Walmart's Q3 Results and Genesco's New HQ

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

In today's news: Walmart reported earnings, Genesco unveiled a new HQ and Red Wing Shoes entered the metaverse.

Here's what you need to know.

Walmart Moves Through Inventory Glut

Walmart reported better-than-expected results in the third quarter and raised its full year guidance.

Total revenue in Q3 was $152.8 billion, up 8.7% from the same time last year.

沃尔玛 president and CEO Doug McMillion also said the company has “significantly improved” its inventory position in the third quarter after several quarters of excess merchandise levels resulting in?billions of orders?being canceled in Q2.

Genesco Unveils New HQ in Nashville

Genesco has unveiled its new headquarters in Nashville, Tenn.

The footwear firm behind?Journeys, Johnston & Murphy and Schuh held an opening ceremony on Nov. 3 to celebrate the move from its former headquarters on Murfreesboro Road?— which housed the company for more than 50 years — to its new offices located at 535 Marriott Drive.

The 182,000-sq.-ft. location has seven floors devoted to its owned and licensed brands and will house more than 850 employees in total.

Red Wing Shoes Enters the Metaverse

Red Wing Shoe Co. launched “Builder’s Exchange Program,” an innovative metaverse activation that brings together virtual and real-world builders to address the skills gap in the U.S.

Teaming up with Roblox, the brand created the Red Wing Buildertown experience, where users can build virtual homes by collecting materials and consulting with the BuilderTown tradespeople via the digital platform.

For every tiny home built on Roblox, a donation from Red Wing will be given to Settled, a St. Paul, Minn.-based organization that helps house the homeless via tiny homes.

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