plus 3.75% per annum. The Company is not required to make any payments on the B term loan until it expires October 31, 2015, unless the Company’s Schuh Group segment has Excess Cash Flow (as defined in the UK Credit Facilities). The Company paid £2.0 million, £2.8 million and £4.5 million on the B term loan in the fourth quarter of Fiscal 2013, the second quarter of Fiscal 2013 and the fourth quarter of Fiscal 2012, respectively.

The UK Credit Facilities contains certain covenants at the Schuh level including a minimum interest coverage covenant initially set at 4.25x and increasing to 4.50x in January 2012 and thereafter, a maximum leverage covenant initially set at 2.75x declining over time at various rates to 2.25x beginning in July 2012 and a minimum cash flow coverage of 1.10x. The Company was in compliance with all the covenants at February 2, 2013. The UK Credit Facilities are secured by a pledge of all the assets of Schuh and its subsidiaries.

Revolving credit borrowings averaged $30.5 million during Fiscal 2013 and $49.5 million during Fiscal 2012, as cash on hand, cash generated from operations and revolver borrowings primarily funded seasonal working capital requirements, capital expenditures and stock repurchases for Fiscal 2013.

There were $12.3 million of letters of credit outstanding, $27.7 million of revolver borrowings outstanding under the Credit Facility and $23.0 million in U.K. term loans outstanding at February 2, 2013. The Company is not required to comply with any financial covenants under the Credit Facility unless Excess Availability (as defined in the First Amendment to the Second Amended and Restated Credit Agreement) is less than the greater of $27.5 million or 12.5% of the Loan Cap (as defined in the First Amendment to the Second Amended and Restated Credit Agreement). If and during such time as Excess Availability is less than the greater of $27.5 million or 12.5% of the Loan Cap, the Credit Facility requires the Company to meet a minimum fixed charge coverage ratio of (a) an amount equal to consolidated EBITDA less capital expenditures and taxes paid in cash, in each case for such period, to (b) fixed charges for such period, of not less than 1.0:1.0. Excess

35

Availability was $292.8 million at February 2, 2013. Because Excess Availability exceeded $27.5 million or 12.5% of the Loan Cap, the Company was not required to comply with this financial covenant at February 2, 2013.

The Company’s Credit Facility prohibits the payment of dividends and other restricted payments unless as of the date of the making of any Restricted Payment (as defined in the Credit Facility) or consummation of any Acquisition (as defined in the Credit Facility), (a) no Default (as defined in the Credit Facility) or Event of Default (as defined in the Credit Facility)exists or would arise after giving effect to such Restricted Payment or Acquisition, and (b) either (i) the Borrowers (as defined in the Credit Facility) have pro forma projected Excess Availability for the following six month period equal to or greater than 50% of the Loan Cap, after giving pro forma effect to such Restricted Payment or Acquisition, or (ii) (A) the Borrowers have pro forma projected Excess Availability for the following six month period of less than 50% of the Loan Cap but equal to or greater than 20% of the Loan Cap, after giving pro forma effect to the Restricted Payment or Acquisition, and (B) the Fixed Charge Coverage Ratio (as defined in the Credit Facility), on a pro-forma basis for the twelve months preceding such Restricted Payment or Acquisition, will be equal to or greater than 1.0:1.0 and (c) after giving effect to such Restricted Payment or Acquisition, the Borrowers are Solvent (as defined in the Credit Facility). The Company’s management does not expect availability under the Credit Facility to fall below the requirements listed above during Fiscal 2014. The Company’s UK Credit Facilities prohibit the payment of any dividends by Schuh or its subsidiaries to the Company.

The aggregate of annual dividend requirements on the Company’s Subordinated Serial Preferred Stock, $2.30 Series 1, $4.75 Series 3 and $4.75 Series 4, and on its $1.50 Subordinated Cumulative Preferred Stock is $0.1 million.

Contractual Obligations

The following tables set forth aggregate contractual obligations and commitments as of February 2, 2013.

(in thousands)	Payments Due by Period
Contractual Obligations	Total		Less than 1 year		1 - 3 years		3 - 5 years		More than 5 years
Capital Lease Obligations	$	13	$	1	$	3	$	3	$	6
Long-Term Debt Obligations(1)	50,682		5,675		45,007		0		0
Operating Lease Obligations	1,255,160		223,495		401,661		287,470		342,534
Purchase Obligations(2)	546,995		546,995		0		0		0
Long-Term Obligations – Schuh(3)	60,108		8,622		51,486		0		0
Other Long-Term Liabilities	1,337		176		350		350		461
Total Contractual Obligations(4)	$	1,914,295	$	784,964	$	498,507	$	287,823	$	343,001

(in thousands)	Amount of Commitment Expiration Per Period
Commercial Commitments	Total Amounts Committed		Less than 1 year		1 - 3 years		3 - 5 years		More than 5 years
Letters of Credit	$	12,288	$	12,288	$	0	$	0	$	0
Total Commercial Commitments	$	12,288	$	12,288	$	0	$	0	$	0

(1) Excludes interest on revolver borrowings due to uncertainty of timing of payments.

(2) Open purchase orders for inventory.

(3) Includes deferred purchase price payments, earn-out bonus payments and retention note payments related to the Schuh acquisition and interest on the UK term loans. For additional information, see Notes 2 and 6 to the Consolidated Financial Statements included in Item 8.

(4) Excludes unrecognized tax benefits of $11.1 million due to their uncertain nature in timing of payments, if any.

Capital Expenditures

Capital expenditures were $71.7 million, $49.5 million and $29.3 million for Fiscal 2013, 2012 and 2011, respectively. The $22.2 million increase in Fiscal 2013 capital expenditures as compared to Fiscal 2012 reflected an increase in retail store capital expenditures due to the construction of 104 new stores opened in Fiscal 2013, compared to 70 stores in Fiscal 2012, and increased major renovations due to lease renewals. The $20.2 million increase in Fiscal 2012 capital expenditures as

36

compared to Fiscal 2011 reflected an increase in retail store capital expenditures due to the construction of 70 new stores opened in Fiscal 2012, compared to 53 stores in Fiscal 2011 and increased major and minor renovations due to lease renewals.

Total capital expenditures in Fiscal 2014 are expected to be approximately $119.9 million. These include retail capital expenditures of approximately $105.8 million to open approximately 32 Journeys stores, including 12 in Canada, 20 Journeys Kidz stores, three Shi by Journeys stores, 15 Schuh stores, 15 Johnston & Murphy shops and factory stores, including three in Canada, and 80 Lids Sports Group stores, including 30 Lids stores, with 10 stores in Canada, and 50 Lids Locker Room and Clubhouse stores, and to complete approximately 152 major store renovations. The planned amount of capital expenditures in Fiscal 2014 for wholesale operations and other purposes is approximately $14.1 million, including approximately $9.8 million for new systems to improve customer service and support the Company’s growth.

Future Capital Needs

The Company expects that cash on hand and cash provided by operations and borrowings under its Credit Facility will be sufficient to support seasonal working capital and capital expenditure requirements during Fiscal 2014. The approximately $7.2 million of costs associated with discontinued operations that are expected to be paid during the next twelve months are expected to be funded from cash on hand, cash generated from operations and borrowings under the Credit Facility during Fiscal 2014.

Common Stock Repurchases

The Company repurchased 645,904 shares at a cost of $37.6 million during Fiscal 2013. The Company has $58.2 million remaining under its current $75.0 million share repurchase authorization. The Company did not repurchase any shares during Fiscal 2012. The Company repurchased 863,767 shares at a cost of $24.8 million during Fiscal 2011.

Environmental and Other Contingencies

The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters, including those disclosed in Note 13 to the Company’s Consolidated Financial Statements. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million reflected in Fiscal 2013, $1.8 million reflected in Fiscal 2012 and $2.9 million reflected in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s reserves and accruals in relation to each of them, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its reserve in relation to each proceeding is a best estimate of the probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional reserves, that some or all reserves may not be adequate or that the amounts of any such additional reserves or any such inadequacy will not have a material adverse effect upon the Company’s financial condition or results of operations.

Financial Market Risk

The following discusses the Company’s exposure to financial market risk related to changes in interest rates and foreign currency exchange rates.

Outstanding Debt of the Company – The Company has $27.7 million of outstanding revolver borrowings under its Credit Facility at a weighted average interest rate of 4.50% as of February 2, 2013. A 100 basis point adverse change in interest rates would increase interest expense by $0.3 million on the $27.7 million revolving credit debt. The Company has $23.0 million of outstanding U.K. term loans at a weighted average interest rate of 3.42% as of February 2, 2013. A 100 basis point adverse change in interest rates would increase interest expense by $0.2 million on the $23.0 million term loans.

Cash and Cash Equivalents – The Company’s cash and cash equivalent balances are invested in financial instruments with original maturities of three months or less. The Company did not have significant exposure to changing interest rates on invested cash at February 2, 2013. As a result, the Company considers the interest rate market risk implicit in these investments at February 2, 2013 to be low.

Foreign Currency Exchange Rate Risk—Most purchases by the Company from foreign sources are denominated in U.S. dollars. To the extent that import transactions are denominated in other currencies, it was the Company’s practice to hedge

37

its risks through the purchase of forward foreign exchange contracts when the purchases were material. At February 2, 2013, the Company did not have any forward foreign exchange contracts outstanding.

Accounts Receivable – The Company’s accounts receivable balance at February 2, 2013 is concentrated in two of its footwear wholesale businesses, which sell primarily to department stores and independent retailers across the United States and its Lids Team Sports wholesale business, which sells primarily to colleges and high school athletic teams and their fan bases. Including both footwear wholesale and Lids Team Sports wholesale business receivables, two customers each accounted for 7% and no other customer accounted for more than 6% of the Company’s total trade receivables balance as of February 2, 2013. The Company monitors the credit quality of its customers and establishes an allowance for doubtful accounts based upon factors surrounding credit risk of specific customers, historical trends and other information, as well as customer specific factors; however, credit risk is affected by conditions or occurrences within the economy and the retail industry, as well as company-specific information.

Summary – Based on the Company’s overall market interest rate and foreign currency rate exposure at February 2, 2013, the Company believes that the effect, if any, of reasonably possible near-term changes in interest rates or foreign currency exchange rates on the Company’s consolidated financial position, results of operations or cash flows for Fiscal 2014 would not be material.

New Accounting Principles

In June 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2011-05, an update to the FASB Codification Comprehensive Income Topic, which amends the existing accounting standards related to the presentation of comprehensive income in a company's financial statements. This update requires that all non-owner changes in shareholders' equity be presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two statement approach, the first statement would present total net earnings and its components followed consecutively by a second statement that should present total other comprehensive income, the components of other comprehensive income and the total of comprehensive income. The update does not change the items that must be reported in other comprehensive income and must be applied retrospectively for all periods presented in the Consolidated Financial Statements. The Company adopted this update in the first quarter of Fiscal 2013 and has included a separate statement of comprehensive income in its Consolidated Financial Statements. The adoption did not have a significant impact on the Company’s results of operations or financial position.

Inflation

The Company does not believe inflation has had a material impact on sales or operating results during periods covered in this discussion.

ITEM 7A, QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company incorporates by reference the information regarding market risk appearing under the heading “Financial Market Risk” in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.

38

ITEM 8, FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

INDEX TO FINANCIAL STATEMENTS

	Page
Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting	40
Report of Independent Registered Public Accounting Firm on Financial Statements	41
Consolidated Balance Sheets, February 2, 2013 and January 28, 2012	42
Consolidated Statements of Operations, each of the three fiscal years ended 2013, 2012 and 2011	44
Consolidated Statements of Comprehensive Income, each of the three fiscal years ended 2013, 2012 and 2011	45
Consolidated Statements of Cash Flows, each of the three fiscal years ended 2013, 2012 and 2011	46
Consolidated Statements of Equity, each of the three fiscal years ended 2013, 2012 and 2011	47
Notes to Consolidated Financial Statements	48

39

Report of Independent Registered Public Accounting Firm

On Internal Control over Financial Reporting

The Board of Directors and Shareholders

Genesco Inc.

We have audited Genesco Inc. and Subsidiaries' internal control over financial reporting as of February 2, 2013, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). Genesco Inc. and Subsidiaries' management is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, Genesco Inc. and Subsidiaries maintained, in all material respects, effective internal control over financial reporting as of February 2, 2013, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Genesco Inc. and Subsidiaries as of February 2, 2013 and January 28, 2012, and the related consolidated statements of operations, comprehensive income, cash flows, and equity for each of the three fiscal years in the period ended February 2, 2013, and our report dated April 3, 2013, expressed an unqualified opinion thereon.

	/s/ Ernst & Young LLP
Nashville, Tennessee
April 3, 2013

40

Report of Independent Registered Public Accounting Firm on Financial Statements

The Board of Directors and Shareholders

Genesco Inc.

We have audited the accompanying consolidated balance sheets of Genesco Inc. and Subsidiaries (the “Company”) as of February 2, 2013 and January 28, 2012, and the related consolidated statements of operations, comprehensive income, cash flows and equity for each of the three fiscal years in the period ended February 2, 2013. Our audits also included the financial statement schedule listed in Item 15. These financial statements and schedule are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and schedule based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Genesco Inc. and Subsidiaries at February 2, 2013 and January 28, 2012, and the consolidated results of their operations and their cash flows for each of the three fiscal years in the period ended February 2, 2013, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s internal control over financial reporting as of February 2, 2013, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated April 3, 2013, expressed an unqualified opinion thereon.

	/s/ Ernst & Young LLP
Nashville, Tennessee
April 3, 2013

41

Genesco Inc.

and Subsidiaries

Consolidated Balance Sheets

In Thousands, except share amounts

	As of Fiscal Year End
Assets	2013			2012
Current Assets:
Cash and cash equivalents	$	59,795		$	53,790
Accounts receivable, net of allowances of $6,082 at February 2,
2013 and $6,900 at January 28, 2012	48,214			43,713
Inventories	505,344			435,113
Deferred income taxes	23,725			22,541
Prepaids and other current assets	45,193			40,155
Total current assets	682,271			595,312
Property and equipment:
Land	6,128			6,118
Buildings and building equipment	20,390			20,260
Computer hardware, software and equipment	120,757			116,920
Furniture and fixtures	148,903			127,949
Construction in progress	8,702			7,158
Improvements to leased property	318,376			299,775
Property and equipment, at cost	623,256			578,180
Accumulated depreciation	(381,587		)	(350,491		)
Property and equipment, net	241,669			227,689
Deferred income taxes	26,448			28,152
Goodwill	273,827			259,759
Trademarks, net of accumulated amortization of $3,350 at
February 2, 2013 and $2,246 at January 28, 2012	77,408			78,276
Other intangibles, net of accumulated amortization of $17,220 at
February 2, 2013 and $13,645 at January 28, 2012	11,598			14,808
Other noncurrent assets	20,568			33,269
Total Assets	$	1,333,789		$	1,237,265

42

Genesco Inc.

and Subsidiaries

Consolidated Balance Sheets

In Thousands, except share amounts

	As of Fiscal Year End
Liabilities and Equity	2013			2012
Current Liabilities:
Accounts payable	$	118,350		$	138,938
Accrued employee compensation	55,078			53,029
Accrued other taxes	27,004			26,293
Accrued income taxes	2,096			16,390
Current portion – long-term debt	5,675			8,773
Other accrued liabilities	60,659			52,789
Provision for discontinued operations	7,192			8,250
Total current liabilities	276,054			304,462
Long-term debt	45,007			31,931
Pension liability	20,514			22,201
Deferred rent and other long-term liabilities	177,537			156,794
Provision for discontinued operations	4,159			4,267
Total liabilities	523,271			519,655
Commitments and contingent liabilities
Equity
Non-redeemable preferred stock	3,924			4,957
Common equity:
Common stock, $1 par value:
Authorized: 80,000,000 shares
Issued/Outstanding:
February 2, 2013 – 24,484,915/23,996,451
January 28, 2012 – 24,757,826/24,269,362	24,485			24,758
Additional paid-in capital	170,360			149,479
Retained earnings	655,920			586,990
Accumulated other comprehensive loss	(28,241		)	(32,966		)
Treasury shares, at cost (488,464 shares)	(17,857		)	(17,857		)
Total Genesco equity	808,591			715,361
Noncontrolling interest – non-redeemable	1,927			2,249
Total equity	810,518			717,610
Total Liabilities and Equity	$	1,333,789		$	1,237,265

The accompanying Notes are an integral part of these Consolidated Financial Statements

43

Genesco Inc.

and Subsidiaries

Consolidated Statements of Operations

In Thousands, except per share amounts

	Fiscal Year
		2013			2012			2011
Net sales		$	2,604,817		$	2,291,987		$	1,789,839
Cost of sales		1,306,470			1,144,281			891,764
Selling and administrative expenses		1,113,340			1,001,159			803,425
Asset impairments and other, net		17,037			2,677			8,567
Earnings from operations		167,970			143,870			86,083
Interest expense, net:
Interest expense		5,126			5,157			1,130
Interest income		(95		)	(65		)	(8		)
Total interest expense, net		5,031			5,092			1,122
Earnings from continuing operations before income taxes		162,939			138,778			84,961
Income tax expense		51,941			55,794			30,414
Earnings from continuing operations		110,998			82,984			54,547
Provision for discontinued operations, net		(462		)	(1,025		)	(1,336		)
Net Earnings		$	110,536		$	81,959		$	53,211
Basic earnings per common share:
Continuing operations		$	4.70		$	3.56		$	2.34
Discontinued operations		(0.02		)	(0.04		)	(0.06		)
Net earnings		$	4.68		$	3.52		$	2.28
Diluted earnings per common share:
Continuing operations		$	4.62		$	3.48		$	2.29
Discontinued operations		(0.02		)	(0.05		)	(0.05		)
Net earnings		$	4.60		$	3.43		$	2.24

The accompanying Notes are an integral part of these Consolidated Financial Statements.

44

Genesco Inc.

and Subsidiaries

Consolidated Statements of Comprehensive Income

In Thousands, except as noted

	Fiscal Year
	2013			2012			2011
Net earnings	$	110,536		$	81,959		$	53,211
Other comprehensive income (loss):
Gain (loss) on foreign currency forward contract,
net of tax of $0.0 million for 2013 and 2012
and $0.1 million for 2011	42			(35		)	166
Pension liability adjustment net of tax of $2.4 million
and $2.7 million for 2013 and 2011, respectively, and
net of tax benefit of $3.1 million for 2012	3,657			(4,670		)	3,921
Postretirement liability adjustment net of tax
benefit of $0.1 million for each period	(79		)	(109		)	(131		)
Foreign currency translation adjustments	1,105			(3,847		)	543
Total other comprehensive income (loss)	4,725			(8,661		)	4,499
Comprehensive Income	$	115,261		$	73,298		$	57,710

The accompanying Notes are an integral part of these Consolidated Financial Statements.

45

Genesco Inc.

and Subsidiaries

Consolidated Statements of Cash Flows

In Thousands

	Fiscal Year
	2013			2012			2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	110,536		$	81,959		$	53,211
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Depreciation and amortization	63,697			53,737			47,738
Amortization of deferred note expense and debt discount	792			708			370
Deferred income taxes	(17,831		)	2,732			(11,866		)
Provision for losses on accounts receivable	1,325			2,004			1,081
Impairment of long-lived assets	1,396			1,119			7,155
Restricted stock and share-based compensation	10,508			7,660			8,006
Provision for discontinued operations	796			1,692			2,203
Tax benefit of stock options and restricted stock exercised	(4,820		)	(4,744		)	(1,448		)
Other	1,327			1,005			1,328
Effect on cash from changes in working capital and other
assets and liabilities, before acquisitions:
Accounts receivable	(5,821		)	3,011			(12,085		)
Inventories	(61,049		)	(42,324		)	(44,345		)
Prepaids and other current assets	(4,524		)	5,286			(167		)
Accounts payable	(17,953		)	(1,201		)	13,641
Other accrued liabilities	(6,908		)	9,046			41,597
Other assets and liabilities	51,739			23,270			(3,811		)
Net cash provided by operating activities	123,210			144,960			102,608
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(71,737		)	(49,456		)	(29,299		)
Acquisitions, net of cash acquired	(23,818		)	(92,985		)	(75,500		)
Proceeds from asset sales	81			27			11
Net cash used in investing activities	(95,474		)	(142,414		)	(104,788		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of capital leases	(2		)	(22		)	(104		)
Payments of long-term debt	(13,581		)	(25,321		)	(1,918		)
Borrowings under revolving credit facility	439,600			299,800			107,400
Payments on revolving credit facility	(416,900		)	(294,800		)	(107,400		)
Tax benefit of stock options and restricted stock exercised	4,820			4,744			1,448
Shares repurchased	(37,650		)	—			(26,851		)
Change in overdraft balances	(2,925		)	2,931			4,160
Dividends paid on non-redeemable preferred stock	(147		)	(193		)	(197		)
Exercise of stock options and issue shares - Employee Stock
Purchase Plan	4,965			9,820			2,343
Other	4			(939		)	(2,915		)
Net cash used in financing activities	(21,816		)	(3,980		)	(24,034		)
Effect of foreign exchange rate fluctuations on cash	85			(710		)	—
Net Increase (Decrease) in Cash and Cash Equivalents	6,005			(2,144		)	(26,214		)
Cash and cash equivalents at beginning of period	53,790			55,934			82,148
Cash and cash equivalents at end of period	$	59,795		$	53,790		$	55,934
Supplemental Cash Flow Information:
Net cash paid for:
Interest	$	4,391		$	4,789		$	748
Income taxes	81,607			50,254			24,079

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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Consolidated Statements of Equity

	Total Non-Redeemable Preferred Stock			Common Stock			Additional Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Shares			Non Controlling Interest Non-Redeemable			Total Equity
Balance January 30, 2010	$	5,220		$	24,563		$	146,981		$	452,210		$	(28,804	)	$	(17,857	)	$	—		$	582,313
Net earnings	—			—			—			53,211			—			—			—			53,211
Other comprehensive loss	—			—			—			—			4,499			—			—			4,499
Dividends paid on non-redeemable preferred stock	—			—			—			(197		)	—			—			—			(197		)
Exercise of stock options	—			118			2,105			—			—			—			—			2,223
Issue shares – Employee Stock Purchase Plan	—			4			116			—			—			—			—			120
Employee and non-employee restricted stock	—			—			7,796			—			—			—			—			7,796
Share-based compensation	—			—			210			—			—			—			—			210
Restricted stock issuance	—			423			(423		)	—			—			—			—			—
Restricted shares withheld for taxes	—			(82		)	(2,293		)	—			—			—			—			(2,375		)
Tax benefit of stock options and restricted
stock exercises	—			—			1,342			—			—			—			—			1,342
Shares repurchased	—			(864		)	(23,961		)	—			—			—			—			(24,825		)
Other	(37		)	1			37			—			—			—			—			1
Noncontrolling interest – loss	—			—			—			—			—			—			2,503			2,503
Balance January 29, 2011	5,183			24,163			131,910			505,224			(24,305		)	(17,857		)	2,503			626,821
Net earnings	—			—			—			81,959			—			—			—			81,959
Other comprehensive loss	—			—			—			—			(8,661		)	—			—			(8,661		)
Dividends paid on non-redeemable preferred stock	—			—			—			(193		)	—			—			—			(193		)
Exercise of stock options	—			390			9,297			—			—			—			—			9,687
Issue shares – Employee Stock Purchase Plan	—			3			130			—			—			—			—			133
Employee and non-employee restricted stock	—			—			7,659			—			—			—			—			7,659
Share-based compensation	—			—			1			—			—			—			—			1
Restricted stock issuance	—			304			(304		)	—			—			—			—			—
Restricted shares withheld for taxes	—			(93		)	(4,034		)	—			—			—			—			(4,127		)
Tax benefit of stock options and
restricted stock exercises	—			—			4,585			—			—			—			—			4,585
Other	(226		)	(9		)	235			—			—			—			—			—
Noncontrolling interest – loss	—			—			—			—			—			—			(254		)	(254		)
Balance January 28, 2012	4,957			24,758			149,479			586,990			(32,966		)	(17,857		)	2,249			717,610
Net earnings	—			—			—			110,536			—			—			—			110,536
Other comprehensive income	—			—			—			—			4,725			—			—			4,725
Dividends paid on non-redeemable preferred stock	—			—			—			(147		)	—			—			—			(147		)
Exercise of stock options	—			224			4,584			—			—			—			—			4,808
Issue shares - Employee Stock Purchase Plan	—			2			155			—			—			—			—			157
Employee and non-employee restricted stock	—			—			10,508			—			—			—			—			10,508
Restricted stock issuance	—			194			(194		)	—			—			—			—			—
Restricted shares withheld for taxes	—			(76		)	—			(4,455		)	—			—			—			(4,531		)
Tax benefit of stock options and
restricted stock exercised	—			—			4,820			—			—			—			—			4,820
Shares repurchased	—			(646		)	—			(37,004		)	—			—			—			(37,650		)
Other	(1,033		)	29			1,008			—			—			—			—			4
Noncontrolling interest – loss	—			—			—			—			—			—			(322		)	(322		)
Balance February 2, 2013	$	3,924		$	24,485		$	170,360		$	655,920		$	(28,241	)	$	(17,857	)	$	1,927		$	810,518

The accompanying Notes are an integral part of these Consolidated Financial Statements.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies

Nature of Operations

The Company's business includes the design and sourcing, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Shi by Journeys, Underground by Journeys and Johnston & Murphy banners and under the Schuh banner in the United Kingdom and the Republic of Ireland; through e-commerce websites including journeys.com, journeyskidz.com, shibyjourneys.com, undergroundbyjourneys.com, schuh.co.uk and johnstonmurphy.com and catalogs, and at wholesale, primarily under the Company's Johnston & Murphy brand, the licensed Dockers brand and other brands that the Company licenses for men's footwear. The Company's business also includes Lids Sports Group, which operates headwear and accessory stores in the U.S. and Canada primarily under the Lids, Hat World and Hat Shack banners; the Lids Locker Room business, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, operating primarily under the Lids Locker Room, Sports Fan-Attic and Sports Avenue banners; certain e-commerce operations and an athletic team dealer business operating as Lids Team Sports. Including both the footwear businesses and the Lids Sports Group business, at February 2, 2013, the Company operated 2,459 retail stores in the U.S., Puerto Rico, Canada, the United Kingdom and the Republic of Ireland.

During Fiscal 2013, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations; (ii) Schuh Group, acquired in June 2011, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised as described in the preceding paragraph; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution; and (v) Licensed Brands, comprised of Dockers^® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip^®Footwear, occupational footwear primarily sold directly to consumers; and other footwear brands.

Principles of Consolidation

All subsidiaries are consolidated in the consolidated financial statements. All significant intercompany transactions and accounts have been eliminated.

Fiscal Year

The Company’s fiscal year ends on the Saturday closest to January 31. As a result, Fiscal 2013 was a 53-week year with 371 days and each of Fiscal 2012 and Fiscal 2011 was a 52-week year with 364 days. Fiscal 2013 ended on February 2, 2013, Fiscal 2012 ended on January 28, 2012 and Fiscal 2011 ended on January 29, 201l.

Financial Statement Reclassifications

Certain reclassifications have been made to conform prior years' data to the current year presentation with respect to segments. The Company integrated the Underground Station operations into the Journeys Group in the first quarter of Fiscal 2013. The former Underground Station stores are a

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

subset of Journeys Group under the brand "Underground by Journeys." Journeys Group segment net sales, operating income, total assets, depreciation and amortization and capital expenditures have been restated by $92.4 million, $(0.3) million, $25.2 million, $1.8 million and $0.2 million, respectively, for Fiscal 2012 and by $94.4 million, $(3.0) million, $27.8 million, $2.2 million and $1.3 million, respectively, for Fiscal 2011 as a result of combining Underground Station Group with the Journeys Group segment to conform to current year presentation (See Note 14).

Certain shipping and warehouse expenses have been reclassed from selling and administrative expenses to cost of sales in Fiscal 2012 and 2011 to conform to the current year presentation. The reclass to cost of sales from selling and administrative expense for Fiscal 2012 and 2011 was $6.3 million and $3.8 million, respectively.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Significant areas requiring management estimates or judgments include the following key financial areas:

Inventory Valuation

The Company values its inventories at the lower of cost or market.

In its footwear wholesale operations, its Schuh Group segment and its Lids Sports Group wholesale operations, except for the Anaconda Sports wholesale division, cost is determined using the first-in, first-out (“FIFO”) method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company.

The Lids Sports Group retail segment and its Anaconda Sports wholesale division employ the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate.

In its retail operations, other than the Schuh Group and Lids Sports Group retail segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories.

Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return

products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates.

Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value.

Impairment of Long-Lived Assets

The Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets. See also Notes 3 and 5.

The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its latest annual test, which was completed in the fourth quarter, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, estimates of future expected changes in operating margins and cash

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements.

If the carrying value of the reporting unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting

unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value

to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference.

Environmental and Other Contingencies

The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million in Fiscal 2013, $1.8 million in Fiscal 2012 and $2.9 million in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s reserves and accruals, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its reserve in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional reserves, that some or all reserves will be adequate or that the amounts of any such additional reserves or any such inadequacy will not have a material adverse effect upon the Company’s financial condition, cash flows, or results of operations. See also Notes 3 and 8.

Revenue Recognition

Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at estimated time of delivery to the customer and are net of estimated returns and exclude sales and value added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Income Taxes

As part of the process of preparing Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating actual current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Consolidated Balance Sheets. The Company then assesses the likelihood that its deferred tax assets will be recovered from future taxable income. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances

are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At February 2, 2013, the Company had a deferred tax valuation allowance of $3.5 million.

Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification ("Codification"). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results.

The Company recorded an effective income tax rate of 31.9% for Fiscal 2013 compared to 40.2% for 2012. This year's tax rate is lower primarily due to the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions. The Company recorded an effective federal income tax rate of 40.2% for Fiscal 2012 compared to 35.8% for Fiscal 2011. Fiscal 2012's higher effective tax rate of 40.2% reflects transaction costs and deferred purchase price related to the Schuh acquisition, which are considered permanent differences. Fiscal 2011's lower effective tax rate of 35.8% reflects the net reduction of the Company’s liability for uncertain tax positions of $1.3 million in Fiscal 2011.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Postretirement Benefits Plan Accounting

Full-time employees who had at least 1,000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with limited medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act.

As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in their Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur.

The Company accounts for the defined benefit pension plans using the Compensation-Retirement Benefits Topic of the Codification. As permitted under this topic, pension expense is recognized on an accrual basis over employees’ approximate service periods. The calculation of pension expense

and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions.

Share-Based Compensation

The Company has share-based compensation plans covering certain members of management and non-employee directors. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification. For Fiscal 2013, 2012 and 2011, share-based compensation expense was $0, less than $1,000 and $0.2 million, respectively. The Company has not issued any new stock option awards since the first quarter of Fiscal 2008. For Fiscal 2013, 2012 and 2011, restricted stock expense was $10.5 million, $7.7 million, and $7.8 million, respectively. The fair value of employee restricted stock is determined based on the closing price of the Company’s stock on the date of the grant. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.

Cash and Cash Equivalents

Included in cash and cash equivalents at February 2, 2013 and January 28, 2012 are cash equivalents of $0.2 million for each year. Cash equivalents are highly-liquid financial instruments having an original maturity of three months or less. At February 2, 2013, substantially all of the Company’s domestic cash was invested in deposit accounts at FDIC-insured banks. The majority of payments due from banks for domestic customer credit card transactions process within 24 - 48 hours and are accordingly classified as cash and cash equivalents.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

At February 2, 2013 and January 28, 2012, outstanding checks drawn on zero-balance accounts at certain domestic banks exceeded book cash balances at those banks by approximately $36.1 million and $39.0 million, respectively. These amounts are included in accounts payable.

Concentration of Credit Risk and Allowances on Accounts Receivable

The Company’s footwear wholesale businesses sell primarily to independent retailers and department stores across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer specific factors. The Company’s Lids Team Sports wholesale business sells primarily to colleges and high school athletic teams and their fan bases. Including both footwear wholesale and Lids Team Sports wholesale business receivables, two customers each accounted for 7% of the Company’s total trade receivables balance, while no other customer accounted for more than 6% of the Company’s total trade receivables balance as of February 2, 2013.

The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information, as well as customer specific factors. The Company also establishes allowances for sales returns, customer deductions and co-op advertising based on specific circumstances, historical trends and projected probable outcomes.

Property and Equipment

Property and equipment are recorded at cost and depreciated or amortized over the estimated useful life of related assets. Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives:

Buildings and building equipment	20-45 years
Computer hardware, software and equipment	3-10 years
Furniture and fixtures	10 years

Leases

Leasehold improvements and properties under capital leases are amortized on the straight-line method over the shorter of their useful lives or their related lease terms and the charge to earnings is included in selling and administrative expenses in the Consolidated Statements of Operations.

Certain leases include rent increases during the initial lease term. For these leases, the Company recognizes the related rental expense on a straight-line basis over the term of the lease (which

includes any rent holidays and the pre-opening period of construction, renovation, fixturing and merchandise placement) and records the difference between the amounts charged to operations and amounts paid as deferred rent.

The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are amortized as a reduction of rent expense over the initial lease term.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Goodwill and Other Intangibles

Under the provisions of the Intangibles – Goodwill and Other Topic of the Codification, goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually, during the fourth quarter, for impairment. The Company will update the tests between annual tests if events or

circumstances occur that would more likely than not reduce the fair value of the business unit with which the goodwill is associated below its carrying amount. It is also required that intangible assets with finite lives be amortized over their respective lives to their estimated residual values, and reviewed for impairment in accordance with the Property, Plant and Equipment Topic of the Codification.

Intangible assets of the Company with indefinite lives are primarily goodwill and identifiable trademarks, net of amortization, acquired in connection with the acquisition of Schuh Group Ltd. in June 2011 and Hat World Corporation in April 2004. The Consolidated Balance Sheets include goodwill of $172.3 million for the Lids Sports Group, $100.7 million for the Schuh Group and $0.8 million for Licensed Brands at February 2, 2013 and $159.1 million for the Lids Sports Group, $99.9 million for the Schuh Group and $0.8 million for Licensed Brands at January 28, 2012. The Company tests for impairment of intangible assets with an indefinite life, relying on a number of factors including operating results, business plans, projected future cash flows and observable market data. The impairment test for identifiable assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying amount. The Company has not recorded an impairment charge for intangible assets.

In connection with acquisitions, the Company records goodwill on its Consolidated Financial Statements. This asset is not amortized but is subject to an impairment test at least annually, based on projected future cash flows from the acquired business discounted at a rate commensurate with the risk the Company considers to be inherent in its current business model. The Company performs the impairment test annually as of the close of its fiscal year, or more frequently if events or circumstances indicate that the value of the asset might be impaired.

As a result of the various acquisitions comprising the Lids Team Sports team dealer business, the Company carries goodwill at a value of $14.0 million on its Consolidated Balance Sheets related to such acquisitions. The Company found that the result of its annual impairment test, which valued the business at approximately $2.8 million in excess of its carrying value, indicated no impairment at that time. The Company may determine in future impairment tests that some or all of the carrying value of the goodwill may not be recoverable. Such a finding would require a write-off of the amount of the carrying value that is impaired, which would reduce the Company's profitability in the period of the impairment charge. Holding all other assumptions constant as of the measurement date, the Company noted that an increase in the weighted average cost of capital of 100 basis points would reduce the fair value of the Lids Team Sports business by $7.4 million. Furthermore, the Company noted that a decrease in projected annual revenue growth by one percent would reduce the fair value of the Lids Team Sports business by $0.4 million. However, if other assumptions do not remain constant, the fair value of the Lids Team Sports business may decrease by a greater amount.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Identifiable intangible assets of the Company with finite lives are trademarks, customer lists, in-place leases, non-compete agreements and a vendor contract. They are subject to amortization based upon

their estimated useful lives. Finite-lived intangible assets are evaluated for impairment using a process similar to that used to evaluate other definite-lived long-lived assets, a comparison of the fair value of the intangible asset with its carrying amount. An impairment loss is recognized for the amount

by which the carrying value exceeds the fair value of the asset.

Fair Value of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments at February 2, 2013 and January 28, 2012 are:

In thousands	February 2, 2013		January 28, 2012
	Carrying Amount	Fair Value	Carrying Amount		Fair Value
U.S. Revolver Borrowings	27,700	27,742	$	5,000	5,021
UK Term Loans	22,982	22,982	35,704		35,387

Debt fair values were determined using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 as defined in Note 5.

Carrying amounts reported on the Consolidated Balance Sheets for cash, cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these instruments.

Cost of Sales

For the Company’s retail operations, the cost of sales includes actual product cost, the cost of transportation to the Company’s warehouses from suppliers and the cost of transportation from the Company’s warehouses to the stores. Additionally, the cost of its distribution facilities allocated to its retail operations is included in cost of sales.

For the Company’s wholesale operations, the cost of sales includes the actual product cost and the cost of transportation to the Company’s warehouses from suppliers.

Selling and Administrative Expenses

Selling and administrative expenses include all operating costs of the Company excluding (i) those related to the transportation of products from the supplier to the warehouse, (ii) for its retail operations, those related to the transportation of products from the warehouse to the store and (iii) costs of its distribution facilities which are allocated to its retail operations. Wholesale and unallocated retail costs of distribution are included in selling and administrative expenses in the amounts of $8.2 million, $9.2 million and $5.9 million for Fiscal 2013, 2012 and 2011, respectively.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Gift Cards

The Company has a gift card program that began in calendar 1999 for its Lids Sports operations and calendar 2000 for its footwear operations. The gift cards issued to date do not expire. As such, the Company recognizes income when: (i) the gift card is redeemed by the customer; or (ii) the likelihood of the gift card being redeemed by the customer for the purchase of goods in the future is remote and there are no related escheat laws (referred to as “breakage”). The gift card breakage rate is based

upon historical redemption patterns and income is recognized for unredeemed gift cards in proportion to those historical redemption patterns.

Gift card breakage is recognized in revenues each period. Gift card breakage recognized as revenue was $0.7 million, $0.6 million and $0.7 million for Fiscal 2013, 2012 and 2011, respectively. The Consolidated Balance Sheets include an accrued liability for gift cards of $13.1 million and $10.4 million at February 2, 2013 and January 28, 2012, respectively.

Buying, Merchandising and Occupancy Costs

The Company records buying, merchandising and occupancy costs in selling and administrative expense. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin.

Shipping and Handling Costs

Shipping and handling costs related to inventory purchased from suppliers are included in the cost of inventory and are charged to cost of sales in the period that the inventory is sold. All other shipping and handling costs are charged to cost of sales in the period incurred except for wholesale and unallocated retail costs of distribution, which are included in selling and administrative expenses.

Preopening Costs

Costs associated with the opening of new stores are expensed as incurred, and are included in selling and administrative expenses on the accompanying Consolidated Statements of Operations.

Store Closings and Exit Costs

From time to time, the Company makes strategic decisions to close stores or exit locations or activities. If stores or operating activities to be closed or exited constitute components, as defined by the Property, Plant and Equipment Topic of the Codification, and will not result in a migration of customers and cash flows, these closures will be considered discontinued operations when the related assets meet the criteria to be classified as held for sale, or at the cease-use date, whichever occurs first. The results of operations of discontinued operations are presented retroactively, net of tax, as a separate component on the Consolidated Statements of Operations, if material individually or cumulatively. In Fiscal 2013, no store closings meeting the discontinued operations criteria have been material individually or cumulatively.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Assets related to planned store closures or other exit activities are reflected as assets held for sale and recorded at the lower of carrying value or fair value less costs to sell when the required criteria, as defined by the Property, Plant and Equipment Topic of the Codification, are satisfied. Depreciation ceases on the date that the held for sale criteria are met.

Assets related to planned store closures or other exit activities that do not meet the criteria to be classified as held for sale are evaluated for impairment in accordance with the Company’s normal impairment policy, but with consideration given to revised estimates of future cash flows. In any event, the remaining depreciable useful lives are evaluated and adjusted as necessary.

Exit costs related to anticipated lease termination costs, severance benefits and other expected charges are accrued for and recognized in accordance with the Exit or Disposal Cost Obligations Topic of the Codification.

Advertising Costs

Advertising costs are predominantly expensed as incurred. Advertising costs were $48.3 million, $42.5 million and $35.1 million for Fiscal 2013, 2012 and 2011, respectively. Direct response advertising costs for catalogs are capitalized in accordance with the Other Assets and Deferred Costs Topic for Capitalized Advertising Costs of the Codification. Such costs are amortized over the estimated future period as revenues are realized from such advertising, not to exceed six months.

The Consolidated Balance Sheets include prepaid assets for direct response advertising costs of $1.4 million and $1.1 million at February 2, 2013 and January 28, 2012.

Consideration to Resellers

The Company does not have any written buy-down programs with retailers, but the Company has provided certain retailers with markdown allowances for obsolete and slow moving products that are in the retailer’s inventory. The Company estimates these allowances and provides for them as reductions to revenues at the time revenues are recorded. Markdowns are negotiated with retailers and changes are made to the estimates as agreements are reached. Actual amounts for markdowns have not differed materially from estimates.

Cooperative Advertising

Cooperative advertising funds are made available to most of the Company’s wholesale footwear customers. In order for retailers to receive reimbursement under such programs, the retailer must meet specified advertising guidelines and provide appropriate documentation of expenses to be reimbursed. The Company’s cooperative advertising agreements require that wholesale customers present documentation or other evidence of specific advertisements or display materials used for the Company’s products by submitting the actual print advertisements presented in catalogs, newspaper inserts or other advertising circulars, or by permitting physical inspection of displays. Additionally, the Company’s cooperative advertising agreements require that the amount of reimbursement requested for such advertising or materials be supported by invoices or other evidence of the actual costs incurred by the

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

retailer. The Company accounts for these cooperative advertising costs as selling and administrative expenses, in accordance with the Revenue Recognition Topic for Customer Payments and Incentives of the Codification.

Cooperative advertising costs recognized in selling and administrative expenses were $3.5 million, $3.3 million and $3.2 million for Fiscal 2013, 2012 and 2011, respectively. During Fiscal 2013, 2012 and 2011, the Company’s cooperative advertising reimbursements paid did not exceed the fair value of the benefits received under those agreements.

Vendor Allowances

From time to time, the Company negotiates allowances from its vendors for markdowns taken or expected to be taken. These markdowns are typically negotiated on specific merchandise and for specific amounts. These specific allowances are recognized as a reduction in cost of sales in the

period in which the markdowns are taken. Markdown allowances not attached to specific inventory on hand or already sold are applied to concurrent or future purchases from each respective vendor.

The Company receives support from some of its vendors in the form of reimbursements for cooperative advertising and catalog costs for the launch and promotion of certain products. The reimbursements are agreed upon with vendors and represent specific, incremental, identifiable costs incurred by the Company in selling the vendor’s specific products. Such costs and the related reimbursements are accumulated and monitored on an individual vendor basis, pursuant to the respective cooperative advertising agreements with vendors. Such cooperative advertising reimbursements are recorded as a reduction of selling and administrative expenses in the same period in which the associated expense is incurred. If the amount of cash consideration received exceeds the costs being reimbursed, such excess amount would be recorded as a reduction of cost of sales.

Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $3.8 million, $3.0 million and $3.1 million for Fiscal 2013, 2012 and 2011, respectively. During Fiscal 2013, 2012 and 2011, the Company’s cooperative advertising reimbursements received were not in excess of the costs incurred.

Environmental Costs

Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated and are evaluated independently of any future claims for recovery. Generally, the timing of these accruals coincides with completion of a feasibility study or the Company's commitment to a formal plan of action. Costs of future expenditures for environmental remediation obligations are not discounted to their present value.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

Earnings Per Common Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities to issue common stock were exercised or converted to common stock (see Note 11).

Other Comprehensive Income

The Comprehensive Income Topic of the Codification requires, among other things, the Company’s pension liability adjustment, postretirement liability adjustment, unrealized gains or losses on foreign currency forward contracts and foreign currency translation adjustments to be included in other comprehensive income net of tax. Accumulated other comprehensive loss at February 2, 2013 consisted of $26.0 million of cumulative pension liability adjustment, net of tax, a cumulative post retirement liability adjustment of $0.3 million, net of tax, and a cumulative foreign currency translation adjustment of $1.9 million.

Business Segments

The Segment Reporting Topic of the Codification requires that companies disclose “operating segments” based on the way management disaggregates the Company’s operations for making internal operating decisions (see Note 14).

Derivative Instruments and Hedging Activities

The Derivatives and Hedging Topic of the Codification requires an entity to recognize all derivatives as either assets or liabilities in the Consolidated Balance Sheet and to measure those instruments at fair value. Under certain conditions, a derivative may be specifically designated as a fair value hedge or a cash flow hedge. The accounting for changes in the fair value of a derivative are recorded each period in current earnings or in other comprehensive income depending on the intended use of the derivative and the resulting designation. In prior periods, the Company entered into a small amount of foreign currency forward exchange contracts in order to reduce exposure to foreign currency exchange rate fluctuations in connection with inventory purchase commitments for its Johnston & Murphy Group.

There were no such contracts outstanding at February 2, 2013 or January 28, 2012. For the year ended February 2, 2013, the Company recorded an unrealized gain on foreign currency forward contracts of less than $0.1 million in accumulated other comprehensive loss, before taxes. The Company monitors the credit quality of the major international, national and regional financial institutions with which it enters into such contracts.

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Notes to Consolidated Financial Statements

Note 1

Summary of Significant Accounting Policies, Continued

New Accounting Principles

In June 2011, FASB issued Accounting Standards Update No. 2011-05, an update to the FASB Codification Comprehensive Income Topic, which amends the existing accounting standards related to the presentation of comprehensive income in a company's financial statements. This update requires that all non-owner changes in shareholders' equity be presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two statement approach, the first statement would present total net earnings and its components followed consecutively by a second statement that should present total other comprehensive income, the components of other comprehensive income and the total of comprehensive income. The update does not change the items that must be reported in other comprehensive income and must be applied retrospectively for all periods presented in the Consolidated Financial Statements. The Company adopted this update in the first quarter of Fiscal 2013 and has included a separate statement of comprehensive income in its Consolidated Financial Statements. The adoption did not have a significant impact on the Company’s results of operations or financial position.

Note 2

Acquisitions and Intangible Assets

Schuh Acquisition

On June 23, 2011, the Company, through its newly-formed, wholly-owned subsidiary Genesco (UK) Limited (“Genesco UK”), completed the acquisition of all the outstanding shares of Schuh Group Ltd. (“Schuh”) for a total purchase price of approximately £100.0 million, less £29.5 million outstanding under existing Schuh credit facilities, which remain in place, less a £1.9 million working capital adjustment and plus £6.2 million net cash acquired, with £5.0 million withheld and payable in June 2013. The Company financed the acquisition with borrowings under its existing credit facility and the balance from cash on hand. The purchase agreement also provides for deferred purchase price payments totaling £25 million, payable £15 million and £10 million on the third and fourth anniversaries of the closing, respectively, subject to the payees’ not having terminated their employment with Schuh under certain specified circumstances. This amount will be recorded as compensation expense and not reported as a component of the cost of the acquisition.

Headquartered in Scotland, Schuh is a specialty retailer of casual and athletic footwear sold through 79 retail stores in the United Kingdom and the Republic of Ireland and 13 concessions in Republic apparel stores as of February 2, 2013. The Company completed the acquisition in order to enhance its strategic development and prospects for growth and provide the Company with an established retail presence in the United Kingdom and improved insight into global fashion trends. The results of Schuh’s operations for Fiscal 2013 include net sales of $370.5 million and operating earnings of $7.9 million. The results of Schuh's operations for the fiscal year from the date of acquisition through January 28, 2012, including net sales of $212.3 million and operating earnings of $11.7 million, have been included in the Company's Consolidated Financial Statements for the fiscal year ended January 28, 2012. During the fiscal year ended January 28, 2012, the Company expensed $7.4 million in costs related to the

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Notes to Consolidated Financial Statements

Note 2

Acquisitions and Intangible Assets, Continued

acquisition. These costs were recorded as selling and administrative expenses on the Consolidated Statement of Operations. During Fiscal 2013, compensation expense related to the Schuh acquisition

deferred purchase price obligation was $12.1 million, compared to $7.2 million in Fiscal 2012. This expense is included in the operating earnings for the Schuh Group segment.

The acquisition has been accounted for using the purchase method in accordance with the Business Combinations Topic of the Codification. Accordingly, the total purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at acquisition as follows (amounts in thousands):

At June 23, 2011
Cash	$	24,836
Accounts receivable	4,673
Inventories	32,179
Other current assets	7,565
Property and equipment	30,314
Other non-current assets	6,977
Deferred taxes	4,197
Trademarks	27,224
Other intangibles	4,995
Goodwill	102,907
Accounts payable	(16,196		)
Other current liabilities	(24,718		)
Long-term debt (includes current portion)	(62,562		)
Other non-current liabilities	(26,637		)
Net Assets Acquired	$	115,754

The trademarks acquired include the concept names and are deemed to have an indefinite life. Other intangibles include a $1.7 million customer list, a $2.5 million asset to reflect the adjustment of acquired leases to market and a vendor contract of $0.8 million. The weighted average amortization period for the asset to adjust acquired leases to market is 2.7 years. The weighted average amortization period for customer lists is 4.6 years.

Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the acquisition of Schuh includes the expected purchasing synergies and other benefits that result from combining the Schuh business with the Company, improved insight into global fashion trends, any intangible assets that do not qualify for separate recognition and an acquired assembled workforce. The goodwill related to the Schuh acquisition is not deductible for tax purposes.

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Notes to Consolidated Financial Statements

Note 2

Acquisitions and Intangible Assets, Continued

The following pro forma information presents the results of operations of the Company as if the Schuh acquisition had taken place at the beginning of Fiscal 2011 or January 31, 2010. Pro forma adjustments have been made to reflect additional interest expense from the $89.0 million in debt associated with the acquisition, interest expense on the acquired debt, amortization of intangible assets and the related income tax effects. Pro forma earnings for the twelve months ended January 28, 2012 have been adjusted to exclude $7.4 million of costs related to the acquisition.

	Twelve Months Ended - Pro forma		Twelve Months Ended - Pro forma
In thousands, except per share data	January 28, 2012		January 29, 2011
Net sales	$	2,384,267	2,045,473
Earnings from continuing operations	86,378		57,897
Earnings per share:
Basic	$	3.71	$	2.49
Diluted	$	3.62	$	2.44

The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had the Schuh acquisition occurred at the beginning of Fiscal 2011.

Intangible Assets

Other intangibles by major classes were as follows:

	Leases						Customer Lists						Other*						Total
In thousands	Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012
Gross other intangibles	$	12,584		$	12,390		$	14,116		$	14,062		$	2,118		$	2,001		$	28,818		$	28,453
Accumulated amortization	(10,800		)	(9,477		)	(5,312		)	(3,292		)	(1,108		)	(876		)	(17,220		)	(13,645		)
Net Other Intangibles	$	1,784		$	2,913		$	8,804		$	10,770		$	1,010		$	1,125		$	11,598		$	14,808

*Includes non-compete agreements, vendor contract and backlog.

The amortization of intangibles, including trademarks, was $3.4 million, $3.2 million and $2.1 million for Fiscal 2013, 2012 and 2011, respectively. The amortization of intangibles, including trademarks, will be $3.2 million, $2.8 million, $2.0 million, $1.6 million and $1.0 million for Fiscal 2014, 2015, 2016, 2017 and 2018, respectively.

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Notes to Consolidated Financial Statements

Note 3

Asset Impairments and Other Charges and Discontinued Operations

Asset Impairments and Other Charges

In accordance with Company policy, assets are determined to be impaired when the revised estimated future cash flows are insufficient to recover the carrying costs. Impairment charges represent the excess of the carrying value over the fair value of those assets.

Asset impairment charges are reflected as a reduction of the net carrying value of property and equipment, and in asset impairment and other, net in the accompanying Consolidated Statements of Operations.

The Company recorded a pretax charge to earnings of $17.0 million in Fiscal 2013, including $15.6 million for network intrusion expenses, $1.4 million for retail store asset impairments, and $0.1 million for other legal matters.

The Company recorded a pretax charge to earnings of $2.7 million in Fiscal 2012, including $1.1 million for retail store asset impairments, $0.9 million for other legal matters and $0.7 million for network intrusion expenses.

The Company recorded a pretax charge to earnings of $8.6 million in Fiscal 2011, including $7.2 million for retail store asset impairments, $1.3 million for network intrusion expenses and $0.1 million for other legal matters.

Discontinued Operations

In Fiscal 2013, the Company recorded an additional charge to earnings of $0.8 million ($0.5 million net of tax) reflected in discontinued operations, primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company (see Note 13).

In Fiscal 2012, the Company recorded an additional charge to earnings of $1.7 million ($1.0 million net of tax) reflected in discontinued operations, including $1.8 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.1 million gain for excess provisions to prior discontinued operations (see Note 13).

In Fiscal 2011, the Company recorded an additional charge to earnings of $2.2 million ($1.3 million net of tax) reflected in discontinued operations, including $2.9 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.7 million gain for excess provisions to prior discontinued operations (see Note 13).

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Notes to Consolidated Financial Statements

Note 3

Asset Impairments and Other Charges and Discontinued Operations, Continued

Accrued Provision for Discontinued Operations
In thousands	Facility Shutdown Costs
Balance January 29, 2011	$	15,035
Additional provision Fiscal 2012	1,692
Charges and adjustments, net	(4,210		)
Balance January 28, 2012	12,517
Additional provision Fiscal 2013	796
Charges and adjustments, net	(1,962		)
Balance February 2, 2013*	11,351
Current provision for discontinued operations	7,192
Total Noncurrent Provision forDiscontinued Operations	$	4,159

*Includes a $11.9 million environmental provision, including $7.7 million in current provision for discontinued operations.

Note 4

Inventories

In thousands	February 2, 2013		January 28, 2012
Raw materials	$	24,223	$	30,636
Wholesale finished goods	57,161		53,453
Retail merchandise	423,960		351,024
Total Inventories	$	505,344	$	435,113

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Notes to Consolidated Financial Statements

Note 5

Fair Value

The Fair Value Measurements and Disclosures Topic of the Codification defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements. This Topic defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The following table presents the Company’s assets and liabilities measured at fair value on a nonrecurring basis as of February 2, 2013 aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands):

	Long-Lived Assets Held and Used		Level 1		Level 2		Level 3		Impairment Charges
Measured as of April 28, 2012	$	47	$	—	$	—	$	47	$	46
Measured as of July 28, 2012	$	54	$	—	$	—	$	54	$	391
Measured as of October 27, 2012	$	211	$	—	$	—	$	211	$	283
Measured as of February 2, 2013	$	131	$	—	$	—	$	131	$	676

In accordance with the Property, Plant and Equipment Topic of the Codification, the Company recorded $1.4 million of impairment charges as a result of the fair value measurement of its long-lived assets held and used on a nonrecurring basis during the twelve months ended February 2, 2013. These charges are reflected in asset impairments and other, net on the Consolidated Statements of Operations.

The Company used a discounted cash flow model to estimate the fair value of these long-lived assets. Discount rate and growth rate assumptions are derived from current economic conditions, expectations of management and projected trends of current operating results. As a result, the Company has determined that the majority of the inputs used to value its long-lived assets held and used are unobservable inputs that fall within Level 3 of the fair value hierarchy.

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Notes to Consolidated Financial Statements

Note 6

Long-Term Debt

In thousands	February 2, 2013		January 28, 2012
Revolver borrowings	$	27,700	$	5,000
UK term loans	22,982		35,704
Total long-term debt	50,682		40,704
Current portion	5,675		8,773
Total Noncurrent Portion of Long-Term Debt	$	45,007	$	31,931

Long-term debt maturing during each of the next five years ending in January each year is $5.7 million, $5.5 million, $39.5 million, $0.0 million and $0.0 million.

The Company had $27.7 million revolver borrowings outstanding under the Credit Facility at February 2, 2013 and $23.0 million in term loans outstanding under the U.K. Credit Facilities (described below) at February 2, 2013. The Company had outstanding letters of credit of $12.3 million under the Credit Facility at February 2, 2013. These letters of credit support product purchases and lease and insurance indemnifications.

Credit Facility:

On June 23, 2011, the Company entered into a First Amendment (the “Amendment”) to the Second Amended and Restated Credit Agreement (the “Credit Facility”) dated January 21, 2011 by and among the Company, certain subsidiaries of the Company party thereto, as other borrowers, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent. The Amendment raised the aggregate principal amount on the credit facility to $375.0 million from $300.0 million. The Credit Facility was amended to permit the Schuh acquisition (see Note 2). The Credit Facility expires January 21, 2016.

Deferred financing costs incurred of $3.0 million related to the Credit Facility were capitalized and are being amortized over five years. Deferred financing costs incurred of $0.7 million related to the Amendment were also capitalized and are being amortized over five years. These costs are included in other non-current assets on the Consolidated Balance Sheets.

The material terms of the Credit Facility, as amended, are as follows:

Availability

The amended Credit Facility is a revolving credit facility in the aggregate principal amount of $375.0 million, with a $40.0 million swingline loan sublimit, a $70.0 million sublimit for the issuance of standby letters of credit and a Canadian sub-facility of up to $8.0 million. The Company canceled its Tranche A-1 sublimit of up to $30.0 million as of December 27, 2011. The facility has a five-year term. Any swingline loans and any letters of credit and borrowings under the Canadian facility will reduce the availability under the Credit Facility on a dollar-for-dollar basis. In addition, the Company has an option to increase the availability under the Credit Facility by up to $75.0 million subject to, among

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Notes to Consolidated Financial Statements

Note 6

Long-Term Debt, Continued

other things, the receipt of commitments for the increased amount. The aggregate amount of the loans made and letters of credit issued under the Credit Facility shall at no time exceed the lesser of the facility amount ($375.0 million or, if increased at the Company’s option, subject to the receipt of commitments for the increased amount, up to $450.0 million) or the “Borrowing Base”, which generally is based on 90% of eligible inventory plus 85% of eligible wholesale receivables (50% of eligible wholesale receivables of the Lids Team Sports business) plus 90% of eligible credit card and debit card receivables less applicable reserves.

Collateral

The loans and other obligations under the Credit Facility are secured by a perfected first priority lien and security interest in all tangible and intangible assets and excludes real estate and leaseholds of the Company and certain subsidiaries of the Company. In addition, with the amendment to the Credit Facility, the Company pledged 65% of its interest in Genesco (UK) Limited.

Interest and Fees

The Company’s borrowings under the Credit Facility bear interest at varying rates that, at the Company’s option, can be based on:

Domestic Facility

(a) LIBOR plus the applicable margin (as defined and based on average Excess Availability during the prior quarter) or (b) the applicable margin plus the higher of (i) the Bank of America prime rate, (ii) the federal funds rate plus 0.50% or (iii) LIBOR for an interest period of thirty days plus 1.0%.

The initial applicable margin for base rate loans and U.S. Index rate loans is 1.25% and the initial applicable margin for LIBOR loans and BA (defined below) equivalent loans is 2.25%. Thereafter, the applicable margin will be subject to adjustment based on “Excess Availability” for the prior quarter. The term “Excess Availability” means, as of any given date, the excess (if any) of the Loan Cap (being the lesser of the total commitments and the Borrowing Base) over the outstanding credit extensions under the Credit Facility.

Interest on the Company’s borrowings is payable monthly in arrears for base rate loans and U.S. Index rate loans and at the end of each interest rate period (but not less often than quarterly) for LIBOR loans and BA equivalent loans.

The Company is also required to pay a commitment fee on the actual daily unused portions of the Credit Facility at a rate of (i) 0.50% per annum if less than 50% of the Credit Facility has been utilized on average during the immediately preceding fiscal quarter or (ii) 0.375% per annum if 50% or more of the Credit Facility has been utilized during such fiscal quarter.

Canadian Sub-Facility

(a) For loans made in Canadian dollars, the bankers’ acceptances (“BA”) rate plus the applicable margin or (b) the Canadian Prime Rate (defined as the highest of the (i) Bank of America Canadian Prime Rate, (ii) 0.50% plus the Bank of America (Canadian) overnight rate, and (iii) 1.0% plus the

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Note 6

Long-Term Debt, Continued

BA rate for a 30 day interest period) plus the applicable margin for loans made in U.S. dollars, LIBOR plus the applicable margin or the U.S. Index Rate (defined as the highest of the (i) Bank of America (Canada branch) U.S. dollar base rate, (ii) the Federal Funds rate plus 0.50%, and (iii) LIBOR for an interest period of thirty days plus 1.0%) plus the applicable margin.

Certain Covenants

The Company is not required to comply with any financial covenants unless Excess Availability is less than the greater of $27.5 million or 12.5% of the Loan Cap. If and during such time as Excess Availability is less than the greater of $27.5 million or 12.5% of the Loan Cap, the Credit Facility requires the Company to meet a minimum fixed charge coverage ratio of (a) an amount equal to consolidated EBITDA less capital expenditures and taxes paid in cash, in each case for such period, to (b) fixed charges for such period, of not less than 1.0:1.0. Excess Availability was $292.8 million at February 2, 2013. Because Excess Availability exceeded $27.5 million or 12.5% of the Loan Cap, the Company was not required to comply with this financial covenant at February 2, 2013.

In addition, the Credit Facility contains certain covenants that, among other things, restrict additional indebtedness, liens and encumbrances, loans and investments, acquisitions, dividends and other restricted payments, transactions with affiliates, asset dispositions, mergers and consolidations, prepayments or material amendments of other indebtedness and other matterscustomarily restricted in such agreements. The Credit Facility, as amended, permits the Company to incur up to $250.0 million of senior debt provided that certain terms and conditions are met.

Cash Dominion

The Credit Facility also contains cash dominion provisions that apply in the event that the Company’s Excess Availability is less than the greater of $35.0 million or 15% of the Loan Cap or there is an event of default under the Credit Facility.

Events of Default

The Credit Facility contains customary events of default, including, without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to certain other material indebtedness in excess of specified amounts and to agreements which would have a material adverse effect if breached, certain events of bankruptcy and insolvency, certain ERISA events, judgments in excess of specified amounts and change in control.

Certain of the lenders under the Credit Facility or their affiliates have provided, and may in the future provide, certain commercial banking, financial advisory, and investment banking services in the ordinary course of business for the Company, its subsidiaries and certain of its affiliates, for which they receive customary fees and commissions.

U.K. Credit Facility

In connection with the Schuh acquisition, Schuh entered into an amended and restated Senior Term Facilities Agreement and Working Capital Facility Letter, (collectively, the “UK Credit Facilities”)

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Note 6

Long-Term Debt, Continued

which provide for term loans of up to £29.5 million (a £15.5 million A term loan and £14.0 million B term loan) and a working capital facility of £5.0 million. The Working Capital Facility Letter was allowed to lapse in June 2012. The A term loan bears interest at LIBOR plus 2.50% per annum. The B term loan bears interest at LIBOR plus 3.75% per annum. The Company is not required to make any payments on the B term loan until it expires October 31, 2015, unless the Company’s Schuh Group segment has Excess Cash Flow (as defined in the UK Credit Facilities). The Company paid £4.8 million and £4.5 million on the B term loan in Fiscal 2013 and 2012, respectively.

The UK Credit Facilities contains certain covenants at the Schuh level including a minimum interest coverage covenant initially set at 4.25x and increasing to 4.50x in January 2012 and thereafter, a maximum leverage covenant initially set at 2.75x declining over time at various rates to 2.25x beginning in July 2012 and a minimum cash flow coverage of 1.10x. The Company was in compliance with all the covenants at February 2, 2013. The UK Credit Facilities are secured by a pledge of all the assets of Schuh and its subsidiaries.

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Notes to Consolidated Financial Statements

Note 7

Commitments Under Long-Term Leases

Operating Leases

The Company leases its office space and all of its retail store locations and transportation equipment under various noncancelable operating leases. The leases have varying terms and expire at various dates through 2030. The store leases in the United States, Puerto Rico and Canada typically have initial terms of between 5 and 10 years. The stores leases in the United Kingdom and the Republic of Ireland typically have initial terms of between 10 and 20 years. Generally, most of the leases require the Company to pay taxes, insurance, maintenance costs and contingent rentals based on sales. Approximately 4% of the Company’s leases contain renewal options.

Rental expense under operating leases of continuing operations was:

In thousands	2013			2012			2011
Minimum rentals	$	215,516		$	192,175		$	167,558
Contingent rentals	14,786			12,918			5,827
Sublease rentals	(667		)	(686		)	(642		)
Total Rental Expense	$	229,635		$	204,407		$	172,743

Minimum rental commitments payable in future years are:

Fiscal Years	In thousands
2014	$	223,495
2015	210,019
2016	191,642
2017	159,488
2018	127,982
Later years	342,534
Total Minimum Rental Commitments	$	1,255,160

For leases that contain predetermined fixed escalations of the minimum rentals, the related rental expense is recognized on a straight-line basis and the cumulative expense recognized on the straight-line basis in excess of the cumulative payments is included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets. The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are recorded as deferred rent and amortized as a reduction of rent expense over the initial lease term. Tenant allowances of $20.0 million and $17.6 million for Fiscal 2013 and 2012, respectively, and deferred rent of $37.9 million and $35.2 million for Fiscal 2013 and 2012, respectively, are included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets.

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Notes to Consolidated Financial Statements

Note 8

Equity

Non-Redeemable Preferred Stock

	Shares Authorized		Number of Shares			Amounts in Thousands									Common Convertible Ratio		No. of Votes per share
Class (In order of preference)*			2013	2012	2011	2013			2012			2011
Subordinated Serial Preferred (Cumulative)
Aggregate	3,000,000	**	0	0	0	—			—			—			N/A		N/A
$2.30 Series 1	64,368		16,203	30,368	33,497	$	648		$	1,215		$	1,340		.83		1
$4.75 Series 3	40,449		7,398	11,643	12,163	740			1,164			1,216			2.11		2
$4.75 Series 4	53,764		3,247	3,397	3,579	325			340			358			1.52		1
Series 6	800,000		0	0	0	0			0			0					100
$1.50 Subordinated Cumulative Preferred	5,000,000		30,067	30,067	30,067	902			902			902					1
			56,915	75,475	79,306	2,615			3,621			3,816
Employees’ Subordinated Convertible Preferred	5,000,000		46,852	47,922	49,192	1,405			1,437			1,476			1.00	***	1
Stated Value of Issued Shares						4,020			5,058			5,292
Employees’ Preferred Stock Purchase Accounts						(96		)	(101		)	(109		)
Total Non-Redeemable Preferred Stock						$	3,924		$	4,957		$	5,183

*    In order of preference for liquidation and dividends.

** The Company’s charter permits the board of directors to issue Subordinated Serial Preferred Stock in as many series, each with as many shares and such rights and preferences as the board may designate.

***    Also convertible into one share of $1.50 Subordinated Cumulative Preferred Stock.

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Notes to Consolidated Financial Statements

Note 8

Equity, Continued

Preferred Stock Transactions

In thousands	Non-Redeemable Preferred Stock			Non-Redeemable Employees’ Preferred Stock			Employees’ Preferred Stock Purchase Accounts			Total Non-Redeemable Preferred Stock
Balance January 30, 2010	$	3,833		$	1,510		$	(123	)	$	5,220
Other	(17		)	(34		)	14			(37		)
Balance January 29, 2011	3,816			1,476			(109		)	5,183
Other	(195		)	(39		)	8			(226		)
Balance January 28, 2012	3,621			1,437			(101		)	4,957
Other	(1,006		)	(32		)	5			(1,033		)
Balance February 2, 2013	$	2,615		$	1,405		$	(96	)	$	3,924

Subordinated Serial Preferred Stock (Cumulative):

Stated and redemption values for Series 1 are $40 per share and for Series 3 and 4 are each $100 per share plus accumulated dividends; liquidation value for Series 1 is $40 per share plus accumulated dividends and for Series 3 and 4 is $100 per share plus accumulated dividends.

The Company’s shareholders’ rights plan grants to common shareholders the right to purchase, at a specified exercise price, a fraction of a share of subordinated serial preferred stock, Series 6, in the event of an acquisition of, or an announced tender offer for, 15% or more of the Company’s outstanding common stock. Upon any such event, each right also entitles the holder (other than the person making such acquisition or tender offer) to purchase, at the exercise price, shares of common stock having a market value of twice the exercise price. In the event the Company is acquired in a transaction in which the Company is not the surviving corporation, each right would entitle its holder to purchase, at the exercise price, shares of the acquiring company having a market value of twice the exercise price. The rights expire in March 2020, are redeemable under certain circumstances for $.01 per right and are subject to exchange for one share of common stock or an equivalent amount of preferred stock at any time after the event which makes the rights exercisable and before a majority of the Company’s common stock is acquired.

$1.50 Subordinated Cumulative Preferred Stock:

Stated and liquidation values and redemption price are 88 times the average quarterly per share dividend paid on common stock for the previous eight quarters (if any), but in no event less than $30 per share plus accumulated dividends.

Employees’ Subordinated Convertible Preferred Stock:

Stated and liquidation values are 88 times the average quarterly per share dividend paid on common stock for the previous eight quarters (if any), but in no event less than $30 per share.

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Notes to Consolidated Financial Statements

Note 8

Equity, Continued

Common Stock:

Common stock-$1 par value. Authorized: 80,000,000 shares; issued: February 2, 2013 – 24,484,915 shares; January 28, 2012 –24,757,826 shares. There were 488,464 shares held in treasury at February 2, 2013 and January 28, 2012. Each outstanding share is entitled to one vote. At February 2, 2013, common shares were reserved as follows: 80,848 shares for conversion of preferred stock; 186,835 shares for the 1996 Stock Incentive Plan; 76,320 shares for the 2005 Stock Incentive Plan; 1,585,443 shares for the 2009 Amended and Restated Stock Incentive Plan; and 313,438 shares for the Genesco Employee Stock Purchase Plan.

For the year ended February 2, 2013, 223,618 shares of common stock were issued for the exercise of stock options at an average weighted exercise price of $21.50, for a total of $4.8 million; 194,232 shares of common stock were issued as restricted shares as part of the 2009 Amended and Restated Equity Incentive Plan; 2,463 shares of common stock were issued for the purchase of shares under the Employee Stock Purchase Plan at an average weighted market price of $63.84, for a total of $0.2 million; 10,224 shares were issued to directors for no consideration; 75,552 shares were withheld for taxes on restricted stock vested in Fiscal 2013; 4,020 shares of restricted stock were forfeited in Fiscal 2013; and 22,028 shares were issued in miscellaneous conversions of Series 1, 3, 4 and Employees’ Subordinated Convertible Preferred Stock. The 223,618 options exercised were all fixed stock options (see Note 12). In addition, the Company repurchased and retired 645,904 shares of common stock at an average weighted market price of $58.29 for a total of $37.6 million.

For the year ended January 28, 2012, 390,357 shares of common stock were issued for the exercise of stock options at an average weighted exercise price of $24.82, for a total of $9.7 million; 289,407 shares of common stock were issued as restricted shares as part of the 2009 Amended and Restated Equity Incentive Plan; 2,717 shares of common stock were issued for the purchase of shares under the Employee Stock Purchase Plan at an average weighted market price of $48.95, for a total of $0.1 million; 14,643 shares were issued to directors for no consideration; 93,089 shares were withheld for taxes on restricted stock vested in Fiscal 2012; 14,081 shares of restricted stock were forfeited in Fiscal 2012; and 5,238 shares were issued in miscellaneous conversions of Series 1, 3, 4 and Employees’ Subordinated Convertible Preferred Stock. The 390,357 options exercised were all fixed stock options (see Note 12).

For the year ended January 29, 2011, 118,450 shares of common stock were issued for the exercise of stock options at an average weighted exercise price of $18.77, for a total of $2.2 million; 404,995 shares of common stock were issued as restricted shares as part of the 2009 Equity Incentive Plan; 4,230 shares of common stock were issued for the purchase of shares under the Employee Stock Purchase Plan at an average weighted market price of $28.39, for a total of $0.1 million; 17,838 shares were issued to directors for no consideration; 81,731 shares were withheld for taxes on restricted stock vested in Fiscal 2011; 1,575 shares of restricted stock were forfeited in Fiscal 2011; and 1,501 shares were issued in miscellaneous conversions of Series 3 and Employees’ Subordinated Convertible Preferred Stock. The 118,450 options exercised were all fixed stock options (see Note 12). In addition, the Company repurchased and retired 863,767 shares of common stock at an average weighted market price of $28.74 for a total of $24.8 million.

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Notes to Consolidated Financial Statements

Note 8

Equity, Continued

Restrictions on Dividends and Redemptions of Capital Stock:

The Company’s charter provides that no dividends may be paid and no shares of capital stock acquired for value if there are dividend or redemption arrearages on any senior or equally ranked stock. Exchanges of subordinated serial preferred stock for common stock or other stock junior to such exchanged stock are permitted.

The Company’s Credit Facility prohibits the payment of dividends and other restricted payments unless as of the date of the making of any Restricted Payment or consummation of any Acquisition, (a) no Default or Event of Default exists or would arise after giving effect to such Restricted Payment or Acquisition, and (b) either (i) the Borrowers have pro forma projected Excess Availability for the following six month period equal to or greater than 50% of the Loan Cap, after giving pro forma effect to such Restricted Payment or Acquisition, or (ii) (A) the Borrowers have pro forma projected Excess Availability for the following six month period of less than 50% of the Loan Cap but equal to or greater than 20% of the Loan Cap, after giving pro forma effect to the Restricted Payment or Acquisition, and (B) the Fixed Charge Coverage Ratio, on a pro-forma basis for the twelve months preceding such Restricted Payment or Acquisition, will be equal to or greater than 1.0:1.0and (c) after giving effect to such Restricted Payment or Acquisition, the Borrowers are Solvent. The Company’s management does not expect availability under the Credit Facility to fall below the requirements listed above during Fiscal 2014. The Company’s UK Credit Facility prohibits the payment of any dividends by Schuh or its subsidiaries to the Company.

 Dividends declared for Fiscal 2013 for the Company’s Subordinated Serial Preferred Stock, $2.30 Series 1, $4.75 Series 3 and $4.75 Series 4, and the Company’s $1.50 Subordinated Cumulative Preferred Stock were $0.1 million in the aggregate.

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Notes to Consolidated Financial Statements

Note 8

Equity, Continued

Changes in the Shares of the Company’s Capital Stock

	Common Stock		Non- Redeemable Preferred Stock		Employees’ Preferred Stock
Issued at January 30, 2010	24,562,693		79,469		50,350
Exercise of options	118,450		0		0
Issue restricted stock	422,833		0		0
Issue shares—Employee Stock Purchase Plan	4,230		0		0
Shares repurchased	(863,767	)	0		0
Other	(81,805	)	(163	)	(1,158	)
Issued at January 29, 2011	24,162,634		79,306		49,192
Exercise of options	390,357		0		0
Issue restricted stock	304,050		0		0
Issue shares—Employee Stock Purchase Plan	2,717		0		0
Other	(101,932	)	(3,831	)	(1,270	)
Issued at January 28, 2012	24,757,826		75,475		47,922
Exercise of options	223,618		0		0
Issue restricted stock	204,456		0		0
Issue shares—Employee Stock Purchase Plan	2,463		0		0
Shares repurchased	(645,904	)	0		0
Other	(57,544	)	(18,560	)	(1,070	)
Issued at February 2, 2013	24,484,915		56,915		46,852
Less shares repurchased and held in treasury	488,464		0		0
Outstanding at February 2, 2013	23,996,451		56,915		46,852

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Notes to Consolidated Financial Statements

Note 9

Income Taxes

Income tax expense from continuing operations is comprised of the following:

In thousands	2013			2012			2011
Current
U.S. federal	$	50,859		$	42,103		$	35,103
International	10,072			2,007			1,474
State	8,841			8,952			5,703
Total Current Income Tax Expense	69,772			53,062			42,280
Deferred
U.S. federal	(7,445		)	(175		)	(8,165		)
International	(7,148		)	4,370			—
State	(3,238		)	(1,463		)	(3,701		)
Total Deferred Income Tax Expense (Benefit)	(17,831		)	2,732			(11,866		)
Total Income Tax Expense – Continuing Operations	$	51,941		$	55,794		$	30,414

Discontinued operations were recorded net of income tax benefit of approximately $(0.3) million, $(0.7) million and $(0.9) million in Fiscal 2013, 2012 and 2011, respectively.

As a result of the exercise of stock options and vesting of restricted stock during Fiscal 2013, 2012 and 2011, the Company realized an additional income tax benefit of approximately $4.8 million, $4.6 million and $1.3 million, respectively. These tax benefits are reflected as an adjustment to additional paid-in capital.

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Notes to Consolidated Financial Statements

Note 9

Income Taxes, Continued

 Deferred tax assets and liabilities are comprised of the following:

	February 2,			January 28,
In thousands	2013			2012
Identified intangibles	$	(28,076	)	$	(28,125	)
Prepaids	(2,943		)	(2,814		)
Convertible bonds	(3,001		)	(3,001		)
Total deferred tax liabilities	(34,020		)	(33,940		)
Options	965			1,289
Deferred rent	5,847			7,043
Pensions	8,321			8,936
Expense accruals	24,483			17,146
Uniform capitalization costs	12,539			9,893
Book over tax depreciation	13,783			11,756
Provisions for discontinued operations and restructurings	4,745			5,201
Inventory valuation	2,015			2,397
Tax net operating loss and credit carryforwards	3,535			8,306
Allowances for bad debts and notes	1,598			1,641
Deferred compensation and restricted stock	6,382			5,174
Other	3,500			5,460
Gross deferred tax assets	87,713			84,242
Deferred tax asset valuation allowance	(3,541		)	(3,790		)
Deferred tax asset net of valuation allowance	84,172			80,452
Net Deferred Tax Assets	$	50,152		$	46,512

The deferred tax balances have been classified in the Consolidated Balance Sheets as follows:

	2013			2012
Net current asset	$	23,725		$	22,541
Net non-current asset	26,448			28,152
Net non-current liability	(21		)	(4,181		)
Net Deferred Tax Assets	$	50,152		$	46,512

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Notes to Consolidated Financial Statements

Note 9

Income Taxes, Continued

Reconciliation of the United States federal statutory rate to the Company’s effective tax rate from continuing operations is as follows:

	2013		2012		2011
U. S. federal statutory rate of tax	35.00	%	35.00	%	35.00	%
State taxes (net of federal tax benefit)	3.17		3.53		2.59
Foreign rate differential	(1.78	)	(1.92	)	—
Change in valuation allowance	(0.17	)	0.71		—
Permanent items	2.00		2.35		(0.83	)
Uncertain tax positions	(5.80	)	—		(1.56	)
Other	(0.54	)	0.53		0.60
Effective Tax Rate	31.88	%	40.20	%	35.80	%

The provision for income taxes resulted in an effective tax rate for continuing operations of 31.88% for Fiscal 2013, compared with an effective tax rate of 40.20% for Fiscal 2012. The decrease in the effective tax rate for Fiscal 2013 was primarily attributable to the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions.

As of February 2, 2013 and January 28, 2012, the Company had a federal net operating loss carryforward, which was assumed in one of the prior year acquisitions, of $1.5 million and $1.6 million, respectively, which expire in fiscal years 2025 through 2030.

As of February 2, 2013, January 28, 2012 and January 29, 2011, the Company had state net operating loss carryforwards of $0.1 million, $0.1 million and $0.4 million, respectively, which expire in fiscal years 2016 through 2031.

As of February 2, 2013, January 28, 2012 and January 29, 2011, the Company had state tax credits of $0.9 million, $0.6 million and $0.5 million, respectively. These credits expire in fiscal years 2014 through 2019.

As of February 2, 2013, January 28, 2012 and January 29, 2011, the Company had foreign tax credits of $0.0 million, $0.1 million and $0.3 million, respectively. These credits will expire in fiscal year 2022.

As of February 2, 2013 and January 28, 2012, the Company had foreign net operating losses of $2.4 million and $7.2 million, respectively, which have no expiration.

As of February 2, 2013, as part of the Schuh acquisition, the Company has provided a valuation allowance of approximately $3.5 million on deferred tax assets associated primarily with foreign net operating losses and foreign fixed assets for which management has determined it is more likely than

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Notes to Consolidated Financial Statements

Note 9

Income Taxes, Continued

not that the deferred tax assets will not be realized. The $0.3 million net decrease in the valuation allowance during Fiscal 2013 from the $3.8 million provided for as of January 28, 2012 determined in

accordance with the Income Tax Topic of the Codification relate to foreign net operating losses arising in Fiscal 2012 and increases in fixed asset-related deferred tax assets that will more likely than not

never be realized. Management believes that it is more likely than not that the remaining deferred tax assets will be fully realized.

As of February 2, 2013, the Company has not provided for withholding or United States federal income taxes on approximately $26.0 million of accumulated undistributed earnings of its foreign subsidiaries as they are considered by management to be permanently reinvested. If these undistributed earnings were not considered to be permanently reinvested, the related U.S. tax liability may be reduced by foreign income taxes paid on those earnings. Because of the complexities involved with the hypothetical tax calculation, a determination of the unrecognized deferred tax liability related to these undistributed earnings is not practicable.

The methodology in the Income Tax Topic of the Codification prescribes that a company should use a more-likely-than-not recognition threshold based on the technical merits of the tax position taken. Tax positions that meet the more-likely-than-not recognition threshold should be measured in order to determine the tax benefit to be recognized in the financial statements.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for Fiscal 2013, 2012 and 2011.

In thousands	2013			2012			2011
Unrecognized Tax Benefit – Beginning of Period	$	20,467		$	14,167		$	17,004
Gross Increases (Decreases) – Tax Positions in a Prior Period	(2,464		)	(29		)	(517		)
Gross Increases – Tax Positions in a Current Period	133			6,986			473
Settlements	(449		)	(533		)	(2,605		)
Lapse of Statutes of Limitations	(7,250		)	(124		)	(188		)
Unrecognized Tax Benefit – End of Period	$	10,437		$	20,467		$	14,167

Unrecognized tax benefits were approximately $10.4 million, $20.5 million and $14.2 million as of February 2, 2013, January 28, 2012 and January 29, 2011, respectively. The amount of unrecognized tax benefits as of February 2, 2013, January 28, 2012 and January 29, 2011, which would impact the annual effective rate if recognized were $2.4 million, $12.6 million and $13.1 million, respectively. The Company believes it is reasonably possible that there will be a $0.7 million decrease in the gross tax liability for uncertain tax positions within the next 12 months based upon the expiration of statutes of limitation.

The Company recognizes interest expense and penalties related to the above unrecognized tax benefits within income tax expense on the Consolidated Statements of Operations. Related to the uncertain tax benefits noted above, the Company recorded interest and penalties of approximately $(1.2) million expense and $0.1 million, respectively, during Fiscal 2013, $0.5 million expense and $0.0 million, respectively, during Fiscal 2012 and $(0.5) million income and $(0.2) million income, respectively,

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Notes to Consolidated Financial Statements

Note 9

Income Taxes, Continued

during Fiscal 2011. The Company recognized a liability for accrued interest and penalties of $1.1 million and $0.2 million, respectively, as of February 2, 2013 and $2.3 million and $0.2 million, respectively,

as of January 28, 2012. The long-term portion of the unrecognized tax benefits and related accrued interest and penalties are included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets.

Income tax reserves are determined using the methodology required by the Income Tax Topic of the Codification.

The Company and its subsidiaries file income tax returns in federal and in many state and local jurisdictions as well as foreign jurisdictions. With few exceptions, the Company's U.S. federal and state and local income tax returns for fiscal years ended January 30, 2010 and beyond remain subject to examination. In addition, the Company has subsidiaries in various foreign jurisdictions that have statutes of limitation generally ranging from two to six years.

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans

Defined Benefit Pension Plans

The Company sponsored a non-contributory, defined benefit pension plan. As of January 1, 1996, the Company amended the plan to change the pension benefit formula to a cash balance formula from the then existing benefit calculation based upon years of service and final average pay. The benefits accrued under the old formula were frozen as of December 31, 1995. Upon retirement, the participant will receive this accrued benefit payable as an annuity. In addition, the participant will receive as a lump sum (or annuity if desired) the amount credited to the participant’s cash balance account under the new formula. Effective January 1, 2005, the Company froze the defined benefit cash balance plan which prevents any new entrants into the plan as of that date as well as affects the amounts credited to the participants’ accounts as discussed below.

Under the cash balance formula, beginning January 1, 1996, the Company credited each participants’ account annually with an amount equal to 4% of the participant’s compensation plus 4% of the participant’s compensation in excess of the Social Security taxable wage base. Beginning December 31, 1996 and annually thereafter, the account balance of each active participant was credited with 7% interest calculated on the sum of the balance as of the beginning of the plan year and 50% of the amounts credited to the account, other than interest, for the plan year. The account balance of each participant who was inactive would be credited with interest at the lesser of 7% or the 30 year Treasury rate. Under the frozen plan, each participants’ cash balance plan account will be credited annually only with interest at the 30 year Treasury rate, not to exceed 7%, until the participant retires. The amount credited each year will be based on the rate at the end of the prior year.

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Notes to Consolidated Financial Statements

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

Other Postretirement Benefit Plans

The Company provides health care benefits for early retirees and life insurance benefits for certain retirees not covered by collective bargaining agreements. Under the health care plan, early retirees are eligible for benefits until age 65. Employees who meet certain requirements are eligible for life insurance benefits upon retirement. The Company accrues such benefits during the period in which the employee renders service.

Obligations and Funded Status

Change in Benefit Obligation

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Benefit obligation at beginning of year	$	118,644		$	110,793		$	3,908		$	3,480
Service cost	350			250			356			166
Interest cost	4,961			5,597			157			174
Plan participants’ contributions	0			0			74			71
Benefits paid	(9,038		)	(8,805		)	(221		)	(242		)
Actuarial loss	4,209			10,809			213			259
Benefit Obligation at End of Year	$	119,126		$	118,644		$	4,487		$	3,908

Change in Plan Assets

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Fair value of plan assets at beginning of year	$	96,443		$	98,887		$	0		$	0
Actual gain on plan assets	11,207			6,111			0			0
Employer contributions	0			250			147			171
Plan participants’ contributions	0			0			74			71
Benefits paid	(9,038		)	(8,805		)	(221		)	(242		)
Fair Value of Plan Assets at End of Year	$	98,612		$	96,443		$	0		$	0
Funded Status at End of Year	$	(20,514	)	$	(22,201	)	$	(4,487	)	$	(3,908	)

Amounts recognized in the Consolidated Balance Sheets consist of:

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Noncurrent assets	$	0		$	0		$	0		$	0
Current liabilities	0			0			(160		)	(160		)
Noncurrent liabilities	(20,514		)	(22,201		)	(4,327		)	(3,748		)
Net Amount Recognized	$	(20,514	)	$	(22,201	)	$	(4,487	)	$	(3,908	)

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Notes to Consolidated Financial Statements

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

Amounts recognized in accumulated other comprehensive income consist of:

	Pension Benefits				Other Benefits
In thousands	2013		2012		2013		2012
Prior service cost	$	0	$	4	$	0	$	0
Net loss	42,879		48,906		566		437
Total Recognized in Accumulated Other Comprehensive Loss	$	42,879	$	48,910	$	566	$	437

In thousands
Pension Benefits	February 2, 2013		January 28, 2012
Projected benefit obligation	$	119,126	$	118,644
Accumulated benefit obligation	119,126		118,644
Fair value of plan assets	98,612		96,443

Components of Net Periodic Benefit Cost

Net Periodic Benefit Cost

	Pension Benefits									Other Benefits
In thousands	2013			2012			2011			2013		2012		2011
Service cost	$	350		$	250		$	250		$	356	$	166	$	144
Interest cost	4,961			5,597			5,897			157		174		170
Expected return on plan assets	(7,003		)	(7,807		)	(8,089		)	—		—		—
Amortization:
Prior service cost	4			4			4			—		—		—
Losses	6,032			4,728			4,235			84		79		59
Net amortization	$	6,036		$	4,732		$	4,239		$	84	$	79	$	59
Net Periodic Benefit Cost	$	4,344		$	2,772		$	2,297		$	597	$	419	$	373

Reconciliation of Accumulated Other Comprehensive Income

	Pension Benefits			Other Benefits
In thousands	2013			2013
Net loss (gain)	$	5		$	(84	)
Amortization of prior service cost	(4		)	—
Amortization of net actuarial (loss) gain	(6,032		)	213
Total Recognized in Other Comprehensive Income	$	(6,031	)	$	129
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	(1,687	)	$	726

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Notes to Consolidated Financial Statements

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

The estimated net loss and prior service cost for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year

are $6.5 million and $0.0, respectively. The estimated net loss for the other postretirement benefit plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $0.1 million.

Weighted-average assumptions used to determine benefit obligations

	Pension Benefits				Other Benefits
	2013		2012		2013		2012
Discount rate	4.00	%	4.35	%	4.01	%	4.17	%
Rate of compensation increase	NA		NA		—		—

For Fiscal 2013 and 2012, the discount rate was based on a yield curve of high quality corporate bonds with cash flows matching the Company’s planned expected benefit payments.

Weighted-average assumptions used to determine net periodic benefit costs

	Pension Benefits						Other Benefits
	2013		2012		2011		2013		2012		2011
Discount rate	4.35	%	5.25	%	5.625	%	4.17	%	5.25	%	5.50	%
Expected long-term rate of return on plan assets	7.75	%	8.25	%	8.25	%	—		—		—
Rate of compensation increase	NA		NA		NA		—		—		—

The weighted average discount rate used to measure the benefit obligation for the pension plan decreased from 4.35% to 4.00% from Fiscal 2012 to Fiscal 2013. The decrease in the rate increased the accumulated benefit obligation by $4.3 million and increased the projected benefit obligation by $4.3 million. The weighted average discount rate used to measure the benefit obligation for the pension plan decreased from 5.25% to 4.35% from Fiscal 2011 to Fiscal 2012. The decrease in the rate increased the accumulated benefit obligation by $10.4 million and increased the projected benefit obligation by $10.4 million.

To develop the expected long-term rate of return on assets assumption, the Company considered historical asset returns, the current asset allocation and future expectations. Considering this information, the Company selected a 7.75% long-term rate of return on assets assumption.

Assumed health care cost trend rates

	2013		2012
Health care cost trend rate assumed for next year	7.0	%	7.5	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5	%	5	%
Year that the rate reaches the ultimate trend rate	2017		2017

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Notes to Consolidated Financial Statements

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

The effect on disclosed information of one percentage point change in the assumed health care cost trend rate for each future year is shown below.

In thousands	1% Increase in Rates		1% Decrease in Rates
Aggregated service and interest cost	$	153	$	70
Accumulated postretirement benefit obligation	$	735	$	578

Plan Assets

The Company’s pension plan weighted average asset allocations as of February 2, 2013 and January 28, 2012, by asset category are as follows:

	Plan Assets
	February 2, 2013		January 28, 2012
Asset Category
Equity securities	66	%	63	%
Debt securities	34	%	37	%
Other	0	%	0	%
Total	100	%	100	%

The investment strategy of the Trust is to ensure over the long-term an asset pool, that when combined with Company contributions, will support benefit obligations to participants, retirees and beneficiaries. Investment management responsibilities of plan assets are delegated to outside investment advisers and overseen by an Investment Committee comprised of members of the Company’s senior management that is appointed by the Board of Directors. The Company has an investment policy that provides direction on the implementation of this strategy.

The investment policy establishes a target allocation for each asset class and investment manager. The actual asset allocation versus the established target is reviewed at least quarterly and is maintained within a +/- 5% range of the target asset allocation. Target allocations are 50% domestic equity, 13% international equity, 35% fixed income and 2% cash investments.

All investments are made solely in the interest of the participants and beneficiaries for the exclusive purposes of providing benefits to such participants and their beneficiaries and defraying the expenses related to administering the Trust as determined by the Investment Committee. All assets shall be properly diversified to reduce the potential of a single security or single sector of securities having a disproportionate impact on the portfolio.

The Committee utilizes an outside investment consultant and a team of investment managers to implement its various investment strategies. Performance of the managers is reviewed quarterly and the investment objectives are consistently evaluated.

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Notes to Consolidated Financial Statements

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

At February 2, 2013 and January 28, 2012, there were no Company related assets in the plan.

Generally, quoted market prices are used to value pension plan assets. Equities, some fixed income securities, publicly traded investment funds and U.S. government obligations are valued at the closing price reported on the active market on which the individual security is traded.

The following tables present the pension plan assets by level within the fair value hierarchy as of February 2, 2013 and January 28, 2012.

February 2, 2013	Level 1			Level 2		Level 3		Total
Equity Securities:
International securities	$	13,757		$	—	$	—	$	13,757
U.S. securities	51,011			—		—		51,011
Fixed Income Securities	33,633			—		—		33,633
Other:
Cash Equivalents	235			—		—		235
Other (includes receivables and payables)	(24		)	—		—		(24		)
Total Pension Plan Assets	$	98,612		$	—	$	—	$	98,612

January 28, 2012	Level 1			Level 2		Level 3		Total
Equity Securities:
International securities	$	11,754		$	—	$	—	$	11,754
U.S. securities	49,321			—		—		49,321
Fixed Income Securities	35,164			—		—		35,164
Other:
Cash Equivalents	267			—		—		267
Other (includes receivables and payables)	(63		)	—		—		(63		)
Total Pension Plan Assets	$	96,443		$	—	$	—	$	96,443

Cash Flows

Return of Assets

There was no return of assets from the plan to the Company in Fiscal year 2013 and no plan assets are projected to be returned to the Company in Fiscal 2014.

Contributions

There was no ERISA cash requirement for the plan in 2012 and none is projected to be required in 2013. It is the Company’s policy to contribute enough cash to maintain at least an 80% funding level.

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Notes to Consolidated Financial Statements

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

Estimated Future Benefit Payments

Expected benefit payments from the trust, including future service and pay, are as follows:

Estimated future payments	Pension Benefits ($ in millions)		Other benefits ($ in millions)
2013	$	8.7	$	0.2
2014	8.7		0.2
2015	8.4		0.2
2016	8.3		0.2
2017	8.1		0.2
2018 – 2022	38.1		1.3

Section 401(k) Savings Plan

The Company has a Section 401(k) Savings Plan available to employees who have completed one full year of service and are age 21 or older.

Concurrent with the January 1, 1996 amendment to the pension plan (discussed previously), the Company amended the 401(k) savings plan to make matching contributions equal to 50% of each employee’s contribution of up to 5% of salary. Concurrent with freezing the defined benefit pension plan effective January 1, 2005, the Company amended the 401(k) savings plan to change the formula for matching contributions. Since January 1, 2005, the Company has matched 100% of each employee’s contribution of up to 3% of salary and 50% of the next 2% of salary. In addition, for those employees hired before December 31, 2004, who were eligible for the Company’s cash balance retirement plan before it was frozen, the Company annually makes an additional contribution of 2 1/2 % of salary to each employee’s account. In calendar 2005 and future years, participants are immediately vested in their contributions and the Company’s matching contribution plus actual earnings thereon. The contribution expense to the Company for the matching program was approximately $5.3 million for Fiscal 2013, $4.2 million for Fiscal 2012 and $3.8 million for Fiscal 2011.

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Notes to Consolidated Financial Statements

Note 11

Earnings Per Share

	For the Year Ended February 2, 2013						For the Year Ended January 28, 2012						For the Year Ended January 29, 2011
(In thousands, except per share amounts)	Income (Numerator)			Shares (Denominator)	Per-Share Amount		Income (Numerator)			Shares (Denominator)	Per-Share Amount		Income (Numerator)			Shares (Denominator)	Per-Share Amount
Earnings from continuing operations	$	110,998					$	82,984					$	54,547
Less: Preferred stock dividends	(147		)				(193		)				(197		)
Basic EPS from continuing operations
Income available to common shareholders	110,851			23,584	$	4.70	82,791			23,234	$	3.56	54,350			23,209	$	2.34
Effect of Dilutive Securities from continuing operations
Options and restricted stock				372						511						431
Convertible preferred stock(1)	88			34			141			55			58			26
Employees’ preferred stock(2)				47						48						50
Diluted EPS
Income available to common shareholders plus assumed conversions	$	110,939		24,037	$	4.62	$	82,932		23,848	$	3.48	$	54,408		23,716	$	2.29

(1) The amount of the dividend on the convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings per share for Series 1, 3 and 4 preferred stocks for Fiscal 2013 and 2012. Therefore, conversion of these convertible preferred stocks were included in diluted earnings per share for Fiscal 2013 and 2012. The amount of the dividend on Series 3 convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings for Fiscal 2011. Therefore, conversion of Series 3 preferred shares were included in diluted earnings per share for Fiscal 2011. The amount of the dividend on Series 1 and Series 4 convertible preferred stock per common share obtainable on conversion of the preferred stock was higher than basic earnings for Fiscal 2011. Therefore, conversion of Series 1 and Series 4 preferred shares were not reflected in diluted earnings per share for Fiscal 2011 because it would have been antidilutive. The shares convertible to common stock for Series 1, 3 and 4 preferred stock would have been 13,502 and 15,575 and 4,920, respectively, as of February 2, 2013.

(2) The Company’s Employees’ Subordinated Convertible Preferred Stock is convertible one for one to the Company’s common stock. Because there are no dividends paid on this stock, these shares are assumed to be converted.

All outstanding options to purchase shares of common stock at the end of Fiscal 2013 and 2012 were included in the computation of diluted earnings per share because the options’ exercise prices were less than the average market price of the common shares.

Options to purchase 12,000 shares of common stock at $32.65 per share, 71,428 shares of common stock at $36.40 per share, 1,945 shares of common stock at $40.05 per share, 103,474 shares of common stock at $38.14 per share, 951 shares of common stock at $37.41 per share and 2,351 shares of common stock at $42.82 per share were outstanding at the end of Fiscal 2011 but were not included in the computation of diluted earnings per share because the options’ exercise prices were greater than the average market price of the common shares.

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Notes to Consolidated Financial Statements

Note 11

Earnings Per Share, Continued

The weighted shares outstanding reflects the effect of stock buy back programs. The Company repurchased 645,904 shares at a cost of $37.7 million during Fiscal 2013. The Company has $58.2 million remaining under its current $75.0 million share repurchase authorization. The Company did not repurchase any shares during Fiscal 2012. The Company repurchased 863,767 shares at a cost of $24.8 million during Fiscal 2011.

Note 12

Share-Based Compensation Plans

The Company’s stock-based compensation plans, as of February 2, 2013, are described below. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification.

Stock Incentive Plans

The Company has two fixed stock incentive plans. Under the 2009 Amended and Restated Equity Incentive Plan (the “2009 Plan”), effective as of June 22, 2011, the Company may grant options, restricted shares, performance awards and other stock-based awards to its employees, consultants and directors for up to 2.5 million shares of common stock. Under the 2005 Equity Incentive Plan (the “2005 Plan”), effective as of June 23, 2005, the Company was permitted to grant options, restricted shares and other stock-based awards to its employees and consultants as well as directors for up to 2.5 million shares of common stock. There will be no future awards under the 2005 Equity Incentive Plan. Under both plans, the exercise price of each option equals the market price of the Company’s stock on the date of grant and an option’s maximum term is 10 years. Options granted under both plans vest 25% per year over four years.

For Fiscal 2013, 2012 and 2011, the Company recognized share-based compensation cost of $0.0, less than $1,000 and $0.2 million, respectively, for its fixed stock incentive plans included in selling and administrative expenses in the accompanying Consolidated Statements of Operations. The Company did not capitalize any share-based compensation cost.

The Compensation—Stock Compensation Topic of the Codification requires that the cash flows resulting from tax benefits for tax deductions in excess of the compensation cost recognized for those options (excess tax benefit) be classified as financing cash flows. Accordingly, the Company classified excess tax benefits of $4.8 million, $4.7 million and $1.4 million as financing cash inflows rather than as operating cash inflows on its Consolidated Statement of Cash Flows for Fiscal 2013, 2012 and 2011, respectively.

The Company did not grant any fixed stock options in Fiscal 2013, 2012 or 2011.

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Notes to Consolidated Financial Statements

Note 12

Share-Based Compensation Plans, Continued

A summary of fixed stock option activity and changes for Fiscal 2013, 2012 and 2011 is presented below:

	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)(1)
Outstanding, January 30, 2010	995,580		$	24.04
Granted	0		—
Exercised	(118,450	)	18.77
Forfeited	0		—
Outstanding, January 29, 2011	877,130		$	24.75
Granted	0		—
Exercised	(390,357	)	24.82
Forfeited	0		—
Outstanding, January 28, 2012	486,773		$	24.70
Granted	0		—
Exercised	(223,618	)	21.50
Forfeited	0		—
Outstanding, February 2, 2013	263,155		$	27.43	1.98	$	9,317
Exercisable, February 2, 2013	263,155		$	27.43	1.98	$	9,317

(1) Based upon the difference between the closing market price of the Company’s common stock on the last trading day of the year and the grant price of in-the-money options.

The total intrinsic value, which represents the difference between the underlying stock’s market price and the option’s exercise price, of options exercised during Fiscal 2013, 2012 and 2011 was $11.5 million, $10.3 million and $2.3 million, respectively.

As of February 2, 2013, the Company does not have any nonvested shares of its fixed stock incentive plans.

As of February 2, 2013 there was no unrecognized compensation costs related to nonvested share-based compensation arrangements granted under the stock incentive plans discussed above. Cash received from option exercises under all share-based payment arrangements for Fiscal 2013, 2012 and 2011 was $4.8 million, $9.7 million and $2.2 million, respectively.

Restricted Stock Incentive Plans

Director Restricted Stock

The 2009 Plan permits grants to non-employee directors on such terms as the board may approve.

Restricted stock awards were made to independent directors on the date of the annual meeting of shareholders in each of Fiscal 2013, 2012 and 2011. The shares granted in each award vested on the first anniversary of the grant date, subject to the director's continued service through that date. The board also approved a grant of 336 additional shares to a newly elected director on the annual meeting date in Fiscal 2013 on the same terms as the Fiscal 2013 grant to all outside directors. In all cases, the

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Notes to Consolidated Financial Statements

Note 12

Share-Based Compensation Plans, Continued

director is restricted from selling, transferring, pledging or assigning the shares for three years from the grant date unless he or she earlier leaves the board.

The Fiscal 2011 grants were valued at $60,000 based on the average closing price of the stock for the first five trading days of the month in which they were granted and vested in three equal annual installments beginning on the first anniversary of the grant date, subject to the director's continuing service. The Fiscal 2012 grants were valued at $70,000 and the Fiscal 2013 grants were valued at $80,000 on the same basis, and vested on the first anniversary of the grant date. For Fiscal 2013, 2012 and 2011, the Company issued 9,888 shares, 14,643 shares and 17,838 shares, respectively, of director restricted stock.

For Fiscal 2013, 2012 and 2011, the Company recognized $0.9 million, $0.8 million and $0.5 million, respectively, of director restricted stock related share-based compensation in selling and administrative expenses in the accompanying Consolidated Statements of Operations.

Employee Restricted Stock

Under the 2009 Plan, the Company issued 194,232 shares, 289,407 and 404,995 shares of employee restricted stock in Fiscal 2013, 2012 and 2011, respectively. Shares issued in Fiscal 2011, 2012 and 2013 vest 25% per year over four years, provided that on such date the grantee has remained continuously employed by the Company since the date of grant. The fair value of employee restricted stock is charged against income as compensation cost over the vesting period. Compensation cost recognized in selling and administrative expenses in the accompanying Consolidated Statements of Operations for these shares was $9.6 million, $6.9 million and $7.3 million for Fiscal 2013, 2012 and 2011, respectively.

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Notes to Consolidated Financial Statements

Note 12

Share-Based Compensation Plans, Continued

A summary of the status of the Company’s nonvested shares of its employee restricted stock as of February 2, 2013 is presented below:

Nonvested Restricted Shares	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at January 30, 2010	676,114		$	20.94
Granted	404,995		28.41
Vested	(179,684	)	23.09
Withheld for federal taxes	(81,731	)	23.15
Forfeited	(1,575	)	19.40
Nonvested at January 29, 2011	818,119		23.95
Granted	289,407		45.14
Vested	(227,691	)	22.58
Withheld for federal taxes	(93,089	)	22.42
Forfeited	(14,081	)	27.38
Nonvested at January 28, 2012	772,665		32.41
Granted	194,232		57.58
Vested	(195,203	)	29.95
Withheld for federal taxes	(75,552	)	29.97
Forfeited	(3,360	)	38.96
Nonvested at February 2, 2013	692,782		$	40.59

As of February 2, 2013 there was $21.7 million of total unrecognized compensation costs related to nonvested share-based compensation arrangements for restricted stock discussed above. That cost is expected to be recognized over a weighted average period of 2.27 years.

Employee Stock Purchase Plan

Under the Employee Stock Purchase Plan, the Company is authorized to issue up to 1.0 million shares of common stock to qualifying full-time employees whose total annual base salary is less than $90,000, effective October 1, 2002. Prior to October 1, 2002, the total annual base salary was limited to $100,000. Under the terms of the Plan, employees could choose each year to have up to 15% of their annual base earnings or $8,500, whichever is lower, withheld to purchase the Company’s common stock. The purchase price of the stock was 85% of the closing market price of the stock on either the exercise date or the grant date, whichever was less. The Company’s board of directors amended the Company’s Employee Stock Purchase Plan effective October 1, 2005 to provide that participants may acquire shares under the Plan at a 5% discount from fair market value on the last day of the Plan year. Employees can choose each year to have up to 15% of their annual base earnings or $9,500, whichever is lower, withheld to purchase the Company’s common stock. Under the Compensation – Stock Compensation Topic of the Codification, shares issued under the Plan as amended are non-compensatory. Under the Plan, the Company sold 2,463 shares, 2,717 shares and 4,230 shares to employees in Fiscal 2013, 2012 and 2011, respectively.

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Notes to Consolidated Financial Statements

Note 12

Share-Based Compensation Plans, Continued

Stock Purchase Plans

Stock purchase accounts arising out of sales to employees prior to 1972 under certain employee stock purchase plans amounted to $96,000 and $101,000 at February 2, 2013 and January 28, 2012, respectively, and were secured at February 2, 2013, by 5,245 employees’ preferred shares. Payments on stock purchase accounts under the stock purchase plans have been indefinitely deferred. No further sales under these plans are contemplated.

Note 13

Legal Proceedings

Environmental Matters

New York State Environmental Matters

In August 1997, the New York State Department of Environmental Conservation (“NYSDEC”) and the Company entered into a consent order whereby the Company assumed responsibility for conducting a remedial investigation and feasibility study (“RIFS”) and implementing an interim remedial measure (“IRM”) with regard to the site of a knitting mill operated by a former subsidiary of the Company from 1965 to 1969. The Company undertook the IRM and RIFS voluntarily, without admitting liability or accepting responsibility for any future remediation of the site. The Company has completed the IRM and the RIFS. In the course of preparing the RIFS, the Company identified remedial alternatives with estimated undiscounted costs ranging from $0.0 million to $24.0 million, excluding amounts previously expended or provided for by the Company. The United States Environmental Protection Agency (“EPA”), which has assumed primary regulatory responsibility for the site from NYSDEC, issued a Record of Decision in September 2007. The Record of Decision requires a remedy of a combination

of groundwater extraction and treatment and in-site chemical oxidation at an estimated present cost of approximately $10.7 million.

In July 2009, the Company agreed to a Consent Order with the EPA requiring the Company to perform certain remediation actions, operations, maintenance and monitoring at the site. In September 2009, a Consent Judgment embodying the Consent Order was filed in the U.S. District Court for the Eastern District of New York.

The Village of Garden City, New York, has additionally asserted that the Company is liable for the costs associated with enhanced treatment required by the impact of the groundwater plume from the site on two public water supply wells, including historical costs ranging from approximately $1.8 million to in excess of $2.5 million, and future operation and maintenance costs which the Village estimates at $126,400 annually while the enhanced treatment continues. On December 14, 2007, the Village filed a complaint against the Company and the owner of the property under the Resource Conservation and Recovery Act (“RCRA”), the Safe Drinking Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) as well as a number of state law theories in the U.S. District Court for the Eastern District of New York, seeking an injunction requiring the defendants to remediate contamination from the site and to establish their liability for

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Notes to Consolidated Financial Statements

Note 13

Legal Proceedings, Continued

future costs that may be incurred in connection with it, which the complaint alleges could exceed $41 million, undiscounted, over a 70-year period. The Company has not verified the estimates of either historic or future costs asserted by the Village, but believes that an estimate of future costs based on a

70-year remediation period is unreasonable given the expected remedial period reflected in the EPA's Record of Decision. On May 23, 2008, the Company filed a motion to dismiss the Village's complaint on grounds including applicable statutes of limitation and preemption of certain claims by the NYSDEC's and the EPA's diligent prosecution of remediation. On January 27, 2009, the Court granted the motion to dismiss all counts of the plaintiff's complaint except for the CERCLA claim and a state law claim for indemnity for costs incurred after November 27, 2000. On September 23, 2009, on a motion for reconsideration by the Village, the Court reinstated the claims for injunctive relief under RCRA and for equitable relief under certain of the state law theories. The Company intends to continue to defend the action.

Whitehall Environmental Matters

The Company has performed sampling and analysis of soil, sediments, surface water, groundwater and waste management areas at the Company's former Volunteer Leather Company facility in Whitehall, Michigan.

In October 2010, the Company and the Michigan Department of Natural Resources and Environment entered into a Consent Decree providing for implementation of a remedial Work Plan for the facility site designed to bring the site into compliance with applicable regulatory standards. The Work Plan's implementation is substantially complete and the Company expects, based on its present understanding of the condition of the site, that its future obligations with respect to the site will be limited to periodic monitoring and that future costs related to the site should not have a material effect on its financial condition or results of operations.

Accrual for Environmental Contingencies

Related to all outstanding environmental contingencies, the Company had accrued $11.9 million as of February 2, 2013, $13.0 million as of January 28, 2012 and $15.5 million as of January 29, 2011. All such provisions reflect the Company's estimates of the most likely cost (undiscounted, including both current and noncurrent portions) of resolving the contingencies, based on facts and circumstances as of the time they were made. There is no assurance that relevant facts and circumstances will not change, necessitating future changes to the provisions. Such contingent liabilities are included in the liability

arising from provision for discontinued operations on the accompanying Condensed Consolidated Balance Sheets because it relates to former facilities operated by the Company. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million reflected in Fiscal 2013, $1.8 million reflected in Fiscal 2012 and $2.9 million reflected in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations and represent changes in estimates.

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Notes to Consolidated Financial Statements

Note 13

Legal Proceedings, Continued

Other Matters

On December 10, 2010, the Company announced that it had suffered a criminal intrusion into the portion of its computer network that processes payments for transactions in certain of its retail stores. Visa, Inc., MasterCard Worldwide and American Express Travel Related Services Company, Inc. have asserted claims totaling approximately $15.6 million in connection with the intrusion and the claims of two of the claimants have been collected by withholding payment card receivables of the Company. In the fourth quarter of Fiscal 2013, the Company recorded a $15.4 million charge to earnings in connection with the disputed liability. On March 7, 2013, the Company filed an action in the U.S. District Court for the Middle District of Tennessee against Visa U.S.A. Inc., Visa Inc. and Visa International Service Association seeking to recover $13.3 million in non-compliance fines and issuer reimbursement assessments collected from the Company in connection with the intrusion. The Company does not currently expect any future claims in connection with the intrusion to have a material effect on its financial condition, cash flows, or results of operations.

On January 5, 2012, a patent infringement action against the Company and numerous other defendants was filed in the U.S. District Court for the Eastern District of Texas, GeoTag, Inc. v. Circle K Store, Inc., et al., alleging that features of certain of the Company's e-commerce websites infringe U.S. Patent No. 5,930,474, entitled “Internet Organizer for Accessing Geographically and Topically Based Information.” The plaintiff seeks relief including damages for the alleged infringement, costs, expenses and pre- and post-judgment interest and injunctive relief. The Company disputes the validity of the claim and is defending the matter.

On June 13, 2012, a former vendor of a subsidiary of the Company filed an action, Perfect Curve, Inc. v. Hat World, Inc., in U.S. District Court in Massachusetts, alleging patent, trademark, trade dress, and copyright infringement against the subsidiary based on the sale of a line of products developed by the subsidiary. The Company denies the material allegations against it and is defending the action.

On May 14, 2012, a putative class and collective action, Maro v. Hat World, Inc., was filed in the U.S. District Court for the Northern District of Illinois. The action alleges that the Company failed to pay

the plaintiff and other, similarly situated retail store employees of Hat World, Inc., for time spent making bank deposits of store collections, and seeks to recover unpaid wages, liquidated damages, statutory penalties, attorneys fees, and costs pursuant to the federal Fair Labor Standards Act, the Illinois Minimum Wage Law and the Illinois Wage Payment and Collection Act. On July 16, 2012 and July 30, 2012, additional putative class and collective actions, Chavez v. Hat World, Inc. and Dismukes v. Hat World, Inc., were filed in the same court, alleging that certain Hat World employees were misclassified as exempt from overtime pay, and seeking similar relief. The Chavez and Dismukes actions have been consolidated. The Company disputes the material allegations in the consolidated action and in Maro and is defending the actions.

On August 30, 2012, a former employee of a Company subsidiary filed a putative class and collective action, Kershner v. Hat World, Inc., in the Philadelphia, Pennsylvania Court of Common Pleas alleging violations of the Pennsylvania Minimum Wage Act by the subsidiary. The Company is defending the matter.

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Notes to Consolidated Financial Statements

Note 13

Legal Proceedings, Continued

In addition to the matters specifically described in this Note, the Company is a party to other legal and regulatory proceedings and claims arising in the ordinary course of its business. While management does not believe that the Company's liability with respect to any of these other matters is likely to have a material effect on its financial position, cash flows, or results of operations, legal proceedings are subject to inherent uncertainties and unfavorable rulings could have a material adverse impact on the Company's business and results of operations.

Note 14

Business Segment Information

During Fiscal 2013, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations; (ii) Schuh Group, acquired in June 2011, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised primarily of the Lids, Hat World and Hat Shack retail headwear stores, the Lids Locker Room and Lids Clubhouse fan shops (operated under various trade names), the Lids Team Sports business and certain e-commerce operations; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution; and (v) Licensed Brands, comprised of Dockers^® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip^® Footwear, occupational footwear primarily sold directly to consumers; and other footwear brands.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

The Company's reportable segments are based on management's organization of the segments in order to make operating decisions and assess performance along types of products sold. Journeys Group, Schuh Group and Lids Sports Group sell primarily branded products from other companies while Johnston & Murphy Group and Licensed Brands sell primarily the Company's owned and licensed

brands. As a result of combining the Underground Station Group with Journeys Group in the first quarter of Fiscal 2013, Journeys Group segment sales, operating income, total assets, depreciation and amortization and capital expenditures have been restated for Fiscal 2012 and 2011 to conform to the current year presentation.

Corporate assets include cash, domestic prepaid rent expense, prepaid income taxes, deferred income taxes, deferred note expense and corporate fixed assets. The Company charges allocated retail costs of distribution to each segment. The Company does not allocate certain costs to each segment in order

to make decisions and assess performance. These costs include corporate overhead, interest expense, interest income, asset impairment charges and other, including major litigation.

96

Genesco Inc.

and Subsidiaries

Notes to Consolidated Financial Statements

Note 14

Business Segment Information, Continued

Fiscal 2013
	Journeys Group			Schuh Group		Lids Sports Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	1,111,490		$	370,480	$	793,016		$	221,870		$	108,808		$	1,234		$	2,606,898
Intercompany sales	—		—	—		(1,761		)	(10		)	(310		)	—			(2,081		)
Net sales to external customers	$	1,111,490		$	370,480	$	791,255		$	221,860		$	108,498		$	1,234		$	2,604,817
Segment operating income (loss)	$	106,929		$	7,875	$	85,794		$	15,737		$	10,064		$	(41,392	)	$	185,007
Asset Impairments and other*	—			—		—			—			—			(17,037		)	(17,037		)
Earnings (loss) from operations	106,929			7,875		85,794			15,737			10,064			(58,429		)	167,970
Interest expense	—			—		—			—			—			(5,126		)	(5,126		)
Interest income	—			—		—			—			—			95			95
Earnings (loss) from continuing operations before income taxes	$	106,929		$	7,875	$	85,794		$	15,737		$	10,064		$	(63,460	)	$	162,939
Total assets**	$	280,396		$	231,323	$	519,006		$	89,505		$	43,212		$	170,347		$	1,333,789
Depreciation and amortization	20,190			10,040		26,892			3,738			366			2,471			63,697
Capital expenditures	21,852			16,873		21,448			6,680			1,255			3,629			71,737

 *Asset Impairments and other includes a $1.4 million charge for asset impairments, of which $0.9 million is in the Lids Sports Group,

$0.4 million is in the Journeys Group and $0.1 million is in the Johnston & Murphy Group, a $15.5 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

**Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $172.3 million, $100.7 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $13.2 million of additions in Fiscal 2013 resulting from small acquisitions and the Schuh Group goodwill increased by $0.8 million due to foreign currency translation adjustment.

97

Genesco Inc.

and Subsidiaries

Notes to Consolidated Financial Statements

Note 14

Business Segment Information, Continued

Fiscal 2012
	Journeys Group		Schuh Group		Lids Sports Group			Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	1,020,116	212,262		$	759,671		$	201,725	$	97,721		$	1,116		$	2,292,611
Intercompany sales	—		—		(347		)	—		(277		)	—			(624		)
Net sales to external customers	$	1,020,116	$	212,262	$	759,324		$	201,725	$	97,444		$	1,116		$	2,291,987
Segment operating income (loss)	$	82,452	$	11,711	$	82,349		$	13,682	$	9,456		$	(53,103	)	$	146,547
Asset Impairments and other*	—		—		—			—		—			(2,677		)	(2,677		)
Earnings (loss) from operations	82,452		11,711		82,349			13,682		9,456			(55,780		)	143,870
Interest expense	—		—		—			—		—			(5,157		)	(5,157		)
Interest income	—		—		—			—		—			65			65
Earnings (loss) from continuing operations before income taxes	$	82,452	$	11,711	$	82,349		$	13,682	$	9,456		$	(60,872	)	$	138,778
Total assets**	$	259,331	205,313		$	489,512		$	79,321	$	34,974		$	168,814		$	1,237,265
Depreciation and amortization	20,742		4,602		22,541			3,538		285			2,029			53,737
Capital expenditures	11,125		7,406		24,497			1,894		718			3,816			49,456

*Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

**Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $159.1 million, $99.9 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $6.5 million of additions in Fiscal 2012 resulting from small acquisitions and the Schuh Group goodwill is due to the acquisition of Schuh in the second quarter of Fiscal 2012 of $102.9 million which has been decreased by $3.0 million due to foreign currency translation adjustment.

98

Genesco Inc.

and Subsidiaries

Notes to Consolidated Financial Statements

Note 14

Business Segment Information, Continued

Fiscal 2011
	Journeys Group		Lids Sports Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	898,500	$	603,533		$	185,012		$	101,839		$	1,339		$	1,790,223
Intercompany sales	—		(188		)	(1		)	(195		)	—			(384		)
Net sales to external customers	$	898,500	$	603,345		$	185,011		$	101,644		$	1,339		$	1,789,839
Segment operating income (loss)	$	49,642	$	56,026		$	7,595		$	12,359		$	(30,972	)	$	94,650
Asset Impairments and other*	—		—			—			—			(8,567		)	(8,567		)
Earnings (loss) from operations	49,642		56,026			7,595			12,359			(39,539		)	86,083
Interest expense	—		—			—			—			(1,130		)	(1,130		)
Interest income	—		—			—			—			8			8
Earnings (loss) from continuing operations before income taxes	$	49,642	$	56,026		$	7,595		$	12,359		$	(40,661	)	$	84,961
Total assets**	$	268,335	$	435,016		$	72,393		$	38,152		$	147,186		$	961,082
Depreciation and amortization	23,005		18,627			3,754			217			2,135			47,738
Capital expenditures	7,754		17,908			1,687			27			1,923			29,299

*Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

**Total assets for the Lids Sports Group and Licensed Brands include $152.5 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group includes $33.5 million of additions in Fiscal 2011 resulting from small acquisitions and the Licensed Brands goodwill is due to the acquisition of Keuka Footwear in Fiscal 2011.

99

Note 15

Quarterly Financial Information (Unaudited)

(In thousands,	1st Quarter						2nd Quarter							3rd Quarter						4th Quarter						Fiscal Year
except per share amounts)	2013			2012			2013			2012				2013			2012			2013(a)			2012			2013(b)		2012
Net sales	$	600,144		$	481,502		$	543,522		$	470,591			$	664,458		$	616,525		$	796,693		$	723,369		$	2,604,817	$	2,291,987
Gross margin	306,664			246,786			273,022			235,771				334,348			310,457			384,313			354,692			1,298,347		1,147,706
Earnings from continuing operations before income taxes	34,890		(1)	25,011		(3)	15,748		(5)	570			(6)	51,077		(8)	44,043		(10)	61,224		(12)	69,154		(14)	162,939		138,778
Earnings from continuing operations	20,791			14,975			10,561			350				40,969			26,161			38,677			41,498			110,998		82,984
Net earnings (loss)	20,614		(2)	14,793		(4)	10,520			(392		)	(7)	40,875		(9)	26,088		(11)	38,527		(13)	41,470			110,536		81,959
Diluted earnings (loss) per common share:
Continuing operations	0.86			0.63			0.44			0.01				1.71			1.09			1.63			1.72			4.62		3.48
Net earnings (loss)	0.85			0.63			0.43			(0.02		)		1.70			1.09			1.62			1.72			4.60		3.43

(1) Includes a net asset impairment and other charge of $0.1 million (see Note 3). (a) 14 week period vs. 13

(2) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3). weeks in prior period.

(3) Includes a net asset impairment and other charge of $1.2 million (see Note 3). (b) 53 week period vs. 52

(4) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3). weeks in prior period.

(5) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(6) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(7) Includes a loss of $0.7 million, net of tax, from discontinued operations (see Note 3).

(8) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(9) Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

(10) Includes a net asset impairment and other charge of $0.3 million (see Note 3).

(11) Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

(12) Includes a net asset impairment and other charge of $16.1 million (see Note 3).

(13) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3).

(14) Includes a net asset impairment and other charge of $0.8 million (see Note 3).

100

ITEM 9, CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A, CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures.

We have established disclosure controls and procedures to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the officers who certify the Company’s financial reports and to other members of senior management and the Board of Directors.

Based on their evaluation as of February 2, 2013, the principal executive officer and principal financial officer of the Company have concluded that the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) were effective to ensure that the information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within time periods specified in SEC rules and forms and (ii) accumulated and communicated to the Company’s management, including the Company’s principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure.

Management’s report on internal control over financial reporting.

Management of the Company is responsible for establishing and maintaining effective internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934. The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

Management assessed the effectiveness of the Company’s internal control over financial reporting as of February 2, 2013. In making this assessment, management used the criteria set forth in Internal Control – Integrated Framework drafted by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this assessment, management believes that, as of February 2, 2013, the Company’s internal control over financial reporting is effective based on these criteria.

Ernst & Young LLP, the independent registered public accounting firm who also audited the Company’s Consolidated Financial Statements, has issued an attestation report on the Company’s internal control over financial reporting which is included herein.

Changes in internal control over financial reporting.

There were no changes in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.

ITEM 9B, OTHER INFORMATION

Not applicable.

101

PART III

ITEM 10, DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Certain information required by this item is incorporated herein by reference to the sections entitled “Election of Directors,” “Corporate Governance” and “Section 16(a) Beneficial Ownership Reporting Compliance” in the Company’s definitive proxy statement for its annual meeting of shareholders to be held June 26, 2013, to be filed with the Securities and Exchange Commission. Pursuant to General Instruction G(3), certain information concerning the executive officers of the Company appears under the caption “Executive Officers of the Registrant” in this report following Item 4 of Part I.

The Company has a code of ethics (the “Code of Ethics”) that applies to all of its directors, officers (including its chief executive officer, chief financial officer and chief accounting officer) and employees. The Company has made the Code of Ethics available and intends to post any legally required amendments to, or waivers of, such Code of Ethics on its website at http://www.genesco.com. Our website address is provided as an inactive textual reference only. The information provided on our website is not a part of this report, and therefore is not incorporated herein by reference.

ITEM 11, EXECUTIVE COMPENSATION

The information required by this item is incorporated herein by reference to the sections entitled “Director Compensation,” “Compensation Committee Report” and “Executive Compensation” in the Company’s definitive proxy statement for its annual meeting of shareholders to be held June 26, 2013, to be filed with the Securities and Exchange Commission.

ITEM 12, SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Certain information required by this item is incorporated herein by reference to the section entitled “Security Ownership of Officers, Directors and Principal Shareholders” in the Company’s definitive proxy statement for its annual meeting of shareholders to be held June 26, 2013, to be filed with the Securities and Exchange Commission.

The following table provides certain information as of February 2, 2013 with respect to our equity compensation plans:

EQUITY COMPENSATION PLAN INFORMATION*

	(a) Number of securities to be issued upon exercise of outstanding options, warrants and rights	(b) Weighted-average exercise price of outstanding options, warrants and rights		(c) Number of securities remaining available for future issuance under  equity compensation plans (excluding securities reflected in column (a)) (1)
Equity compensation plans approved by security holders	263,155	$	27.43	1,898,881
Equity compensation plans not approved by security holders	—	—		—
Total	263,155	$	27.43	1,898,881

(1) Such shares may be issued as restricted shares or other forms of stock-based compensation pursuant to our stock incentive plans.

* For additional information concerning our equity compensation plans, see the discussion in Note 1 in the Notes to Consolidated Financial Statements—Summary of Significant Accounting Policies – Share-Based Compensation and Note 12 Share-Based Compensation Plans.

ITEM 13, CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The information required by this item is incorporated herein by reference to the section entitled “Election of Directors” in the Company’s definitive proxy statement for its annual meeting of shareholders to be held June 26, 2013, to be filed with the Securities and Exchange Commission.

ITEM 14, PRINCIPAL ACCOUNTING FEES AND SERVICES

The information required by this item is incorporated herein by reference to the section entitled “Audit Matters” in the Company’s definitive proxy statement for its annual meeting of shareholders to be held June 26, 2013, to be filed with the Securities and Exchange Commission.

102

PART IV

ITEM 15, EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

Financial Statements

The following consolidated financial statements of Genesco Inc. and Subsidiaries (the "Company") are filed as part of this report under Item 8.

Report of Independent Registered Public Accounting Firm on Internal Control over Financial Reporting

Report of Independent Registered Public Accounting Firm on Financial Statements

Consolidated Balance Sheets, February 2, 2013 and January 28, 2012

Consolidated Statements of Operations, each of the three fiscal years ended 2013, 2012 and 2011

Consolidated Statements of Comprehensive Income, each of the three fiscal years ended 2013, 2012 and 2011

Consolidated Statements of Cash Flows, each of the three fiscal years ended 2013, 2012 and 2011

Consolidated Statements of Equity, each of the three fiscal years ended 2013, 2012 and 2011

Notes to Consolidated Financial Statements

Financial Statement Schedules

Schedule 2 — Valuation and Qualifying Accounts, each of the three fiscal years ended 2013, 2012 and 2011

All other schedules are omitted because the required information is either not applicable or is presented in the financial statements or related notes. These schedules begin on page 109.

Exhibits

(2)	a.	Agreement and Plan of Merger, dated as of February 5, 2004, by and among Genesco Inc., HWC Merger Sub, Inc. and Hat World Corporation. Incorporated by reference to Exhibit (2)a to the current report on Form 8-K filed April 9, 2004 (File No. 1—3083).
	b.	Stock Purchase Agreement, dated December 9, 2006, by and among Hat World, Inc., Hat Shack, Inc. and all the shareholders of Hat Shack, Inc. Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed December 12, 2006 (File No. 1-3083).
	c.	Sale and Purchase Agreement, dated as of June 23, 2011, by and among Genesco Inc., Schuh Group Limited, Genesco (UK) Limited and the persons listed on Schedule 1 thereto. (Pursuant to Item 601(b)(2) of Regulation S-K, the schedules and exhibits from this agreement are omitted, but will be provided supplementally to the Commission upon request.) Incorporated by reference to Exhibit 2.1 to the current report on Form 8-K filed June 28, 2011 (File No. 1-3083).
	d.	£25 million Loan Note Instrument of Genesco (UK) Limited dated June 23, 2011. Incorporated by reference to Exhibit 2.2 to the current report on Form 8-K filed June 28, 2011 (File No. 1-3083).
(3)	a.	Amended and Restated Bylaws of Genesco Inc. Incorporated by reference to Exhibit 3.1 to the current report on Form 8-K filed December 19, 2007 (File No. 1-3083).
	b.	Restated Charter of Genesco Inc., as amended. Incorporated by reference to Exhibit 1 to the Genesco Inc. Registration Statement on Form 8-A/A filed with the SEC on May 1, 2003 (File No.1-3083).
(4)	a.	Second Amended and Restated Rights Agreement dated as of April 18, 2010. Incorporated by reference to Exhibit 4.1 to the current report on Form 8-K filed April 9, 2010 (File No. 1-3083).
	b.	Form of Certificate for the Common Stock. Incorporated by reference to Exhibit 3 to the Genesco Inc. Registration Statement on Form 8-A/A filed with the SEC on May 1, 2003 (File No.1-3083).

103

(10)	a.	Second Amended and Restated Credit Agreement, dated as of January 21, 2011, by and among the Genesco Inc., certain subsidiaries of the Genesco Inc.party thereto, as other domestic borrowers and GCO Canada Inc., the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent. Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed January 26, 2011 (File No. 1-3083). First Amendment to Second Amended and Restated Credit Agreement, dated June 23, 2011, by and among Genesco Inc., certain subsidiaries of Genesco Inc. party thereto, as other domestic borrowers and GCO Canada Inc., the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent. Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed June 28, 2011 (File No. 1-3083).
	b.	Form of Split-Dollar Insurance Agreement with Executive Officers. Incorporated by reference to Exhibit (10)a to the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 1997 (File No.1-3083).
	c.	1996 Stock Incentive Plan Amended and Restated as of October 24, 2007. Form of Option Agreement. Incorporated by reference to Exhibit (10)c to the Company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2007 (File No.1-3083).
	d.	Genesco Inc. 2005 Equity Incentive Plan Amended and Restated as of October 24, 2007. Incorporated by reference to Exhibit (10)d to the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2008 (File No.1-3083).
	e.	Genesco Inc. 2009 Equity Incentive Plan. Incorporated by reference to Exhibit A to the Company’s definitive proxy statement dated May 15, 2009. Amended and Restated Genesco Inc. 2009 Equity Incentive Plan. Incorporated by reference to Exhibit A to the Company’s definitive proxy statement dated May 13, 2011.
	f.	Amended and Restated EVA Incentive Compensation Plan. Incorporated by reference to Exhibit (10)a to the Company’s Quarterly Report on Form 10-Q for the quarter ended April 30, 2011. Genesco Inc. Supplemental EVA Incentive Compensation Plan for the Period July 31, 2011 – January 28, 2012.
	g.	Amended and Restated EVA Incentive Compensation Plan. Incorporated by reference to Exhibit (10)a to the Company’s Quarterly Report on Form 10-Q for the quarter ended April 28, 2012.
	h.	Form of Incentive Stock Option Agreement. Incorporated by reference to Exhibit (10)c to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 29, 2005 (File No.1-3083).
	i.	Form of Non-Qualified Stock Option Agreement. Incorporated by reference to Exhibit (10)d to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 29, 2005 (File No.1-3083).
	j.	Form of Restricted Share Award Agreement for Executive Officers. Incorporated by reference to Exhibit (10)e to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 29, 2005 (File No.1-3083).
	k.	Form of Restricted Share Award Agreement for Officers and Employees. Incorporated by reference to Exhibit (10)f to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 29, 2005 (File No.1-3083).
	l.	Form of Restricted Share Award Agreement. Incorporated by reference to Exhibit (10)a to the Company’s Quarterly Report on Form 10-Q for the quarter ended August 1, 2009.
	m.	Form of Indemnification Agreement For Directors. Incorporated by reference to Exhibit (10)m to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 1993 (File No.1-3083).
	n.	Form of Non-Executive Director Indemnification Agreement. Incorporated by reference to Exhibit (10.1) to the current report on Form 8-K filed November 3, 2008 (File No. 1-3083).
	o.	Form of Officer Indemnification Agreement. Incorporated by reference to Exhibit (10.2) to the Company’s Quarterly Report on Form 10-Q for the quarter ended November 1, 2008 (File No.1-3083).
	p.	Supplemental Pension Agreement dated as of October 18, 1988 between the Company and William S. Wire II, as amended January 9, 1993. Incorporated by reference to Exhibit (10)p to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 1993 (File No.1-3083).
	q.	Deferred Compensation Trust Agreement dated as of February 27, 1991 between the Company and NationsBank of Tennessee for the benefit of William S. Wire, II, as amended January 9, 1993. Incorporated by reference to Exhibit (10)q to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 1993 (File No.1-3083).

104

	r.	Form of Employment Protection Agreement between the Company and certain executive officers dated as of February 26, 1997. Incorporated by reference to Exhibit (10)p to the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 1997 (File No.1-3083).
	s.	First Amendment to Form of Employment Protection Agreement. Incorporated by reference to Exhibit (10)s to the Company’s Annual Report on Form 10-K for the fiscal year ended January 30, 2010.
	t.	Employment Agreement dated as of March 29, 2010 between the Company and Hal N. Pennington. Incorporated by reference to Exhibit (10)t to the Company’s Annual Report on Form 10-K for the fiscal year ended January 30, 2010.
	u.	Trademark License Agreement, dated August 9, 2000, between Levi Strauss & Co. and Genesco Inc. Incorporated by reference to Exhibit (10.1) to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 30, 2004 (File No.1-3083).*
	v.	Amendment No. 1 (Renewal) to Trademark License Agreement, dated October 18, 2004, between Levi Strauss & Co. and Genesco Inc. Incorporated by reference to Exhibit (10.2) to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 30, 2004 (File No.1-3083).*
	w.	Amendment No. 2 (Renewal) to Trademark License Agreement, dated November 1, 2006, between Levi Strauss & Co. and Genesco. Inc. Incorporated by reference to Exhibit (10.1) to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 28, 2006 (File No.1-3083).*
	x.	Amendment No. 4 (Renewal) to Trademark License Agreement, dated May 15, 2009, between Levi Strauss & Co. and Genesco Inc. Incorporated by reference to Exhibit (10)b to the Company’s Quarterly Report on Form 10-Q for the quarter ended August 1, 2009.*
	y.	Amendment No. 5 (Renewal) to Trademark License Agreement, dated July 23, 2012, between Levi Strauss & Co. and Genesco Inc. Incorporated by reference to Exhibit (10.1) to the Company’s Current Report on Form 8-K filed July 25, 2012 (File No. 1-3083).*
	z.	Genesco Inc. Deferred Income Plan dated as of July 1, 2000. Incorporated by reference to Exhibit (10)p to the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2005. Amended and Restated Deferred Income Plan dated August 22, 2007. Incorporated by reference to Exhibit (10)r to the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2008 (File No.1-3083).
	aa.	Non-Employee Director and Named Executive Officer Compensation. Incorporated by reference to Exhibit (10)b to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 29, 2005 (File No.1-3083).
	bb.	The Schuh Group Limited 2015 Management Bonus Scheme. Incorporated by reference to Exhibit (10)a to the Company’s Quarterly Report on Form 10-Q for the quarter ended July 30, 2011.
	cc.	1996 Employee Stock Purchase Plan. Incorporated by reference to Registration Statement on Form S-8 filed September 14, 1995 (File No. 333-62653).
	dd.	Amended and Restated Genesco Employee Stock Purchase Plan dated August 22, 2007. Incorporated by reference to Exhibit (10)u to the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2008 (File No.1-3083).
	ee.	Basic Form of Exchange Agreement (Restricted Stock). Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed April 29, 2009 (File No. 1-3083).
	ff.	Basic Form of Exchange Agreement (Unrestricted Stock). Incorporated by reference to Exhibit 10.2 to the current report on Form 8-K filed April 29, 2009 (File No. 1-3083).
	gg.	Form of Conversion Agreement. Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed November 2, 2009 (File No. 1-3083).
	hh.	Form of Conversion Agreement. Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed November 6, 2009 (File No. 1-3083).
	ii.	Settlement Agreement, dated as of March 3, 2008, by and among UBS Securities LLC and UBS Loan Finance LLC, The Finish Line, Inc. and Headwind, Inc. and Genesco Inc. Incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed March 4, 2008 (File No. 1-3083).
(21)		Subsidiaries of the Company.
(23)		Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm included on page 107.
(24)		Power of Attorney

105

(31.1)	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
(31.2)	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
(32.1)	Certification of the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(32.2)	Certification of the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(99)	Financial Statements and Report of Independent Registered Public Accounting Firm with respect to the Genesco Employee Stock Purchase Plan being filed herein in lieu of filing Form 11-K pursuant to Rule 15d-21.
101.INS	XBRL Instance Document
101.SCH	XBRL Schema Document
101.CAL	XBRL Calculation Linkbase Document
101.DEF	XBRL Definition Linkbase Document
101.LAB	XBRL Label Linkbase Document
101.PRE	XBRL Presentation Linkbase Document

Exhibits (10)b through (10)l, (10)r through (10)t and (10)z through (10)dd are Management Contracts or Compensatory Plans or Arrangements required to be filed as Exhibits to this Form 10-K.

* Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portion.

A copy of any of the above described exhibits will be furnished to the shareholders upon written request, addressed to Director, Corporate Relations, Genesco Inc., Genesco Park, Room 498, P.O. Box 731, Nashville, Tennessee 37202-0731, accompanied by a check in the amount of $15.00 payable to Genesco Inc.

106

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statements on Form S-8 (Registration Nos. 333-62653, 333-08463, 333-104908, 333-128201, 333-160339 and 333-180463) and in the Registration Statement on Form S-3 (Registration No. 333-109019) of Genesco Inc. of our reports dated April 3, 2013, with respect to the consolidated financial statements and schedule of Genesco Inc. and Subsidiaries, and the effectiveness of internal control over financial reporting of Genesco Inc. and Subsidiaries, included in this Annual Report (Form 10-K) for the year ended February 2, 2013.

We also consent to the incorporation by reference in the Registration Statement on Form S-8 (Registration No. 333-62653) pertaining to the 1996 Employee Stock Purchase Plan of Genesco Inc. of our report dated April 3, 2013 with respect to the financial statements of the Genesco Inc. Employee Stock Purchase Plan, included as an exhibit to this Annual Report (Form 10-K) for the year ended February 2, 2013.

	/s/ Ernst & Young LLP
Nashville, Tennessee
April 3, 2013

107

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

GENESCO INC.
By:	/s/James S. Gulmi
	James S. Gulmi
	Senior Vice President – Finance and
	Chief Financial Officer

Date: April 3, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on the 3rd day of April, 2013.

/s/Robert J. Dennis	Chairman, President, Chief Executive Officer
Robert J. Dennis	and a Director
/s/James S. Gulmi	Senior Vice President – Finance and
James S. Gulmi	Chief Financial Officer
	(Principal Financial Officer)
/s/Paul D. Williams	Vice President and Chief Accounting Officer
Paul D. Williams
Directors:
James S. Beard*	Matthew C. Diamond *
Leonard L. Berry *	Marty G. Dickens *
William F. Blaufuss, Jr.*	Thurgood Marshall, Jr. *
James W. Bradford*	Kathleen Mason *

*By	/s/Roger G. Sisson
	Roger G. Sisson
	Attorney-In-Fact

108

Genesco Inc.

and Subsidiaries

Financial Statement Schedule

February 2, 2013

109

Schedule 2

Genesco Inc.

and Subsidiaries

Valuation and Qualifying Accounts

Year Ended February 2, 2013

In Thousands	Beginning Balance		Charged to Profit and Loss		Increases (Decreases)			Ending Balance
Reserves deducted from assets in the balance sheet:
Accounts Receivable Allowances	$	6,900	$	1,325	$	(2,143	)	$	6,082

Year Ended January 28, 2012

In Thousands	Beginning Balance		Charged to Profit and Loss		Increases (Decreases)		Ending Balance
Reserves deducted from assets in the balance sheet:
Accounts Receivable Allowances	$	3,301	$	2,004	$	1,595	$	6,900

Year Ended January 29, 2011

In Thousands	Beginning Balance		Charged to Profit and Loss		Increases (Decreases)			Ending Balance
Reserves deducted from assets in the balance sheet:
Accounts Receivable Allowances	$	3,232	$	1,081	$	(1,012	)	$	3,301

110

EX-21

Exhibit (21)

SUBSIDIARIES OF THE REGISTRANT

Subsidiaries of the Company:    

Place of

Names of Subsidiary⁽¹⁾    Incorporation

Flagg Bros. of Puerto Rico, Inc.    Delaware

Genesco Brands, LLC    Delaware

GVI, Inc.    Delaware

Hat World Corporation    Delaware

GCO Canada Inc.    Canada

Hat World, Inc.    Minnesota

Hat World Services Co., Inc.    Delaware

Keuka Footwear, Inc.    Delaware

SIOPA Sports of America, LLC (50% owned)    Delaware

Genesco (UK) Limited    United Kingdom

Lids Retail Limited    United Kingdom

Schuh Group Limited    United Kingdom

Schuh (Holdings) Limited    United Kingdom

Schuh Limited    United Kingdom

Schuh (ROI) Limited    Republic of Ireland

Genesco GP, LLC    United Kingdom

Genesco Scot LP    United Kingdom

Genesco (Jersey) Limited    New Jersey

(1)    Except as otherwise indicated, 100% of the equity of each listed subsidiary is owned either by the registrant or by a wholly-owned subsidiary of the registrant.

EX-24

Exhibit (24)

POWER OF ATTORNEY

The undersigned, certain of the officers and directors of Genesco Inc., a Tennessee corporation (“Genesco”), do hereby constitute and appoint Roger G. Sisson and James S. Gulmi, and any one of them, to act severally as attorneys-in-fact for and in their respective names, places and steads, with full power of substitution, to execute, sign and file with the Securities and Exchange Commission the Annual Report on Form 10-K of Genesco for the fiscal year ended February 2, 2013, and any and all amendments thereto; granting to said attorneys-in-fact, and each of them, full power and authority to do and perform every act and thing whatsoever requisite or necessary to be done in and about the premises as fully to all intents and purposes as the undersigned or any of them might or could do if personally present, and the undersigned do hereby ratify and confirm all that said attorney-in-fact or any of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Executed this 28th day of February, 2013

/s/ Robert J. Dennis    /s/ James S. Gulmi    

Robert J. Dennis, Chairman, President and        James S. Gulmi, Senior Vice President-Finance

Chief Executive Officer and a Director        (Principal Financial Officer)

/s/ James S. Beard    /s/ Matthew C. Diamond    

James S. Beard, Director        Matthew C. Diamond, Director

/s/ Leonard L. Berry    /s/ Marty G. Dickens    

Leonard L. Berry, Director        Marty G. Dickens, Director

/s/ William F. Blaufuss, Jr.    /s/ Thurgood Marshall, Jr.    

William F. Blaufuss, Jr., Director        Thurgood Marshall, Jr., Director

/s/ James W. Bradford    /s/ Kathleen Mason    

James W. Bradford, Director        Kathleen Mason, Director

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Robert J. Dennis, certify that:

1. I have reviewed this annual report on Form 10-K of Genesco Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 3, 2013

/s/ Robert J. Dennis

Robert J. Dennis

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, James S. Gulmi, certify that:

1. I have reviewed this annual report on Form 10-K of Genesco Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 3, 2013

/s/ James S. Gulmi

James S. Gulmi

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Genesco Inc. (the “Company”) on Form 10-K for the period ending February 2, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Robert J. Dennis, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Robert J. Dennis

Robert J. Dennis

Chief Executive Officer

April 3, 2013

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Genesco Inc. (the “Company”) on Form 10-K for the period ending February 2, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James S. Gulmi, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ James S. Gulmi

James S. Gulmi

Chief Financial Officer

April 3, 2013

EX-99

Exhibit (99)

AUDITED FINANCIAL STATEMENTS

Genesco Employee Stock Purchase Plan

As of February 2, 2013 and January 28, 2012 and for Each of the Three Fiscal

Years in the Period Ended February 2, 2013 with

Report of Independent Registered Public Accounting Firm

Genesco Employee Stock Purchase Plan

Audited Financial Statements

As of February 2, 2013 and January 28, 2012 and for Each of the Three Fiscal

Years in the Period Ended February 2, 2013

Contents

Report of Independent Registered Public Accounting Firm	1
Audited Financial Statements:
Statements of Financial Condition	2
Statements of Changes in Plan Equity	3
Notes to Financial Statements	4

Report of Independent Registered Public Accounting Firm

To the Participants and Administrator

of the Genesco Employee Stock Purchase Plan

We have audited the accompanying statements of financial condition of the Genesco Employee Stock Purchase Plan as of February 2, 2013 and January 28, 2012 and the related statements of changes in plan equity for each of the three fiscal years in the period ended February 2, 2013. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial condition of the Genesco Employee Stock Purchase Plan at February 2, 2013 and January 28, 2012, and the changes in plan equity foreach of the three fiscal years in the period ended February 2, 2013, in conformity with U. S. generally accepted accounting principles.

/s/ Ernst & Young LLP

Nashville, Tennessee

April 3, 2013

Genesco Employee Stock Purchase Plan

Statements of Financial Condition

Assets	February 2, 2013		January 28, 2012
Due from Genesco Inc.	$	87,427	$	71,385
Total Assets	$	87,427	$	71,385
Liabilities and Plan Equity
Plan equity	$	87,427	$	71,385
Total Liabilities and Plan Equity	$	87,427	$	71,385

See accompanying notes.

Genesco Employee Stock Purchase Plan

Statements of Changes in Plan Equity

	For the Fiscal Year Ended
	February 2, 2013			January 28, 2012			January 29, 2011
Employee contributions	$	210,090		$	175,363		$	153,424
Options exercised	(157,242		)	(132,997		)	(120,073		)
Distributions to withdrawn participants	(36,806		)	(32,128		)	(28,852		)
Net increase in plan equity	16,042			10,238			4,499
Plan equity at beginning of year	71,385			61,147			56,648
Plan Equity at End of Year	$	87,427		$	71,385		$	61,147

See accompanying notes.

Genesco Employee Stock Purchase Plan

Notes to Financial Statements

Note 1

Summary of Significant Accounting Policies

Basis of Accounting

The records of the Genesco Employee Stock Purchase Plan (the "Plan") are prepared on the accrual basis of accounting.

Administrative Expenses

All expenses incurred in administration of the Plan are paid by Genesco Inc. (the "Company") and are excluded from these financial statements.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires Plan management to make estimates that affect the reported amounts of Plan assets and liabilities and disclosure of any contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in Plan equity during the period. Actual results could differ from those estimates and the differences could be material.

Note 2

The Plan    

Background and Summary

The following description of the Plan provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions.

The Plan became effective October 1, 1995 to advance the interests of the Company and its shareholders by attracting and retaining qualified employees and by encouraging them to identify with shareholder interests through the acquisition of shares of the Company’s common stock.

Eligibility

Each employee who is not a highly compensated employee as described in Section 414(a) of the Internal Revenue Code of 1986 (“the Code”), and whose customary employment is greater than 20 hours per week and greater than five months per year is eligible to participate in the Plan if the employee has been employed by the Company for at least six months prior to the grant date. The Plan excludes statutory insiders and five percent shareholders.

Genesco Employee Stock Purchase Plan

Notes to Financial Statements (Continued)

Note 2

The Plan, Continued    

Contributions

Contributions to the Plan are solely from participating employees of the Company who, through after-tax payroll deductions, may use their contributions to purchase common stock of the Company at the end of a one-year option period. The maximum number of shares available to any participant is the lesser of 2,000 a year or that number of shares equal to $10,000 divided by the closing market price of the common stock on the grant date or the exercise date. The maximum contribution is the lesser of $9,500 a year or 15% of the participant’s base pay as of October 1. The minimum contribution is $250 per participant per year. Shares will be purchased September 30 of the year following the October 1 grant date. The initial estimated grants were determined on October 1, 1995.

The participant will purchase shares of the Company’s common stock at 95% of the market price on the exercise date. Options are to be granted each year, unless the Board of Directors of the Company, at its discretion, determines in advance that no options are to be granted. The cumulative number of shares which may be purchased under the Plan is 1,000,000. The options granted and rights thereto may not be sold, assigned, pledged or otherwise transferred.

Participant Accounts

Periodically throughout the year, each participant is provided with statements reflecting the value of his or her account. Participant contributions are held by the Company, which has an unsecured obligation to the Plan.

At the exercise date, the Company issues stock that is transferred to a brokerage firm and distributed according to the number of options exercised by each participant.

Vesting

Participants are 100% vested in the value of their account and may withdraw from the Plan at any time except during the period September 15 through September 30, which is the time that preparations are made for the issuance of the stock each year.

If a participant is terminated for any reason other than retirement, disability or death, the participant's involvement in the Plan and any unexercised options automatically terminate, and the participant will receive the account balance in cash.

Termination of the Plan

The Company reserves the right to terminate the Plan at any time. In the event of Plan termination, the balance of each participant's account shall be paid in cash as soon as is reasonably practical.

Plan Administrator

The Plan is to be administered by the compensation committee of the Company’s Board of Directors or another designee of the Board of Directors.

Genesco Employee Stock Purchase Plan

Notes to Financial Statements (Continued)

Note 2

The Plan, Continued    

Income Tax Status

The Plan is intended to qualify as an employee stock purchase plan within the meaning of Section 423 of the Code, as amended. Issuance of shares under this Plan are not intended to result in taxable income to participants in the Plan based on provisions of the Code. Accordingly, no income will result for federal income tax purposes when an option is granted or exercised; however, income may result upon disposition of the stock. Management believes that the Plan is operating in compliance with the Code and, therefore, no provision for income taxes has been reflected in the accompanying financial statements

Accounting principles generally accepted in the United States require plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of February 2, 2013, there are no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2010.

Note 3

Options to Purchase Company Stock    

At the beginning of each option period, the Company estimates the number of options to be granted based on participant contributions and the current stock price. At the end of the option period, the Company grants options to each Plan participant. In the event Plan contributions, withdrawals or the stock price are different than originally estimated, additional or fewer options may be granted at the end of the option period (exercise date).    

			Option Period
Options to Purchase Common Stock	Total		10/01/12 to 09/30/13		10/01/11 to 09/30/12		10/01/10 to 09/30/11
Estimated options to be granted, January 29, 2011	4,664		0		0		4,664
Estimated options to be granted - October 1, 2011	3,655		0		3,655		0
Adjustment to estimated options to be granted	(943	)	0		0		(943	)
Options exercised	(2,717	)	0		0		(2,717	)
Options withdrawn	(1,054	)	0		(50	)	(1,004	)
Estimated options to be granted, January 28, 2012	3,605		0		3,605		0
Estimated options to be granted - October 1, 2012	3,972		3,972		0		0
Adjustment to estimated options to be granted	(318	)	0		(318	)	0
Options exercised	(2,463	)	0		(2,463	)	0
Options withdrawn	(901	)	(77	)	(824	)	0
Estimated options to be granted, February 2, 2013	3,895		3,895		0		0

The cumulative options exercised as of February 2, 2013, are 686,562.

Genesco Employee Stock Purchase Plan

Notes to Financial Statements (Continued)

Note 3

Options to Purchase Company Stock, Continued    

	Option Period
	10/01/12 to 09/30/13	10/01/11 to 09/30/12	10/01/10 to 09/30/11
Enrollment date	10/01/12	10/01/11	10/01/10
Exercise date	09/30/13	09/30/12	09/30/11
95% of fair market value of stock at date of exercise	NA	$63.39	$48.95

The table below includes a rollforward of participants based on actual exercises and withdrawals for the option period.

			Option Period
Number of Participants	Total		10/01/12 to 09/30/13		10/01/11 to 09/30/12		10/01/10 to 09/30/11
Active, January 29, 2011	171		0		0		171
Enrollment - October 1, 2011	225		0		225		0
Exercised options	(140	)	0		0		(140	)
Withdrawn	(33	)	0		(2	)	(31	)
Active, January 28, 2012	223		0		223		0
Enrollment - October 1, 2012	280		280		0		0
Exercised options	(172	)	0		(172	)	0
Withdrawn	(56	)	(5	)	(51	)	0
Active, February 2, 2013	275		275		0		0

XML

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Feb. 02, 2013

Quarterly Financial Information Disclosure [Abstract]

Details of quarterly financial information

(In thousands,	1st Quarter						2nd Quarter							3rd Quarter						4th Quarter						Fiscal Year
except per share amounts)	2013			2012			2013			2012				2013			2012			2013(a)			2012			2013(b)		2012
Net sales	$	600,144		$	481,502		$	543,522		$	470,591			$	664,458		$	616,525		$	796,693		$	723,369		$	2,604,817	$	2,291,987
Gross margin	306,664			246,786			273,022			235,771				334,348			310,457			384,313			354,692			1,298,347		1,147,706
Earnings from continuing operations before income taxes	34,890		(1)	25,011		(3)	15,748		(5)	570			(6)	51,077		(8)	44,043		(10)	61,224		(12)	69,154		(14)	162,939		138,778
Earnings from continuing operations	20,791			14,975			10,561			350				40,969			26,161			38,677			41,498			110,998		82,984
Net earnings (loss)	20,614		(2)	14,793		(4)	10,520			(392		)	(7)	40,875		(9)	26,088		(11)	38,527		(13)	41,470			110,536		81,959
Diluted earnings (loss) per common share:
Continuing operations	0.86			0.63			0.44			0.01				1.71			1.09			1.63			1.72			4.62		3.48
Net earnings (loss)	0.85			0.63			0.43			(0.02		)		1.70			1.09			1.62			1.72			4.60		3.43

(1) Includes a net asset impairment and other charge of $0.1 million (see Note 3). (a) 14 week period vs. 13

(2) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3). weeks in prior period.

(3) Includes a net asset impairment and other charge of $1.2 million (see Note 3). (b) 53 week period vs. 52

(4) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3). weeks in prior period.

(5) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(6) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(7) Includes a loss of $0.7 million, net of tax, from discontinued operations (see Note 3).

(8) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(9) Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

(10) Includes a net asset impairment and other charge of $0.3 million (see Note 3).

(11) Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

(12) Includes a net asset impairment and other charge of $16.1 million (see Note 3).

(13) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3).

(14) Includes a net asset impairment and other charge of $0.8 million (see Note 3).

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Fair Value (Details Textual) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Fair Value (Textual) [Abstract]
Impairment of long-lived assets	$ 1,396	$ 1,119	$ 7,155

XML

Acquisitions and Intangible Assets (Details 2) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013		Jan. 28, 2012
Other intangibles by major classes
Gross other intangibles	$ 28,818		$ 28,453
Accumulated amortization	(17,220)		(13,645)
Net Other Intangibles	11,598		14,808
Leases [Member]
Other intangibles by major classes
Gross other intangibles	12,584		12,390
Accumulated amortization	(10,800)		(9,477)
Net Other Intangibles	1,784		2,913
Customer Lists [Member]
Other intangibles by major classes
Gross other intangibles	14,116		14,062
Accumulated amortization	(5,312)		(3,292)
Net Other Intangibles	8,804		10,770
Other Intangible Assets [Member]
Other intangibles by major classes
Gross other intangibles	2,118	[1]	2,001	[1]
Accumulated amortization	(1,108)	[1]	(876)	[1]
Net Other Intangibles	$ 1,010	[1]	$ 1,125	[1]

[1] Includes non-compete agreements, vendor contract and backlog.

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 1) (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	$ 0	$ 0
Current liabilities	(160)	(160)
Noncurrent liabilities	(4,327)	(3,748)
Net Amount Recognized	(4,487)	(3,908)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	0	0
Current liabilities	0	0
Noncurrent liabilities	(20,514)	(22,201)
Net Amount Recognized	$ (20,514)	$ (22,201)

XML

Long-Term Debt (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Long-Term Debt
Total long-term debt	$ 50,682	$ 40,704
Current portion	5,675	8,773
Total Noncurrent Portion of Long-Term Debt	45,007	31,931
Revolver Borrowings [Member]
Long-Term Debt
Total long-term debt	27,700	5,000
UK Term Loans [Member]
Long-Term Debt
Total long-term debt	$ 22,982	$ 35,704

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 9) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract]
Aggregated service and interest cost, 1% increase in rates	$ 153
Aggregated service and interest cost, 1% decrease in rates	70
Accumulated postretirement benefit obligation, 1% increase in rates	735
Accumulated postretirement benefit obligation, 1% decrease in rates	$ 578

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Acquisitions and Intangible Assets (Details) (Schuh [Member]) In Thousands, unless otherwise specified	Jun. 23, 2011 USD ($)	Jun. 23, 2011 GBP (£)
Estimated fair values of assets and liabilities at acquisition
Cash	$ 24,836	£ 6,200
Accounts receivable	4,673
Inventories	32,179
Other current assets	7,565
Property and equipment	30,314
Other non-current assets	6,977
Deferred taxes	4,197
Trademarks	27,224
Other intangibles	4,995
Goodwill	102,907
Accounts payable	(16,196)
Other current liabilities	(24,718)
Long-term debt (includes current portion)	(62,562)
Other non-current liabilities	(26,637)
Net Assets Acquired	$ 115,754

XML

Equity (Tables)

12 Months Ended

Feb. 02, 2013

Equity [Abstract]

Non redeemable preferred stock

	Shares Authorized		Number of Shares			Amounts in Thousands									Common Convertible Ratio		No. of Votes per share
Class (In order of preference)*			2013	2012	2011	2013			2012			2011
Subordinated Serial Preferred (Cumulative)
Aggregate	3,000,000	**	0	0	0	—			—			—			N/A		N/A
$2.30 Series 1	64,368		16,203	30,368	33,497	$	648		$	1,215		$	1,340		.83		1
$4.75 Series 3	40,449		7,398	11,643	12,163	740			1,164			1,216			2.11		2
$4.75 Series 4	53,764		3,247	3,397	3,579	325			340			358			1.52		1
Series 6	800,000		0	0	0	0			0			0					100
$1.50 Subordinated Cumulative Preferred	5,000,000		30,067	30,067	30,067	902			902			902					1
			56,915	75,475	79,306	2,615			3,621			3,816
Employees’ Subordinated Convertible Preferred	5,000,000		46,852	47,922	49,192	1,405			1,437			1,476			1.00	***	1
Stated Value of Issued Shares						4,020			5,058			5,292
Employees’ Preferred Stock Purchase Accounts						(96		)	(101		)	(109		)
Total Non-Redeemable Preferred Stock						$	3,924		$	4,957		$	5,183

*    In order of preference for liquidation and dividends.

** The Company’s charter permits the board of directors to issue Subordinated Serial Preferred Stock in as many series, each with as many shares and such rights and preferences as the board may designate.

***    Also convertible into one share of $1.50 Subordinated Cumulative Preferred Stock.

Preferred stock transactions

Preferred Stock Transactions

In thousands	Non-Redeemable Preferred Stock			Non-Redeemable Employees’ Preferred Stock			Employees’ Preferred Stock Purchase Accounts			Total Non-Redeemable Preferred Stock
Balance January 30, 2010	$	3,833		$	1,510		$	(123	)	$	5,220
Other	(17		)	(34		)	14			(37		)
Balance January 29, 2011	3,816			1,476			(109		)	5,183
Other	(195		)	(39		)	8			(226		)
Balance January 28, 2012	3,621			1,437			(101		)	4,957
Other	(1,006		)	(32		)	5			(1,033		)
Balance February 2, 2013	$	2,615		$	1,405		$	(96	)	$	3,924

Changes in shares of company's capital stock

Changes in the Shares of the Company’s Capital Stock

	Common Stock		Non- Redeemable Preferred Stock		Employees’ Preferred Stock
Issued at January 30, 2010	24,562,693		79,469		50,350
Exercise of options	118,450		0		0
Issue restricted stock	422,833		0		0
Issue shares—Employee Stock Purchase Plan	4,230		0		0
Shares repurchased	(863,767	)	0		0
Other	(81,805	)	(163	)	(1,158	)
Issued at January 29, 2011	24,162,634		79,306		49,192
Exercise of options	390,357		0		0
Issue restricted stock	304,050		0		0
Issue shares—Employee Stock Purchase Plan	2,717		0		0
Other	(101,932	)	(3,831	)	(1,270	)
Issued at January 28, 2012	24,757,826		75,475		47,922
Exercise of options	223,618		0		0
Issue restricted stock	204,456		0		0
Issue shares—Employee Stock Purchase Plan	2,463		0		0
Shares repurchased	(645,904	)	0		0
Other	(57,544	)	(18,560	)	(1,070	)
Issued at February 2, 2013	24,484,915		56,915		46,852
Less shares repurchased and held in treasury	488,464		0		0
Outstanding at February 2, 2013	23,996,451		56,915		46,852

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 10) (Details)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	100.00%	100.00%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	66.00%	63.00%
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	34.00%	37.00%
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation	0.00%	0.00%

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 4) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 350	$ 250	$ 250
Interest cost	4,961	5,597	5,897
Expected return on plan assets	(7,003)	(7,807)	(8,089)
Prior service cost	4	4	4
Losses	6,032	4,728	4,235
Net amortization	6,036	4,732	4,239
Net Periodic Benefit Cost	4,344	2,772	2,297
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	356	166	144
Interest cost	157	174	170
Expected return on plan assets	0	0	0
Prior service cost	0	0	0
Losses	84	79	59
Net amortization	84	79	59
Net Periodic Benefit Cost	$ 597	$ 419	$ 373

XML

Legal Proceedings (Details) (USD $)	12 Months Ended
	Feb. 02, 2013 Well Claimant	Jan. 28, 2012	Jan. 29, 2011	Feb. 02, 2008	Dec. 14, 2007
Legal Proceedings (Textual) [Abstract]
Minimum estimated undiscounted costs of preparing RIFS for remedial alternatives	$ 0
Maximum estimated undiscounted costs of preparing RIFS for remedial alternatives	24,000,000
Present worth for remedy of a combination of groundwater extraction and treatment and in-site chemical oxidation	10,700,000
Public Water Supply Wells	2
Minimum historical cost associated with enhanced treatment required by the impact of groundwater plume	1,800,000
Maximum historical cost associated with enhanced treatment required by the impact of groundwater plume	2,500,000
Future operation and maintenance costs	126,400
Minimum amount of complaint under number of state law theories					41,000,000
Period of complaint under number of state law theories				70 years
Number of claimants	2
Amount related to outstanding environmental contingencies	11,900,000	13,000,000	15,500,000
Pretax accruals for environmental contingencies included in provision for discontinued operations	$ 800,000	$ 1,800,000	$ 2,900,000

XML

Commitments Under Long-Term Leases (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Rental expense under operating leases
Minimum rentals	$ 215,516	$ 192,175	$ 167,558
Contingent rentals	14,786	12,918	5,827
Sublease rentals	(667)	(686)	(642)
Total Rental Expense	229,635	204,407	172,743
Minimum rental commitments payable in future years
2014	223,495
2015	210,019
2016	191,642
2017	159,488
2018	127,982
Later years	342,534
Total Minimum Rental Commitments	$ 1,255,160

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 7) (Details)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.35%	5.25%	5.625%
Expected long-term rate of return on plan assets	7.75%	8.25%	8.25%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.17%	5.25%	5.50%
Expected long-term rate of return on plan assets	0.00%	0.00%	0.00%
Rate of compensation increase	0.00%	0.00%	0.00%

XML

Share-Based Compensation Plans (Details 1) (USD $)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Summary of the status of the Company's nonvested shares of its employee restricted stock
Nonvested Shares, Beginning balance	772,665	818,119	676,114
Granted, Shares	194,232	289,407	404,995
Vested, Shares	(195,203)	(227,691)	(179,684)
Withheld for federal taxes, Shares	(75,552)	(93,089)	(81,731)
Forfeited, Shares	(3,360)	(14,081)	(1,575)
Nonvested Shares, Ending balance	692,782	772,665	818,119
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Nonvested, Weighted-Average Grant-Date Fair Value, Beginning balance	$ 32.41	$ 23.95	$ 20.94
Granted, Weighted-Average Grant-Date Fair Value	$ 57.58	$ 45.14	$ 28.41
Vested, Weighted-Average Grant-Date Fair Value	$ 29.95	$ 22.58	$ 23.09
Withheld for federal taxes, Weighted-Average Grant-Date Fair Value	$ 29.97	$ 22.42	$ 23.15
Forfeited, Weighted-Average Grant-Date Fair Value	$ 38.96	$ 27.38	$ 19.40
Nonvested, Weighted-Average Grant-Date Fair Value, Ending balance	$ 40.59	$ 32.41	$ 23.95

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 12) (Details) (USD $) In Millions, unless otherwise specified	Feb. 02, 2013
Pension Benefits
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2013	$ 8.7
2014	8.7
2015	8.4
2016	8.3
2017	8.1
2018 – 2022	38.1
Other Benefits
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2013	0.2
2014	0.2
2015	0.2
2016	0.2
2017	0.2
2018 – 2022	$ 1.3

XML

Share-Based Compensation Plans (Details Textual) (USD $)	12 Months Ended																12 Months Ended						12 Months Ended
	Feb. 02, 2013 Plan	Jan. 28, 2012	Jan. 29, 2011	Jan. 28, 2012 Maximum [Member]	Feb. 02, 2013 Stock Options [Member]	Feb. 02, 2013 Stock Options [Member] Maximum [Member]	Feb. 02, 2013 Nonvested Restricted Shares [Member]	Jan. 28, 2012 Nonvested Restricted Shares [Member]	Jan. 29, 2011 Nonvested Restricted Shares [Member]	Feb. 02, 2013 Director [Member]	Jan. 28, 2012 Director [Member]	Jan. 29, 2011 Director [Member]	Feb. 02, 2013 Director [Member] Nonvested Restricted Shares [Member]	Jan. 28, 2012 Director [Member] Nonvested Restricted Shares [Member]	Jan. 29, 2011 Director [Member] Nonvested Restricted Shares [Member]	Jun. 22, 2011 2009 Equity Incentive Plan [Member]	Feb. 02, 2013 2009 Equity Incentive Plan [Member] Nonvested Restricted Shares [Member]	Jan. 28, 2012 2009 Equity Incentive Plan [Member] Nonvested Restricted Shares [Member]	Jan. 29, 2011 2009 Equity Incentive Plan [Member] Nonvested Restricted Shares [Member]	Feb. 02, 2013 2009 Equity Incentive Plan [Member] Director [Member]	Jan. 28, 2012 2009 Equity Incentive Plan [Member] Director [Member]	Feb. 02, 2013 2005 Equity Incentive Plan [Member]	Jan. 29, 2011 2005 Equity Incentive Plan [Member] Director [Member]	Feb. 02, 2013 2005 Equity Incentive Plan [Member] Director [Member] Nonvested Restricted Shares [Member]
Share-Based Compensation Plans (Textual) [Abstract]
Number of fixed stock compensation plans	2
Share-based compensation, shares issued																2,500,000						2,500,000
Stock option's maximum term						10 years
Vesting term					4 years												4 years
Annual vesting percentage	25.00%																25.00%							33.33%
Share-based compensation cost	$ 0	$ 1,000	$ 200,000	$ 1,000			$ 9,600,000	$ 6,900,000	$ 7,300,000	$ 900,000	$ 800,000	$ 500,000
Share based compensation tax benefit realized from exercise of stock option	4,800,000	4,700,000	1,400,000
Total intrinsic value, of options exercised	11,500,000	10,300,000	2,300,000
Cash received from option exercises under all share-based payment	4,800,000	9,700,000	2,200,000
Granted, Shares	194,232	289,407	404,995										336	0	0
Share-based compensation for restricted stock value grant in period																				80,000	70,000		60,000
Share-based compensation, shares issued										9,888	14,643	17,838					194,232	289,407	404,995
Unrecognized share-based compensation cost							$ 21,700,000
Weighted average expected period nonvested share-based compensation							2 years 3 months 7 days

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 8) (Details)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Health care cost trend rate assumed for next year	7.00%	7.50%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2017	2017

XML

Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirment Benefit Plans (Details 2) (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	$ 0	$ 4
Net loss	42,879	48,906
Total Recognized in Accumulated Other Comprehensive Loss	42,879	48,910
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	0	0
Net loss	566	437
Total Recognized in Accumulated Other Comprehensive Loss	$ 566	$ 437

XML

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 02, 2013

Accounting Policies [Abstract]

Nature of Operations

Nature of Operations

The Company's business includes the design and sourcing, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Shi by Journeys, Underground by Journeys and Johnston & Murphy banners and under the Schuh banner in the United Kingdom and the Republic of Ireland; through e-commerce websites including journeys.com, journeyskidz.com, shibyjourneys.com, undergroundbyjourneys.com, schuh.co.uk and johnstonmurphy.com and catalogs, and at wholesale, primarily under the Company's Johnston & Murphy brand, the licensed Dockers brand and other brands that the Company licenses for men's footwear. The Company's business also includes Lids Sports Group, which operates headwear and accessory stores in the U.S. and Canada primarily under the Lids, Hat World and Hat Shack banners; the Lids Locker Room business, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, operating primarily under the Lids Locker Room, Sports Fan-Attic and Sports Avenue banners; certain e-commerce operations and an athletic team dealer business operating as Lids Team Sports.

Principles of Consolidation

Principles of Consolidation

All subsidiaries are consolidated in the consolidated financial statements. All significant intercompany transactions and accounts have been eliminated.

Fiscal Year

Fiscal Year

The Company’s fiscal year ends on the Saturday closest to January 31. As a result, Fiscal 2013 was a 53-week year with 371 days and each of Fiscal 2012 and Fiscal 2011 was a 52-week year with 364 days. Fiscal 2013 ended on February 2, 2013, Fiscal 2012 ended on January 28, 2012 and Fiscal 2011 ended on January 29, 201l.

Financial Statement Reclassifications

Financial Statement Reclassifications

Certain reclassifications have been made to conform prior years' data to the current year presentation with respect to segments. The Company integrated the Underground Station operations into the Journeys Group in the first quarter of Fiscal 2013. The former Underground Station stores are a

Note 1

Summary of Significant Accounting Policies, Continued

subset of Journeys Group under the brand "Underground by Journeys." Journeys Group segment net sales, operating income, total assets, depreciation and amortization and capital expenditures have been restated by $92.4 million, $(0.3) million, $25.2 million, $1.8 million and $0.2 million, respectively, for Fiscal 2012 and by $94.4 million, $(3.0) million, $27.8 million, $2.2 million and $1.3 million, respectively, for Fiscal 2011 as a result of combining Underground Station Group with the Journeys Group segment to conform to current year presentation (See Note 14).

Certain shipping and warehouse expenses have been reclassed from selling and administrative expenses to cost of sales in Fiscal 2012 and 2011 to conform to the current year presentation. The reclass to cost of sales from selling and administrative expense for Fiscal 2012 and 2011 was $6.3 million and $3.8 million, respectively.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Significant areas requiring management estimates or judgments include the following key financial areas:

Inventory Valuation

The Company values its inventories at the lower of cost or market.

In its footwear wholesale operations, its Schuh Group segment and its Lids Sports Group wholesale operations, except for the Anaconda Sports wholesale division, cost is determined using the first-in, first-out (“FIFO”) method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company.

The Lids Sports Group retail segment and its Anaconda Sports wholesale division employ the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate.

In its retail operations, other than the Schuh Group and Lids Sports Group retail segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories.

Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the

Note 1

Summary of Significant Accounting Policies, Continued

fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return

products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates.

Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value.

Impairment of Long-Lived Assets

The Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets. See also Notes 3 and 5.

The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its latest annual test, which was completed in the fourth quarter, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, estimates of future expected changes in operating margins and cash

Note 1

Summary of Significant Accounting Policies, Continued

expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements.

If the carrying value of the reporting unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting

unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value

to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference.

Environmental and Other Contingencies

The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million in Fiscal 2013, $1.8 million in Fiscal 2012 and $2.9 million in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s reserves and accruals, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its reserve in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional reserves, that some or all reserves will be adequate or that the amounts of any such additional reserves or any such inadequacy will not have a material adverse effect upon the Company’s financial condition, cash flows, or results of operations. See also Notes 3 and 8.

Revenue Recognition

Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at estimated time of delivery to the customer and are net of estimated returns and exclude sales and value added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience.

Note 1

Summary of Significant Accounting Policies, Continued

Income Taxes

As part of the process of preparing Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating actual current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Consolidated Balance Sheets. The Company then assesses the likelihood that its deferred tax assets will be recovered from future taxable income. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances

are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At February 2, 2013, the Company had a deferred tax valuation allowance of $3.5 million.

Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification ("Codification"). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results.

The Company recorded an effective income tax rate of 31.9% for Fiscal 2013 compared to 40.2% for 2012. This year's tax rate is lower primarily due to the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions. The Company recorded an effective federal income tax rate of 40.2% for Fiscal 2012 compared to 35.8% for Fiscal 2011. Fiscal 2012's higher effective tax rate of 40.2% reflects transaction costs and deferred purchase price related to the Schuh acquisition, which are considered permanent differences. Fiscal 2011's lower effective tax rate of 35.8% reflects the net reduction of the Company’s liability for uncertain tax positions of $1.3 million in Fiscal 2011.

Note 1

Summary of Significant Accounting Policies, Continued

Postretirement Benefits Plan Accounting

Full-time employees who had at least 1,000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with limited medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act.

As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in their Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur.

The Company accounts for the defined benefit pension plans using the Compensation-Retirement Benefits Topic of the Codification. As permitted under this topic, pension expense is recognized on an accrual basis over employees’ approximate service periods. The calculation of pension expense

and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions.

Share-Based Compensation

The Company has share-based compensation plans covering certain members of management and non-employee directors. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification. For Fiscal 2013, 2012 and 2011, share-based compensation expense was $0, less than $1,000 and $0.2 million, respectively. The Company has not issued any new stock option awards since the first quarter of Fiscal 2008. For Fiscal 2013, 2012 and 2011, restricted stock expense was $10.5 million, $7.7 million, and $7.8 million, respectively. The fair value of employee restricted stock is determined based on the closing price of the Company’s stock on the date of the grant. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.

Inventory Valuation

Inventory Valuation

The Company values its inventories at the lower of cost or market.

In its footwear wholesale operations, its Schuh Group segment and its Lids Sports Group wholesale operations, except for the Anaconda Sports wholesale division, cost is determined using the first-in, first-out (“FIFO”) method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company.

The Lids Sports Group retail segment and its Anaconda Sports wholesale division employ the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate.

In its retail operations, other than the Schuh Group and Lids Sports Group retail segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories.

Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the

Note 1

Summary of Significant Accounting Policies, Continued

fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return

products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates.

Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

The Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets. See also Notes 3 and 5.

The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its latest annual test, which was completed in the fourth quarter, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, estimates of future expected changes in operating margins and cash

Note 1

Summary of Significant Accounting Policies, Continued

expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements.

If the carrying value of the reporting unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting

unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value

to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference.

Enviornmental and Other Contingencies

Environmental and Other Contingencies

The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million in Fiscal 2013, $1.8 million in Fiscal 2012 and $2.9 million in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s reserves and accruals, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its reserve in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional reserves, that some or all reserves will be adequate or that the amounts of any such additional reserves or any such inadequacy will not have a material adverse effect upon the Company’s financial condition, cash flows, or results of operations.

Revenue Recognition

Revenue Recognition

Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at estimated time of delivery to the customer and are net of estimated returns and exclude sales and value added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience.

Income Taxes

Income Taxes

As part of the process of preparing Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating actual current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Consolidated Balance Sheets. The Company then assesses the likelihood that its deferred tax assets will be recovered from future taxable income. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances

are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At February 2, 2013, the Company had a deferred tax valuation allowance of $3.5 million.

Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification ("Codification"). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results.

Pension and Other Postretirement Plans, Policy [Policy Text Block]

Postretirement Benefits Plan Accounting

Full-time employees who had at least 1,000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with limited medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act.

As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in their Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur.

The Company accounts for the defined benefit pension plans using the Compensation-Retirement Benefits Topic of the Codification. As permitted under this topic, pension expense is recognized on an accrual basis over employees’ approximate service periods. The calculation of pension expense

and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions.

Share-Based Compensation

Share-Based Compensation

The Company has share-based compensation plans covering certain members of management and non-employee directors. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification. For Fiscal 2013, 2012 and 2011, share-based compensation expense was $0, less than $1,000 and $0.2 million, respectively. The Company has not issued any new stock option awards since the first quarter of Fiscal 2008. For Fiscal 2013, 2012 and 2011, restricted stock expense was $10.5 million, $7.7 million, and $7.8 million, respectively. The fair value of employee restricted stock is determined based on the closing price of the Company’s stock on the date of the grant. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.

Cash and Cash Equivalents

Cash and Cash Equivalents

Included in cash and cash equivalents at February 2, 2013 and January 28, 2012 are cash equivalents of $0.2 million for each year. Cash equivalents are highly-liquid financial instruments having an original maturity of three months or less. At February 2, 2013, substantially all of the Company’s domestic cash was invested in deposit accounts at FDIC-insured banks. The majority of payments due from banks for domestic customer credit card transactions process within 24 - 48 hours and are accordingly classified as cash and cash equivalents.

Note 1

Summary of Significant Accounting Policies, Continued

At February 2, 2013 and January 28, 2012, outstanding checks drawn on zero-balance accounts at certain domestic banks exceeded book cash balances at those banks by approximately $36.1 million and $39.0 million, respectively. These amounts are included in accounts payable.

Concentration of Credit Risk and Allowances on Accounts Receivable

Concentration of Credit Risk and Allowances on Accounts Receivable

The Company’s footwear wholesale businesses sell primarily to independent retailers and department stores across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer specific factors. The Company’s Lids Team Sports wholesale business sells primarily to colleges and high school athletic teams and their fan bases. Including both footwear wholesale and Lids Team Sports wholesale business receivables, two customers each accounted for 7% of the Company’s total trade receivables balance, while no other customer accounted for more than 6% of the Company’s total trade receivables balance as of February 2, 2013.

The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information, as well as customer specific factors. The Company also establishes allowances for sales returns, customer deductions and co-op advertising based on specific circumstances, historical trends and projected probable outcomes.

Property and Equipment

Property and Equipment

Property and equipment are recorded at cost and depreciated or amortized over the estimated useful life of related assets. Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives:

Buildings and building equipment	20-45 years
Computer hardware, software and equipment	3-10 years
Furniture and fixtures	10 years

Leases

Leases

Leasehold improvements and properties under capital leases are amortized on the straight-line method over the shorter of their useful lives or their related lease terms and the charge to earnings is included in selling and administrative expenses in the Consolidated Statements of Operations.

Certain leases include rent increases during the initial lease term. For these leases, the Company recognizes the related rental expense on a straight-line basis over the term of the lease (which

includes any rent holidays and the pre-opening period of construction, renovation, fixturing and merchandise placement) and records the difference between the amounts charged to operations and amounts paid as deferred rent.

The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are amortized as a reduction of rent expense over the initial lease term.

Goodwill and Other Intangibles

Goodwill and Other Intangibles

Under the provisions of the Intangibles – Goodwill and Other Topic of the Codification, goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually, during the fourth quarter, for impairment. The Company will update the tests between annual tests if events or

circumstances occur that would more likely than not reduce the fair value of the business unit with which the goodwill is associated below its carrying amount. It is also required that intangible assets with finite lives be amortized over their respective lives to their estimated residual values, and reviewed for impairment in accordance with the Property, Plant and Equipment Topic of the Codification.

Intangible assets of the Company with indefinite lives are primarily goodwill and identifiable trademarks, net of amortization, acquired in connection with the acquisition of Schuh Group Ltd. in June 2011 and Hat World Corporation in April 2004. The Consolidated Balance Sheets include goodwill of $172.3 million for the Lids Sports Group, $100.7 million for the Schuh Group and $0.8 million for Licensed Brands at February 2, 2013 and $159.1 million for the Lids Sports Group, $99.9 million for the Schuh Group and $0.8 million for Licensed Brands at January 28, 2012. The Company tests for impairment of intangible assets with an indefinite life, relying on a number of factors including operating results, business plans, projected future cash flows and observable market data. The impairment test for identifiable assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying amount. The Company has not recorded an impairment charge for intangible assets.

In connection with acquisitions, the Company records goodwill on its Consolidated Financial Statements. This asset is not amortized but is subject to an impairment test at least annually, based on projected future cash flows from the acquired business discounted at a rate commensurate with the risk the Company considers to be inherent in its current business model. The Company performs the impairment test annually as of the close of its fiscal year, or more frequently if events or circumstances indicate that the value of the asset might be impaired.

As a result of the various acquisitions comprising the Lids Team Sports team dealer business, the Company carries goodwill at a value of $14.0 million on its Consolidated Balance Sheets related to such acquisitions. The Company found that the result of its annual impairment test, which valued the business at approximately $2.8 million in excess of its carrying value, indicated no impairment at that time. The Company may determine in future impairment tests that some or all of the carrying value of the goodwill may not be recoverable. Such a finding would require a write-off of the amount of the carrying value that is impaired, which would reduce the Company's profitability in the period of the impairment charge. Holding all other assumptions constant as of the measurement date, the Company noted that an increase in the weighted average cost of capital of 100 basis points would reduce the fair value of the Lids Team Sports business by $7.4 million. Furthermore, the Company noted that a decrease in projected annual revenue growth by one percent would reduce the fair value of the Lids Team Sports business by $0.4 million. However, if other assumptions do not remain constant, the fair value of the Lids Team Sports business may decrease by a greater amount.

Note 1

Summary of Significant Accounting Policies, Continued

Identifiable intangible assets of the Company with finite lives are trademarks, customer lists, in-place leases, non-compete agreements and a vendor contract. They are subject to amortization based upon

their estimated useful lives. Finite-lived intangible assets are evaluated for impairment using a process similar to that used to evaluate other definite-lived long-lived assets, a comparison of the fair value of the intangible asset with its carrying amount. An impairment loss is recognized for the amount

by which the carrying value exceeds the fair value of the asset.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments at February 2, 2013 and January 28, 2012 are:

In thousands	February 2, 2013		January 28, 2012
	Carrying Amount	Fair Value	Carrying Amount		Fair Value
U.S. Revolver Borrowings	27,700	27,742	$	5,000	5,021
UK Term Loans	22,982	22,982	35,704		35,387

Debt fair values were determined using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 as defined in Note 5.

Carrying amounts reported on the Consolidated Balance Sheets for cash, cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these instruments.

Cost of Sales

Cost of Sales

For the Company’s retail operations, the cost of sales includes actual product cost, the cost of transportation to the Company’s warehouses from suppliers and the cost of transportation from the Company’s warehouses to the stores. Additionally, the cost of its distribution facilities allocated to its retail operations is included in cost of sales.

For the Company’s wholesale operations, the cost of sales includes the actual product cost and the cost of transportation to the Company’s warehouses from suppliers.

Selling and Administrative Expenses

Selling and Administrative Expenses

Selling and administrative expenses include all operating costs of the Company excluding (i) those related to the transportation of products from the supplier to the warehouse, (ii) for its retail operations, those related to the transportation of products from the warehouse to the store and (iii) costs of its distribution facilities which are allocated to its retail operations. Wholesale and unallocated retail costs of distribution are included in selling and administrative expenses in the amounts of $8.2 million, $9.2 million and $5.9 million for Fiscal 2013, 2012 and 2011, respectively.

Gift Cards

Gift Cards

The Company has a gift card program that began in calendar 1999 for its Lids Sports operations and calendar 2000 for its footwear operations. The gift cards issued to date do not expire. As such, the Company recognizes income when: (i) the gift card is redeemed by the customer; or (ii) the likelihood of the gift card being redeemed by the customer for the purchase of goods in the future is remote and there are no related escheat laws (referred to as “breakage”). The gift card breakage rate is based

upon historical redemption patterns and income is recognized for unredeemed gift cards in proportion to those historical redemption patterns.

Gift card breakage is recognized in revenues each period. Gift card breakage recognized as revenue was $0.7 million, $0.6 million and $0.7 million for Fiscal 2013, 2012 and 2011, respectively. The Consolidated Balance Sheets include an accrued liability for gift cards of $13.1 million and $10.4 million at February 2, 2013 and January 28, 2012, respectively.

Buying, Merchandising and Occupancy Costs

Buying, Merchandising and Occupancy Costs

The Company records buying, merchandising and occupancy costs in selling and administrative expense. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin.

Shipping and Handling Costs

Shipping and Handling Costs

Shipping and handling costs related to inventory purchased from suppliers are included in the cost of inventory and are charged to cost of sales in the period that the inventory is sold. All other shipping and handling costs are charged to cost of sales in the period incurred except for wholesale and unallocated retail costs of distribution, which are included in selling and administrative expenses.

Preopening Costs

Preopening Costs

Costs associated with the opening of new stores are expensed as incurred, and are included in selling and administrative expenses on the accompanying Consolidated Statements of Operations.

Store Closings and Exit Costs

Store Closings and Exit Costs

From time to time, the Company makes strategic decisions to close stores or exit locations or activities. If stores or operating activities to be closed or exited constitute components, as defined by the Property, Plant and Equipment Topic of the Codification, and will not result in a migration of customers and cash flows, these closures will be considered discontinued operations when the related assets meet the criteria to be classified as held for sale, or at the cease-use date, whichever occurs first. The results of operations of discontinued operations are presented retroactively, net of tax, as a separate component on the Consolidated Statements of Operations, if material individually or cumulatively. In Fiscal 2013, no store closings meeting the discontinued operations criteria have been material individually or cumulatively.

Note 1

Summary of Significant Accounting Policies, Continued

Assets related to planned store closures or other exit activities are reflected as assets held for sale and recorded at the lower of carrying value or fair value less costs to sell when the required criteria, as defined by the Property, Plant and Equipment Topic of the Codification, are satisfied. Depreciation ceases on the date that the held for sale criteria are met.

Assets related to planned store closures or other exit activities that do not meet the criteria to be classified as held for sale are evaluated for impairment in accordance with the Company’s normal impairment policy, but with consideration given to revised estimates of future cash flows. In any event, the remaining depreciable useful lives are evaluated and adjusted as necessary.

Exit costs related to anticipated lease termination costs, severance benefits and other expected charges are accrued for and recognized in accordance with the Exit or Disposal Cost Obligations Topic of the Codification.

Advertising Costs

Advertising Costs

Advertising costs are predominantly expensed as incurred. Advertising costs were $48.3 million, $42.5 million and $35.1 million for Fiscal 2013, 2012 and 2011, respectively. Direct response advertising costs for catalogs are capitalized in accordance with the Other Assets and Deferred Costs Topic for Capitalized Advertising Costs of the Codification. Such costs are amortized over the estimated future period as revenues are realized from such advertising, not to exceed six months.

The Consolidated Balance Sheets include prepaid assets for direct response advertising costs of $1.4 million and $1.1 million at February 2, 2013 and January 28, 2012.

Consideration to Resellers

Consideration to Resellers

The Company does not have any written buy-down programs with retailers, but the Company has provided certain retailers with markdown allowances for obsolete and slow moving products that are in the retailer’s inventory. The Company estimates these allowances and provides for them as reductions to revenues at the time revenues are recorded. Markdowns are negotiated with retailers and changes are made to the estimates as agreements are reached. Actual amounts for markdowns have not differed materially from estimates.

Cooperative Advertising

Cooperative Advertising

Cooperative advertising funds are made available to most of the Company’s wholesale footwear customers. In order for retailers to receive reimbursement under such programs, the retailer must meet specified advertising guidelines and provide appropriate documentation of expenses to be reimbursed. The Company’s cooperative advertising agreements require that wholesale customers present documentation or other evidence of specific advertisements or display materials used for the Company’s products by submitting the actual print advertisements presented in catalogs, newspaper inserts or other advertising circulars, or by permitting physical inspection of displays. Additionally, the Company’s cooperative advertising agreements require that the amount of reimbursement requested for such advertising or materials be supported by invoices or other evidence of the actual costs incurred by the

Note 1

Summary of Significant Accounting Policies, Continued

retailer. The Company accounts for these cooperative advertising costs as selling and administrative expenses, in accordance with the Revenue Recognition Topic for Customer Payments and Incentives of the Codification.

Cooperative advertising costs recognized in selling and administrative expenses were $3.5 million, $3.3 million and $3.2 million for Fiscal 2013, 2012 and 2011, respectively. During Fiscal 2013, 2012 and 2011, the Company’s cooperative advertising reimbursements paid did not exceed the fair value of the benefits received under those agreements.

Vendor Allowances

Vendor Allowances

From time to time, the Company negotiates allowances from its vendors for markdowns taken or expected to be taken. These markdowns are typically negotiated on specific merchandise and for specific amounts. These specific allowances are recognized as a reduction in cost of sales in the

period in which the markdowns are taken. Markdown allowances not attached to specific inventory on hand or already sold are applied to concurrent or future purchases from each respective vendor.

The Company receives support from some of its vendors in the form of reimbursements for cooperative advertising and catalog costs for the launch and promotion of certain products. The reimbursements are agreed upon with vendors and represent specific, incremental, identifiable costs incurred by the Company in selling the vendor’s specific products. Such costs and the related reimbursements are accumulated and monitored on an individual vendor basis, pursuant to the respective cooperative advertising agreements with vendors. Such cooperative advertising reimbursements are recorded as a reduction of selling and administrative expenses in the same period in which the associated expense is incurred. If the amount of cash consideration received exceeds the costs being reimbursed, such excess amount would be recorded as a reduction of cost of sales.

Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $3.8 million, $3.0 million and $3.1 million for Fiscal 2013, 2012 and 2011, respectively. During Fiscal 2013, 2012 and 2011, the Company’s cooperative advertising reimbursements received were not in excess of the costs incurred.

Environmental Costs

Environmental Costs

Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated and are evaluated independently of any future claims for recovery. Generally, the timing of these accruals coincides with completion of a feasibility study or the Company's commitment to a formal plan of action. Costs of future expenditures for environmental remediation obligations are not discounted to their present value.

Earnings Per Common Share

Earnings Per Common Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities to issue common stock were exercised or converted to common stock (see Note 11).

Other Comprehensive Income

Other Comprehensive Income

The Comprehensive Income Topic of the Codification requires, among other things, the Company’s pension liability adjustment, postretirement liability adjustment, unrealized gains or losses on foreign currency forward contracts and foreign currency translation adjustments to be included in other comprehensive income net of tax. Accumulated other comprehensive loss at February 2, 2013 consisted of $26.0 million of cumulative pension liability adjustment, net of tax, a cumulative post retirement liability adjustment of $0.3 million, net of tax, and a cumulative foreign currency translation adjustment of $1.9 million.

Business Segments

Business Segments

The Segment Reporting Topic of the Codification requires that companies disclose “operating segments” based on the way management disaggregates the Company’s operations for making internal operating decisions (see Note 14).

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

The Derivatives and Hedging Topic of the Codification requires an entity to recognize all derivatives as either assets or liabilities in the Consolidated Balance Sheet and to measure those instruments at fair value. Under certain conditions, a derivative may be specifically designated as a fair value hedge or a cash flow hedge. The accounting for changes in the fair value of a derivative are recorded each period in current earnings or in other comprehensive income depending on the intended use of the derivative and the resulting designation. In prior periods, the Company entered into a small amount of foreign currency forward exchange contracts in order to reduce exposure to foreign currency exchange rate fluctuations in connection with inventory purchase commitments for its Johnston & Murphy Group.

There were no such contracts outstanding at February 2, 2013 or January 28, 2012. For the year ended February 2, 2013, the Company recorded an unrealized gain on foreign currency forward contracts of less than $0.1 million in accumulated other comprehensive loss, before taxes. The Company monitors the credit quality of the major international, national and regional financial institutions with which it enters into such contracts.

New Accounting Principles

New Accounting Principles

In June 2011, FASB issued Accounting Standards Update No. 2011-05, an update to the FASB Codification Comprehensive Income Topic, which amends the existing accounting standards related to the presentation of comprehensive income in a company's financial statements. This update requires that all non-owner changes in shareholders' equity be presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two statement approach, the first statement would present total net earnings and its components followed consecutively by a second statement that should present total other comprehensive income, the components of other comprehensive income and the total of comprehensive income. The update does not change the items that must be reported in other comprehensive income and must be applied retrospectively for all periods presented in the Consolidated Financial Statements. The Company adopted this update in the first quarter of Fiscal 2013 and has included a separate statement of comprehensive income in its Consolidated Financial Statements. The adoption did not have a significant impact on the Company’s results of operations or financial position.

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Asset Impairments and Other Charges and Discontinued Operations (Details ) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Accrued Provision for Discontinued Operations
Additional provision	$ 796		$ 1,692	$ 2,203
Current provision for discontinued operations	7,192		8,250
Total Noncurrent Provision for Discontinued Operations	4,159		4,267
Facility Shutdown Costs [Member]
Accrued Provision for Discontinued Operations
Balance at beginning of period	12,517		15,035
Additional provision	796		1,692
Charges and adjustments, net	(1,962)		(4,210)
Balance at end of period	11,351	[1]	12,517
Current provision for discontinued operations	7,192
Total Noncurrent Provision for Discontinued Operations	$ 4,159

[1] Includes a $11.9 million environmental provision, including $7.7 million in current provision for discontinued operations.

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Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Feb. 02, 2013
Furniture and fixtures [Member]
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	10 years
Minimum [Member] | Buildings and building equipment [Member]
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	20 years
Minimum [Member] | Computer hardware, software and equipment [Member]
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	3 years
Maximum [Member] | Buildings and building equipment [Member]
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	45 years
Maximum [Member] | Computer hardware, software and equipment [Member]
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	10 years

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Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 6) (Details)	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.00%	4.35%	5.25%
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.01%	4.17%
Rate of compensation increase	0.00%	0.00%

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Share-Based Compensation Plans (Tables)

12 Months Ended

Feb. 02, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock option activity

A summary of fixed stock option activity and changes for Fiscal 2013, 2012 and 2011 is presented below:

	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)(1)
Outstanding, January 30, 2010	995,580		$	24.04
Granted	0		—
Exercised	(118,450	)	18.77
Forfeited	0		—
Outstanding, January 29, 2011	877,130		$	24.75
Granted	0		—
Exercised	(390,357	)	24.82
Forfeited	0		—
Outstanding, January 28, 2012	486,773		$	24.70
Granted	0		—
Exercised	(223,618	)	21.50
Forfeited	0		—
Outstanding, February 2, 2013	263,155		$	27.43	1.98	$	9,317
Exercisable, February 2, 2013	263,155		$	27.43	1.98	$	9,317

(1) Based upon the difference between the closing market price of the Company’s common stock on the last trading day of the year and the grant price of in-the-money options.

Summary of the status of the Company's nonvested shares of its employee restricted stock

A summary of the status of the Company’s nonvested shares of its employee restricted stock as of February 2, 2013 is presented below:

Nonvested Restricted Shares	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at January 30, 2010	676,114		$	20.94
Granted	404,995		28.41
Vested	(179,684	)	23.09
Withheld for federal taxes	(81,731	)	23.15
Forfeited	(1,575	)	19.40
Nonvested at January 29, 2011	818,119		23.95
Granted	289,407		45.14
Vested	(227,691	)	22.58
Withheld for federal taxes	(93,089	)	22.42
Forfeited	(14,081	)	27.38
Nonvested at January 28, 2012	772,665		32.41
Granted	194,232		57.58
Vested	(195,203	)	29.95
Withheld for federal taxes	(75,552	)	29.97
Forfeited	(3,360	)	38.96
Nonvested at February 2, 2013	692,782		$	40.59

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Inventories (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Inventories
Raw materials	$ 24,223	$ 30,636
Wholesale finished goods	57,161	53,453
Retail merchandise	423,960	351,024
Total Inventories	$ 505,344	$ 435,113

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Income Taxes (Details 4) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Reconciliation of the total amounts of unrecognized tax benefits
Unrecognized Tax Benefit - Beginning of Period	$ 20,467	$ 14,167	$ 17,004
Gross Increases (Decreases) - Tax Positions in a Prior Period	(2,464)	(29)	(517)
Gross Increases - Tax Positions in a Current Period	133	6,986	473
Settlements	(449)	(533)	(2,605)
Lapse of Statutes of Limitations	(7,250)	(124)	(188)
Unrecognized Tax Benefit - End of Period	$ 10,437	$ 20,467	$ 14,167

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Equity (Details 2)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Changes in shares of company's capital stock
Issued, beginning balance	24,757,826
Exercise of options	223,618	390,357	118,450
Shares repurchased	(645,904)		(863,767)
Issued, ending balance	24,484,915	24,757,826
Less shares repurchased and held in treasury	488,464	488,464
Outstanding	23,996,451	24,269,362
Common Stock [Member]
Changes in shares of company's capital stock
Issued, beginning balance	24,757,826	24,162,634	24,562,693
Exercise of options	223,618	390,357	118,450
Issue restricted stock	204,456	304,050	422,833
Issue shares - Employee Stock Purchase Plan	2,463	2,717	4,230
Shares repurchased	(645,904)		(863,767)
Other	(57,544)	(101,932)	(81,805)
Issued, ending balance	24,484,915	24,757,826	24,162,634
Less shares repurchased and held in treasury	488,464
Outstanding	23,996,451
Non-Redeemable Preferred Stock [Member]
Changes in shares of company's capital stock
Preferred stock, beginning balance	75,475	79,306	79,469
Exercise of options	0	0	0
Issue restricted stock	0	0	0
Issue shares - Employee Stock Purchase Plan	0	0	0
Shares repurchased	0		0
Other	(18,560)	(3,831)	(163)
Preferred stock, ending balance	56,915	75,475	79,306
Less shares repurchased and held in treasury	0
Preferred stock, outstanding	56,915	75,475	79,306
Employees' Preferred Stock [Member]
Changes in shares of company's capital stock
Preferred stock, beginning balance	47,922	49,192	50,350
Exercise of options	0	0	0
Issue restricted stock	0	0	0
Issue shares - Employee Stock Purchase Plan	0	0	0
Shares repurchased	0		0
Other	(1,070)	(1,270)	(1,158)
Preferred stock, ending balance	46,852	47,922	49,192
Less shares repurchased and held in treasury	0
Preferred stock, outstanding	46,852

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Acquisitions and Intangible Assets (Details 1) (Schuh Group [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Jan. 28, 2012	Jan. 29, 2011
Schuh Group [Member]
Summary of results of earnings from operations
Net sales	$ 2,384,267	$ 2,045,473
Earnings from continuing operations	$ 86,378	$ 57,897
Earnings per share:
Basic (USD per share)	$ 3.71	$ 2.49
Diluted (USD per share)	$ 3.62	$ 2.44

XML

Summary of Significant Accounting Policies

12 Months Ended

Feb. 02, 2013

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Nature of Operations

The Company's business includes the design and sourcing, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Shi by Journeys, Underground by Journeys and Johnston & Murphy banners and under the Schuh banner in the United Kingdom and the Republic of Ireland; through e-commerce websites including journeys.com, journeyskidz.com, shibyjourneys.com, undergroundbyjourneys.com, schuh.co.uk and johnstonmurphy.com and catalogs, and at wholesale, primarily under the Company's Johnston & Murphy brand, the licensed Dockers brand and other brands that the Company licenses for men's footwear. The Company's business also includes Lids Sports Group, which operates headwear and accessory stores in the U.S. and Canada primarily under the Lids, Hat World and Hat Shack banners; the Lids Locker Room business, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, operating primarily under the Lids Locker Room, Sports Fan-Attic and Sports Avenue banners; certain e-commerce operations and an athletic team dealer business operating as Lids Team Sports. Including both the footwear businesses and the Lids Sports Group business, at February 2, 2013, the Company operated 2,459 retail stores in the U.S., Puerto Rico, Canada, the United Kingdom and the Republic of Ireland.

During Fiscal 2013, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations; (ii) Schuh Group, acquired in June 2011, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised as described in the preceding paragraph; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution; and (v) Licensed Brands, comprised of Dockers^® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip^®Footwear, occupational footwear primarily sold directly to consumers; and other footwear brands.

Principles of Consolidation

All subsidiaries are consolidated in the consolidated financial statements. All significant intercompany transactions and accounts have been eliminated.

Fiscal Year

The Company’s fiscal year ends on the Saturday closest to January 31. As a result, Fiscal 2013 was a 53-week year with 371 days and each of Fiscal 2012 and Fiscal 2011 was a 52-week year with 364 days. Fiscal 2013 ended on February 2, 2013, Fiscal 2012 ended on January 28, 2012 and Fiscal 2011 ended on January 29, 201l.

Financial Statement Reclassifications

Certain reclassifications have been made to conform prior years' data to the current year presentation with respect to segments. The Company integrated the Underground Station operations into the Journeys Group in the first quarter of Fiscal 2013. The former Underground Station stores are a

Note 1

Summary of Significant Accounting Policies, Continued

subset of Journeys Group under the brand "Underground by Journeys." Journeys Group segment net sales, operating income, total assets, depreciation and amortization and capital expenditures have been restated by $92.4 million, $(0.3) million, $25.2 million, $1.8 million and $0.2 million, respectively, for Fiscal 2012 and by $94.4 million, $(3.0) million, $27.8 million, $2.2 million and $1.3 million, respectively, for Fiscal 2011 as a result of combining Underground Station Group with the Journeys Group segment to conform to current year presentation (See Note 14).

Certain shipping and warehouse expenses have been reclassed from selling and administrative expenses to cost of sales in Fiscal 2012 and 2011 to conform to the current year presentation. The reclass to cost of sales from selling and administrative expense for Fiscal 2012 and 2011 was $6.3 million and $3.8 million, respectively.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Significant areas requiring management estimates or judgments include the following key financial areas:

Inventory Valuation

The Company values its inventories at the lower of cost or market.

In its footwear wholesale operations, its Schuh Group segment and its Lids Sports Group wholesale operations, except for the Anaconda Sports wholesale division, cost is determined using the first-in, first-out (“FIFO”) method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company.

The Lids Sports Group retail segment and its Anaconda Sports wholesale division employ the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate.

In its retail operations, other than the Schuh Group and Lids Sports Group retail segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories.

Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the

Note 1

Summary of Significant Accounting Policies, Continued

fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return

products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates.

Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value.

Impairment of Long-Lived Assets

The Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets. See also Notes 3 and 5.

The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its latest annual test, which was completed in the fourth quarter, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, estimates of future expected changes in operating margins and cash

Note 1

Summary of Significant Accounting Policies, Continued

expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements.

If the carrying value of the reporting unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting

unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value

to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference.

Environmental and Other Contingencies

The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million in Fiscal 2013, $1.8 million in Fiscal 2012 and $2.9 million in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s reserves and accruals, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its reserve in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional reserves, that some or all reserves will be adequate or that the amounts of any such additional reserves or any such inadequacy will not have a material adverse effect upon the Company’s financial condition, cash flows, or results of operations. See also Notes 3 and 8.

Revenue Recognition

Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at estimated time of delivery to the customer and are net of estimated returns and exclude sales and value added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience.

Note 1

Summary of Significant Accounting Policies, Continued

Income Taxes

As part of the process of preparing Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating actual current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Consolidated Balance Sheets. The Company then assesses the likelihood that its deferred tax assets will be recovered from future taxable income. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances

are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At February 2, 2013, the Company had a deferred tax valuation allowance of $3.5 million.

Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification ("Codification"). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results.

The Company recorded an effective income tax rate of 31.9% for Fiscal 2013 compared to 40.2% for 2012. This year's tax rate is lower primarily due to the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions. The Company recorded an effective federal income tax rate of 40.2% for Fiscal 2012 compared to 35.8% for Fiscal 2011. Fiscal 2012's higher effective tax rate of 40.2% reflects transaction costs and deferred purchase price related to the Schuh acquisition, which are considered permanent differences. Fiscal 2011's lower effective tax rate of 35.8% reflects the net reduction of the Company’s liability for uncertain tax positions of $1.3 million in Fiscal 2011.

Note 1

Summary of Significant Accounting Policies, Continued

Postretirement Benefits Plan Accounting

Full-time employees who had at least 1,000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with limited medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act.

As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in their Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur.

The Company accounts for the defined benefit pension plans using the Compensation-Retirement Benefits Topic of the Codification. As permitted under this topic, pension expense is recognized on an accrual basis over employees’ approximate service periods. The calculation of pension expense

and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions.

Share-Based Compensation

The Company has share-based compensation plans covering certain members of management and non-employee directors. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification. For Fiscal 2013, 2012 and 2011, share-based compensation expense was $0, less than $1,000 and $0.2 million, respectively. The Company has not issued any new stock option awards since the first quarter of Fiscal 2008. For Fiscal 2013, 2012 and 2011, restricted stock expense was $10.5 million, $7.7 million, and $7.8 million, respectively. The fair value of employee restricted stock is determined based on the closing price of the Company’s stock on the date of the grant. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.

Cash and Cash Equivalents

Included in cash and cash equivalents at February 2, 2013 and January 28, 2012 are cash equivalents of $0.2 million for each year. Cash equivalents are highly-liquid financial instruments having an original maturity of three months or less. At February 2, 2013, substantially all of the Company’s domestic cash was invested in deposit accounts at FDIC-insured banks. The majority of payments due from banks for domestic customer credit card transactions process within 24 - 48 hours and are accordingly classified as cash and cash equivalents.

Note 1

Summary of Significant Accounting Policies, Continued

At February 2, 2013 and January 28, 2012, outstanding checks drawn on zero-balance accounts at certain domestic banks exceeded book cash balances at those banks by approximately $36.1 million and $39.0 million, respectively. These amounts are included in accounts payable.

Concentration of Credit Risk and Allowances on Accounts Receivable

The Company’s footwear wholesale businesses sell primarily to independent retailers and department stores across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer specific factors. The Company’s Lids Team Sports wholesale business sells primarily to colleges and high school athletic teams and their fan bases. Including both footwear wholesale and Lids Team Sports wholesale business receivables, two customers each accounted for 7% of the Company’s total trade receivables balance, while no other customer accounted for more than 6% of the Company’s total trade receivables balance as of February 2, 2013.

The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information, as well as customer specific factors. The Company also establishes allowances for sales returns, customer deductions and co-op advertising based on specific circumstances, historical trends and projected probable outcomes.

Property and Equipment

Property and equipment are recorded at cost and depreciated or amortized over the estimated useful life of related assets. Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives:

Buildings and building equipment	20-45 years
Computer hardware, software and equipment	3-10 years
Furniture and fixtures	10 years

Leases

Leasehold improvements and properties under capital leases are amortized on the straight-line method over the shorter of their useful lives or their related lease terms and the charge to earnings is included in selling and administrative expenses in the Consolidated Statements of Operations.

Certain leases include rent increases during the initial lease term. For these leases, the Company recognizes the related rental expense on a straight-line basis over the term of the lease (which

includes any rent holidays and the pre-opening period of construction, renovation, fixturing and merchandise placement) and records the difference between the amounts charged to operations and amounts paid as deferred rent.

The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are amortized as a reduction of rent expense over the initial lease term.

Note 1

Summary of Significant Accounting Policies, Continued

Goodwill and Other Intangibles

Under the provisions of the Intangibles – Goodwill and Other Topic of the Codification, goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually, during the fourth quarter, for impairment. The Company will update the tests between annual tests if events or

circumstances occur that would more likely than not reduce the fair value of the business unit with which the goodwill is associated below its carrying amount. It is also required that intangible assets with finite lives be amortized over their respective lives to their estimated residual values, and reviewed for impairment in accordance with the Property, Plant and Equipment Topic of the Codification.

Intangible assets of the Company with indefinite lives are primarily goodwill and identifiable trademarks, net of amortization, acquired in connection with the acquisition of Schuh Group Ltd. in June 2011 and Hat World Corporation in April 2004. The Consolidated Balance Sheets include goodwill of $172.3 million for the Lids Sports Group, $100.7 million for the Schuh Group and $0.8 million for Licensed Brands at February 2, 2013 and $159.1 million for the Lids Sports Group, $99.9 million for the Schuh Group and $0.8 million for Licensed Brands at January 28, 2012. The Company tests for impairment of intangible assets with an indefinite life, relying on a number of factors including operating results, business plans, projected future cash flows and observable market data. The impairment test for identifiable assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying amount. The Company has not recorded an impairment charge for intangible assets.

In connection with acquisitions, the Company records goodwill on its Consolidated Financial Statements. This asset is not amortized but is subject to an impairment test at least annually, based on projected future cash flows from the acquired business discounted at a rate commensurate with the risk the Company considers to be inherent in its current business model. The Company performs the impairment test annually as of the close of its fiscal year, or more frequently if events or circumstances indicate that the value of the asset might be impaired.

As a result of the various acquisitions comprising the Lids Team Sports team dealer business, the Company carries goodwill at a value of $14.0 million on its Consolidated Balance Sheets related to such acquisitions. The Company found that the result of its annual impairment test, which valued the business at approximately $2.8 million in excess of its carrying value, indicated no impairment at that time. The Company may determine in future impairment tests that some or all of the carrying value of the goodwill may not be recoverable. Such a finding would require a write-off of the amount of the carrying value that is impaired, which would reduce the Company's profitability in the period of the impairment charge. Holding all other assumptions constant as of the measurement date, the Company noted that an increase in the weighted average cost of capital of 100 basis points would reduce the fair value of the Lids Team Sports business by $7.4 million. Furthermore, the Company noted that a decrease in projected annual revenue growth by one percent would reduce the fair value of the Lids Team Sports business by $0.4 million. However, if other assumptions do not remain constant, the fair value of the Lids Team Sports business may decrease by a greater amount.

Note 1

Summary of Significant Accounting Policies, Continued

Identifiable intangible assets of the Company with finite lives are trademarks, customer lists, in-place leases, non-compete agreements and a vendor contract. They are subject to amortization based upon

their estimated useful lives. Finite-lived intangible assets are evaluated for impairment using a process similar to that used to evaluate other definite-lived long-lived assets, a comparison of the fair value of the intangible asset with its carrying amount. An impairment loss is recognized for the amount

by which the carrying value exceeds the fair value of the asset.

Fair Value of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments at February 2, 2013 and January 28, 2012 are:

In thousands	February 2, 2013		January 28, 2012
	Carrying Amount	Fair Value	Carrying Amount		Fair Value
U.S. Revolver Borrowings	27,700	27,742	$	5,000	5,021
UK Term Loans	22,982	22,982	35,704		35,387

Debt fair values were determined using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 as defined in Note 5.

Carrying amounts reported on the Consolidated Balance Sheets for cash, cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these instruments.

Cost of Sales

For the Company’s retail operations, the cost of sales includes actual product cost, the cost of transportation to the Company’s warehouses from suppliers and the cost of transportation from the Company’s warehouses to the stores. Additionally, the cost of its distribution facilities allocated to its retail operations is included in cost of sales.

For the Company’s wholesale operations, the cost of sales includes the actual product cost and the cost of transportation to the Company’s warehouses from suppliers.

Selling and Administrative Expenses

Selling and administrative expenses include all operating costs of the Company excluding (i) those related to the transportation of products from the supplier to the warehouse, (ii) for its retail operations, those related to the transportation of products from the warehouse to the store and (iii) costs of its distribution facilities which are allocated to its retail operations. Wholesale and unallocated retail costs of distribution are included in selling and administrative expenses in the amounts of $8.2 million, $9.2 million and $5.9 million for Fiscal 2013, 2012 and 2011, respectively.

Note 1

Summary of Significant Accounting Policies, Continued

Gift Cards

The Company has a gift card program that began in calendar 1999 for its Lids Sports operations and calendar 2000 for its footwear operations. The gift cards issued to date do not expire. As such, the Company recognizes income when: (i) the gift card is redeemed by the customer; or (ii) the likelihood of the gift card being redeemed by the customer for the purchase of goods in the future is remote and there are no related escheat laws (referred to as “breakage”). The gift card breakage rate is based

upon historical redemption patterns and income is recognized for unredeemed gift cards in proportion to those historical redemption patterns.

Gift card breakage is recognized in revenues each period. Gift card breakage recognized as revenue was $0.7 million, $0.6 million and $0.7 million for Fiscal 2013, 2012 and 2011, respectively. The Consolidated Balance Sheets include an accrued liability for gift cards of $13.1 million and $10.4 million at February 2, 2013 and January 28, 2012, respectively.

Buying, Merchandising and Occupancy Costs

The Company records buying, merchandising and occupancy costs in selling and administrative expense. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin.

Shipping and Handling Costs

Shipping and handling costs related to inventory purchased from suppliers are included in the cost of inventory and are charged to cost of sales in the period that the inventory is sold. All other shipping and handling costs are charged to cost of sales in the period incurred except for wholesale and unallocated retail costs of distribution, which are included in selling and administrative expenses.

Preopening Costs

Costs associated with the opening of new stores are expensed as incurred, and are included in selling and administrative expenses on the accompanying Consolidated Statements of Operations.

Store Closings and Exit Costs

From time to time, the Company makes strategic decisions to close stores or exit locations or activities. If stores or operating activities to be closed or exited constitute components, as defined by the Property, Plant and Equipment Topic of the Codification, and will not result in a migration of customers and cash flows, these closures will be considered discontinued operations when the related assets meet the criteria to be classified as held for sale, or at the cease-use date, whichever occurs first. The results of operations of discontinued operations are presented retroactively, net of tax, as a separate component on the Consolidated Statements of Operations, if material individually or cumulatively. In Fiscal 2013, no store closings meeting the discontinued operations criteria have been material individually or cumulatively.

Note 1

Summary of Significant Accounting Policies, Continued

Assets related to planned store closures or other exit activities are reflected as assets held for sale and recorded at the lower of carrying value or fair value less costs to sell when the required criteria, as defined by the Property, Plant and Equipment Topic of the Codification, are satisfied. Depreciation ceases on the date that the held for sale criteria are met.

Assets related to planned store closures or other exit activities that do not meet the criteria to be classified as held for sale are evaluated for impairment in accordance with the Company’s normal impairment policy, but with consideration given to revised estimates of future cash flows. In any event, the remaining depreciable useful lives are evaluated and adjusted as necessary.

Exit costs related to anticipated lease termination costs, severance benefits and other expected charges are accrued for and recognized in accordance with the Exit or Disposal Cost Obligations Topic of the Codification.

Advertising Costs

Advertising costs are predominantly expensed as incurred. Advertising costs were $48.3 million, $42.5 million and $35.1 million for Fiscal 2013, 2012 and 2011, respectively. Direct response advertising costs for catalogs are capitalized in accordance with the Other Assets and Deferred Costs Topic for Capitalized Advertising Costs of the Codification. Such costs are amortized over the estimated future period as revenues are realized from such advertising, not to exceed six months.

The Consolidated Balance Sheets include prepaid assets for direct response advertising costs of $1.4 million and $1.1 million at February 2, 2013 and January 28, 2012.

Consideration to Resellers

The Company does not have any written buy-down programs with retailers, but the Company has provided certain retailers with markdown allowances for obsolete and slow moving products that are in the retailer’s inventory. The Company estimates these allowances and provides for them as reductions to revenues at the time revenues are recorded. Markdowns are negotiated with retailers and changes are made to the estimates as agreements are reached. Actual amounts for markdowns have not differed materially from estimates.

Cooperative Advertising

Cooperative advertising funds are made available to most of the Company’s wholesale footwear customers. In order for retailers to receive reimbursement under such programs, the retailer must meet specified advertising guidelines and provide appropriate documentation of expenses to be reimbursed. The Company’s cooperative advertising agreements require that wholesale customers present documentation or other evidence of specific advertisements or display materials used for the Company’s products by submitting the actual print advertisements presented in catalogs, newspaper inserts or other advertising circulars, or by permitting physical inspection of displays. Additionally, the Company’s cooperative advertising agreements require that the amount of reimbursement requested for such advertising or materials be supported by invoices or other evidence of the actual costs incurred by the

Note 1

Summary of Significant Accounting Policies, Continued

retailer. The Company accounts for these cooperative advertising costs as selling and administrative expenses, in accordance with the Revenue Recognition Topic for Customer Payments and Incentives of the Codification.

Cooperative advertising costs recognized in selling and administrative expenses were $3.5 million, $3.3 million and $3.2 million for Fiscal 2013, 2012 and 2011, respectively. During Fiscal 2013, 2012 and 2011, the Company’s cooperative advertising reimbursements paid did not exceed the fair value of the benefits received under those agreements.

Vendor Allowances

From time to time, the Company negotiates allowances from its vendors for markdowns taken or expected to be taken. These markdowns are typically negotiated on specific merchandise and for specific amounts. These specific allowances are recognized as a reduction in cost of sales in the

period in which the markdowns are taken. Markdown allowances not attached to specific inventory on hand or already sold are applied to concurrent or future purchases from each respective vendor.

The Company receives support from some of its vendors in the form of reimbursements for cooperative advertising and catalog costs for the launch and promotion of certain products. The reimbursements are agreed upon with vendors and represent specific, incremental, identifiable costs incurred by the Company in selling the vendor’s specific products. Such costs and the related reimbursements are accumulated and monitored on an individual vendor basis, pursuant to the respective cooperative advertising agreements with vendors. Such cooperative advertising reimbursements are recorded as a reduction of selling and administrative expenses in the same period in which the associated expense is incurred. If the amount of cash consideration received exceeds the costs being reimbursed, such excess amount would be recorded as a reduction of cost of sales.

Vendor reimbursements of cooperative advertising costs recognized as a reduction of selling and administrative expenses were $3.8 million, $3.0 million and $3.1 million for Fiscal 2013, 2012 and 2011, respectively. During Fiscal 2013, 2012 and 2011, the Company’s cooperative advertising reimbursements received were not in excess of the costs incurred.

Environmental Costs

Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated and are evaluated independently of any future claims for recovery. Generally, the timing of these accruals coincides with completion of a feasibility study or the Company's commitment to a formal plan of action. Costs of future expenditures for environmental remediation obligations are not discounted to their present value.

Note 1

Summary of Significant Accounting Policies, Continued

Earnings Per Common Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities to issue common stock were exercised or converted to common stock (see Note 11).

Other Comprehensive Income

The Comprehensive Income Topic of the Codification requires, among other things, the Company’s pension liability adjustment, postretirement liability adjustment, unrealized gains or losses on foreign currency forward contracts and foreign currency translation adjustments to be included in other comprehensive income net of tax. Accumulated other comprehensive loss at February 2, 2013 consisted of $26.0 million of cumulative pension liability adjustment, net of tax, a cumulative post retirement liability adjustment of $0.3 million, net of tax, and a cumulative foreign currency translation adjustment of $1.9 million.

Business Segments

The Segment Reporting Topic of the Codification requires that companies disclose “operating segments” based on the way management disaggregates the Company’s operations for making internal operating decisions (see Note 14).

Derivative Instruments and Hedging Activities

The Derivatives and Hedging Topic of the Codification requires an entity to recognize all derivatives as either assets or liabilities in the Consolidated Balance Sheet and to measure those instruments at fair value. Under certain conditions, a derivative may be specifically designated as a fair value hedge or a cash flow hedge. The accounting for changes in the fair value of a derivative are recorded each period in current earnings or in other comprehensive income depending on the intended use of the derivative and the resulting designation. In prior periods, the Company entered into a small amount of foreign currency forward exchange contracts in order to reduce exposure to foreign currency exchange rate fluctuations in connection with inventory purchase commitments for its Johnston & Murphy Group.

There were no such contracts outstanding at February 2, 2013 or January 28, 2012. For the year ended February 2, 2013, the Company recorded an unrealized gain on foreign currency forward contracts of less than $0.1 million in accumulated other comprehensive loss, before taxes. The Company monitors the credit quality of the major international, national and regional financial institutions with which it enters into such contracts.

Note 1

Summary of Significant Accounting Policies, Continued

New Accounting Principles

In June 2011, FASB issued Accounting Standards Update No. 2011-05, an update to the FASB Codification Comprehensive Income Topic, which amends the existing accounting standards related to the presentation of comprehensive income in a company's financial statements. This update requires that all non-owner changes in shareholders' equity be presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two statement approach, the first statement would present total net earnings and its components followed consecutively by a second statement that should present total other comprehensive income, the components of other comprehensive income and the total of comprehensive income. The update does not change the items that must be reported in other comprehensive income and must be applied retrospectively for all periods presented in the Consolidated Financial Statements. The Company adopted this update in the first quarter of Fiscal 2013 and has included a separate statement of comprehensive income in its Consolidated Financial Statements. The adoption did not have a significant impact on the Company’s results of operations or financial position.

XML

Equity (Details Textual) (USD $)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011	Jan. 30, 2010
Equity (Textual) [Abstract]
Expiration date of rights	Mar. 01, 2020
Redeemable price per right (USD per share)	$ 0.01
Number of common stock	1
Common stock, par value (USD per share)	$ 1	$ 1
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	24,484,915	24,757,826
Shares held in treasury	488,464	488,464
Number of Vote for each outstanding Share	1
Common shares reserved	313,438
Common stock issued for exercise of stock options	223,618	390,357	118,450
Weighted average exercise price of common stock	$ 21.50	$ 24.82	$ 18.77
Weighted average market price of common stock issued under stock option (USD per share)	$ 63.84	$ 48.95	$ 28.39
Weighted average price of common stock retired and repurchase (USD per share)	$ 58.29		$ 28.74
Exercise of stock options	$ 4,808,000	$ 9,687,000	$ 2,223,000
Issue shares - Employee Stock Purchase Plan	157,000	133,000	120,000
Number of common stock issued to directors for no consideration	10,224	14,643	17,838
Common stock withheld for taxes on restricted stock vested	75,552	93,089	81,731
Numerator Pro-forma fixed charge coverage ratio	1.0
Denominator Pro-forma fixed charge coverage ratio	1.0
Aggregate dividend declared for fiscal year 2011	100,000
Subordinated Serial Preferred Stock $2.30 Series 1 [Member]
Equity (Textual) [Abstract]
Preferred stock, dividend rate	$ 2.30
Preferred stock stated and redemption values over accumulated dividends	$ 40
Preferred stock liquidation values over accumulated dividends	$ 40
Common stock issued in conversion of debentures	22,028	5,238	1,501
Subordinated Serial Preferred Stock $4.75 Series 3 [Member]
Equity (Textual) [Abstract]
Preferred stock, dividend rate	$ 4.75
Preferred stock stated and redemption values over accumulated dividends	$ 100
Preferred stock liquidation values over accumulated dividends	$ 100
Subordinated Serial Preferred Stock $4.75 Series 4 [Member]
Equity (Textual) [Abstract]
Preferred stock, dividend rate	$ 4.75
Non-Redeemable Preferred Stock [Member]
Equity (Textual) [Abstract]
Tender offer for outstanding common stock	15.00%
Shares held in treasury	0
Common stock issued for exercise of stock options	0	0	0
Issue shares - Employee Stock Purchase Plan	0	0	0
$1.50 Subordinated Cumulative Preferred Stock [Member]
Equity (Textual) [Abstract]
Preferred stock, dividend rate	$ 1.50
Preferred stock stated and redemption values over accumulated dividends	$ 1.50
Multiplication value to Quarterly dividend per share of common stock for calculation of Stated and liquidation values and redemption price	8800.00%
Stated and liquidation values and redemption price per share dividend paid on common stock plus accumulated dividends	$ 30
Employees Subordinated Convertible Preferred Stock [Member]
Equity (Textual) [Abstract]
Multiplication value to Quarterly dividend per share of common stock for calculation of Stated and liquidation values and redemption price	8800.00%
Stated and liquidation values and redemption price per share dividend paid on common stock plus accumulated dividends	$ 30
Common Stock [Member]
Equity (Textual) [Abstract]
Common stock, shares issued	24,484,915	24,757,826	24,162,634	24,562,693
Shares held in treasury	488,464
Common stock issued for exercise of stock options	223,618	390,357	118,450
Exercise of stock options	4,800,000	9,700,000	2,200,000
Issue shares - Employee Stock Purchase Plan	2,463	2,717	4,230
Restricted stock forfeited during the year	4,020	14,081	1,575
Common stock shares repurchased and retired	645,904		863,767
Common stock value repurchased and retired	$ 37,600,000		$ 24,800,000
Conversion Of Preferred Stock [Member]
Equity (Textual) [Abstract]
Common shares reserved	80,848
Maximum [Member]
Equity (Textual) [Abstract]
Percentage loan cap	50.00%
Minimum [Member]
Equity (Textual) [Abstract]
Percentage loan cap	20.00%
Minimum percentage loan cap	50.00%
1996 Stock Incentive Plan [Member]
Equity (Textual) [Abstract]
Common shares reserved	186,835
2005 Stock Incentive Plan [Member]
Equity (Textual) [Abstract]
Common shares reserved	76,320
2009 Stock Incentive Plan [Member]
Equity (Textual) [Abstract]
Common shares reserved	1,585,443
2009 Equity Incentive Plan [Member]
Equity (Textual) [Abstract]
Common stock issued as restricted shares	194,232	289,407	404,995

XML

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Goodwill and Other Intangibles (Details Textual) (USD $)	Feb. 02, 2013	Jan. 28, 2012
Segment Reporting Information [Line Items]
Goodwill	$ 273,827,000	$ 259,759,000
Lids Sports Group [Member]
Segment Reporting Information [Line Items]
Goodwill	172,300,000	159,100,000
Schuh Group [Member]
Segment Reporting Information [Line Items]
Goodwill	100,700,000	99,900,000
Licensed Brands [Member]
Segment Reporting Information [Line Items]
Goodwill	800,000	800,000
Lids Teams Sports [Member]
Segment Reporting Information [Line Items]
Goodwill	14,000,000
Goodwill impairment analysis, fair value in excess of carrying value	2,800,000
Amount of reduction in fair value pending increases of 100 basis points in weighted average cost of capital	7,400,000
Amount of reduction in fair value pending decrease of 100 basis points in projected annual revenues	$ 400,000

XML

Inventories (Tables)

12 Months Ended

Feb. 02, 2013

Inventory Disclosure [Abstract]

Inventories

In thousands	February 2, 2013		January 28, 2012
Raw materials	$	24,223	$	30,636
Wholesale finished goods	57,161		53,453
Retail merchandise	423,960		351,024
Total Inventories	$	505,344	$	435,113

XML

Asset Impairments and Other Charges and Discontinued Operations (Tables)

12 Months Ended

Feb. 02, 2013

Restructuring and Other Charges and Discontinued Operations [Abstract]

Accrued Provision for Discontinued Operations

Accrued Provision for Discontinued Operations
In thousands	Facility Shutdown Costs
Balance January 29, 2011	$	15,035
Additional provision Fiscal 2012	1,692
Charges and adjustments, net	(4,210		)
Balance January 28, 2012	12,517
Additional provision Fiscal 2013	796
Charges and adjustments, net	(1,962		)
Balance February 2, 2013*	11,351
Current provision for discontinued operations	7,192
Total Noncurrent Provision forDiscontinued Operations	$	4,159

*Includes a $11.9 million environmental provision, including $7.7 million in current provision for discontinued operations.

XML

Long-Term Debt (Details Textual)			12 Months Ended										12 Months Ended																										12 Months Ended
	Feb. 02, 2013 USD ($)	Jan. 28, 2012 USD ($)	Feb. 02, 2013 Revolving Credit Facility [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Credit Facility [Member] USD ($)	Feb. 02, 2013 Revolving Credit Facility [Member] Amended Credit Facility [Member] USD ($)	Jun. 23, 2011 Revolving Credit Facility [Member] Amended Credit Facility [Member] USD ($)	Jun. 22, 2011 Revolving Credit Facility [Member] Amended Credit Facility [Member] USD ($)	Feb. 02, 2013 Revolving Credit Facility [Member] Amended Credit Facility [Member] Genesco Uk Limited [Member]	Jun. 23, 2011 Revolving Credit Facility [Member] Amended Credit Facility [Member] Swingline Loan [Member] USD ($)	Jun. 23, 2011 Revolving Credit Facility [Member] Amended Credit Facility [Member] Standby Letters of Credit [Member] USD ($)	Jun. 23, 2011 Revolving Credit Facility [Member] Amended Credit Facility [Member] Canadian Sub Facility [Member] USD ($)	Jun. 23, 2011 Revolving Credit Facility [Member] Amended Credit Facility [Member] Tranche One [Member] USD ($)	Feb. 02, 2013 Revolving Credit Facility [Member] Domestic Facility [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Domestic Facility [Member] London Interbank Offered Rate (LIBOR) [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Domestic Facility [Member] Prime Rate, Bank of America [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Domestic Facility [Member] Federal Funds Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Domestic Facility [Member] London Interbank Offered Rate (LIBOR), 30-Day LIBOR [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] London Interbank Offered Rate (LIBOR) [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Federal Funds Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] London Interbank Offered Rate (LIBOR), 30-Day LIBOR [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Bankers Acceptances Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] U.S. Index Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Base Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Canadian Prime Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Canadian Prime Rate, Bank of America [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Canadian Overnight Rate, Bank of America [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Canadian Sub Facility [Member] Bankers Acceptances Rate, 30-Day BA Rate [Member]	Feb. 02, 2013 Revolving Credit Facility [Member] Uk Credit Facility [Member] Schuh Group [Member]	Feb. 02, 2013 Revolver Borrowings [Member] USD ($)	Jan. 28, 2012 Revolver Borrowings [Member] USD ($)	Feb. 02, 2013 Revolver Borrowings [Member] Uk Term Loans [Member] USD ($)	Feb. 02, 2013 Revolver Borrowings [Member] Amended Credit Facility [Member] USD ($)	Feb. 02, 2013 Revolver Borrowings [Member] Amended Credit Facility [Member] Letter of Credit [Member] USD ($)	Feb. 02, 2013 Loans Payable [Member] USD ($)	Jan. 28, 2012 Loans Payable [Member] USD ($)	Feb. 02, 2013 Loans Payable [Member] Uk Credit Facility [Member] Schuh Group [Member] GBP (£)	Feb. 02, 2013 Loans Payable [Member] Uk Credit Facility [Member] Term Loan A [Member] Schuh Group [Member] GBP (£)	Feb. 02, 2013 Loans Payable [Member] Uk Credit Facility [Member] Term Loan A [Member] London Interbank Offered Rate (LIBOR) [Member] Schuh Group [Member]	Feb. 02, 2013 Loans Payable [Member] Uk Credit Facility [Member] Term Loan B [Member] Schuh Group [Member] GBP (£)	Jan. 28, 2012 Loans Payable [Member] Uk Credit Facility [Member] Term Loan B [Member] Schuh Group [Member] GBP (£)	Feb. 02, 2013 Loans Payable [Member] Uk Credit Facility [Member] Term Loan B [Member] London Interbank Offered Rate (LIBOR) [Member] Schuh Group [Member]	Feb. 02, 2013 Secured Debt [Member] Uk Credit Facility [Member] Working Capital Facility [Member] Schuh Group [Member] GBP (£)
Long-Term Debt (Textual) [Abstract]
Long-term debt maturing in year one	$ 5,700,000
Long-term debt maturing in year two	5,500,000
Long-term debt maturing in year three	39,500,000
Long-term debt maturing in year four	0
Long-term debt maturing in year five	0
Initiation date of second amended and restated credit agreement					Jun. 23, 2011
Aggregate principal amount of credit facility						375,000,000	300,000,000		40,000,000	70,000,000	8,000,000	30,000,000																									29,500,000	15,500,000		14,000,000			5,000,000
Expiration date of second amended and restated credit agreement					Jan. 21, 2016
Capitalized deferred financing costs of credit facility and amendment				3,000,000	700,000
Amortization period of deferred financing costs for credit facility and amendment				5 years	5 years
Long-term debt	50,682,000	40,704,000																												27,700,000	5,000,000	23,000,000	27,700,000		22,982,000	35,704,000
Outstanding letters of credit																																		12,300,000
Term of debt instrument					5 years
Increase in availability under credit facility					75,000,000
Aggregate amount of loans and letters of credit subject to receipt of commitment					450,000,000
Components of borrowing base					90% of eligible inventory plus 85% of eligible wholesale receivables (50% of eligible wholesale receivables of the Lids Team Sports business) plus 90% of eligible credit card and debit card receivables less applicable reserves
Prime rate description																		Canadian Prime Rate (defined as the highest of the (i) Bank of America Canadian Prime Rate, (ii) 0.50% plus the Bank of America (Canadian) overnight rate, and (iii) 1.0% plus the BA rate for a 30 day interest period) plus the applicable margin for loans made in U.S. dollars, LIBOR plus the applicable margin or the U.S. Index Rate (defined as the highest of the (i) Bank of America (Canada branch) U.S. dollar base rate, (ii) the Federal Funds rate plus 0.50%, and (iii) LIBOR for an interest period of thirty days plus 1.0%) plus the applicable margin
Borrowing base based upon percentage of eligible inventory					90.00%
Borrowing base based upon percentage of eligible wholesale receivables					85.00%
Eligible wholesale receivables percentage of Lids team sports business					50.00%
Borrowing base percentage of eligible credit card and debit card receivables less applicable reserves					90.00%
Percentage of shares pledged by company								65.00%
Description of variable rate														LIBOR	Bank of America prime rate	federal funds rate	LIBOR for an interest period of thirty days		LIBOR	Federal Funds rate	LIBOR for an interest period of thirty days	bankers’ acceptances (“BA”) rate	U.S. Index Rate	Bank of America (Canada branch) U.S. dollar base rate	Canadian Prime Rate	Bank of America Canadian Prime Rate	Bank of America (Canadian) overnight rate	BA rate for a 30 day interest period											LIBOR			LIBOR
Basis spread on variable rate																0.50%	1.00%			0.50%	1.00%						0.50%	1.00%											2.50%			3.75%
Applicable margin plus higher of condition one					Federal Funds rate plus 0.50%
Applicable margin plus higher of condition two					LIBOR for an interest period of thirty days plus 1.0%
Initial applicable margin for base rate loans and U.S. Index rate loans													1.25%
Initial applicable margin for LIBOR loans and BA equivalent loans													2.25%
Commitment fee on the actual daily unused portions of the credit facility one			0.50%
Commitment fee on the actual daily unused portions of the credit facility two			0.375%
Commitment fee on the actual daily unused portions of the credit facility condition one					0.50% per annum if less than 50% of the Credit Facility has been utilized
Commitment fee on the actual daily unused portions of the credit facility condition two					0.375% per annum if 50% or more of the Credit Facility has been utilized
Percentage which define credit facility utilization			50.00%
Financial covenants, Excess Availability threshold					27,500,000
Financial covenants, Excess Availability threshold percentage					12.50%
Covenants for fixed charge coverage ratio					not less than 1.0:1.0
Minimum fixed charge coverage ratio					1
Excess availability under credit facility					292,800,000
Amended amount on senior debt covenant					250,000,000
Financial covenants, Excess Availability threshold for cash dominion					35,000,000
Financial covenants, Excess Availability threshold percentage for cash dominion					15.00%
Payment on the term loan (in GBP)																																								£ 4,800,000	£ 4,500,000
Interest coverage covenant minimum level																													4.25
Interest coverage covenant maximum level																													4.50
Leverage covenant minimum level																													2.25
Leverage covenant maximum level																													2.75
Cash flow coverage covenant minimum level																													1.10

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Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Carrying amounts and fair values of the Company's financial instruments
Carrying Amount	$ 50,682	$ 40,704
UK Term Loans [Member]
Carrying amounts and fair values of the Company's financial instruments
Carrying Amount	22,982	35,704
Fair Value	22,982	35,387
Revolver Borrowings [Member]
Carrying amounts and fair values of the Company's financial instruments
Carrying Amount	27,700	5,000
Fair Value	$ 27,742	$ 5,021

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Fair Value (Tables)

12 Months Ended

Feb. 02, 2013

Fair Value Disclosures [Abstract]

Company's assets and liabilities measured at fair value on a nonrecurring basis

The following table presents the Company’s assets and liabilities measured at fair value on a nonrecurring basis as of February 2, 2013 aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands):

	Long-Lived Assets Held and Used		Level 1		Level 2		Level 3		Impairment Charges
Measured as of April 28, 2012	$	47	$	—	$	—	$	47	$	46
Measured as of July 28, 2012	$	54	$	—	$	—	$	54	$	391
Measured as of October 27, 2012	$	211	$	—	$	—	$	211	$	283
Measured as of February 2, 2013	$	131	$	—	$	—	$	131	$	676

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Long-Term Debt (Tables)

12 Months Ended

Feb. 02, 2013

Debt Disclosure [Abstract]

Long-Term Debt

In thousands	February 2, 2013		January 28, 2012
Revolver borrowings	$	27,700	$	5,000
UK term loans	22,982		35,704
Total long-term debt	50,682		40,704
Current portion	5,675		8,773
Total Noncurrent Portion of Long-Term Debt	$	45,007	$	31,931

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Consolidated Statements of Equity (USD $) In Thousands, unless otherwise specified	Total		Total Non-Redeemable Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income Loss	Treasury Shares	Noncontrolling Interest Non-Redeemable
Beginning balance at Jan. 30, 2010	$ 582,313		$ 5,220	$ 24,563	$ 146,981	$ 452,210	$ (28,804)	$ (17,857)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	53,211		0	0	0	53,211	0	0	0
Other comprehensive income (loss)	4,499		0	0	0	0	4,499	0	0
Dividends paid on non-redeemable preferred stock	(197)		0	0	0	(197)	0	0	0
Exercise of stock options	2,223		0	118	2,105	0	0	0	0
Issue shares - Employee Stock Purchase Plan	120		0	4	116	0	0	0	0
Employee and non-employee restricted stock	7,796		0	0	7,796	0	0	0	0
Share-based compensation	210		0	0	210	0	0	0	0
Restricted stock issuance	0		0	423	(423)	0	0	0	0
Restricted shares withheld for taxes	(2,375)		0	(82)	(2,293)	0	0	0	0
Tax benefit of stock options and restricted stock exercised	1,342		0	0	1,342	0	0	0	0
Shares repurchased	(24,825)		0	(864)	(23,961)	0	0	0	0
Other	1		(37)	1	37	0	0	0	0
Noncontrolling interest – loss	2,503		0	0	0	0	0	0	2,503
Ending balance at Jan. 29, 2011	626,821		5,183	24,163	131,910	505,224	(24,305)	(17,857)	2,503
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	81,959		0	0	0	81,959	0	0	0
Other comprehensive income (loss)	(8,661)		0	0	0	0	(8,661)	0	0
Dividends paid on non-redeemable preferred stock	(193)		0	0	0	(193)	0	0	0
Exercise of stock options	9,687		0	390	9,297	0	0	0	0
Issue shares - Employee Stock Purchase Plan	133		0	3	130	0	0	0	0
Employee and non-employee restricted stock	7,659		0	0	7,659	0	0	0	0
Share-based compensation	1		0	0	1	0	0	0	0
Restricted stock issuance	0		0	304	(304)	0	0	0	0
Restricted shares withheld for taxes	(4,127)		0	(93)	(4,034)	0	0	0	0
Tax benefit of stock options and restricted stock exercised	4,585		0	0	4,585	0	0	0	0
Other	0		(226)	(9)	235	0	0	0	0
Noncontrolling interest – loss	(254)		0	0	0	0	0	0	(254)
Ending balance at Jan. 28, 2012	717,610		4,957	24,758	149,479	586,990	(32,966)	(17,857)	2,249
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	110,536	[1]	0	0	0	110,536	0	0	0
Other comprehensive income (loss)	4,725		0	0	0	0	4,725	0	0
Dividends paid on non-redeemable preferred stock	(147)		0	0	0	(147)	0	0	0
Exercise of stock options	4,808		0	224	4,584	0	0	0	0
Issue shares - Employee Stock Purchase Plan	157		0	2	155	0	0	0	0
Employee and non-employee restricted stock	10,508		0	0	10,508	0	0	0	0
Restricted stock issuance	0		0	194	(194)	0	0	0	0
Restricted shares withheld for taxes	(4,531)		0	(76)	0	(4,455)	0	0	0
Tax benefit of stock options and restricted stock exercised	4,820		0	0	4,820	0	0	0	0
Shares repurchased	(37,650)		0	(646)	0	(37,004)	0	0	0
Other	4		(1,033)	29	1,008	0	0	0	0
Noncontrolling interest – loss	(322)		0	0	0	0	0	0	(322)
Ending balance at Feb. 02, 2013	$ 810,518		$ 3,924	$ 24,485	$ 170,360	$ 655,920	$ (28,241)	$ (17,857)	$ 1,927

[1] 53 week period vs. 52 weeks in prior period.

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Commitments Under Long-Term Leases (Tables)

12 Months Ended

Feb. 02, 2013

Leases [Abstract]

Rental expense under operating leases

Rental expense under operating leases of continuing operations was:

In thousands	2013			2012			2011
Minimum rentals	$	215,516		$	192,175		$	167,558
Contingent rentals	14,786			12,918			5,827
Sublease rentals	(667		)	(686		)	(642		)
Total Rental Expense	$	229,635		$	204,407		$	172,743

Minimum rental commitments payable in future years

Minimum rental commitments payable in future years are:

Fiscal Years	In thousands
2014	$	223,495
2015	210,019
2016	191,642
2017	159,488
2018	127,982
Later years	342,534
Total Minimum Rental Commitments	$	1,255,160

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Earnings Per Share (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended									12 Months Ended
	Feb. 02, 2013		Oct. 27, 2012	Jul. 28, 2012	Apr. 28, 2012	Jan. 28, 2012	Oct. 29, 2011	Jul. 30, 2011	Apr. 30, 2011	Feb. 02, 2013		Jan. 28, 2012		Jan. 29, 2011
Summary of basic and diluted earnings per share
Earnings from continuing operations, Income (Numerator)										$ 110,998		$ 82,984		$ 54,547
Less: Preferred stock dividends, Income (Numerator)										(147)		(193)		(197)
Basic EPS
Income available to common shareholders, Income (Numerator)										110,851		82,791		54,350
Income available to common shareholders, Shares (Denominator)										23,584		23,234		23,209
Income available to common shareholders (USD per share)										$ 4.70		$ 3.56		$ 2.34
Effect of Dilutive Securities
Options and restricted stock, Shares (Denominator)										372		511		431
Convertible preferred stock, Income (Numerator)										88	[1]	141	[1]	58	[1]
Convertible preferred stock, Shares (Denominator)										34	[1]	55	[1]	26	[1]
Employees' preferred stock, Shares (Denominator)										47	[2]	48	[2]	50	[2]
Diluted EPS
Income available to common shareholders plus assumed conversions, Income (Numerator)										$ 110,939		$ 82,932		$ 54,408
Income available to common shareholders plus assumed conversions, Shares (Denominator)										24,037		23,848		23,716
Continuing operations (USD per share)	$ 1.63	[3]	$ 1.71	$ 0.44	$ 0.86	$ 1.72	$ 1.09	$ 0.01	$ 0.63	$ 4.62	[4]	$ 3.48		$ 2.29

[1] The amount of the dividend on the convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings per share for Series 1, 3 and 4 preferred stocks for Fiscal 2013 and 2012. Therefore, conversion of these convertible preferred stocks were included in diluted earnings per share for Fiscal 2013 and 2012. The amount of the dividend on Series 3 convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings for Fiscal 2011. Therefore, conversion of Series 3 preferred shares were included in diluted earnings per share for Fiscal 2011. The amount of the dividend on Series 1 and Series 4 convertible preferred stock per common share obtainable on conversion of the preferred stock was higher than basic earnings for Fiscal 2011. Therefore, conversion of Series 1 and Series 4 preferred shares were not reflected in diluted earnings per share for Fiscal 2011 because it would have been antidilutive. The shares convertible to common stock for Series 1, 3 and 4 preferred stock would have been 13,502 and 15,575 and 4,920, respectively, as of February 2, 2013.

[2] The Company’s Employees’ Subordinated Convertible Preferred Stock is convertible one for one to the Company’s common stock. Because there are no dividends paid on this stock, these shares are assumed to be converted.

[3] 14 week period vs. 13 weeks in prior period.

[4] 53 week period vs. 52 weeks in prior period.

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Summary of Significant Accounting Policies (Details Textual) (USD $)	12 Months Ended
	Feb. 02, 2013 Store	Jan. 28, 2012	Jan. 29, 2011
Summary of Significant Accounting Policies (Textual) [Abstract]
Total number of retail stores operated by company	2,459
Weeks in fiscal year	P53W	P52W	P52W
Days in Fiscal Year	371 days	364 days	364 days
Pretax accruals for environmental contingencies included in provision for discontinued operations	$ 800,000	$ 1,800,000	$ 2,900,000
Deferred tax valuation allowance	3,541,000	3,790,000
Effective tax rate	31.88%	40.20%	35.80%
Decrease in Gross Tax Liability for Uncertain Tax Positions			1,300,000
Minimum number of hours of service of full time employees	1000 hours
Share-based compensation cost (less than $.01 million for 2011)	0	1,000	200,000
Restricted stock expense	10,500,000	7,700,000	7,800,000
Granted, Shares	194,232	289,407	404,995
Grant date fair value (USD per share)	$ 57.58	$ 45.14	$ 28.41
Cash equivalents	200,000	200,000
Payment processing duration, minimum	24 hours
Payment processing duration, maximum	48 hours
Excess of outstanding checks drawn on zero-balance accounts at domestic banks exceeded book cash balances	36,100,000	39,000,000
Tenant allowances	20,000,000	17,600,000
Deferred rent	37,900,000	35,200,000
Wholesale and unallocated retail costs of distribution	8,200,000	9,200,000	5,900,000
Gift card breakage recognized as revenue	700,000	600,000	700,000
Accrued liability for gift cards	13,100,000	10,400,000
Advertising costs	48,300,000	42,500,000	35,100,000
Prepaid Advertising	1,400,000	1,100,000
Cooperative advertising costs	3,500,000	3,300,000	3,200,000
Vendor reimbursements of cooperative advertising costs	3,800,000	3,000,000	3,100,000
Accumulated other comprehensive income pension liability adjustments	26,000,000
Accumulated other comprehensive income post retirement liability adjustment	300,000
Accumulated other comprehensive income, foreign currency translation adjustment	1,900,000
Unrealized gain on foreign currency forward accumulated other comprehensive loss, before taxes	$ 100,000

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Fair Value (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Oct. 27, 2012	Jul. 28, 2012	Apr. 28, 2012
Company's assets and liabilities measured at fair value on a nonrecurring basis
Impairment Charges	$ 676	$ 283	$ 391	$ 46
Estimate of Fair Value, [Member] | Fair Value Measurements Nonrecurring [Member]
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	131	211	54	47
Level 1 [Member] | Fair Value Measurements Nonrecurring [Member]
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	0	0	0	0
Level 2 [Member] | Fair Value Measurements Nonrecurring [Member]
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	0	0	0	0
Level 3 [Member] | Fair Value Measurements Nonrecurring [Member]
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	$ 131	$ 211	$ 54	$ 47

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Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 3) (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 119,126	$ 118,644
Accumulated benefit obligation	119,126	118,644
Fair value of plan assets	$ 98,612	$ 96,443

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013		Jan. 28, 2012
Current Assets
Cash and cash equivalents	$ 59,795		$ 53,790
Accounts receivable, net of allowances of $6,082 at February 2, 2013 and $6,900 at January 28, 2012	48,214		43,713
Inventories	505,344		435,113
Deferred income taxes	23,725		22,541
Prepaids and other current assets	45,193		40,155
Total current assets	682,271		595,312
Property and equipment:
Land	6,128		6,118
Buildings and building equipment	20,390		20,260
Computer hardware, software and equipment	120,757		116,920
Furniture and fixtures	148,903		127,949
Construction in progress	8,702		7,158
Improvements to leased property	318,376		299,775
Property and equipment, at cost	623,256		578,180
Accumulated depreciation	(381,587)		(350,491)
Property and equipment, net	241,669		227,689
Deferred income taxes	26,448		28,152
Goodwill	273,827		259,759
Trademarks, net of accumulated amortization of $3,350 at February 2, 2013 and $2,246 at January 28, 2012	77,408		78,276
Other intangibles, net of accumulated amortization of $17,220 at February 2, 2013 and $13,645 at January 28, 2012	11,598		14,808
Other noncurrent assets	20,568		33,269
Total Assets	1,333,789	[1]	1,237,265
Current Liabilities
Accounts payable	118,350		138,938
Accrued employee compensation	55,078		53,029
Accrued other taxes	27,004		26,293
Accrued income taxes	2,096		16,390
Current portion – long-term debt	5,675		8,773
Other accrued liabilities	60,659		52,789
Provision for discontinued operations	7,192		8,250
Total current liabilities	276,054		304,462
Long-term debt	45,007		31,931
Pension liability	20,514		22,201
Deferred rent and other long-term liabilities	177,537		156,794
Provision for discontinued operations	4,159		4,267
Total liabilities	523,271		519,655
Commitments and contingent liabilities
Equity
Non-redeemable preferred stock	3,924		4,957
Common equity:
Common stock, $1 par value: Authorized: 80,000,000 shares Issued/Outstanding: February 2, 2013 - 24,484,915/23,996,451, January 28, 2012 - 24,757,826/24,269,362	24,485		24,758
Additional paid-in capital	170,360		149,479
Retained earnings	655,920		586,990
Accumulated other comprehensive loss	(28,241)		(32,966)
Treasury shares, at cost (488,464 shares)	(17,857)		(17,857)
Total Genesco equity	808,591		715,361
Noncontrolling interest – non-redeemable	1,927		2,249
Total equity	810,518		717,610
Total Liabilities and Equity	$ 1,333,789		$ 1,237,265

[1] Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $159.1 million, $99.9 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $6.5 million of additions in Fiscal 2012 resulting from small acquisitions and the Schuh Group goodwill is due to the acquisition of Schuh in the second quarter of Fiscal 2012 of $102.9 million which has been decreased by $3.0 million due to foreign currency translation adjustment.

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Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Finacial Statement Reclassifications (Details Textual) (USD $)	3 Months Ended									12 Months Ended
	Feb. 02, 2013		Oct. 27, 2012	Jul. 28, 2012	Apr. 28, 2012	Jan. 28, 2012	Oct. 29, 2011	Jul. 30, 2011	Apr. 30, 2011	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Segment Reporting Information [Line Items]
Net sales	$ 796,693,000	[1]	$ 664,458,000	$ 543,522,000	$ 600,144,000	$ 723,369,000	$ 616,525,000	$ 470,591,000	$ 481,502,000	$ 2,604,817,000	[2]	$ 2,291,987,000	$ 1,789,839,000
Operating income										167,970,000		143,870,000	86,083,000
Assets	1,333,789,000	[3]				1,237,265,000				1,333,789,000	[3]	1,237,265,000	961,082,000	[4]
Depreciation and amortization										63,697,000		53,737,000	47,738,000
Capital expenditures										71,737,000		49,456,000	29,299,000
Cost of Sales [Member]
Segment Reporting Information [Line Items]
Shipping and warehouse expense, reclassification										6,300,000		3,800,000
Journeys Group [Member] | Restatement Adjustment [Member]
Segment Reporting Information [Line Items]
Net sales										92,400,000		94,400,000
Operating income										(300,000)		(3,000,000)
Assets	25,200,000					27,800,000				25,200,000		27,800,000
Depreciation and amortization										1,800,000		2,200,000
Capital expenditures										$ 200,000		$ 1,300,000

[1] 14 week period vs. 13 weeks in prior period.

[2] 53 week period vs. 52 weeks in prior period.

[3] Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $159.1 million, $99.9 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $6.5 million of additions in Fiscal 2012 resulting from small acquisitions and the Schuh Group goodwill is due to the acquisition of Schuh in the second quarter of Fiscal 2012 of $102.9 million which has been decreased by $3.0 million due to foreign currency translation adjustment.

[4] Total assets for the Lids Sports Group and Licensed Brands include $152.5 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group includes $33.5 million of additions in Fiscal 2011 resulting from small acquisitions and the Licensed Brands goodwill is due to the acquisition of Keuka Footwear in Fiscal 2011.

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Valuation and Qualifying Accounts (Details) (Accounts Receivable Allowances, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Accounts Receivable Allowances
Reserves deducted from assets in the balance sheet:
Beginning Balance	$ 6,900	$ 3,301	$ 3,232
Charged to Profit and Loss	1,325	2,004	1,081
Increases (Decreases)	(2,143)	1,595	(1,012)
Ending Balance	$ 6,082	$ 6,900	$ 3,301

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Consolidated Statements of Comprehensive Income - Parentheticals (USD $) In Millions, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Gain (loss) on foreign currency forward contract net of tax	$ 0	$ 0	$ 0.1
Pension liability adjustment net of tax	2.4	(3.1)	2.7
Postretirement liability adjustment net of tax	$ (0.1)	$ (0.1)	$ (0.1)

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Quarterly Financial Information (Unaudited) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended																12 Months Ended
	Feb. 02, 2013		Oct. 27, 2012		Jul. 28, 2012		Apr. 28, 2012		Jan. 28, 2012		Oct. 29, 2011		Jul. 30, 2011		Apr. 30, 2011		Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Details of Quarterly financial information
Net sales	$ 796,693	[1]	$ 664,458		$ 543,522		$ 600,144		$ 723,369		$ 616,525		$ 470,591		$ 481,502		$ 2,604,817	[2]	$ 2,291,987	$ 1,789,839
Gross margin	384,313	[1]	334,348		273,022		306,664		354,692		310,457		235,771		246,786		1,298,347	[2]	1,147,706
Earnings (loss) from continuing operations before income taxes	61,224	[1],[3]	51,077	[4]	15,748	[4]	34,890	[5]	69,154	[6]	44,043	[7]	570	[4]	25,011	[8]	162,939	[2]	138,778	84,961
Earnings (loss) from continuing operations	38,677	[1]	40,969		10,561		20,791		41,498		26,161		350		14,975		110,998	[2]	82,984	54,547
Net earnings (loss)	$ 38,527	[1],[9]	$ 40,875	[10]	$ 10,520		$ 20,614	[9]	$ 41,470		$ 26,088	[10]	$ (392)	[11]	$ 14,793	[9]	$ 110,536	[2]	$ 81,959	$ 53,211
Diluted earnings per common share:
Continuing operations (USD per share)	$ 1.63	[1]	$ 1.71		$ 0.44		$ 0.86		$ 1.72		$ 1.09		$ 0.01		$ 0.63		$ 4.62	[2]	$ 3.48	$ 2.29
Net earnings (loss) (USD per share)	$ 1.62	[1]	$ 1.70		$ 0.43		$ 0.85		$ 1.72		$ 1.09		$ (0.02)		$ 0.63		$ 4.60	[2]	$ 3.43	$ 2.24

[1] 14 week period vs. 13 weeks in prior period.

[2] 53 week period vs. 52 weeks in prior period.

[3] Includes a net asset impairment and other charge of $16.1 million (see Note 3).

[4] Includes a net asset impairment and other charge of $0.4 million (see Note 3).

[5] Includes a net asset impairment and other charge of $0.1 million (see Note 3).

[6] Includes a net asset impairment and other charge of $0.8 million (see Note 3).

[7] Includes a net asset impairment and other charge of $0.3 million (see Note 3).

[8] Includes a net asset impairment and other charge of $1.2 million (see Note 3).

[9] Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3).

[10] Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

[11] Includes a loss of $0.7 million, net of tax, from discontinued operations (see Note 3).

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Equity (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Feb. 02, 2013 Vote		Jan. 28, 2012	Jan. 29, 2011	Jan. 30, 2010
Non-Redeemable Preferred Stock
Non-redeemable preferred stock	$ 3,924		$ 4,957	$ 5,183	$ 5,220
Number of votes	1
Common convertible ratio	1
Subordinated Serial Preferred Stock Aggregate [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	3,000,000	[1]
Non-redeemable preferred stock, number of shares	0		0	0
Non-redeemable preferred stock	0		0	0
Subordinated Serial Preferred Stock $2.30 Series 1 [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	64,368
Non-redeemable preferred stock, number of shares	16,203		30,368	33,497
Non-redeemable preferred stock	648		1,215	1,340
Common Convertible Ratio	0.83
Par value of preferred stock (USD per share)	$ 40
Subordinated Serial Preferred Stock $4.75 Series 3 [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	40,449
Non-redeemable preferred stock, number of shares	7,398		11,643	12,163
Non-redeemable preferred stock	740		1,164	1,216
Common Convertible Ratio	2.11
Number of votes	2
Par value of preferred stock (USD per share)	$ 100
Subordinated Serial Preferred Stock $4.75 Series 4 [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	53,764
Non-redeemable preferred stock, number of shares	3,247		3,397	3,579
Non-redeemable preferred stock	325		340	358
Common Convertible Ratio	1.52
Number of votes	1
Subordinated Serial Preferred Stock Series 6 [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	800,000
Non-redeemable preferred stock, number of shares	0		0	0
Non-redeemable preferred stock	0		0	0
Number of votes	100
$1.50 Subordinated Cumulative Preferred Stock [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	5,000,000
Non-redeemable preferred stock, number of shares	30,067		30,067	30,067
Non-redeemable preferred stock	902		902	902
Number of votes	1
Common convertible ratio	1	[2]
Par value of preferred stock (USD per share)	$ 1.50
Non-Redeemable Preferred Stock [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, number of shares	56,915		75,475	79,306
Non-redeemable preferred stock	2,615		3,621	3,816	3,833
Employees Subordinated Convertible Preferred Stock [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock, shares authorized	5,000,000
Non-redeemable preferred stock, number of shares	46,852		47,922	49,192
Non-redeemable preferred stock	1,405		1,437	1,476	1,510
Common Convertible Ratio	1.00	[2]
Number of votes	1
Stated Value of Issued Shares [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock	4,020		5,058	5,292
Employees' Preferred Stock Purchase Accounts [Member]
Non-Redeemable Preferred Stock
Non-redeemable preferred stock	$ (96)		$ (101)	$ (109)	$ (123)

[1] The Company’s charter permits the board of directors to issue Subordinated Serial Preferred Stock in as many series, each with as many shares and such rights and preferences as the board may designate.

[2] Also convertible into one share of $1.50 Subordinated Cumulative Preferred Stock.

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Defined Benefit Pension Plans and Other Benefit Plans (Tables)

12 Months Ended

Feb. 02, 2013

Compensation and Retirement Disclosure [Abstract]

Obligations and funded status

Obligations and Funded Status

Change in Benefit Obligation

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Benefit obligation at beginning of year	$	118,644		$	110,793		$	3,908		$	3,480
Service cost	350			250			356			166
Interest cost	4,961			5,597			157			174
Plan participants’ contributions	0			0			74			71
Benefits paid	(9,038		)	(8,805		)	(221		)	(242		)
Actuarial loss	4,209			10,809			213			259
Benefit Obligation at End of Year	$	119,126		$	118,644		$	4,487		$	3,908

Change in Plan Assets

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Fair value of plan assets at beginning of year	$	96,443		$	98,887		$	0		$	0
Actual gain on plan assets	11,207			6,111			0			0
Employer contributions	0			250			147			171
Plan participants’ contributions	0			0			74			71
Benefits paid	(9,038		)	(8,805		)	(221		)	(242		)
Fair Value of Plan Assets at End of Year	$	98,612		$	96,443		$	0		$	0
Funded Status at End of Year	$	(20,514	)	$	(22,201	)	$	(4,487	)	$	(3,908	)

Amounts recognized in the consolidated balance sheets

Amounts recognized in the Consolidated Balance Sheets consist of:

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Noncurrent assets	$	0		$	0		$	0		$	0
Current liabilities	0			0			(160		)	(160		)
Noncurrent liabilities	(20,514		)	(22,201		)	(4,327		)	(3,748		)
Net Amount Recognized	$	(20,514	)	$	(22,201	)	$	(4,487	)	$	(3,908	)

Amounts recognized in accumulated other comprehensive income

Amounts recognized in accumulated other comprehensive income consist of:

	Pension Benefits				Other Benefits
In thousands	2013		2012		2013		2012
Prior service cost	$	0	$	4	$	0	$	0
Net loss	42,879		48,906		566		437
Total Recognized in Accumulated Other Comprehensive Loss	$	42,879	$	48,910	$	566	$	437

Pension benefits

In thousands
Pension Benefits	February 2, 2013		January 28, 2012
Projected benefit obligation	$	119,126	$	118,644
Accumulated benefit obligation	119,126		118,644
Fair value of plan assets	98,612		96,443

Components of net periodic benefit cost

Net Periodic Benefit Cost

	Pension Benefits									Other Benefits
In thousands	2013			2012			2011			2013		2012		2011
Service cost	$	350		$	250		$	250		$	356	$	166	$	144
Interest cost	4,961			5,597			5,897			157		174		170
Expected return on plan assets	(7,003		)	(7,807		)	(8,089		)	—		—		—
Amortization:
Prior service cost	4			4			4			—		—		—
Losses	6,032			4,728			4,235			84		79		59
Net amortization	$	6,036		$	4,732		$	4,239		$	84	$	79	$	59
Net Periodic Benefit Cost	$	4,344		$	2,772		$	2,297		$	597	$	419	$	373

Reconciliation of accumulated other comprehensive income

Reconciliation of Accumulated Other Comprehensive Income

	Pension Benefits			Other Benefits
In thousands	2013			2013
Net loss (gain)	$	5		$	(84	)
Amortization of prior service cost	(4		)	—
Amortization of net actuarial (loss) gain	(6,032		)	213
Total Recognized in Other Comprehensive Income	$	(6,031	)	$	129
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	(1,687	)	$	726

Weighted-average assumptions used to determine benefit obligations

Weighted-average assumptions used to determine benefit obligations

	Pension Benefits				Other Benefits
	2013		2012		2013		2012
Discount rate	4.00	%	4.35	%	4.01	%	4.17	%
Rate of compensation increase	NA		NA		—		—

Weighted-average assumptions used to determine net periodic benefit costs

Weighted-average assumptions used to determine net periodic benefit costs

	Pension Benefits						Other Benefits
	2013		2012		2011		2013		2012		2011
Discount rate	4.35	%	5.25	%	5.625	%	4.17	%	5.25	%	5.50	%
Expected long-term rate of return on plan assets	7.75	%	8.25	%	8.25	%	—		—		—
Rate of compensation increase	NA		NA		NA		—		—		—

Assumed health care cost trend rates

Assumed health care cost trend rates

	2013		2012
Health care cost trend rate assumed for next year	7.0	%	7.5	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5	%	5	%
Year that the rate reaches the ultimate trend rate	2017		2017

Effect of one percentage point change in the assumed health care cost trend rate

The effect on disclosed information of one percentage point change in the assumed health care cost trend rate for each future year is shown below.

In thousands	1% Increase in Rates		1% Decrease in Rates
Aggregated service and interest cost	$	153	$	70
Accumulated postretirement benefit obligation	$	735	$	578

Company's pension plan weighted average asset allocations by asset category

The Company’s pension plan weighted average asset allocations as of February 2, 2013 and January 28, 2012, by asset category are as follows:

	Plan Assets
	February 2, 2013		January 28, 2012
Asset Category
Equity securities	66	%	63	%
Debt securities	34	%	37	%
Other	0	%	0	%
Total	100	%	100	%

Hierarchy of plan assets by level within fair values

The following tables present the pension plan assets by level within the fair value hierarchy as of February 2, 2013 and January 28, 2012.

February 2, 2013	Level 1			Level 2		Level 3		Total
Equity Securities:
International securities	$	13,757		$	—	$	—	$	13,757
U.S. securities	51,011			—		—		51,011
Fixed Income Securities	33,633			—		—		33,633
Other:
Cash Equivalents	235			—		—		235
Other (includes receivables and payables)	(24		)	—		—		(24		)
Total Pension Plan Assets	$	98,612		$	—	$	—	$	98,612

January 28, 2012	Level 1			Level 2		Level 3		Total
Equity Securities:
International securities	$	11,754		$	—	$	—	$	11,754
U.S. securities	49,321			—		—		49,321
Fixed Income Securities	35,164			—		—		35,164
Other:
Cash Equivalents	267			—		—		267
Other (includes receivables and payables)	(63		)	—		—		(63		)
Total Pension Plan Assets	$	96,443		$	—	$	—	$	96,443

Expected benefit payments from the trust, including future service and pay

Expected benefit payments from the trust, including future service and pay, are as follows:

Estimated future payments	Pension Benefits ($ in millions)		Other benefits ($ in millions)
2013	$	8.7	$	0.2
2014	8.7		0.2
2015	8.4		0.2
2016	8.3		0.2
2017	8.1		0.2
2018 – 2022	38.1		1.3

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Income Taxes (Details 2) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Deferred tax assets net classification
Net current asset	$ 23,725	$ 22,541
Net non-current asset	26,448	28,152
Net non-current liability	(21)	(4,181)
Net Deferred Tax Assets	$ 50,152	$ 46,512

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Business Segment Information

12 Months Ended

Feb. 02, 2013

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

During Fiscal 2013, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys and Underground by Journeys retail footwear chains, catalog and e-commerce operations; (ii) Schuh Group, acquired in June 2011, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised primarily of the Lids, Hat World and Hat Shack retail headwear stores, the Lids Locker Room and Lids Clubhouse fan shops (operated under various trade names), the Lids Team Sports business and certain e-commerce operations; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution; and (v) Licensed Brands, comprised of Dockers^® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip^® Footwear, occupational footwear primarily sold directly to consumers; and other footwear brands.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

The Company's reportable segments are based on management's organization of the segments in order to make operating decisions and assess performance along types of products sold. Journeys Group, Schuh Group and Lids Sports Group sell primarily branded products from other companies while Johnston & Murphy Group and Licensed Brands sell primarily the Company's owned and licensed

brands. As a result of combining the Underground Station Group with Journeys Group in the first quarter of Fiscal 2013, Journeys Group segment sales, operating income, total assets, depreciation and amortization and capital expenditures have been restated for Fiscal 2012 and 2011 to conform to the current year presentation.

Corporate assets include cash, domestic prepaid rent expense, prepaid income taxes, deferred income taxes, deferred note expense and corporate fixed assets. The Company charges allocated retail costs of distribution to each segment. The Company does not allocate certain costs to each segment in order

to make decisions and assess performance. These costs include corporate overhead, interest expense, interest income, asset impairment charges and other, including major litigation.

Note 14

Business Segment Information, Continued

Fiscal 2013
	Journeys Group			Schuh Group		Lids Sports Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	1,111,490		$	370,480	$	793,016		$	221,870		$	108,808		$	1,234		$	2,606,898
Intercompany sales	—		—	—		(1,761		)	(10		)	(310		)	—			(2,081		)
Net sales to external customers	$	1,111,490		$	370,480	$	791,255		$	221,860		$	108,498		$	1,234		$	2,604,817
Segment operating income (loss)	$	106,929		$	7,875	$	85,794		$	15,737		$	10,064		$	(41,392	)	$	185,007
Asset Impairments and other*	—			—		—			—			—			(17,037		)	(17,037		)
Earnings (loss) from operations	106,929			7,875		85,794			15,737			10,064			(58,429		)	167,970
Interest expense	—			—		—			—			—			(5,126		)	(5,126		)
Interest income	—			—		—			—			—			95			95
Earnings (loss) from continuing operations before income taxes	$	106,929		$	7,875	$	85,794		$	15,737		$	10,064		$	(63,460	)	$	162,939
Total assets**	$	280,396		$	231,323	$	519,006		$	89,505		$	43,212		$	170,347		$	1,333,789
Depreciation and amortization	20,190			10,040		26,892			3,738			366			2,471			63,697
Capital expenditures	21,852			16,873		21,448			6,680			1,255			3,629			71,737

 *Asset Impairments and other includes a $1.4 million charge for asset impairments, of which $0.9 million is in the Lids Sports Group,

$0.4 million is in the Journeys Group and $0.1 million is in the Johnston & Murphy Group, a $15.5 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

**Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $172.3 million, $100.7 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $13.2 million of additions in Fiscal 2013 resulting from small acquisitions and the Schuh Group goodwill increased by $0.8 million due to foreign currency translation adjustment.

Note 14

Business Segment Information, Continued

Fiscal 2012
	Journeys Group		Schuh Group		Lids Sports Group			Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	1,020,116	212,262		$	759,671		$	201,725	$	97,721		$	1,116		$	2,292,611
Intercompany sales	—		—		(347		)	—		(277		)	—			(624		)
Net sales to external customers	$	1,020,116	$	212,262	$	759,324		$	201,725	$	97,444		$	1,116		$	2,291,987
Segment operating income (loss)	$	82,452	$	11,711	$	82,349		$	13,682	$	9,456		$	(53,103	)	$	146,547
Asset Impairments and other*	—		—		—			—		—			(2,677		)	(2,677		)
Earnings (loss) from operations	82,452		11,711		82,349			13,682		9,456			(55,780		)	143,870
Interest expense	—		—		—			—		—			(5,157		)	(5,157		)
Interest income	—		—		—			—		—			65			65
Earnings (loss) from continuing operations before income taxes	$	82,452	$	11,711	$	82,349		$	13,682	$	9,456		$	(60,872	)	$	138,778
Total assets**	$	259,331	205,313		$	489,512		$	79,321	$	34,974		$	168,814		$	1,237,265
Depreciation and amortization	20,742		4,602		22,541			3,538		285			2,029			53,737
Capital expenditures	11,125		7,406		24,497			1,894		718			3,816			49,456

*Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

**Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $159.1 million, $99.9 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $6.5 million of additions in Fiscal 2012 resulting from small acquisitions and the Schuh Group goodwill is due to the acquisition of Schuh in the second quarter of Fiscal 2012 of $102.9 million which has been decreased by $3.0 million due to foreign currency translation adjustment.

Note 14

Business Segment Information, Continued

Fiscal 2011
	Journeys Group		Lids Sports Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	898,500	$	603,533		$	185,012		$	101,839		$	1,339		$	1,790,223
Intercompany sales	—		(188		)	(1		)	(195		)	—			(384		)
Net sales to external customers	$	898,500	$	603,345		$	185,011		$	101,644		$	1,339		$	1,789,839
Segment operating income (loss)	$	49,642	$	56,026		$	7,595		$	12,359		$	(30,972	)	$	94,650
Asset Impairments and other*	—		—			—			—			(8,567		)	(8,567		)
Earnings (loss) from operations	49,642		56,026			7,595			12,359			(39,539		)	86,083
Interest expense	—		—			—			—			(1,130		)	(1,130		)
Interest income	—		—			—			—			8			8
Earnings (loss) from continuing operations before income taxes	$	49,642	$	56,026		$	7,595		$	12,359		$	(40,661	)	$	84,961
Total assets**	$	268,335	$	435,016		$	72,393		$	38,152		$	147,186		$	961,082
Depreciation and amortization	23,005		18,627			3,754			217			2,135			47,738
Capital expenditures	7,754		17,908			1,687			27			1,923			29,299

*Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

**Total assets for the Lids Sports Group and Licensed Brands include $152.5 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group includes $33.5 million of additions in Fiscal 2011 resulting from small acquisitions and the Licensed Brands goodwill is due to the acquisition of Keuka Footwear in Fiscal 2011.

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Earnings Per Share (Tables)

12 Months Ended

Feb. 02, 2013

Earnings Per Share [Abstract]

Summary of Basic and Diluted Earnings per share

Earnings Per Share

	For the Year Ended February 2, 2013						For the Year Ended January 28, 2012						For the Year Ended January 29, 2011
(In thousands, except per share amounts)	Income (Numerator)			Shares (Denominator)	Per-Share Amount		Income (Numerator)			Shares (Denominator)	Per-Share Amount		Income (Numerator)			Shares (Denominator)	Per-Share Amount
Earnings from continuing operations	$	110,998					$	82,984					$	54,547
Less: Preferred stock dividends	(147		)				(193		)				(197		)
Basic EPS from continuing operations
Income available to common shareholders	110,851			23,584	$	4.70	82,791			23,234	$	3.56	54,350			23,209	$	2.34
Effect of Dilutive Securities from continuing operations
Options and restricted stock				372						511						431
Convertible preferred stock(1)	88			34			141			55			58			26
Employees’ preferred stock(2)				47						48						50
Diluted EPS
Income available to common shareholders plus assumed conversions	$	110,939		24,037	$	4.62	$	82,932		23,848	$	3.48	$	54,408		23,716	$	2.29

(1) The amount of the dividend on the convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings per share for Series 1, 3 and 4 preferred stocks for Fiscal 2013 and 2012. Therefore, conversion of these convertible preferred stocks were included in diluted earnings per share for Fiscal 2013 and 2012. The amount of the dividend on Series 3 convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings for Fiscal 2011. Therefore, conversion of Series 3 preferred shares were included in diluted earnings per share for Fiscal 2011. The amount of the dividend on Series 1 and Series 4 convertible preferred stock per common share obtainable on conversion of the preferred stock was higher than basic earnings for Fiscal 2011. Therefore, conversion of Series 1 and Series 4 preferred shares were not reflected in diluted earnings per share for Fiscal 2011 because it would have been antidilutive. The shares convertible to common stock for Series 1, 3 and 4 preferred stock would have been 13,502 and 15,575 and 4,920, respectively, as of February 2, 2013.

(2) The Company’s Employees’ Subordinated Convertible Preferred Stock is convertible one for one to the Company’s common stock. Because there are no dividends paid on this stock, these shares are assumed to be converted.

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Valuation and Qualifying Accounts

12 Months Ended

Feb. 02, 2013

Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

Valuation and Qualifying Accounts

Year Ended February 2, 2013

In Thousands	Beginning Balance		Charged to Profit and Loss		Increases (Decreases)			Ending Balance
Reserves deducted from assets in the balance sheet:
Accounts Receivable Allowances	$	6,900	$	1,325	$	(2,143	)	$	6,082

Year Ended January 28, 2012

In Thousands	Beginning Balance		Charged to Profit and Loss		Increases (Decreases)		Ending Balance
Reserves deducted from assets in the balance sheet:
Accounts Receivable Allowances	$	3,301	$	2,004	$	1,595	$	6,900

Year Ended January 29, 2011

In Thousands	Beginning Balance		Charged to Profit and Loss		Increases (Decreases)			Ending Balance
Reserves deducted from assets in the balance sheet:
Accounts Receivable Allowances	$	3,232	$	1,081	$	(1,012	)	$	3,301

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Income Taxes (Details Textual) (USD $)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011	Jan. 30, 2010
Income Taxes (Textual) [Abstract]
Discontinued operations income tax benefit	$ 300,000	$ 700,000	$ 900,000
Additional income tax benefit (expense)	4,800,000	4,600,000	1,300,000
Effective tax rate for continuing operation	31.88%	40.20%	35.80%
Deferred tax valuation allowance	3,541,000	3,790,000
Decrease in valuation allowance	300,000
Valuation allowance at the beginning of fiscal year		3,800,000
Accumulated undistributed earnings of foreign subsidiary	26,000,000
Unrecognized tax benefit	10,437,000	20,467,000	14,167,000	17,004,000
Unrecognized tax benefits that would impact effective tax rate	2,400,000	12,600,000	13,100,000
Possibility of decrease in gross tax liability in next 12 months	700,000
Interest on income taxes expense	(1,200,000)	500,000	(500,000)
Income tax penalties expense	100,000	0	(200,000)
Interest on income taxes accrued	1,100,000	2,300,000
Income tax penalties accrued	200,000	200,000
Domestic Country [Member]
Income Taxes (Textual) [Abstract]
Operating loss carryforwards	1,500,000	1,600,000
Operating loss carryforwards, expiration dates	2025 through 2030
State And Local Jurisdiction [Member]
Income Taxes (Textual) [Abstract]
Operating loss carryforwards	100,000	100,000	400,000
Operating loss carryforwards, expiration dates	2016 through 2031
Tax credit carryforward	900,000	600,000	500,000
Foreign Country [Member]
Income Taxes (Textual) [Abstract]
Operating loss carryforwards	2,400,000	7,200,000
Operating loss carryforwards, expiration dates	2022
Tax credit carryforward	$ 0	$ 100,000	$ 300,000
Maximum [Member]
Income Taxes (Textual) [Abstract]
Period of statutes of limitation of subsidiaries in foreign jurisdictions	6 years
Minimum [Member]
Income Taxes (Textual) [Abstract]
Period of statutes of limitation of subsidiaries in foreign jurisdictions	2 years

XML

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 110,536	[1]	$ 81,959	$ 53,211
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	63,697		53,737	47,738
Amortization of deferred note expense and debt discount	792		708	370
Deferred income taxes	(17,831)		2,732	(11,866)
Provision for losses on accounts receivable	1,325		2,004	1,081
Impairment of long-lived assets	1,396		1,119	7,155
Restricted stock and share-based compensation	10,508		7,660	8,006
Provision for discontinued operations	796		1,692	2,203
Tax benefit of stock options and restricted stock exercised	(4,820)		(4,744)	(1,448)
Other	1,327		1,005	1,328
Effect on cash from changes in working capital and other assets and liabilities, before acquisitions:
Accounts receivable	(5,821)		3,011	(12,085)
Inventories	(61,049)		(42,324)	(44,345)
Prepaids and other current assets	(4,524)		5,286	(167)
Accounts payable	(17,953)		(1,201)	13,641
Other accrued liabilities	(6,908)		9,046	41,597
Other assets and liabilities	51,739		23,270	(3,811)
Net cash provided by operating activities	123,210		144,960	102,608
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(71,737)		(49,456)	(29,299)
Acquisitions, net of cash acquired	(23,818)		(92,985)	(75,500)
Proceeds from asset sales	81		27	11
Net cash used in investing activities	(95,474)		(142,414)	(104,788)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of capital leases	(2)		(22)	(104)
Payments of long-term debt	(13,581)		(25,321)	(1,918)
Borrowings under revolving credit facility	439,600		299,800	107,400
Payments on revolving credit facility	(416,900)		(294,800)	(107,400)
Tax benefit of stock options and restricted stock exercised	4,820		4,744	1,448
Shares repurchased	(37,650)		0	(26,851)
Change in overdraft balances	(2,925)		2,931	4,160
Dividends paid on non-redeemable preferred stock	(147)		(193)	(197)
Exercise of stock options and issue shares - Employee Stock Purchase Plan	4,965		9,820	2,343
Other	4		(939)	(2,915)
Net cash used in financing activities	(21,816)		(3,980)	(24,034)
Effect of foreign exchange rate fluctuations on cash	85		(710)	0
Net Increase (Decrease) in Cash and Cash Equivalents	6,005		(2,144)	(26,214)
Cash and cash equivalents at beginning of period	53,790		55,934	82,148
Cash and cash equivalents at end of period	59,795		53,790	55,934
Net cash paid for:
Interest	4,391		4,789	748
Income taxes	$ 81,607		$ 50,254	$ 24,079

[1] 53 week period vs. 52 weeks in prior period.

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Allowances on accounts receivable	$ 6,082	$ 6,900
Accumulated amortization on trademarks	3,350	2,246
Accumulated amortization on other intangibles	$ 17,220	$ 13,645
Common stock, par value (USD per share)	$ 1	$ 1
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	24,484,915	24,757,826
Common stock, shares outstanding	23,996,451	24,269,362
Shares held in treasury	488,464	488,464

XML

Income Taxes

12 Months Ended

Feb. 02, 2013

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Income tax expense from continuing operations is comprised of the following:

In thousands	2013			2012			2011
Current
U.S. federal	$	50,859		$	42,103		$	35,103
International	10,072			2,007			1,474
State	8,841			8,952			5,703
Total Current Income Tax Expense	69,772			53,062			42,280
Deferred
U.S. federal	(7,445		)	(175		)	(8,165		)
International	(7,148		)	4,370			—
State	(3,238		)	(1,463		)	(3,701		)
Total Deferred Income Tax Expense (Benefit)	(17,831		)	2,732			(11,866		)
Total Income Tax Expense – Continuing Operations	$	51,941		$	55,794		$	30,414

Discontinued operations were recorded net of income tax benefit of approximately $(0.3) million, $(0.7) million and $(0.9) million in Fiscal 2013, 2012 and 2011, respectively.

As a result of the exercise of stock options and vesting of restricted stock during Fiscal 2013, 2012 and 2011, the Company realized an additional income tax benefit of approximately $4.8 million, $4.6 million and $1.3 million, respectively. These tax benefits are reflected as an adjustment to additional paid-in capital.

Note 9

Income Taxes, Continued

 Deferred tax assets and liabilities are comprised of the following:

	February 2,			January 28,
In thousands	2013			2012
Identified intangibles	$	(28,076	)	$	(28,125	)
Prepaids	(2,943		)	(2,814		)
Convertible bonds	(3,001		)	(3,001		)
Total deferred tax liabilities	(34,020		)	(33,940		)
Options	965			1,289
Deferred rent	5,847			7,043
Pensions	8,321			8,936
Expense accruals	24,483			17,146
Uniform capitalization costs	12,539			9,893
Book over tax depreciation	13,783			11,756
Provisions for discontinued operations and restructurings	4,745			5,201
Inventory valuation	2,015			2,397
Tax net operating loss and credit carryforwards	3,535			8,306
Allowances for bad debts and notes	1,598			1,641
Deferred compensation and restricted stock	6,382			5,174
Other	3,500			5,460
Gross deferred tax assets	87,713			84,242
Deferred tax asset valuation allowance	(3,541		)	(3,790		)
Deferred tax asset net of valuation allowance	84,172			80,452
Net Deferred Tax Assets	$	50,152		$	46,512

The deferred tax balances have been classified in the Consolidated Balance Sheets as follows:

	2013			2012
Net current asset	$	23,725		$	22,541
Net non-current asset	26,448			28,152
Net non-current liability	(21		)	(4,181		)
Net Deferred Tax Assets	$	50,152		$	46,512

Note 9

Income Taxes, Continued

Reconciliation of the United States federal statutory rate to the Company’s effective tax rate from continuing operations is as follows:

	2013		2012		2011
U. S. federal statutory rate of tax	35.00	%	35.00	%	35.00	%
State taxes (net of federal tax benefit)	3.17		3.53		2.59
Foreign rate differential	(1.78	)	(1.92	)	—
Change in valuation allowance	(0.17	)	0.71		—
Permanent items	2.00		2.35		(0.83	)
Uncertain tax positions	(5.80	)	—		(1.56	)
Other	(0.54	)	0.53		0.60
Effective Tax Rate	31.88	%	40.20	%	35.80	%

The provision for income taxes resulted in an effective tax rate for continuing operations of 31.88% for Fiscal 2013, compared with an effective tax rate of 40.20% for Fiscal 2012. The decrease in the effective tax rate for Fiscal 2013 was primarily attributable to the reversal of charges previously recorded related to uncertain tax positions due to the expiration of the applicable statutes of limitations and a settlement with a state tax authority more favorable than anticipated related to other uncertain tax positions.

As of February 2, 2013 and January 28, 2012, the Company had a federal net operating loss carryforward, which was assumed in one of the prior year acquisitions, of $1.5 million and $1.6 million, respectively, which expire in fiscal years 2025 through 2030.

As of February 2, 2013, January 28, 2012 and January 29, 2011, the Company had state net operating loss carryforwards of $0.1 million, $0.1 million and $0.4 million, respectively, which expire in fiscal years 2016 through 2031.

As of February 2, 2013, January 28, 2012 and January 29, 2011, the Company had state tax credits of $0.9 million, $0.6 million and $0.5 million, respectively. These credits expire in fiscal years 2014 through 2019.

As of February 2, 2013, January 28, 2012 and January 29, 2011, the Company had foreign tax credits of $0.0 million, $0.1 million and $0.3 million, respectively. These credits will expire in fiscal year 2022.

As of February 2, 2013 and January 28, 2012, the Company had foreign net operating losses of $2.4 million and $7.2 million, respectively, which have no expiration.

As of February 2, 2013, as part of the Schuh acquisition, the Company has provided a valuation allowance of approximately $3.5 million on deferred tax assets associated primarily with foreign net operating losses and foreign fixed assets for which management has determined it is more likely than

Note 9

Income Taxes, Continued

not that the deferred tax assets will not be realized. The $0.3 million net decrease in the valuation allowance during Fiscal 2013 from the $3.8 million provided for as of January 28, 2012 determined in

accordance with the Income Tax Topic of the Codification relate to foreign net operating losses arising in Fiscal 2012 and increases in fixed asset-related deferred tax assets that will more likely than not

never be realized. Management believes that it is more likely than not that the remaining deferred tax assets will be fully realized.

As of February 2, 2013, the Company has not provided for withholding or United States federal income taxes on approximately $26.0 million of accumulated undistributed earnings of its foreign subsidiaries as they are considered by management to be permanently reinvested. If these undistributed earnings were not considered to be permanently reinvested, the related U.S. tax liability may be reduced by foreign income taxes paid on those earnings. Because of the complexities involved with the hypothetical tax calculation, a determination of the unrecognized deferred tax liability related to these undistributed earnings is not practicable.

The methodology in the Income Tax Topic of the Codification prescribes that a company should use a more-likely-than-not recognition threshold based on the technical merits of the tax position taken. Tax positions that meet the more-likely-than-not recognition threshold should be measured in order to determine the tax benefit to be recognized in the financial statements.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for Fiscal 2013, 2012 and 2011.

In thousands	2013			2012			2011
Unrecognized Tax Benefit – Beginning of Period	$	20,467		$	14,167		$	17,004
Gross Increases (Decreases) – Tax Positions in a Prior Period	(2,464		)	(29		)	(517		)
Gross Increases – Tax Positions in a Current Period	133			6,986			473
Settlements	(449		)	(533		)	(2,605		)
Lapse of Statutes of Limitations	(7,250		)	(124		)	(188		)
Unrecognized Tax Benefit – End of Period	$	10,437		$	20,467		$	14,167

Unrecognized tax benefits were approximately $10.4 million, $20.5 million and $14.2 million as of February 2, 2013, January 28, 2012 and January 29, 2011, respectively. The amount of unrecognized tax benefits as of February 2, 2013, January 28, 2012 and January 29, 2011, which would impact the annual effective rate if recognized were $2.4 million, $12.6 million and $13.1 million, respectively. The Company believes it is reasonably possible that there will be a $0.7 million decrease in the gross tax liability for uncertain tax positions within the next 12 months based upon the expiration of statutes of limitation.

The Company recognizes interest expense and penalties related to the above unrecognized tax benefits within income tax expense on the Consolidated Statements of Operations. Related to the uncertain tax benefits noted above, the Company recorded interest and penalties of approximately $(1.2) million expense and $0.1 million, respectively, during Fiscal 2013, $0.5 million expense and $0.0 million, respectively, during Fiscal 2012 and $(0.5) million income and $(0.2) million income, respectively,

Note 9

Income Taxes, Continued

during Fiscal 2011. The Company recognized a liability for accrued interest and penalties of $1.1 million and $0.2 million, respectively, as of February 2, 2013 and $2.3 million and $0.2 million, respectively,

as of January 28, 2012. The long-term portion of the unrecognized tax benefits and related accrued interest and penalties are included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets.

Income tax reserves are determined using the methodology required by the Income Tax Topic of the Codification.

The Company and its subsidiaries file income tax returns in federal and in many state and local jurisdictions as well as foreign jurisdictions. With few exceptions, the Company's U.S. federal and state and local income tax returns for fiscal years ended January 30, 2010 and beyond remain subject to examination. In addition, the Company has subsidiaries in various foreign jurisdictions that have statutes of limitation generally ranging from two to six years.

XML

Business Segment Information (Details Textual) (USD $)	9 Months Ended	12 Months Ended
	Oct. 27, 2012	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Business Segment Information (Textual) [Abstract]
Number of Reportable Business Segments		5
Charge for asset impairments		$ 17,037,000	[1]	$ 2,677,000	$ 8,567,000	[2]
Goodwill		273,827,000		259,759,000
Retail Store Asset Impairments [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		1,400,000		1,100,000	7,200,000
Other Legal Matters [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		100,000		900,000	100,000
Computer Network Intrusion [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments	15,500,000	15,600,000		700,000	1,300,000
Journeys Group [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		0	[1]	0	0	[2]
Journeys Group [Member] | Retail Store Asset Impairments [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		400,000		600,000	5,500,000
Schuh Group [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		0	[1]	0
Goodwill		100,700,000		99,900,000
Goodwill foreign currency translation adjustment				102,900,000
Goodwill, Translation Adjustments		800,000		3,000,000
Lids Sports Group [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		0	[1]	0	0	[2]
Goodwill		172,300,000		159,100,000	152,500,000
Goodwill foreign currency translation adjustment		13,200,000		6,500,000	33,500,000
Lids Sports Group [Member] | Retail Store Asset Impairments [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		900,000		300,000	1,000,000
Johnston & Murphy Group [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		0	[1]	0	0	[2]
Johnston & Murphy Group [Member] | Retail Store Asset Impairments [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		100,000		200,000	700,000
Licensed Brands [Member]
Business Segment Information (Textual) [Abstract]
Charge for asset impairments		0	[1]	0	0	[2]
Goodwill		$ 800,000		$ 800,000	$ 800,000

[1] Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

[2] Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

XML

Legal Proceedings - Gain Contingencies (Details) (Positive Outcome of Litigation [Member], Subsequent Event [Member], USD $) In Millions, unless otherwise specified	Mar. 07, 2013
Positive Outcome of Litigation [Member] | Subsequent Event [Member]
Gain Contingencies [Line Items]
Gain contingency	$ 13.3

XML

Document and Entity Information (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Mar. 15, 2013	Jul. 28, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	GENESCO INC
Entity Central Index Key	0000018498
Document Type	10-K
Document Period End Date	Feb. 02, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--02-02
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,587,000
Entity Common Stock, Shares Outstanding		24,010,616

XML

Defined Benefit Pension Plans and Other Benefit Plans

12 Months Ended

Feb. 02, 2013

Compensation and Retirement Disclosure [Abstract]

Defined Benefit Pension Plans and Other Benefit Plans

Defined Benefit Pension Plans and Other Postretirement Benefit Plans

Defined Benefit Pension Plans

The Company sponsored a non-contributory, defined benefit pension plan. As of January 1, 1996, the Company amended the plan to change the pension benefit formula to a cash balance formula from the then existing benefit calculation based upon years of service and final average pay. The benefits accrued under the old formula were frozen as of December 31, 1995. Upon retirement, the participant will receive this accrued benefit payable as an annuity. In addition, the participant will receive as a lump sum (or annuity if desired) the amount credited to the participant’s cash balance account under the new formula. Effective January 1, 2005, the Company froze the defined benefit cash balance plan which prevents any new entrants into the plan as of that date as well as affects the amounts credited to the participants’ accounts as discussed below.

Under the cash balance formula, beginning January 1, 1996, the Company credited each participants’ account annually with an amount equal to 4% of the participant’s compensation plus 4% of the participant’s compensation in excess of the Social Security taxable wage base. Beginning December 31, 1996 and annually thereafter, the account balance of each active participant was credited with 7% interest calculated on the sum of the balance as of the beginning of the plan year and 50% of the amounts credited to the account, other than interest, for the plan year. The account balance of each participant who was inactive would be credited with interest at the lesser of 7% or the 30 year Treasury rate. Under the frozen plan, each participants’ cash balance plan account will be credited annually only with interest at the 30 year Treasury rate, not to exceed 7%, until the participant retires. The amount credited each year will be based on the rate at the end of the prior year.

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

Other Postretirement Benefit Plans

The Company provides health care benefits for early retirees and life insurance benefits for certain retirees not covered by collective bargaining agreements. Under the health care plan, early retirees are eligible for benefits until age 65. Employees who meet certain requirements are eligible for life insurance benefits upon retirement. The Company accrues such benefits during the period in which the employee renders service.

Obligations and Funded Status

Change in Benefit Obligation

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Benefit obligation at beginning of year	$	118,644		$	110,793		$	3,908		$	3,480
Service cost	350			250			356			166
Interest cost	4,961			5,597			157			174
Plan participants’ contributions	0			0			74			71
Benefits paid	(9,038		)	(8,805		)	(221		)	(242		)
Actuarial loss	4,209			10,809			213			259
Benefit Obligation at End of Year	$	119,126		$	118,644		$	4,487		$	3,908

Change in Plan Assets

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Fair value of plan assets at beginning of year	$	96,443		$	98,887		$	0		$	0
Actual gain on plan assets	11,207			6,111			0			0
Employer contributions	0			250			147			171
Plan participants’ contributions	0			0			74			71
Benefits paid	(9,038		)	(8,805		)	(221		)	(242		)
Fair Value of Plan Assets at End of Year	$	98,612		$	96,443		$	0		$	0
Funded Status at End of Year	$	(20,514	)	$	(22,201	)	$	(4,487	)	$	(3,908	)

Amounts recognized in the Consolidated Balance Sheets consist of:

	Pension Benefits						Other Benefits
In thousands	2013			2012			2013			2012
Noncurrent assets	$	0		$	0		$	0		$	0
Current liabilities	0			0			(160		)	(160		)
Noncurrent liabilities	(20,514		)	(22,201		)	(4,327		)	(3,748		)
Net Amount Recognized	$	(20,514	)	$	(22,201	)	$	(4,487	)	$	(3,908	)

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

Amounts recognized in accumulated other comprehensive income consist of:

	Pension Benefits				Other Benefits
In thousands	2013		2012		2013		2012
Prior service cost	$	0	$	4	$	0	$	0
Net loss	42,879		48,906		566		437
Total Recognized in Accumulated Other Comprehensive Loss	$	42,879	$	48,910	$	566	$	437

In thousands
Pension Benefits	February 2, 2013		January 28, 2012
Projected benefit obligation	$	119,126	$	118,644
Accumulated benefit obligation	119,126		118,644
Fair value of plan assets	98,612		96,443

Components of Net Periodic Benefit Cost

Net Periodic Benefit Cost

	Pension Benefits									Other Benefits
In thousands	2013			2012			2011			2013		2012		2011
Service cost	$	350		$	250		$	250		$	356	$	166	$	144
Interest cost	4,961			5,597			5,897			157		174		170
Expected return on plan assets	(7,003		)	(7,807		)	(8,089		)	—		—		—
Amortization:
Prior service cost	4			4			4			—		—		—
Losses	6,032			4,728			4,235			84		79		59
Net amortization	$	6,036		$	4,732		$	4,239		$	84	$	79	$	59
Net Periodic Benefit Cost	$	4,344		$	2,772		$	2,297		$	597	$	419	$	373

Reconciliation of Accumulated Other Comprehensive Income

	Pension Benefits			Other Benefits
In thousands	2013			2013
Net loss (gain)	$	5		$	(84	)
Amortization of prior service cost	(4		)	—
Amortization of net actuarial (loss) gain	(6,032		)	213
Total Recognized in Other Comprehensive Income	$	(6,031	)	$	129
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	(1,687	)	$	726

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

The estimated net loss and prior service cost for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year

are $6.5 million and $0.0, respectively. The estimated net loss for the other postretirement benefit plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $0.1 million.

Weighted-average assumptions used to determine benefit obligations

	Pension Benefits				Other Benefits
	2013		2012		2013		2012
Discount rate	4.00	%	4.35	%	4.01	%	4.17	%
Rate of compensation increase	NA		NA		—		—

For Fiscal 2013 and 2012, the discount rate was based on a yield curve of high quality corporate bonds with cash flows matching the Company’s planned expected benefit payments.

Weighted-average assumptions used to determine net periodic benefit costs

	Pension Benefits						Other Benefits
	2013		2012		2011		2013		2012		2011
Discount rate	4.35	%	5.25	%	5.625	%	4.17	%	5.25	%	5.50	%
Expected long-term rate of return on plan assets	7.75	%	8.25	%	8.25	%	—		—		—
Rate of compensation increase	NA		NA		NA		—		—		—

The weighted average discount rate used to measure the benefit obligation for the pension plan decreased from 4.35% to 4.00% from Fiscal 2012 to Fiscal 2013. The decrease in the rate increased the accumulated benefit obligation by $4.3 million and increased the projected benefit obligation by $4.3 million. The weighted average discount rate used to measure the benefit obligation for the pension plan decreased from 5.25% to 4.35% from Fiscal 2011 to Fiscal 2012. The decrease in the rate increased the accumulated benefit obligation by $10.4 million and increased the projected benefit obligation by $10.4 million.

To develop the expected long-term rate of return on assets assumption, the Company considered historical asset returns, the current asset allocation and future expectations. Considering this information, the Company selected a 7.75% long-term rate of return on assets assumption.

Assumed health care cost trend rates

	2013		2012
Health care cost trend rate assumed for next year	7.0	%	7.5	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5	%	5	%
Year that the rate reaches the ultimate trend rate	2017		2017

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

The effect on disclosed information of one percentage point change in the assumed health care cost trend rate for each future year is shown below.

In thousands	1% Increase in Rates		1% Decrease in Rates
Aggregated service and interest cost	$	153	$	70
Accumulated postretirement benefit obligation	$	735	$	578

Plan Assets

The Company’s pension plan weighted average asset allocations as of February 2, 2013 and January 28, 2012, by asset category are as follows:

	Plan Assets
	February 2, 2013		January 28, 2012
Asset Category
Equity securities	66	%	63	%
Debt securities	34	%	37	%
Other	0	%	0	%
Total	100	%	100	%

The investment strategy of the Trust is to ensure over the long-term an asset pool, that when combined with Company contributions, will support benefit obligations to participants, retirees and beneficiaries. Investment management responsibilities of plan assets are delegated to outside investment advisers and overseen by an Investment Committee comprised of members of the Company’s senior management that is appointed by the Board of Directors. The Company has an investment policy that provides direction on the implementation of this strategy.

The investment policy establishes a target allocation for each asset class and investment manager. The actual asset allocation versus the established target is reviewed at least quarterly and is maintained within a +/- 5% range of the target asset allocation. Target allocations are 50% domestic equity, 13% international equity, 35% fixed income and 2% cash investments.

All investments are made solely in the interest of the participants and beneficiaries for the exclusive purposes of providing benefits to such participants and their beneficiaries and defraying the expenses related to administering the Trust as determined by the Investment Committee. All assets shall be properly diversified to reduce the potential of a single security or single sector of securities having a disproportionate impact on the portfolio.

The Committee utilizes an outside investment consultant and a team of investment managers to implement its various investment strategies. Performance of the managers is reviewed quarterly and the investment objectives are consistently evaluated.

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

At February 2, 2013 and January 28, 2012, there were no Company related assets in the plan.

Generally, quoted market prices are used to value pension plan assets. Equities, some fixed income securities, publicly traded investment funds and U.S. government obligations are valued at the closing price reported on the active market on which the individual security is traded.

The following tables present the pension plan assets by level within the fair value hierarchy as of February 2, 2013 and January 28, 2012.

February 2, 2013	Level 1			Level 2		Level 3		Total
Equity Securities:
International securities	$	13,757		$	—	$	—	$	13,757
U.S. securities	51,011			—		—		51,011
Fixed Income Securities	33,633			—		—		33,633
Other:
Cash Equivalents	235			—		—		235
Other (includes receivables and payables)	(24		)	—		—		(24		)
Total Pension Plan Assets	$	98,612		$	—	$	—	$	98,612

January 28, 2012	Level 1			Level 2		Level 3		Total
Equity Securities:
International securities	$	11,754		$	—	$	—	$	11,754
U.S. securities	49,321			—		—		49,321
Fixed Income Securities	35,164			—		—		35,164
Other:
Cash Equivalents	267			—		—		267
Other (includes receivables and payables)	(63		)	—		—		(63		)
Total Pension Plan Assets	$	96,443		$	—	$	—	$	96,443

Cash Flows

Return of Assets

There was no return of assets from the plan to the Company in Fiscal year 2013 and no plan assets are projected to be returned to the Company in Fiscal 2014.

Contributions

There was no ERISA cash requirement for the plan in 2012 and none is projected to be required in 2013. It is the Company’s policy to contribute enough cash to maintain at least an 80% funding level.

Note 10

Defined Benefit Pension Plans and Other Postretirement Benefit Plans, Continued

Estimated Future Benefit Payments

Expected benefit payments from the trust, including future service and pay, are as follows:

Estimated future payments	Pension Benefits ($ in millions)		Other benefits ($ in millions)
2013	$	8.7	$	0.2
2014	8.7		0.2
2015	8.4		0.2
2016	8.3		0.2
2017	8.1		0.2
2018 – 2022	38.1		1.3

Section 401(k) Savings Plan

The Company has a Section 401(k) Savings Plan available to employees who have completed one full year of service and are age 21 or older.

Concurrent with the January 1, 1996 amendment to the pension plan (discussed previously), the Company amended the 401(k) savings plan to make matching contributions equal to 50% of each employee’s contribution of up to 5% of salary. Concurrent with freezing the defined benefit pension plan effective January 1, 2005, the Company amended the 401(k) savings plan to change the formula for matching contributions. Since January 1, 2005, the Company has matched 100% of each employee’s contribution of up to 3% of salary and 50% of the next 2% of salary. In addition, for those employees hired before December 31, 2004, who were eligible for the Company’s cash balance retirement plan before it was frozen, the Company annually makes an additional contribution of 2 1/2 % of salary to each employee’s account. In calendar 2005 and future years, participants are immediately vested in their contributions and the Company’s matching contribution plus actual earnings thereon. The contribution expense to the Company for the matching program was approximately $5.3 million for Fiscal 2013, $4.2 million for Fiscal 2012 and $3.8 million for Fiscal 2011.

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Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 11) (Details) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	$ 98,612	$ 96,443
Other Securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	98,612	96,443
Other Securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Other Securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Other Securities [Member] | Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	98,612	96,443
International Equity [Member] | Equity Securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	13,757	11,754
International Equity [Member] | Equity Securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
International Equity [Member] | Equity Securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
International Equity [Member] | Equity Securities [Member] | Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	13,757	11,754
Domestic Equity [Member] | Equity Securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	51,011	49,321
Domestic Equity [Member] | Equity Securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Domestic Equity [Member] | Equity Securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Domestic Equity [Member] | Equity Securities [Member] | Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	51,011	49,321
Fixed Income Securities [Member] | Equity Securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	33,633	35,164
Fixed Income Securities [Member] | Equity Securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Fixed Income Securities [Member] | Equity Securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Fixed Income Securities [Member] | Equity Securities [Member] | Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	33,633	35,164
Cash Equivalents [Member] | Other Securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	235	267
Cash Equivalents [Member] | Other Securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Cash Equivalents [Member] | Other Securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Cash Equivalents [Member] | Other Securities [Member] | Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	235	267
Other Cash Equivalents Includes Receivables And Payables [Member] | Other Securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	(24)	(63)
Other Cash Equivalents Includes Receivables And Payables [Member] | Other Securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Other Cash Equivalents Includes Receivables And Payables [Member] | Other Securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	0	0
Other Cash Equivalents Includes Receivables And Payables [Member] | Other Securities [Member] | Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Pension Plan Assets	$ (24)	$ (63)

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Legal Proceedings - Loss Contingencies (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Feb. 02, 2013	Dec. 10, 2010
Loss Contingencies [Line Items]
Number of claimants	2
Computer Network Intrusion [Member] | Threatened Litigation [Member]
Loss Contingencies [Line Items]
Approximate claims asserted against the company's acquiring bank		$ 15.6
Loss in period	$ 15.4

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Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Net sales	$ 2,604,817	[1]	$ 2,291,987	$ 1,789,839
Cost of sales	1,306,470		1,144,281	891,764
Selling and administrative expenses	1,113,340		1,001,159	803,425
Asset impairments and other, net	17,037	[2]	2,677	8,567	[3]
Earnings from operations	167,970		143,870	86,083
Interest expense, net:
Interest expense	5,126		5,157	1,130
Interest income	(95)		(65)	(8)
Total interest expense, net	5,031		5,092	1,122
Earnings from continuing operations before income taxes	162,939	[1]	138,778	84,961
Income tax expense	51,941		55,794	30,414
Earnings from continuing operations	110,998	[1]	82,984	54,547
Provision for discontinued operations, net	(462)		(1,025)	(1,336)
Net Earnings	$ 110,536	[1]	$ 81,959	$ 53,211
Basic earnings per common share:
Continuing operations (USD per share)	$ 4.70		$ 3.56	$ 2.34
Discontinued operations (USD per share)	$ (0.02)		$ (0.04)	$ (0.06)
Net earnings (USD per share)	$ 4.68		$ 3.52	$ 2.28
Diluted earnings per common share:
Continuing operations (USD per share)	$ 4.62	[1]	$ 3.48	$ 2.29
Discontinued operations (USD per share)	$ (0.02)		$ (0.05)	$ (0.05)
Net earnings (USD per share)	$ 4.60	[1]	$ 3.43	$ 2.24

[1] 53 week period vs. 52 weeks in prior period.

[2] Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

[3] Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

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Inventories

12 Months Ended

Feb. 02, 2013

Inventory Disclosure [Abstract]

Inventories

Inventories

In thousands	February 2, 2013		January 28, 2012
Raw materials	$	24,223	$	30,636
Wholesale finished goods	57,161		53,453
Retail merchandise	423,960		351,024
Total Inventories	$	505,344	$	435,113

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Asset Impairments and Other Charges and Discontinued Operations

12 Months Ended

Feb. 02, 2013

Restructuring and Other Charges and Discontinued Operations [Abstract]

Restructuring and Other Charges and Discontinued Operations

Asset Impairments and Other Charges

In accordance with Company policy, assets are determined to be impaired when the revised estimated future cash flows are insufficient to recover the carrying costs. Impairment charges represent the excess of the carrying value over the fair value of those assets.

Asset impairment charges are reflected as a reduction of the net carrying value of property and equipment, and in asset impairment and other, net in the accompanying Consolidated Statements of Operations.

The Company recorded a pretax charge to earnings of $17.0 million in Fiscal 2013, including $15.6 million for network intrusion expenses, $1.4 million for retail store asset impairments, and $0.1 million for other legal matters.

The Company recorded a pretax charge to earnings of $2.7 million in Fiscal 2012, including $1.1 million for retail store asset impairments, $0.9 million for other legal matters and $0.7 million for network intrusion expenses.

The Company recorded a pretax charge to earnings of $8.6 million in Fiscal 2011, including $7.2 million for retail store asset impairments, $1.3 million for network intrusion expenses and $0.1 million for other legal matters.

Discontinued Operations

In Fiscal 2013, the Company recorded an additional charge to earnings of $0.8 million ($0.5 million net of tax) reflected in discontinued operations, primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company (see Note 13).

In Fiscal 2012, the Company recorded an additional charge to earnings of $1.7 million ($1.0 million net of tax) reflected in discontinued operations, including $1.8 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.1 million gain for excess provisions to prior discontinued operations (see Note 13).

In Fiscal 2011, the Company recorded an additional charge to earnings of $2.2 million ($1.3 million net of tax) reflected in discontinued operations, including $2.9 million primarily for anticipated costs of environmental remedial alternatives related to former facilities operated by the Company, offset by a $0.7 million gain for excess provisions to prior discontinued operations (see Note 13).

Note 3

Asset Impairments and Other Charges and Discontinued Operations, Continued

Accrued Provision for Discontinued Operations
In thousands	Facility Shutdown Costs
Balance January 29, 2011	$	15,035
Additional provision Fiscal 2012	1,692
Charges and adjustments, net	(4,210		)
Balance January 28, 2012	12,517
Additional provision Fiscal 2013	796
Charges and adjustments, net	(1,962		)
Balance February 2, 2013*	11,351
Current provision for discontinued operations	7,192
Total Noncurrent Provision forDiscontinued Operations	$	4,159

*Includes a $11.9 million environmental provision, including $7.7 million in current provision for discontinued operations.

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Quarterly Financial Information (Unaudited)

12 Months Ended

Feb. 02, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

Quarterly Financial Information (Unaudited)

(In thousands,	1st Quarter						2nd Quarter							3rd Quarter						4th Quarter						Fiscal Year
except per share amounts)	2013			2012			2013			2012				2013			2012			2013(a)			2012			2013(b)		2012
Net sales	$	600,144		$	481,502		$	543,522		$	470,591			$	664,458		$	616,525		$	796,693		$	723,369		$	2,604,817	$	2,291,987
Gross margin	306,664			246,786			273,022			235,771				334,348			310,457			384,313			354,692			1,298,347		1,147,706
Earnings from continuing operations before income taxes	34,890		(1)	25,011		(3)	15,748		(5)	570			(6)	51,077		(8)	44,043		(10)	61,224		(12)	69,154		(14)	162,939		138,778
Earnings from continuing operations	20,791			14,975			10,561			350				40,969			26,161			38,677			41,498			110,998		82,984
Net earnings (loss)	20,614		(2)	14,793		(4)	10,520			(392		)	(7)	40,875		(9)	26,088		(11)	38,527		(13)	41,470			110,536		81,959
Diluted earnings (loss) per common share:
Continuing operations	0.86			0.63			0.44			0.01				1.71			1.09			1.63			1.72			4.62		3.48
Net earnings (loss)	0.85			0.63			0.43			(0.02		)		1.70			1.09			1.62			1.72			4.60		3.43

(1) Includes a net asset impairment and other charge of $0.1 million (see Note 3). (a) 14 week period vs. 13

(2) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3). weeks in prior period.

(3) Includes a net asset impairment and other charge of $1.2 million (see Note 3). (b) 53 week period vs. 52

(4) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3). weeks in prior period.

(5) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(6) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(7) Includes a loss of $0.7 million, net of tax, from discontinued operations (see Note 3).

(8) Includes a net asset impairment and other charge of $0.4 million (see Note 3).

(9) Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

(10) Includes a net asset impairment and other charge of $0.3 million (see Note 3).

(11) Includes a loss of $0.1 million, net of tax, from discontinued operations (see Note 3).

(12) Includes a net asset impairment and other charge of $16.1 million (see Note 3).

(13) Includes a loss of $0.2 million, net of tax, from discontinued operations (see Note 3).

(14) Includes a net asset impairment and other charge of $0.8 million (see Note 3).

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Earnings Per Share

12 Months Ended

Feb. 02, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

	For the Year Ended February 2, 2013						For the Year Ended January 28, 2012						For the Year Ended January 29, 2011
(In thousands, except per share amounts)	Income (Numerator)			Shares (Denominator)	Per-Share Amount		Income (Numerator)			Shares (Denominator)	Per-Share Amount		Income (Numerator)			Shares (Denominator)	Per-Share Amount
Earnings from continuing operations	$	110,998					$	82,984					$	54,547
Less: Preferred stock dividends	(147		)				(193		)				(197		)
Basic EPS from continuing operations
Income available to common shareholders	110,851			23,584	$	4.70	82,791			23,234	$	3.56	54,350			23,209	$	2.34
Effect of Dilutive Securities from continuing operations
Options and restricted stock				372						511						431
Convertible preferred stock(1)	88			34			141			55			58			26
Employees’ preferred stock(2)				47						48						50
Diluted EPS
Income available to common shareholders plus assumed conversions	$	110,939		24,037	$	4.62	$	82,932		23,848	$	3.48	$	54,408		23,716	$	2.29

(1) The amount of the dividend on the convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings per share for Series 1, 3 and 4 preferred stocks for Fiscal 2013 and 2012. Therefore, conversion of these convertible preferred stocks were included in diluted earnings per share for Fiscal 2013 and 2012. The amount of the dividend on Series 3 convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings for Fiscal 2011. Therefore, conversion of Series 3 preferred shares were included in diluted earnings per share for Fiscal 2011. The amount of the dividend on Series 1 and Series 4 convertible preferred stock per common share obtainable on conversion of the preferred stock was higher than basic earnings for Fiscal 2011. Therefore, conversion of Series 1 and Series 4 preferred shares were not reflected in diluted earnings per share for Fiscal 2011 because it would have been antidilutive. The shares convertible to common stock for Series 1, 3 and 4 preferred stock would have been 13,502 and 15,575 and 4,920, respectively, as of February 2, 2013.

(2) The Company’s Employees’ Subordinated Convertible Preferred Stock is convertible one for one to the Company’s common stock. Because there are no dividends paid on this stock, these shares are assumed to be converted.

All outstanding options to purchase shares of common stock at the end of Fiscal 2013 and 2012 were included in the computation of diluted earnings per share because the options’ exercise prices were less than the average market price of the common shares.

Options to purchase 12,000 shares of common stock at $32.65 per share, 71,428 shares of common stock at $36.40 per share, 1,945 shares of common stock at $40.05 per share, 103,474 shares of common stock at $38.14 per share, 951 shares of common stock at $37.41 per share and 2,351 shares of common stock at $42.82 per share were outstanding at the end of Fiscal 2011 but were not included in the computation of diluted earnings per share because the options’ exercise prices were greater than the average market price of the common shares.

Note 11

Earnings Per Share, Continued

The weighted shares outstanding reflects the effect of stock buy back programs. The Company repurchased 645,904 shares at a cost of $37.7 million during Fiscal 2013. The Company has $58.2 million remaining under its current $75.0 million share repurchase authorization. The Company did not repurchase any shares during Fiscal 2012. The Company repurchased 863,767 shares at a cost of $24.8 million during Fiscal 2011.

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Earnings Per Share (Details Textual) (USD $)	12 Months Ended
	Feb. 02, 2013		Jan. 28, 2012		Jan. 29, 2011
Earnings Per Share (Textual) [Abstract]
Convertible preferred stock (in shares)	34,000	[1]	55,000	[1]	26,000	[1]
Common convertible ratio	1
Shares repurchased	645,904				863,767
Value of shares repurchased	$ 37,650,000				$ 24,825,000
Remaining authorized repurchase amount for stock repurchase program	58,200,000
Total authorized repurchase amount for stock repurchase program	$ 75,000,000
Convertible Preferred Stock Series 1 [Member]
Earnings Per Share (Textual) [Abstract]
Convertible preferred stock (in shares)	13,502
Convertible Preferred Stock Series 3 [Member]
Earnings Per Share (Textual) [Abstract]
Convertible preferred stock (in shares)	15,575
Convertible Preferred Stock Series 4 [Member]
Earnings Per Share (Textual) [Abstract]
Convertible preferred stock (in shares)	4,920
Common Stock Series One [Member]
Earnings Per Share (Textual) [Abstract]
Options to purchase common stock (in shares)					12,000
Options price per share (USD per share)					$ 32.65
Common Stock Series Two [Member]
Earnings Per Share (Textual) [Abstract]
Options to purchase common stock (in shares)					71,428
Options price per share (USD per share)					$ 36.40
Common Stock Series Three [Member]
Earnings Per Share (Textual) [Abstract]
Options to purchase common stock (in shares)					1,945
Options price per share (USD per share)					$ 40.05
Common Stock Series Four [Member]
Earnings Per Share (Textual) [Abstract]
Options to purchase common stock (in shares)					103,474
Options price per share (USD per share)					$ 38.14
Common Stock Series Five [Member]
Earnings Per Share (Textual) [Abstract]
Options to purchase common stock (in shares)					951
Options price per share (USD per share)					$ 37.41
Common Stock Series Six [Member]
Earnings Per Share (Textual) [Abstract]
Options to purchase common stock (in shares)					2,351
Options price per share (USD per share)					$ 42.82

[1] The amount of the dividend on the convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings per share for Series 1, 3 and 4 preferred stocks for Fiscal 2013 and 2012. Therefore, conversion of these convertible preferred stocks were included in diluted earnings per share for Fiscal 2013 and 2012. The amount of the dividend on Series 3 convertible preferred stock per common share obtainable on conversion of the convertible preferred stock was less than basic earnings for Fiscal 2011. Therefore, conversion of Series 3 preferred shares were included in diluted earnings per share for Fiscal 2011. The amount of the dividend on Series 1 and Series 4 convertible preferred stock per common share obtainable on conversion of the preferred stock was higher than basic earnings for Fiscal 2011. Therefore, conversion of Series 1 and Series 4 preferred shares were not reflected in diluted earnings per share for Fiscal 2011 because it would have been antidilutive. The shares convertible to common stock for Series 1, 3 and 4 preferred stock would have been 13,502 and 15,575 and 4,920, respectively, as of February 2, 2013.

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Commitments Under Long-Term Leases

12 Months Ended

Feb. 02, 2013

Leases [Abstract]

Commitments Under Long-Term Leases

Commitments Under Long-Term Leases

Operating Leases

The Company leases its office space and all of its retail store locations and transportation equipment under various noncancelable operating leases. The leases have varying terms and expire at various dates through 2030. The store leases in the United States, Puerto Rico and Canada typically have initial terms of between 5 and 10 years. The stores leases in the United Kingdom and the Republic of Ireland typically have initial terms of between 10 and 20 years. Generally, most of the leases require the Company to pay taxes, insurance, maintenance costs and contingent rentals based on sales. Approximately 4% of the Company’s leases contain renewal options.

Rental expense under operating leases of continuing operations was:

In thousands	2013			2012			2011
Minimum rentals	$	215,516		$	192,175		$	167,558
Contingent rentals	14,786			12,918			5,827
Sublease rentals	(667		)	(686		)	(642		)
Total Rental Expense	$	229,635		$	204,407		$	172,743

Minimum rental commitments payable in future years are:

Fiscal Years	In thousands
2014	$	223,495
2015	210,019
2016	191,642
2017	159,488
2018	127,982
Later years	342,534
Total Minimum Rental Commitments	$	1,255,160

For leases that contain predetermined fixed escalations of the minimum rentals, the related rental expense is recognized on a straight-line basis and the cumulative expense recognized on the straight-line basis in excess of the cumulative payments is included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets. The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are recorded as deferred rent and amortized as a reduction of rent expense over the initial lease term. Tenant allowances of $20.0 million and $17.6 million for Fiscal 2013 and 2012, respectively, and deferred rent of $37.9 million and $35.2 million for Fiscal 2013 and 2012, respectively, are included in deferred rent and other long-term liabilities on the Consolidated Balance Sheets.

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Equity (Details 1) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Preferred stock transactions
Preferred Stock, Value, Issued, Beginning Balance	$ 4,957	$ 5,183	$ 5,220
Other preferred stock value	(1,033)	(226)	(37)
Preferred Stock, Value, Issued, Ending Balance	3,924	4,957	5,183
Non-Redeemable Preferred Stock [Member]
Preferred stock transactions
Preferred Stock, Value, Issued, Beginning Balance	3,621	3,816	3,833
Other preferred stock value	(1,006)	(195)	(17)
Preferred Stock, Value, Issued, Ending Balance	2,615	3,621	3,816
Employees Subordinated Convertible Preferred Stock [Member]
Preferred stock transactions
Preferred Stock, Value, Issued, Beginning Balance	1,437	1,476	1,510
Other preferred stock value	(32)	(39)	(34)
Preferred Stock, Value, Issued, Ending Balance	1,405	1,437	1,476
Employees' Preferred Stock Purchase Accounts [Member]
Preferred stock transactions
Preferred Stock, Value, Issued, Beginning Balance	(101)	(109)	(123)
Other preferred stock value	5	8	14
Preferred Stock, Value, Issued, Ending Balance	$ (96)	$ (101)	$ (109)

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Fair Value

12 Months Ended

Feb. 02, 2013

Fair Value Disclosures [Abstract]

Fair Value

Fair Value

The Fair Value Measurements and Disclosures Topic of the Codification defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements. This Topic defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The following table presents the Company’s assets and liabilities measured at fair value on a nonrecurring basis as of February 2, 2013 aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands):

	Long-Lived Assets Held and Used		Level 1		Level 2		Level 3		Impairment Charges
Measured as of April 28, 2012	$	47	$	—	$	—	$	47	$	46
Measured as of July 28, 2012	$	54	$	—	$	—	$	54	$	391
Measured as of October 27, 2012	$	211	$	—	$	—	$	211	$	283
Measured as of February 2, 2013	$	131	$	—	$	—	$	131	$	676

In accordance with the Property, Plant and Equipment Topic of the Codification, the Company recorded $1.4 million of impairment charges as a result of the fair value measurement of its long-lived assets held and used on a nonrecurring basis during the twelve months ended February 2, 2013. These charges are reflected in asset impairments and other, net on the Consolidated Statements of Operations.

The Company used a discounted cash flow model to estimate the fair value of these long-lived assets. Discount rate and growth rate assumptions are derived from current economic conditions, expectations of management and projected trends of current operating results. As a result, the Company has determined that the majority of the inputs used to value its long-lived assets held and used are unobservable inputs that fall within Level 3 of the fair value hierarchy.

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Long-Term Debt

12 Months Ended

Feb. 02, 2013

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

In thousands	February 2, 2013		January 28, 2012
Revolver borrowings	$	27,700	$	5,000
UK term loans	22,982		35,704
Total long-term debt	50,682		40,704
Current portion	5,675		8,773
Total Noncurrent Portion of Long-Term Debt	$	45,007	$	31,931

Long-term debt maturing during each of the next five years ending in January each year is $5.7 million, $5.5 million, $39.5 million, $0.0 million and $0.0 million.

The Company had $27.7 million revolver borrowings outstanding under the Credit Facility at February 2, 2013 and $23.0 million in term loans outstanding under the U.K. Credit Facilities (described below) at February 2, 2013. The Company had outstanding letters of credit of $12.3 million under the Credit Facility at February 2, 2013. These letters of credit support product purchases and lease and insurance indemnifications.

Credit Facility:

On June 23, 2011, the Company entered into a First Amendment (the “Amendment”) to the Second Amended and Restated Credit Agreement (the “Credit Facility”) dated January 21, 2011 by and among the Company, certain subsidiaries of the Company party thereto, as other borrowers, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent. The Amendment raised the aggregate principal amount on the credit facility to $375.0 million from $300.0 million. The Credit Facility was amended to permit the Schuh acquisition (see Note 2). The Credit Facility expires January 21, 2016.

Deferred financing costs incurred of $3.0 million related to the Credit Facility were capitalized and are being amortized over five years. Deferred financing costs incurred of $0.7 million related to the Amendment were also capitalized and are being amortized over five years. These costs are included in other non-current assets on the Consolidated Balance Sheets.

The material terms of the Credit Facility, as amended, are as follows:

Availability

The amended Credit Facility is a revolving credit facility in the aggregate principal amount of $375.0 million, with a $40.0 million swingline loan sublimit, a $70.0 million sublimit for the issuance of standby letters of credit and a Canadian sub-facility of up to $8.0 million. The Company canceled its Tranche A-1 sublimit of up to $30.0 million as of December 27, 2011. The facility has a five-year term. Any swingline loans and any letters of credit and borrowings under the Canadian facility will reduce the availability under the Credit Facility on a dollar-for-dollar basis. In addition, the Company has an option to increase the availability under the Credit Facility by up to $75.0 million subject to, among

Note 6

Long-Term Debt, Continued

other things, the receipt of commitments for the increased amount. The aggregate amount of the loans made and letters of credit issued under the Credit Facility shall at no time exceed the lesser of the facility amount ($375.0 million or, if increased at the Company’s option, subject to the receipt of commitments for the increased amount, up to $450.0 million) or the “Borrowing Base”, which generally is based on 90% of eligible inventory plus 85% of eligible wholesale receivables (50% of eligible wholesale receivables of the Lids Team Sports business) plus 90% of eligible credit card and debit card receivables less applicable reserves.

Collateral

The loans and other obligations under the Credit Facility are secured by a perfected first priority lien and security interest in all tangible and intangible assets and excludes real estate and leaseholds of the Company and certain subsidiaries of the Company. In addition, with the amendment to the Credit Facility, the Company pledged 65% of its interest in Genesco (UK) Limited.

Interest and Fees

The Company’s borrowings under the Credit Facility bear interest at varying rates that, at the Company’s option, can be based on:

Domestic Facility

(a) LIBOR plus the applicable margin (as defined and based on average Excess Availability during the prior quarter) or (b) the applicable margin plus the higher of (i) the Bank of America prime rate, (ii) the federal funds rate plus 0.50% or (iii) LIBOR for an interest period of thirty days plus 1.0%.

The initial applicable margin for base rate loans and U.S. Index rate loans is 1.25% and the initial applicable margin for LIBOR loans and BA (defined below) equivalent loans is 2.25%. Thereafter, the applicable margin will be subject to adjustment based on “Excess Availability” for the prior quarter. The term “Excess Availability” means, as of any given date, the excess (if any) of the Loan Cap (being the lesser of the total commitments and the Borrowing Base) over the outstanding credit extensions under the Credit Facility.

Interest on the Company’s borrowings is payable monthly in arrears for base rate loans and U.S. Index rate loans and at the end of each interest rate period (but not less often than quarterly) for LIBOR loans and BA equivalent loans.

The Company is also required to pay a commitment fee on the actual daily unused portions of the Credit Facility at a rate of (i) 0.50% per annum if less than 50% of the Credit Facility has been utilized on average during the immediately preceding fiscal quarter or (ii) 0.375% per annum if 50% or more of the Credit Facility has been utilized during such fiscal quarter.

Canadian Sub-Facility

(a) For loans made in Canadian dollars, the bankers’ acceptances (“BA”) rate plus the applicable margin or (b) the Canadian Prime Rate (defined as the highest of the (i) Bank of America Canadian Prime Rate, (ii) 0.50% plus the Bank of America (Canadian) overnight rate, and (iii) 1.0% plus the

Note 6

Long-Term Debt, Continued

BA rate for a 30 day interest period) plus the applicable margin for loans made in U.S. dollars, LIBOR plus the applicable margin or the U.S. Index Rate (defined as the highest of the (i) Bank of America (Canada branch) U.S. dollar base rate, (ii) the Federal Funds rate plus 0.50%, and (iii) LIBOR for an interest period of thirty days plus 1.0%) plus the applicable margin.

Certain Covenants

The Company is not required to comply with any financial covenants unless Excess Availability is less than the greater of $27.5 million or 12.5% of the Loan Cap. If and during such time as Excess Availability is less than the greater of $27.5 million or 12.5% of the Loan Cap, the Credit Facility requires the Company to meet a minimum fixed charge coverage ratio of (a) an amount equal to consolidated EBITDA less capital expenditures and taxes paid in cash, in each case for such period, to (b) fixed charges for such period, of not less than 1.0:1.0. Excess Availability was $292.8 million at February 2, 2013. Because Excess Availability exceeded $27.5 million or 12.5% of the Loan Cap, the Company was not required to comply with this financial covenant at February 2, 2013.

In addition, the Credit Facility contains certain covenants that, among other things, restrict additional indebtedness, liens and encumbrances, loans and investments, acquisitions, dividends and other restricted payments, transactions with affiliates, asset dispositions, mergers and consolidations, prepayments or material amendments of other indebtedness and other matterscustomarily restricted in such agreements. The Credit Facility, as amended, permits the Company to incur up to $250.0 million of senior debt provided that certain terms and conditions are met.

Cash Dominion

The Credit Facility also contains cash dominion provisions that apply in the event that the Company’s Excess Availability is less than the greater of $35.0 million or 15% of the Loan Cap or there is an event of default under the Credit Facility.

Events of Default

The Credit Facility contains customary events of default, including, without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to certain other material indebtedness in excess of specified amounts and to agreements which would have a material adverse effect if breached, certain events of bankruptcy and insolvency, certain ERISA events, judgments in excess of specified amounts and change in control.

Certain of the lenders under the Credit Facility or their affiliates have provided, and may in the future provide, certain commercial banking, financial advisory, and investment banking services in the ordinary course of business for the Company, its subsidiaries and certain of its affiliates, for which they receive customary fees and commissions.

U.K. Credit Facility

In connection with the Schuh acquisition, Schuh entered into an amended and restated Senior Term Facilities Agreement and Working Capital Facility Letter, (collectively, the “UK Credit Facilities”)

Note 6

Long-Term Debt, Continued

which provide for term loans of up to £29.5 million (a £15.5 million A term loan and £14.0 million B term loan) and a working capital facility of £5.0 million. The Working Capital Facility Letter was allowed to lapse in June 2012. The A term loan bears interest at LIBOR plus 2.50% per annum. The B term loan bears interest at LIBOR plus 3.75% per annum. The Company is not required to make any payments on the B term loan until it expires October 31, 2015, unless the Company’s Schuh Group segment has Excess Cash Flow (as defined in the UK Credit Facilities). The Company paid £4.8 million and £4.5 million on the B term loan in Fiscal 2013 and 2012, respectively.

The UK Credit Facilities contains certain covenants at the Schuh level including a minimum interest coverage covenant initially set at 4.25x and increasing to 4.50x in January 2012 and thereafter, a maximum leverage covenant initially set at 2.75x declining over time at various rates to 2.25x beginning in July 2012 and a minimum cash flow coverage of 1.10x. The Company was in compliance with all the covenants at February 2, 2013. The UK Credit Facilities are secured by a pledge of all the assets of Schuh and its subsidiaries.

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Equity

12 Months Ended

Feb. 02, 2013

Equity [Abstract]

Equity

Equity

Non-Redeemable Preferred Stock

	Shares Authorized		Number of Shares			Amounts in Thousands									Common Convertible Ratio		No. of Votes per share
Class (In order of preference)*			2013	2012	2011	2013			2012			2011
Subordinated Serial Preferred (Cumulative)
Aggregate	3,000,000	**	0	0	0	—			—			—			N/A		N/A
$2.30 Series 1	64,368		16,203	30,368	33,497	$	648		$	1,215		$	1,340		.83		1
$4.75 Series 3	40,449		7,398	11,643	12,163	740			1,164			1,216			2.11		2
$4.75 Series 4	53,764		3,247	3,397	3,579	325			340			358			1.52		1
Series 6	800,000		0	0	0	0			0			0					100
$1.50 Subordinated Cumulative Preferred	5,000,000		30,067	30,067	30,067	902			902			902					1
			56,915	75,475	79,306	2,615			3,621			3,816
Employees’ Subordinated Convertible Preferred	5,000,000		46,852	47,922	49,192	1,405			1,437			1,476			1.00	***	1
Stated Value of Issued Shares						4,020			5,058			5,292
Employees’ Preferred Stock Purchase Accounts						(96		)	(101		)	(109		)
Total Non-Redeemable Preferred Stock						$	3,924		$	4,957		$	5,183

*    In order of preference for liquidation and dividends.

** The Company’s charter permits the board of directors to issue Subordinated Serial Preferred Stock in as many series, each with as many shares and such rights and preferences as the board may designate.

***    Also convertible into one share of $1.50 Subordinated Cumulative Preferred Stock.

Note 8

Equity, Continued

Preferred Stock Transactions

In thousands	Non-Redeemable Preferred Stock			Non-Redeemable Employees’ Preferred Stock			Employees’ Preferred Stock Purchase Accounts			Total Non-Redeemable Preferred Stock
Balance January 30, 2010	$	3,833		$	1,510		$	(123	)	$	5,220
Other	(17		)	(34		)	14			(37		)
Balance January 29, 2011	3,816			1,476			(109		)	5,183
Other	(195		)	(39		)	8			(226		)
Balance January 28, 2012	3,621			1,437			(101		)	4,957
Other	(1,006		)	(32		)	5			(1,033		)
Balance February 2, 2013	$	2,615		$	1,405		$	(96	)	$	3,924

Subordinated Serial Preferred Stock (Cumulative):

Stated and redemption values for Series 1 are $40 per share and for Series 3 and 4 are each $100 per share plus accumulated dividends; liquidation value for Series 1 is $40 per share plus accumulated dividends and for Series 3 and 4 is $100 per share plus accumulated dividends.

The Company’s shareholders’ rights plan grants to common shareholders the right to purchase, at a specified exercise price, a fraction of a share of subordinated serial preferred stock, Series 6, in the event of an acquisition of, or an announced tender offer for, 15% or more of the Company’s outstanding common stock. Upon any such event, each right also entitles the holder (other than the person making such acquisition or tender offer) to purchase, at the exercise price, shares of common stock having a market value of twice the exercise price. In the event the Company is acquired in a transaction in which the Company is not the surviving corporation, each right would entitle its holder to purchase, at the exercise price, shares of the acquiring company having a market value of twice the exercise price. The rights expire in March 2020, are redeemable under certain circumstances for $.01 per right and are subject to exchange for one share of common stock or an equivalent amount of preferred stock at any time after the event which makes the rights exercisable and before a majority of the Company’s common stock is acquired.

$1.50 Subordinated Cumulative Preferred Stock:

Stated and liquidation values and redemption price are 88 times the average quarterly per share dividend paid on common stock for the previous eight quarters (if any), but in no event less than $30 per share plus accumulated dividends.

Employees’ Subordinated Convertible Preferred Stock:

Stated and liquidation values are 88 times the average quarterly per share dividend paid on common stock for the previous eight quarters (if any), but in no event less than $30 per share.

Note 8

Equity, Continued

Common Stock:

Common stock-$1 par value. Authorized: 80,000,000 shares; issued: February 2, 2013 – 24,484,915 shares; January 28, 2012 –24,757,826 shares. There were 488,464 shares held in treasury at February 2, 2013 and January 28, 2012. Each outstanding share is entitled to one vote. At February 2, 2013, common shares were reserved as follows: 80,848 shares for conversion of preferred stock; 186,835 shares for the 1996 Stock Incentive Plan; 76,320 shares for the 2005 Stock Incentive Plan; 1,585,443 shares for the 2009 Amended and Restated Stock Incentive Plan; and 313,438 shares for the Genesco Employee Stock Purchase Plan.

For the year ended February 2, 2013, 223,618 shares of common stock were issued for the exercise of stock options at an average weighted exercise price of $21.50, for a total of $4.8 million; 194,232 shares of common stock were issued as restricted shares as part of the 2009 Amended and Restated Equity Incentive Plan; 2,463 shares of common stock were issued for the purchase of shares under the Employee Stock Purchase Plan at an average weighted market price of $63.84, for a total of $0.2 million; 10,224 shares were issued to directors for no consideration; 75,552 shares were withheld for taxes on restricted stock vested in Fiscal 2013; 4,020 shares of restricted stock were forfeited in Fiscal 2013; and 22,028 shares were issued in miscellaneous conversions of Series 1, 3, 4 and Employees’ Subordinated Convertible Preferred Stock. The 223,618 options exercised were all fixed stock options (see Note 12). In addition, the Company repurchased and retired 645,904 shares of common stock at an average weighted market price of $58.29 for a total of $37.6 million.

For the year ended January 28, 2012, 390,357 shares of common stock were issued for the exercise of stock options at an average weighted exercise price of $24.82, for a total of $9.7 million; 289,407 shares of common stock were issued as restricted shares as part of the 2009 Amended and Restated Equity Incentive Plan; 2,717 shares of common stock were issued for the purchase of shares under the Employee Stock Purchase Plan at an average weighted market price of $48.95, for a total of $0.1 million; 14,643 shares were issued to directors for no consideration; 93,089 shares were withheld for taxes on restricted stock vested in Fiscal 2012; 14,081 shares of restricted stock were forfeited in Fiscal 2012; and 5,238 shares were issued in miscellaneous conversions of Series 1, 3, 4 and Employees’ Subordinated Convertible Preferred Stock. The 390,357 options exercised were all fixed stock options (see Note 12).

For the year ended January 29, 2011, 118,450 shares of common stock were issued for the exercise of stock options at an average weighted exercise price of $18.77, for a total of $2.2 million; 404,995 shares of common stock were issued as restricted shares as part of the 2009 Equity Incentive Plan; 4,230 shares of common stock were issued for the purchase of shares under the Employee Stock Purchase Plan at an average weighted market price of $28.39, for a total of $0.1 million; 17,838 shares were issued to directors for no consideration; 81,731 shares were withheld for taxes on restricted stock vested in Fiscal 2011; 1,575 shares of restricted stock were forfeited in Fiscal 2011; and 1,501 shares were issued in miscellaneous conversions of Series 3 and Employees’ Subordinated Convertible Preferred Stock. The 118,450 options exercised were all fixed stock options (see Note 12). In addition, the Company repurchased and retired 863,767 shares of common stock at an average weighted market price of $28.74 for a total of $24.8 million.

Note 8

Equity, Continued

Restrictions on Dividends and Redemptions of Capital Stock:

The Company’s charter provides that no dividends may be paid and no shares of capital stock acquired for value if there are dividend or redemption arrearages on any senior or equally ranked stock. Exchanges of subordinated serial preferred stock for common stock or other stock junior to such exchanged stock are permitted.

The Company’s Credit Facility prohibits the payment of dividends and other restricted payments unless as of the date of the making of any Restricted Payment or consummation of any Acquisition, (a) no Default or Event of Default exists or would arise after giving effect to such Restricted Payment or Acquisition, and (b) either (i) the Borrowers have pro forma projected Excess Availability for the following six month period equal to or greater than 50% of the Loan Cap, after giving pro forma effect to such Restricted Payment or Acquisition, or (ii) (A) the Borrowers have pro forma projected Excess Availability for the following six month period of less than 50% of the Loan Cap but equal to or greater than 20% of the Loan Cap, after giving pro forma effect to the Restricted Payment or Acquisition, and (B) the Fixed Charge Coverage Ratio, on a pro-forma basis for the twelve months preceding such Restricted Payment or Acquisition, will be equal to or greater than 1.0:1.0and (c) after giving effect to such Restricted Payment or Acquisition, the Borrowers are Solvent. The Company’s management does not expect availability under the Credit Facility to fall below the requirements listed above during Fiscal 2014. The Company’s UK Credit Facility prohibits the payment of any dividends by Schuh or its subsidiaries to the Company.

 Dividends declared for Fiscal 2013 for the Company’s Subordinated Serial Preferred Stock, $2.30 Series 1, $4.75 Series 3 and $4.75 Series 4, and the Company’s $1.50 Subordinated Cumulative Preferred Stock were $0.1 million in the aggregate.

Note 8

Equity, Continued

Changes in the Shares of the Company’s Capital Stock

	Common Stock		Non- Redeemable Preferred Stock		Employees’ Preferred Stock
Issued at January 30, 2010	24,562,693		79,469		50,350
Exercise of options	118,450		0		0
Issue restricted stock	422,833		0		0
Issue shares—Employee Stock Purchase Plan	4,230		0		0
Shares repurchased	(863,767	)	0		0
Other	(81,805	)	(163	)	(1,158	)
Issued at January 29, 2011	24,162,634		79,306		49,192
Exercise of options	390,357		0		0
Issue restricted stock	304,050		0		0
Issue shares—Employee Stock Purchase Plan	2,717		0		0
Other	(101,932	)	(3,831	)	(1,270	)
Issued at January 28, 2012	24,757,826		75,475		47,922
Exercise of options	223,618		0		0
Issue restricted stock	204,456		0		0
Issue shares—Employee Stock Purchase Plan	2,463		0		0
Shares repurchased	(645,904	)	0		0
Other	(57,544	)	(18,560	)	(1,070	)
Issued at February 2, 2013	24,484,915		56,915		46,852
Less shares repurchased and held in treasury	488,464		0		0
Outstanding at February 2, 2013	23,996,451		56,915		46,852

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Income Taxes (Details 1) (USD $) In Thousands, unless otherwise specified	Feb. 02, 2013	Jan. 28, 2012
Deferred tax assets and liabilities
Identified intangibles	$ (28,076)	$ (28,125)
Prepaids	(2,943)	(2,814)
Convertible bonds	(3,001)	(3,001)
Total deferred tax liabilities	(34,020)	(33,940)
Options	965	1,289
Deferred rent	5,847	7,043
Pensions	8,321	8,936
Expense accruals	24,483	17,146
Uniform capitalization costs	12,539	9,893
Book over tax depreciation	13,783	11,756
Provisions for discontinued operations and restructurings	4,745	5,201
Inventory valuation	2,015	2,397
Tax net operating loss and credit carryforwards	3,535	8,306
Allowances for bad debts and notes	1,598	1,641
Deferred compensation and restricted stock	6,382	5,174
Other	3,500	5,460
Gross deferred tax assets	87,713	84,242
Deferred tax asset valuation allowance	(3,541)	(3,790)
Deferred tax asset net of valuation allowance	84,172	80,452
Net Deferred Tax Assets	$ 50,152	$ 46,512

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Share-Based Compensation Plans (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Summary of stock option activity
Outstanding Shares, Beginning balance	486,773		877,130	995,580
Granted, Shares	0		0	0
Exercised, Shares	(223,618)		(390,357)	(118,450)
Forfeited, Shares	0		0	0
Outstanding Shares, Ending balance	263,155		486,773	877,130
Exercisable, Shares	263,155
Summary of stock option activity, weighted average exercise price
Outstanding, Weighted-Average Exercise Price, Beginning balance (USD per share)	$ 24.70		$ 24.75	$ 24.04
Granted, Weighted-Average Exercise Price (USD per share)	$ 0.00		$ 0.00	$ 0.00
Exercised, Weighted-Average Exercise Price (USD per share)	$ 21.50		$ 24.82	$ 18.77
Forfeited, Weighted-Average Exercise Price (USD per share)	$ 0.00		$ 0.00	$ 0.00
Outstanding, Weighted-Average Exercise Price, Ending balance (USD per share)	$ 27.43		$ 24.70	$ 24.75
Exercisable, Weighted-Average Exercise Price (USD per share)	$ 27.43
Outstanding, Weighted-Average Remaining Contractual Term	1 year 11 months 23 days
Exercisable, Weighted-Average Remaining Contractual Term	1 year 11 months 23 days
Outstanding, Aggregate Intrinsic Value	$ 9,317	[1]
Exercisable, Aggregate Intrinsic Value	$ 9,317	[1]

[1] Based upon the difference between the closing market price of the Company’s common stock on the last trading day of the year and the grant price of in-the-money options.

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Income Taxes (Details 3)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Reconciliation of the United States federal statutory rate to the Company's effective tax rate from continuing operations
U. S. federal statutory rate of tax	35.00%	35.00%	35.00%
State taxes (net of federal tax benefit)	3.17%	3.53%	2.59%
Foreign rate differential	(1.78%)	(1.92%)	0.00%
Change in valuation allowance	(0.17%)	0.71%	0.00%
Permanent items	2.00%	2.35%	(0.83%)
Uncertain tax positions	(5.80%)	0.00%	(1.56%)
Other	(0.54%)	0.53%	0.60%
Effective Tax Rate	31.88%	40.20%	35.80%

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Income Taxes (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Current
U.S. federal	$ 50,859	$ 42,103	$ 35,103
International	10,072	2,007	1,474
State	8,841	8,952	5,703
Total Current Income Tax Expense	69,772	53,062	42,280
Deferred
U.S. federal	(7,445)	(175)	(8,165)
International	(7,148)	4,370	0
State	(3,238)	(1,463)	(3,701)
Total Deferred Income Tax Expense (Benefit)	(17,831)	2,732	(11,866)
Total Income Tax Expense - Continuing Operations	$ 51,941	$ 55,794	$ 30,414

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Business Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended																12 Months Ended
	Feb. 02, 2013		Oct. 27, 2012		Jul. 28, 2012		Apr. 28, 2012		Jan. 28, 2012		Oct. 29, 2011		Jul. 30, 2011		Apr. 30, 2011		Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Segment reporting information by segment
Sales																	$ 2,606,898		$ 2,292,611	$ 1,790,223
Intercompany sales																	(2,081)		(624)	(384)
Net sales to external customers	796,693	[1]	664,458		543,522		600,144		723,369		616,525		470,591		481,502		2,604,817	[2]	2,291,987	1,789,839
Segment operating income (loss)																	185,007		146,547	94,650
Asset Impairments and other																	(17,037)	[3]	(2,677)	(8,567)	[4]
Earnings from operations																	167,970		143,870	86,083
Interest expense																	(5,126)		(5,157)	(1,130)
Interest income																	95		65	8
Earnings from continuing operations before income taxes	61,224	[1],[5]	51,077	[6]	15,748	[6]	34,890	[7]	69,154	[8]	44,043	[9]	570	[6]	25,011	[10]	162,939	[2]	138,778	84,961
Assets	1,333,789	[11]							1,237,265								1,333,789	[11]	1,237,265	961,082	[12]
Depreciation and amortization																	63,697		53,737	47,738
Capital expenditures																	71,737		49,456	29,299
Journeys Group [Member]
Segment reporting information by segment
Sales																	1,111,490		1,020,116	898,500
Intercompany sales																	0		0	0
Net sales to external customers																	1,111,490		1,020,116	898,500
Segment operating income (loss)																	106,929		82,452	49,642
Asset Impairments and other																	0	[3]	0	0	[4]
Earnings from operations																	106,929		82,452	49,642
Interest expense																	0		0	0
Interest income																	0		0	0
Earnings from continuing operations before income taxes																	106,929		82,452	49,642
Assets	280,396	[11]							259,331								280,396	[11]	259,331	268,335	[12]
Depreciation and amortization																	20,190		20,742	23,005
Capital expenditures																	21,852		11,125	7,754
Schuh Group [Member]
Segment reporting information by segment
Sales																	370,480		212,262
Intercompany sales																	0		0
Net sales to external customers																	370,480		212,262
Segment operating income (loss)																	7,875		11,711
Asset Impairments and other																	0	[3]	0
Earnings from operations																	7,875		11,711
Interest expense																	0		0
Interest income																	0		0
Earnings from continuing operations before income taxes																	7,875		11,711
Assets	231,323	[11]							205,313								231,323	[11]	205,313
Depreciation and amortization																	10,040		4,602
Capital expenditures																	16,873		7,406
Lids Sports Group [Member]
Segment reporting information by segment
Sales																	793,016		759,671	603,533
Intercompany sales																	(1,761)		(347)	(188)
Net sales to external customers																	791,255		759,324	603,345
Segment operating income (loss)																	85,794		82,349	56,026
Asset Impairments and other																	0	[3]	0	0	[4]
Earnings from operations																	85,794		82,349	56,026
Interest expense																	0		0	0
Interest income																	0		0	0
Earnings from continuing operations before income taxes																	85,794		82,349	56,026
Assets	519,006	[11]							489,512								519,006	[11]	489,512	435,016	[12]
Depreciation and amortization																	26,892		22,541	18,627
Capital expenditures																	21,448		24,497	17,908
Johnston & Murphy Group [Member]
Segment reporting information by segment
Sales																	221,870		201,725	185,012
Intercompany sales																	(10)		0	(1)
Net sales to external customers																	221,860		201,725	185,011
Segment operating income (loss)																	15,737		13,682	7,595
Asset Impairments and other																	0	[3]	0	0	[4]
Earnings from operations																	15,737		13,682	7,595
Interest expense																	0		0	0
Interest income																	0		0	0
Earnings from continuing operations before income taxes																	15,737		13,682	7,595
Assets	89,505	[11]							79,321								89,505	[11]	79,321	72,393	[12]
Depreciation and amortization																	3,738		3,538	3,754
Capital expenditures																	6,680		1,894	1,687
Licensed Brands [Member]
Segment reporting information by segment
Sales																	108,808		97,721	101,839
Intercompany sales																	(310)		(277)	(195)
Net sales to external customers																	108,498		97,444	101,644
Segment operating income (loss)																	10,064		9,456	12,359
Asset Impairments and other																	0	[3]	0	0	[4]
Earnings from operations																	10,064		9,456	12,359
Interest expense																	0		0	0
Interest income																	0		0	0
Earnings from continuing operations before income taxes																	10,064		9,456	12,359
Assets	43,212	[11]							34,974								43,212	[11]	34,974	38,152	[12]
Depreciation and amortization																	366		285	217
Capital expenditures																	1,255		718	27
Corporate & Other [Member]
Segment reporting information by segment
Sales																	1,234		1,116	1,339
Intercompany sales																	0		0	0
Net sales to external customers																	1,234		1,116	1,339
Segment operating income (loss)																	(41,392)		(53,103)	(30,972)
Asset Impairments and other																	(17,037)	[3]	(2,677)	(8,567)	[4]
Earnings from operations																	(58,429)		(55,780)	(39,539)
Interest expense																	(5,126)		(5,157)	(1,130)
Interest income																	95		65	8
Earnings from continuing operations before income taxes																	(63,460)		(60,872)	(40,661)
Assets	170,347	[11]							168,814								170,347	[11]	168,814	147,186	[12]
Depreciation and amortization																	2,471		2,029	2,135
Capital expenditures																	$ 3,629		$ 3,816	$ 1,923

[1] 14 week period vs. 13 weeks in prior period.

[2] 53 week period vs. 52 weeks in prior period.

[3] Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

[4] Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

[5] Includes a net asset impairment and other charge of $16.1 million (see Note 3).

[6] Includes a net asset impairment and other charge of $0.4 million (see Note 3).

[7] Includes a net asset impairment and other charge of $0.1 million (see Note 3).

[8] Includes a net asset impairment and other charge of $0.8 million (see Note 3).

[9] Includes a net asset impairment and other charge of $0.3 million (see Note 3).

[10] Includes a net asset impairment and other charge of $1.2 million (see Note 3).

[11] Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $159.1 million, $99.9 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $6.5 million of additions in Fiscal 2012 resulting from small acquisitions and the Schuh Group goodwill is due to the acquisition of Schuh in the second quarter of Fiscal 2012 of $102.9 million which has been decreased by $3.0 million due to foreign currency translation adjustment.

[12] Total assets for the Lids Sports Group and Licensed Brands include $152.5 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group includes $33.5 million of additions in Fiscal 2011 resulting from small acquisitions and the Licensed Brands goodwill is due to the acquisition of Keuka Footwear in Fiscal 2011.

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Income Taxes (Tables)

12 Months Ended

Feb. 02, 2013

Income Tax Disclosure [Abstract]

Income tax expense from continuing operations

Income tax expense from continuing operations is comprised of the following:

In thousands	2013			2012			2011
Current
U.S. federal	$	50,859		$	42,103		$	35,103
International	10,072			2,007			1,474
State	8,841			8,952			5,703
Total Current Income Tax Expense	69,772			53,062			42,280
Deferred
U.S. federal	(7,445		)	(175		)	(8,165		)
International	(7,148		)	4,370			—
State	(3,238		)	(1,463		)	(3,701		)
Total Deferred Income Tax Expense (Benefit)	(17,831		)	2,732			(11,866		)
Total Income Tax Expense – Continuing Operations	$	51,941		$	55,794		$	30,414

Deferred tax assets and liabilities

 Deferred tax assets and liabilities are comprised of the following:

	February 2,			January 28,
In thousands	2013			2012
Identified intangibles	$	(28,076	)	$	(28,125	)
Prepaids	(2,943		)	(2,814		)
Convertible bonds	(3,001		)	(3,001		)
Total deferred tax liabilities	(34,020		)	(33,940		)
Options	965			1,289
Deferred rent	5,847			7,043
Pensions	8,321			8,936
Expense accruals	24,483			17,146
Uniform capitalization costs	12,539			9,893
Book over tax depreciation	13,783			11,756
Provisions for discontinued operations and restructurings	4,745			5,201
Inventory valuation	2,015			2,397
Tax net operating loss and credit carryforwards	3,535			8,306
Allowances for bad debts and notes	1,598			1,641
Deferred compensation and restricted stock	6,382			5,174
Other	3,500			5,460
Gross deferred tax assets	87,713			84,242
Deferred tax asset valuation allowance	(3,541		)	(3,790		)
Deferred tax asset net of valuation allowance	84,172			80,452
Net Deferred Tax Assets	$	50,152		$	46,512

Deferred tax assets net classification

The deferred tax balances have been classified in the Consolidated Balance Sheets as follows:

	2013			2012
Net current asset	$	23,725		$	22,541
Net non-current asset	26,448			28,152
Net non-current liability	(21		)	(4,181		)
Net Deferred Tax Assets	$	50,152		$	46,512

Reconciliation of the United States federal statutory rate to the Company's effective tax rate from continuing operations

Reconciliation of the United States federal statutory rate to the Company’s effective tax rate from continuing operations is as follows:

	2013		2012		2011
U. S. federal statutory rate of tax	35.00	%	35.00	%	35.00	%
State taxes (net of federal tax benefit)	3.17		3.53		2.59
Foreign rate differential	(1.78	)	(1.92	)	—
Change in valuation allowance	(0.17	)	0.71		—
Permanent items	2.00		2.35		(0.83	)
Uncertain tax positions	(5.80	)	—		(1.56	)
Other	(0.54	)	0.53		0.60
Effective Tax Rate	31.88	%	40.20	%	35.80	%

Reconciliation of the total amounts of unrecognized tax benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for Fiscal 2013, 2012 and 2011.

In thousands	2013			2012			2011
Unrecognized Tax Benefit – Beginning of Period	$	20,467		$	14,167		$	17,004
Gross Increases (Decreases) – Tax Positions in a Prior Period	(2,464		)	(29		)	(517		)
Gross Increases – Tax Positions in a Current Period	133			6,986			473
Settlements	(449		)	(533		)	(2,605		)
Lapse of Statutes of Limitations	(7,250		)	(124		)	(188		)
Unrecognized Tax Benefit – End of Period	$	10,437		$	20,467		$	14,167

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Asset Impairments and Other Charges and Discontinued Operations (Details Textual) (USD $)	3 Months Ended						12 Months Ended								9 Months Ended	12 Months Ended
	Feb. 02, 2013	Oct. 27, 2012	Apr. 28, 2012	Oct. 29, 2011	Jul. 30, 2011	Apr. 30, 2011	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011		Feb. 02, 2013 Retail Store Asset Impairments [Member]	Jan. 28, 2012 Retail Store Asset Impairments [Member]	Jan. 29, 2011 Retail Store Asset Impairments [Member]	Oct. 27, 2012 Computer Network Intrusion [Member]	Feb. 02, 2013 Computer Network Intrusion [Member]	Jan. 28, 2012 Computer Network Intrusion [Member]	Jan. 29, 2011 Computer Network Intrusion [Member]	Feb. 02, 2013 Other Legal Matters [Member]	Jan. 28, 2012 Other Legal Matters [Member]	Jan. 29, 2011 Other Legal Matters [Member]
Restructuring and Other Charges and Discontinued Operations (Textual) [Abstract]
Restructuring and other, net							$ 17,037,000	[1]	$ 2,677,000	$ 8,567,000	[2]	$ 1,400,000	$ 1,100,000	$ 7,200,000	$ 15,500,000	$ 15,600,000	$ 700,000	$ 1,300,000	$ 100,000	$ 900,000	$ 100,000
Environmental provision							11,900,000
Current environmental provision for discontinued operations							7,700,000
Provision for discontinued operations							796,000		1,692,000	2,203,000
Loss from discontinued operations	200,000	100,000	200,000	100,000	700,000	200,000	462,000		1,025,000	1,336,000
Anticipated costs of environmental remedial									1,800,000	2,900,000
Gain For Excess Provisions to Prior Discontinued Operations									$ 100,000	$ 700,000

[1] Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

[2] Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

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Legal Proceedings

12 Months Ended

Feb. 02, 2013

Commitments and Contingencies Disclosure [Abstract]

Legal Proceedings

Legal Proceedings

Environmental Matters

New York State Environmental Matters

In August 1997, the New York State Department of Environmental Conservation (“NYSDEC”) and the Company entered into a consent order whereby the Company assumed responsibility for conducting a remedial investigation and feasibility study (“RIFS”) and implementing an interim remedial measure (“IRM”) with regard to the site of a knitting mill operated by a former subsidiary of the Company from 1965 to 1969. The Company undertook the IRM and RIFS voluntarily, without admitting liability or accepting responsibility for any future remediation of the site. The Company has completed the IRM and the RIFS. In the course of preparing the RIFS, the Company identified remedial alternatives with estimated undiscounted costs ranging from $0.0 million to $24.0 million, excluding amounts previously expended or provided for by the Company. The United States Environmental Protection Agency (“EPA”), which has assumed primary regulatory responsibility for the site from NYSDEC, issued a Record of Decision in September 2007. The Record of Decision requires a remedy of a combination

of groundwater extraction and treatment and in-site chemical oxidation at an estimated present cost of approximately $10.7 million.

In July 2009, the Company agreed to a Consent Order with the EPA requiring the Company to perform certain remediation actions, operations, maintenance and monitoring at the site. In September 2009, a Consent Judgment embodying the Consent Order was filed in the U.S. District Court for the Eastern District of New York.

The Village of Garden City, New York, has additionally asserted that the Company is liable for the costs associated with enhanced treatment required by the impact of the groundwater plume from the site on two public water supply wells, including historical costs ranging from approximately $1.8 million to in excess of $2.5 million, and future operation and maintenance costs which the Village estimates at $126,400 annually while the enhanced treatment continues. On December 14, 2007, the Village filed a complaint against the Company and the owner of the property under the Resource Conservation and Recovery Act (“RCRA”), the Safe Drinking Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) as well as a number of state law theories in the U.S. District Court for the Eastern District of New York, seeking an injunction requiring the defendants to remediate contamination from the site and to establish their liability for

Note 13

Legal Proceedings, Continued

future costs that may be incurred in connection with it, which the complaint alleges could exceed $41 million, undiscounted, over a 70-year period. The Company has not verified the estimates of either historic or future costs asserted by the Village, but believes that an estimate of future costs based on a

70-year remediation period is unreasonable given the expected remedial period reflected in the EPA's Record of Decision. On May 23, 2008, the Company filed a motion to dismiss the Village's complaint on grounds including applicable statutes of limitation and preemption of certain claims by the NYSDEC's and the EPA's diligent prosecution of remediation. On January 27, 2009, the Court granted the motion to dismiss all counts of the plaintiff's complaint except for the CERCLA claim and a state law claim for indemnity for costs incurred after November 27, 2000. On September 23, 2009, on a motion for reconsideration by the Village, the Court reinstated the claims for injunctive relief under RCRA and for equitable relief under certain of the state law theories. The Company intends to continue to defend the action.

Whitehall Environmental Matters

The Company has performed sampling and analysis of soil, sediments, surface water, groundwater and waste management areas at the Company's former Volunteer Leather Company facility in Whitehall, Michigan.

In October 2010, the Company and the Michigan Department of Natural Resources and Environment entered into a Consent Decree providing for implementation of a remedial Work Plan for the facility site designed to bring the site into compliance with applicable regulatory standards. The Work Plan's implementation is substantially complete and the Company expects, based on its present understanding of the condition of the site, that its future obligations with respect to the site will be limited to periodic monitoring and that future costs related to the site should not have a material effect on its financial condition or results of operations.

Accrual for Environmental Contingencies

Related to all outstanding environmental contingencies, the Company had accrued $11.9 million as of February 2, 2013, $13.0 million as of January 28, 2012 and $15.5 million as of January 29, 2011. All such provisions reflect the Company's estimates of the most likely cost (undiscounted, including both current and noncurrent portions) of resolving the contingencies, based on facts and circumstances as of the time they were made. There is no assurance that relevant facts and circumstances will not change, necessitating future changes to the provisions. Such contingent liabilities are included in the liability

arising from provision for discontinued operations on the accompanying Condensed Consolidated Balance Sheets because it relates to former facilities operated by the Company. The Company has made pretax accruals for certain of these contingencies, including approximately $0.8 million reflected in Fiscal 2013, $1.8 million reflected in Fiscal 2012 and $2.9 million reflected in Fiscal 2011. These charges are included in provision for discontinued operations, net in the Consolidated Statements of Operations and represent changes in estimates.

Note 13

Legal Proceedings, Continued

Other Matters

On December 10, 2010, the Company announced that it had suffered a criminal intrusion into the portion of its computer network that processes payments for transactions in certain of its retail stores. Visa, Inc., MasterCard Worldwide and American Express Travel Related Services Company, Inc. have asserted claims totaling approximately $15.6 million in connection with the intrusion and the claims of two of the claimants have been collected by withholding payment card receivables of the Company. In the fourth quarter of Fiscal 2013, the Company recorded a $15.4 million charge to earnings in connection with the disputed liability. On March 7, 2013, the Company filed an action in the U.S. District Court for the Middle District of Tennessee against Visa U.S.A. Inc., Visa Inc. and Visa International Service Association seeking to recover $13.3 million in non-compliance fines and issuer reimbursement assessments collected from the Company in connection with the intrusion. The Company does not currently expect any future claims in connection with the intrusion to have a material effect on its financial condition, cash flows, or results of operations.

On January 5, 2012, a patent infringement action against the Company and numerous other defendants was filed in the U.S. District Court for the Eastern District of Texas, GeoTag, Inc. v. Circle K Store, Inc., et al., alleging that features of certain of the Company's e-commerce websites infringe U.S. Patent No. 5,930,474, entitled “Internet Organizer for Accessing Geographically and Topically Based Information.” The plaintiff seeks relief including damages for the alleged infringement, costs, expenses and pre- and post-judgment interest and injunctive relief. The Company disputes the validity of the claim and is defending the matter.

On June 13, 2012, a former vendor of a subsidiary of the Company filed an action, Perfect Curve, Inc. v. Hat World, Inc., in U.S. District Court in Massachusetts, alleging patent, trademark, trade dress, and copyright infringement against the subsidiary based on the sale of a line of products developed by the subsidiary. The Company denies the material allegations against it and is defending the action.

On May 14, 2012, a putative class and collective action, Maro v. Hat World, Inc., was filed in the U.S. District Court for the Northern District of Illinois. The action alleges that the Company failed to pay

the plaintiff and other, similarly situated retail store employees of Hat World, Inc., for time spent making bank deposits of store collections, and seeks to recover unpaid wages, liquidated damages, statutory penalties, attorneys fees, and costs pursuant to the federal Fair Labor Standards Act, the Illinois Minimum Wage Law and the Illinois Wage Payment and Collection Act. On July 16, 2012 and July 30, 2012, additional putative class and collective actions, Chavez v. Hat World, Inc. and Dismukes v. Hat World, Inc., were filed in the same court, alleging that certain Hat World employees were misclassified as exempt from overtime pay, and seeking similar relief. The Chavez and Dismukes actions have been consolidated. The Company disputes the material allegations in the consolidated action and in Maro and is defending the actions.

On August 30, 2012, a former employee of a Company subsidiary filed a putative class and collective action, Kershner v. Hat World, Inc., in the Philadelphia, Pennsylvania Court of Common Pleas alleging violations of the Pennsylvania Minimum Wage Act by the subsidiary. The Company is defending the matter.

Note 13

Legal Proceedings, Continued

In addition to the matters specifically described in this Note, the Company is a party to other legal and regulatory proceedings and claims arising in the ordinary course of its business. While management does not believe that the Company's liability with respect to any of these other matters is likely to have a material effect on its financial position, cash flows, or results of operations, legal proceedings are subject to inherent uncertainties and unfavorable rulings could have a material adverse impact on the Company's business and results of operations.

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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 02, 2013

Accounting Policies [Abstract]

Property and equipment amortized over the estimated useful life of related assets

Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives:

Buildings and building equipment	20-45 years
Computer hardware, software and equipment	3-10 years
Furniture and fixtures	10 years

Carrying amounts and fair values of the Company's financial instruments

In thousands	February 2, 2013		January 28, 2012
	Carrying Amount	Fair Value	Carrying Amount		Fair Value
U.S. Revolver Borrowings	27,700	27,742	$	5,000	5,021
UK Term Loans	22,982	22,982	35,704		35,387

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Quarterly Financial Information (Unaudited) (Details Textual) (USD $)	3 Months Ended								12 Months Ended
	Feb. 02, 2013	Oct. 27, 2012	Jul. 28, 2012	Apr. 28, 2012	Jan. 28, 2012	Oct. 29, 2011	Jul. 30, 2011	Apr. 30, 2011	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Quarterly Financial Information (Textual) [Abstract]
Net restructuring and other charge	$ 16,100,000	$ 400,000	$ 400,000	$ 100,000	$ 800,000	$ 300,000	$ 400,000	$ 1,200,000
Loss from discontinued operations	$ 200,000	$ 100,000		$ 200,000		$ 100,000	$ 700,000	$ 200,000	$ 462,000	$ 1,025,000	$ 1,336,000
Weeks in fiscal year									P53W	P52W	P52W
Weeks in fiscal quarter	P14W				P13W

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Acquisitions and Intangible Assets (Details Textual)	9 Months Ended	12 Months Ended			7 Months Ended	12 Months Ended				12 Months Ended		12 Months Ended
	Oct. 27, 2012 USD ($)	Feb. 02, 2013 USD ($)	Jan. 28, 2012 USD ($)	Jan. 29, 2011 USD ($)	Jan. 28, 2012 Schuh [Member] USD ($)	Feb. 02, 2013 Schuh [Member] USD ($) Store Concession	Jan. 28, 2012 Schuh [Member] USD ($)	Jun. 23, 2011 Schuh [Member] USD ($)	Jun. 23, 2011 Schuh [Member] GBP (£)	Feb. 02, 2013 Customer Lists [Member] Schuh [Member]	Jun. 23, 2011 Customer Lists [Member] Schuh [Member] USD ($)	Feb. 02, 2013 Leases [Member] Schuh [Member]	Jun. 23, 2011 Leases [Member] Schuh [Member] USD ($)	Jun. 23, 2011 Vendor Contract [Member] Schuh [Member] USD ($)
Acquisitions and Intangible Assets (Textual) [Abstract]
Acquisition purchase price (in GBP)									£ 100,000,000
Outstanding credit facilities (in GBP)									29,500,000
Working capital adjustments (in GBP)									1,900,000
Net cash acquired								24,836,000	6,200,000
Contingent amount related to acquisition (in GBP)									5,000,000
Deferred purchase price related to acquisition (in GBP)									25,000,000
Deferred purchase price third installment (in GBP)									15,000,000
Deferred purchase price fourth installment (in GBP)									10,000,000
Number of retail stores						79
Number of concessions						13
Net sales, related to Schuh's operations					212,300,000	370,500,000
Operating income		167,970,000	143,870,000	86,083,000	11,700,000	7,900,000
Business Combination, Acquisition Related Costs							7,400,000
Compensation expense, related to deferred purchase price allocation						12,100,000	7,200,000
Other intangibles								4,995,000			1,700,000		2,500,000	800,000
Weighted average amortization period										4 years 7 months 6 days		2 years 8 months 12 days
Pro forma adjustments, reflect additional interest expense for debt borrowings						89,000,000
Amortization of intangibles assets	3,400,000		3,200,000	2,100,000
Future amortization expense, 2014		3,200,000
Future amortization expense, 2015		2,800,000
Future amortization expense, 2016		2,000,000
Future amortization expense, 2017		1,600,000
Future amortization expense, 2018		$ 1,000,000

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Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Concentration of Credit Risk and Allowances on Accounts Receivable (Details Textual) (Trade Accounts Receivable [Member], Customer Concentration Risk [Member])	12 Months Ended
	Feb. 02, 2013 customer
Concentration Risk [Line Items]
Number of significant customers (in customers)	2
Concentration risk percentage	7.00%
Maximum [Member]
Concentration Risk [Line Items]
Concentration risk benchmark percentage	6.00%

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Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013		Jan. 28, 2012	Jan. 29, 2011
Net earnings	$ 110,536	[1]	$ 81,959	$ 53,211
Gain (loss) on foreign currency forward contract, net of tax of $0.0 million for 2013 and 2012 and $0.1 million for 2011	42		(35)	166
Pension liability adjustment net of tax of $2.4 million and $2.7 million for 2013 and 2011, respectively, and net of tax benefit of $3.1 million for 2012	3,657		(4,670)	3,921
Postretirement liability adjustment net of tax benefit of $.01 million for each period	(79)		(109)	(131)
Foreign currency translation adjustments	1,105		(3,847)	543
Total other comprehensive income (loss)	4,725		(8,661)	4,499
Comprehensive Income	$ 115,261		$ 73,298	$ 57,710

[1] 53 week period vs. 52 weeks in prior period.

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Share-Based Compensation Plans, Employee Stock Purchase Plan (Details Textual) (USD $)					12 Months Ended				12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011	Jan. 30, 2010	Feb. 02, 2013 Stock Purchase Plans [Member]	Jan. 28, 2012 Stock Purchase Plans [Member]	Jan. 29, 2011 Stock Purchase Plans [Member]	Feb. 02, 2013 Stock Purchase Plans [Member] Common Stock [Member]	Feb. 02, 2013 Amended Stock Purchase Plans [Member]	Feb. 02, 2013 Prior Stock Incentive Plans [Member] Employee Stock [Member]	Jan. 28, 2012 Prior Stock Incentive Plans [Member] Employee Stock [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares authorized for issuance								1,000,000
Employee annual base salary to qualify under plan					$ 90,000
Employee prior annual base salary to qualify under plan					100,000
Maximum Percentage of annual base salary under plan					0.15				0.15
Maximum amount of annual base salary under plan					8,500				9,500
Percentage of last day exercise price available to participant					0.85
Percentage of discount on Last day fair market value available to participant									0.05
Shares sold to employees					2,463	2,717	4,230
Value of preferred stock issued	$ 3,924,000	$ 4,957,000	$ 5,183,000	$ 5,220,000						$ 96,000	$ 101,000
Number of employees preferred stock secured										5,245

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Acquisitions and Intangible Assets

12 Months Ended

Feb. 02, 2013

Acquisitions and Intangible Assets [Abstract]

Acquisitions and Intangible Assets

Acquisitions and Intangible Assets

Schuh Acquisition

On June 23, 2011, the Company, through its newly-formed, wholly-owned subsidiary Genesco (UK) Limited (“Genesco UK”), completed the acquisition of all the outstanding shares of Schuh Group Ltd. (“Schuh”) for a total purchase price of approximately £100.0 million, less £29.5 million outstanding under existing Schuh credit facilities, which remain in place, less a £1.9 million working capital adjustment and plus £6.2 million net cash acquired, with £5.0 million withheld and payable in June 2013. The Company financed the acquisition with borrowings under its existing credit facility and the balance from cash on hand. The purchase agreement also provides for deferred purchase price payments totaling £25 million, payable £15 million and £10 million on the third and fourth anniversaries of the closing, respectively, subject to the payees’ not having terminated their employment with Schuh under certain specified circumstances. This amount will be recorded as compensation expense and not reported as a component of the cost of the acquisition.

Headquartered in Scotland, Schuh is a specialty retailer of casual and athletic footwear sold through 79 retail stores in the United Kingdom and the Republic of Ireland and 13 concessions in Republic apparel stores as of February 2, 2013. The Company completed the acquisition in order to enhance its strategic development and prospects for growth and provide the Company with an established retail presence in the United Kingdom and improved insight into global fashion trends. The results of Schuh’s operations for Fiscal 2013 include net sales of $370.5 million and operating earnings of $7.9 million. The results of Schuh's operations for the fiscal year from the date of acquisition through January 28, 2012, including net sales of $212.3 million and operating earnings of $11.7 million, have been included in the Company's Consolidated Financial Statements for the fiscal year ended January 28, 2012. During the fiscal year ended January 28, 2012, the Company expensed $7.4 million in costs related to the

Note 2

Acquisitions and Intangible Assets, Continued

acquisition. These costs were recorded as selling and administrative expenses on the Consolidated Statement of Operations. During Fiscal 2013, compensation expense related to the Schuh acquisition

deferred purchase price obligation was $12.1 million, compared to $7.2 million in Fiscal 2012. This expense is included in the operating earnings for the Schuh Group segment.

The acquisition has been accounted for using the purchase method in accordance with the Business Combinations Topic of the Codification. Accordingly, the total purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at acquisition as follows (amounts in thousands):

At June 23, 2011
Cash	$	24,836
Accounts receivable	4,673
Inventories	32,179
Other current assets	7,565
Property and equipment	30,314
Other non-current assets	6,977
Deferred taxes	4,197
Trademarks	27,224
Other intangibles	4,995
Goodwill	102,907
Accounts payable	(16,196		)
Other current liabilities	(24,718		)
Long-term debt (includes current portion)	(62,562		)
Other non-current liabilities	(26,637		)
Net Assets Acquired	$	115,754

The trademarks acquired include the concept names and are deemed to have an indefinite life. Other intangibles include a $1.7 million customer list, a $2.5 million asset to reflect the adjustment of acquired leases to market and a vendor contract of $0.8 million. The weighted average amortization period for the asset to adjust acquired leases to market is 2.7 years. The weighted average amortization period for customer lists is 4.6 years.

Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the acquisition of Schuh includes the expected purchasing synergies and other benefits that result from combining the Schuh business with the Company, improved insight into global fashion trends, any intangible assets that do not qualify for separate recognition and an acquired assembled workforce. The goodwill related to the Schuh acquisition is not deductible for tax purposes.

Note 2

Acquisitions and Intangible Assets, Continued

The following pro forma information presents the results of operations of the Company as if the Schuh acquisition had taken place at the beginning of Fiscal 2011 or January 31, 2010. Pro forma adjustments have been made to reflect additional interest expense from the $89.0 million in debt associated with the acquisition, interest expense on the acquired debt, amortization of intangible assets and the related income tax effects. Pro forma earnings for the twelve months ended January 28, 2012 have been adjusted to exclude $7.4 million of costs related to the acquisition.

	Twelve Months Ended - Pro forma		Twelve Months Ended - Pro forma
In thousands, except per share data	January 28, 2012		January 29, 2011
Net sales	$	2,384,267	2,045,473
Earnings from continuing operations	86,378		57,897
Earnings per share:
Basic	$	3.71	$	2.49
Diluted	$	3.62	$	2.44

The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had the Schuh acquisition occurred at the beginning of Fiscal 2011.

Intangible Assets

Other intangibles by major classes were as follows:

	Leases						Customer Lists						Other*						Total
In thousands	Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012
Gross other intangibles	$	12,584		$	12,390		$	14,116		$	14,062		$	2,118		$	2,001		$	28,818		$	28,453
Accumulated amortization	(10,800		)	(9,477		)	(5,312		)	(3,292		)	(1,108		)	(876		)	(17,220		)	(13,645		)
Net Other Intangibles	$	1,784		$	2,913		$	8,804		$	10,770		$	1,010		$	1,125		$	11,598		$	14,808

*Includes non-compete agreements, vendor contract and backlog.

The amortization of intangibles, including trademarks, was $3.4 million, $3.2 million and $2.1 million for Fiscal 2013, 2012 and 2011, respectively. The amortization of intangibles, including trademarks, will be $3.2 million, $2.8 million, $2.0 million, $1.6 million and $1.0 million for Fiscal 2014, 2015, 2016, 2017 and 2018, respectively.

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Commitments Under Long-Term Leases (Details Textual) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012
Commitments Under Long-Term Leases (Textual) [Abstract]
Percentage of renewal options	4.00%
Tenant allowances	$ 20.0	$ 17.6
Deferred rent	$ 37.9	$ 35.2
United States, Puerto Rico and Canada [Member]
Commitments Under Long-Term Leases (Textual) [Abstract]
Store leases terms minimum	5 years
Store leases terms maximum	10 years
United Kingdom and the Republic of Ireland [Member]
Commitments Under Long-Term Leases (Textual) [Abstract]
Store leases terms minimum	10 years
Store leases terms maximum	20 years

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Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details Textuals) (USD $)	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Defined Benefit Plan Disclosure [Line Items]
Minimum expected funded percentage	80.00%
Minimum year of service of employee related to savings plan	1 year
Minimum year of age of employee related to savings plan	21 years
Maximum percentage of salary up to which additional contribution made by employer	2.50%
Contribution expense to company for matching program	$ 5,300,000	$ 4,200,000	$ 3,800,000
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Age under health care plan for early retirees eligible for benefits	65 years
Estimated net loss that will be amortized from accumlated other comprehensive income	100,000
Discount rate	4.01%	4.17%
Expected long-term rate of return on plan assets	0.00%	0.00%	0.00%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Participant's compensation	4.00%
Participant compensation in excess of social security taxable wage base	4.00%
Interest calculated on account balance of each active particpant	7.00%
Amount other than interest calculated on account balance of each active participant	50.00%
Amount with interest calculated on account balance of each inactive participant	lesser of 7% or the 30 year
Treasury rate with interest calculated on account balance of each inactive participant	7.00%
Year with interest calculated on account balance of each inactive participant	30
Year only with interest calculated under frozen plan for each particpant's cash balance plan account	30
Treasury rate only with interest calculated under frozen plan for each participant's cash balance plan account	7.00%
Estimated net loss that will be amortized from accumlated other comprehensive income	6,500,000.0
Estimated prior service cost that will be amortized from accumulated other comprehensive income	0
Discount rate	4.00%	4.35%	5.25%
Decrease in rate increased accumulated benefit obligation	4,300,000	10,400,000
Decrease in rate increased projected benefit obligation	$ 4,300,000	$ 10,400,000
Expected long-term rate of return on plan assets	7.75%	8.25%	8.25%
Domestic Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocations	50.00%
International Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocations	13.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocations	35.00%
Cash Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocations	2.00%
Defined Benefit Pension Plan Amendment One [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of matching contribution by employer	50.00%
Maximum employer contribution up to a specified percentage of salary	5.00%
Defined Benefit Pension Plan Amendment Two [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of matching contribution by employer	100.00%
Maximum employer contribution up to a specified percentage of salary	3.00%
Percent of matching contribution by employer up to a specified percentage of salary	50.00%
Another maximum employer contribution up to specified percentage of salary	2.00%

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Defined Benefit Pension Plans and Other Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013	Jan. 28, 2012	Jan. 29, 2011
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward
Benefit Obligation at End of Year	$ 4,487	$ 3,908
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Plan Assets at End of Year	0	0
Funded Status at End of Year	(4,487)	(3,908)
Pension Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward
Benefit obligation at beginning of year	118,644	110,793
Service cost	350	250	250
Interest cost	4,961	5,597	5,897
Plan participants’ contributions	0	0
Benefits paid	(9,038)	(8,805)
Actuarial loss	4,209	10,809
Benefit Obligation at End of Year	119,126	118,644	110,793
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	96,443	98,887
Actual gain on plan assets	11,207	6,111
Employer contributions	0	250
Plan participants’ contributions	0	0
Benefits paid	(9,038)	(8,805)
Fair Value of Plan Assets at End of Year	98,612	96,443	98,887
Funded Status at End of Year	(20,514)	(22,201)
Other Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward
Benefit obligation at beginning of year	3,908	3,480
Service cost	356	166	144
Interest cost	157	174	170
Plan participants’ contributions	74	71
Benefits paid	(221)	(242)
Actuarial loss	213	259
Benefit Obligation at End of Year		3,908	3,480
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0	0
Actual gain on plan assets	0	0
Employer contributions	147	171
Plan participants’ contributions	74	71
Benefits paid	(221)	(242)
Fair Value of Plan Assets at End of Year		$ 0	$ 0

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Acquisitions and Intangible Assets (Tables)

12 Months Ended

Feb. 02, 2013

Acquisitions and Intangible Assets [Abstract]

Estimated fair values of assets and liabilities at acquisition

Accordingly, the total purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values at acquisition as follows (amounts in thousands):

At June 23, 2011
Cash	$	24,836
Accounts receivable	4,673
Inventories	32,179
Other current assets	7,565
Property and equipment	30,314
Other non-current assets	6,977
Deferred taxes	4,197
Trademarks	27,224
Other intangibles	4,995
Goodwill	102,907
Accounts payable	(16,196		)
Other current liabilities	(24,718		)
Long-term debt (includes current portion)	(62,562		)
Other non-current liabilities	(26,637		)
Net Assets Acquired	$	115,754

Summary of results of earnings from operations

Pro forma earnings for the twelve months ended January 28, 2012 have been adjusted to exclude $7.4 million of costs related to the acquisition.

	Twelve Months Ended - Pro forma		Twelve Months Ended - Pro forma
In thousands, except per share data	January 28, 2012		January 29, 2011
Net sales	$	2,384,267	2,045,473
Earnings from continuing operations	86,378		57,897
Earnings per share:
Basic	$	3.71	$	2.49
Diluted	$	3.62	$	2.44

Other intangible assets by major classes

Other intangibles by major classes were as follows:

	Leases						Customer Lists						Other*						Total
In thousands	Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012			Feb. 2, 2013			Jan. 28, 2012
Gross other intangibles	$	12,584		$	12,390		$	14,116		$	14,062		$	2,118		$	2,001		$	28,818		$	28,453
Accumulated amortization	(10,800		)	(9,477		)	(5,312		)	(3,292		)	(1,108		)	(876		)	(17,220		)	(13,645		)
Net Other Intangibles	$	1,784		$	2,913		$	8,804		$	10,770		$	1,010		$	1,125		$	11,598		$	14,808

*Includes non-compete agreements, vendor contract and backlog.

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Defined Benefit Pension Plans and Other Benefit Plans Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Details 5) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Feb. 02, 2013
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net loss (gain)	$ 5
Amortization of prior service cost	(4)
Amortization of net actuarial (loss) gain	(6,032)
Total Recognized in Other Comprehensive Income	(6,031)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	(1,687)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Net loss (gain)	(84)
Amortization of prior service cost	0
Amortization of net actuarial (loss) gain	213
Total Recognized in Other Comprehensive Income	129
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$ 726

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Business Segment Information (Tables)

12 Months Ended

Feb. 02, 2013

Segment Reporting [Abstract]

Segment reporting information by segment

Fiscal 2013
	Journeys Group			Schuh Group		Lids Sports Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	1,111,490		$	370,480	$	793,016		$	221,870		$	108,808		$	1,234		$	2,606,898
Intercompany sales	—		—	—		(1,761		)	(10		)	(310		)	—			(2,081		)
Net sales to external customers	$	1,111,490		$	370,480	$	791,255		$	221,860		$	108,498		$	1,234		$	2,604,817
Segment operating income (loss)	$	106,929		$	7,875	$	85,794		$	15,737		$	10,064		$	(41,392	)	$	185,007
Asset Impairments and other*	—			—		—			—			—			(17,037		)	(17,037		)
Earnings (loss) from operations	106,929			7,875		85,794			15,737			10,064			(58,429		)	167,970
Interest expense	—			—		—			—			—			(5,126		)	(5,126		)
Interest income	—			—		—			—			—			95			95
Earnings (loss) from continuing operations before income taxes	$	106,929		$	7,875	$	85,794		$	15,737		$	10,064		$	(63,460	)	$	162,939
Total assets**	$	280,396		$	231,323	$	519,006		$	89,505		$	43,212		$	170,347		$	1,333,789
Depreciation and amortization	20,190			10,040		26,892			3,738			366			2,471			63,697
Capital expenditures	21,852			16,873		21,448			6,680			1,255			3,629			71,737

 *Asset Impairments and other includes a $1.4 million charge for asset impairments, of which $0.9 million is in the Lids Sports Group,

$0.4 million is in the Journeys Group and $0.1 million is in the Johnston & Murphy Group, a $15.5 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

**Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $172.3 million, $100.7 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $13.2 million of additions in Fiscal 2013 resulting from small acquisitions and the Schuh Group goodwill increased by $0.8 million due to foreign currency translation adjustment.

Note 14

Business Segment Information, Continued

Fiscal 2012
	Journeys Group		Schuh Group		Lids Sports Group			Johnston & Murphy Group		Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	1,020,116	212,262		$	759,671		$	201,725	$	97,721		$	1,116		$	2,292,611
Intercompany sales	—		—		(347		)	—		(277		)	—			(624		)
Net sales to external customers	$	1,020,116	$	212,262	$	759,324		$	201,725	$	97,444		$	1,116		$	2,291,987
Segment operating income (loss)	$	82,452	$	11,711	$	82,349		$	13,682	$	9,456		$	(53,103	)	$	146,547
Asset Impairments and other*	—		—		—			—		—			(2,677		)	(2,677		)
Earnings (loss) from operations	82,452		11,711		82,349			13,682		9,456			(55,780		)	143,870
Interest expense	—		—		—			—		—			(5,157		)	(5,157		)
Interest income	—		—		—			—		—			65			65
Earnings (loss) from continuing operations before income taxes	$	82,452	$	11,711	$	82,349		$	13,682	$	9,456		$	(60,872	)	$	138,778
Total assets**	$	259,331	205,313		$	489,512		$	79,321	$	34,974		$	168,814		$	1,237,265
Depreciation and amortization	20,742		4,602		22,541			3,538		285			2,029			53,737
Capital expenditures	11,125		7,406		24,497			1,894		718			3,816			49,456

*Asset Impairments and other includes a $1.1 million charge for asset impairments, of which $0.6 million is in the Journeys Group, $0.3 million is in the Lids Sports Group and $0.2 million is in the Johnston & Murphy Group, a $0.7 million charge for network intrusion costs and a $0.9 million charge for other legal matters.

**Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $159.1 million, $99.9 million and $0.8 million of goodwill, respectively. Goodwill for Lids Sports Group includes $6.5 million of additions in Fiscal 2012 resulting from small acquisitions and the Schuh Group goodwill is due to the acquisition of Schuh in the second quarter of Fiscal 2012 of $102.9 million which has been decreased by $3.0 million due to foreign currency translation adjustment.

Note 14

Business Segment Information, Continued

Fiscal 2011
	Journeys Group		Lids Sports Group			Johnston & Murphy Group			Licensed Brands			Corporate & Other			Consolidated
In thousands
Sales	$	898,500	$	603,533		$	185,012		$	101,839		$	1,339		$	1,790,223
Intercompany sales	—		(188		)	(1		)	(195		)	—			(384		)
Net sales to external customers	$	898,500	$	603,345		$	185,011		$	101,644		$	1,339		$	1,789,839
Segment operating income (loss)	$	49,642	$	56,026		$	7,595		$	12,359		$	(30,972	)	$	94,650
Asset Impairments and other*	—		—			—			—			(8,567		)	(8,567		)
Earnings (loss) from operations	49,642		56,026			7,595			12,359			(39,539		)	86,083
Interest expense	—		—			—			—			(1,130		)	(1,130		)
Interest income	—		—			—			—			8			8
Earnings (loss) from continuing operations before income taxes	$	49,642	$	56,026		$	7,595		$	12,359		$	(40,661	)	$	84,961
Total assets**	$	268,335	$	435,016		$	72,393		$	38,152		$	147,186		$	961,082
Depreciation and amortization	23,005		18,627			3,754			217			2,135			47,738
Capital expenditures	7,754		17,908			1,687			27			1,923			29,299

*Asset Impairments and other includes a $7.2 million charge for asset impairments, of which $5.5 million is in the Journeys Group, $1.0 million is in the Lids Sports Group and $0.7 million is in the Johnston & Murphy Group, a $1.3 million charge for network intrusion costs and a $0.1 million charge for other legal matters.

**Total assets for the Lids Sports Group and Licensed Brands include $152.5 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group includes $33.5 million of additions in Fiscal 2011 resulting from small acquisitions and the Licensed Brands goodwill is due to the acquisition of Keuka Footwear in Fiscal 2011.

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Share-Based Compensation Plans

12 Months Ended

Feb. 02, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation Plans

Share-Based Compensation Plans

The Company’s stock-based compensation plans, as of February 2, 2013, are described below. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation – Stock Compensation Topic of the Codification.

Stock Incentive Plans

The Company has two fixed stock incentive plans. Under the 2009 Amended and Restated Equity Incentive Plan (the “2009 Plan”), effective as of June 22, 2011, the Company may grant options, restricted shares, performance awards and other stock-based awards to its employees, consultants and directors for up to 2.5 million shares of common stock. Under the 2005 Equity Incentive Plan (the “2005 Plan”), effective as of June 23, 2005, the Company was permitted to grant options, restricted shares and other stock-based awards to its employees and consultants as well as directors for up to 2.5 million shares of common stock. There will be no future awards under the 2005 Equity Incentive Plan. Under both plans, the exercise price of each option equals the market price of the Company’s stock on the date of grant and an option’s maximum term is 10 years. Options granted under both plans vest 25% per year over four years.

For Fiscal 2013, 2012 and 2011, the Company recognized share-based compensation cost of $0.0, less than $1,000 and $0.2 million, respectively, for its fixed stock incentive plans included in selling and administrative expenses in the accompanying Consolidated Statements of Operations. The Company did not capitalize any share-based compensation cost.

The Compensation—Stock Compensation Topic of the Codification requires that the cash flows resulting from tax benefits for tax deductions in excess of the compensation cost recognized for those options (excess tax benefit) be classified as financing cash flows. Accordingly, the Company classified excess tax benefits of $4.8 million, $4.7 million and $1.4 million as financing cash inflows rather than as operating cash inflows on its Consolidated Statement of Cash Flows for Fiscal 2013, 2012 and 2011, respectively.

The Company did not grant any fixed stock options in Fiscal 2013, 2012 or 2011.

Note 12

Share-Based Compensation Plans, Continued

A summary of fixed stock option activity and changes for Fiscal 2013, 2012 and 2011 is presented below:

	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)(1)
Outstanding, January 30, 2010	995,580		$	24.04
Granted	0		—
Exercised	(118,450	)	18.77
Forfeited	0		—
Outstanding, January 29, 2011	877,130		$	24.75
Granted	0		—
Exercised	(390,357	)	24.82
Forfeited	0		—
Outstanding, January 28, 2012	486,773		$	24.70
Granted	0		—
Exercised	(223,618	)	21.50
Forfeited	0		—
Outstanding, February 2, 2013	263,155		$	27.43	1.98	$	9,317
Exercisable, February 2, 2013	263,155		$	27.43	1.98	$	9,317

(1) Based upon the difference between the closing market price of the Company’s common stock on the last trading day of the year and the grant price of in-the-money options.

The total intrinsic value, which represents the difference between the underlying stock’s market price and the option’s exercise price, of options exercised during Fiscal 2013, 2012 and 2011 was $11.5 million, $10.3 million and $2.3 million, respectively.

As of February 2, 2013, the Company does not have any nonvested shares of its fixed stock incentive plans.

As of February 2, 2013 there was no unrecognized compensation costs related to nonvested share-based compensation arrangements granted under the stock incentive plans discussed above. Cash received from option exercises under all share-based payment arrangements for Fiscal 2013, 2012 and 2011 was $4.8 million, $9.7 million and $2.2 million, respectively.

Restricted Stock Incentive Plans

Director Restricted Stock

The 2009 Plan permits grants to non-employee directors on such terms as the board may approve.

Restricted stock awards were made to independent directors on the date of the annual meeting of shareholders in each of Fiscal 2013, 2012 and 2011. The shares granted in each award vested on the first anniversary of the grant date, subject to the director's continued service through that date. The board also approved a grant of 336 additional shares to a newly elected director on the annual meeting date in Fiscal 2013 on the same terms as the Fiscal 2013 grant to all outside directors. In all cases, the

Note 12

Share-Based Compensation Plans, Continued

director is restricted from selling, transferring, pledging or assigning the shares for three years from the grant date unless he or she earlier leaves the board.

The Fiscal 2011 grants were valued at $60,000 based on the average closing price of the stock for the first five trading days of the month in which they were granted and vested in three equal annual installments beginning on the first anniversary of the grant date, subject to the director's continuing service. The Fiscal 2012 grants were valued at $70,000 and the Fiscal 2013 grants were valued at $80,000 on the same basis, and vested on the first anniversary of the grant date. For Fiscal 2013, 2012 and 2011, the Company issued 9,888 shares, 14,643 shares and 17,838 shares, respectively, of director restricted stock.

For Fiscal 2013, 2012 and 2011, the Company recognized $0.9 million, $0.8 million and $0.5 million, respectively, of director restricted stock related share-based compensation in selling and administrative expenses in the accompanying Consolidated Statements of Operations.

Employee Restricted Stock

Under the 2009 Plan, the Company issued 194,232 shares, 289,407 and 404,995 shares of employee restricted stock in Fiscal 2013, 2012 and 2011, respectively. Shares issued in Fiscal 2011, 2012 and 2013 vest 25% per year over four years, provided that on such date the grantee has remained continuously employed by the Company since the date of grant. The fair value of employee restricted stock is charged against income as compensation cost over the vesting period. Compensation cost recognized in selling and administrative expenses in the accompanying Consolidated Statements of Operations for these shares was $9.6 million, $6.9 million and $7.3 million for Fiscal 2013, 2012 and 2011, respectively.

Note 12

Share-Based Compensation Plans, Continued

A summary of the status of the Company’s nonvested shares of its employee restricted stock as of February 2, 2013 is presented below:

Nonvested Restricted Shares	Shares		Weighted-Average Grant-Date Fair Value
Nonvested at January 30, 2010	676,114		$	20.94
Granted	404,995		28.41
Vested	(179,684	)	23.09
Withheld for federal taxes	(81,731	)	23.15
Forfeited	(1,575	)	19.40
Nonvested at January 29, 2011	818,119		23.95
Granted	289,407		45.14
Vested	(227,691	)	22.58
Withheld for federal taxes	(93,089	)	22.42
Forfeited	(14,081	)	27.38
Nonvested at January 28, 2012	772,665		32.41
Granted	194,232		57.58
Vested	(195,203	)	29.95
Withheld for federal taxes	(75,552	)	29.97
Forfeited	(3,360	)	38.96
Nonvested at February 2, 2013	692,782		$	40.59

As of February 2, 2013 there was $21.7 million of total unrecognized compensation costs related to nonvested share-based compensation arrangements for restricted stock discussed above. That cost is expected to be recognized over a weighted average period of 2.27 years.

Employee Stock Purchase Plan

Under the Employee Stock Purchase Plan, the Company is authorized to issue up to 1.0 million shares of common stock to qualifying full-time employees whose total annual base salary is less than $90,000, effective October 1, 2002. Prior to October 1, 2002, the total annual base salary was limited to $100,000. Under the terms of the Plan, employees could choose each year to have up to 15% of their annual base earnings or $8,500, whichever is lower, withheld to purchase the Company’s common stock. The purchase price of the stock was 85% of the closing market price of the stock on either the exercise date or the grant date, whichever was less. The Company’s board of directors amended the Company’s Employee Stock Purchase Plan effective October 1, 2005 to provide that participants may acquire shares under the Plan at a 5% discount from fair market value on the last day of the Plan year. Employees can choose each year to have up to 15% of their annual base earnings or $9,500, whichever is lower, withheld to purchase the Company’s common stock. Under the Compensation – Stock Compensation Topic of the Codification, shares issued under the Plan as amended are non-compensatory. Under the Plan, the Company sold 2,463 shares, 2,717 shares and 4,230 shares to employees in Fiscal 2013, 2012 and 2011, respectively.

Note 12

Share-Based Compensation Plans, Continued

Stock Purchase Plans

Stock purchase accounts arising out of sales to employees prior to 1972 under certain employee stock purchase plans amounted to $96,000 and $101,000 at February 2, 2013 and January 28, 2012, respectively, and were secured at February 2, 2013, by 5,245 employees’ preferred shares. Payments on stock purchase accounts under the stock purchase plans have been indefinitely deferred. No further sales under these plans are contemplated.