Genesco names Mel Tucker chief financial officer
In his new role, Tucker succeeds Mimi E. Vaughn, who was recently promoted to chief operating officer.
Tucker brings over 25 years of financial leadership experience to the company, including work with both publicly held and privately owned retail companies.
Most recently, he served as chief financial officer of New York-based Century 21 Department Stores where he led finance, procurement, IT, treasury and the private label credit business.
In addition, he was chief financial officer at Bass Pro Shops, senior vice president of finance with PetSmart, and vice president of financial planning and analysis with Circuit City.
He began his career with Home Depot, where he held various corporate accounting and finance positions from 1990 to 2005, including vice president of finance.
“[Tucker’s] analytic rigor, considerable financial management experience gained across a number of preeminent retail companies, insight on the retail industry, track record of growth and strong leadership of people will add great value as we look to build upon Genesco's recent success and drive future growth as a footwear-focused company,” said Robert J. Dennis, Genesco’s chairman, president, and chief executive officer.
The latest appointment follows Genesco’s positive performance in the first quarter of 2019, reporting better than expected sales thanks in part to its Journeys brand. Improvements in sales, coupled with reduced expenses, helped Genesco to achieve net earnings of $6.3 million ($0.36 per share) in the first quarter, a drastic improvement from Q1 2018’s net loss of $2.3 million ($0.12 per share).
Genesco’s portfolio includes Journeys, which accounts for around 65 percent of the company’s revenues, Schuh, which represents just over 15 percent of total-company sales, and Johnston & Murphy, among others.
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