About Genesco Inc.
Genesco Inc., a Nashville-based specialty retailer and branded company, sells footwear and accessories in more than 1,455 retail stores throughout the U.S.,
Canada, the United Kingdom and the Republic of Ireland, principally under the names Journeys, Journeys Kidz, Little Burgundy, Schuh, Schuh Kids, Johnston & Murphy, and on internet websites www.journeys.com, www.journeyskidz.com,
www.journeys.ca, www.littleburgundyshoes.com, www.schuh.co.uk, www.johnstonmurphy.com, www.johnstonmurphy.ca, www.nashvilleshoewarehouse.com, and www.dockersshoes.com. In addition, Genesco sells footwear at wholesale under its Johnston &
Murphy brand, the licensed Levis brand, the licensed Dockers brand, the licensed Bass brand, and other brands. For more information on Genesco and its operating divisions, please visit www.genesco.com.
Forward-Looking Statements
This release contains
forward-looking statements, including those regarding the performance outlook for the Company and all other statements not addressing solely historical facts or present conditions. Forward- looking statements are usually identified by or are
associated with such words as intend, expect, believe, should, anticipate, optimistic and similar terminology. Actual results could vary materially from the expectations
reflected in these statements. A number of factors could cause differences. These include adjustments to projections reflected in forward-looking statements, including those resulting from the effects of COVID-19 on the Companys business,
including COVID-19 case spikes in locations in which the Company operates, the roll-out of COVID-19 vaccines and the publics acceptance of the vaccines, additional stores closures due to COVID-19, the
timing of the re-opening of our stores, the timing of in-person back-to-work and back-to-school and sales with respect thereto, weakness in store and shopping mall traffic, restrictions on operations imposed by government entities and/or landlords, changes
in public safety and health requirements, and limitations on the Companys ability to adequately staff and operate stores. Differences from expectations could also result from stores closures and effects on the business as a result of civil
disturbances; the level and timing of promotional activity necessary to maintain inventories at appropriate levels; the imposition of tariffs on product imported by the Company or its vendors as well as the ability and costs to move production of
products in response to tariffs; the Companys ability to obtain from suppliers products that are in-demand on a timely basis and effectively manage disruptions in product supply or distribution,
including disruptions as a result of COVID-19; unfavorable trends in fuel costs, foreign exchange rates, foreign labor and material costs, and other factors affecting the cost of products; the effects of the British decision to exit the European
Union and other sources of market weakness in the U.K. and Republic of Ireland; the effectiveness of the Companys omni-channel initiatives; costs associated with changes in minimum wage and overtime requirements; wage pressure in the U.S. and
the U.K.; weakness in the consumer economy and retail industry; competition and fashion trends in the Companys markets; risks related to the potential for terrorist events; risks related to public health and safety events; changes in buying
patterns by significant wholesale customers; retained liabilities associated with divestitures of businesses including potential liabilities under leases as the prior tenant or as a guarantor; and changes in the timing of holidays or in the onset of
seasonal weather affecting period-to-period sales comparisons. Additional factors that could cause differences from expectations include the ability to renew leases in
existing stores and control or lower occupancy costs, and to conduct required remodeling or refurbishment on schedule and at expected expense levels; the Companys ability to realize anticipated cost savings, including rent savings; the
Companys ability to achieve expected digital gains and gain market share; deterioration in the performance of individual businesses or of the Companys market value relative to its book value, resulting in impairments of fixed assets,
operating lease right of use assets or intangible assets or other adverse financial consequences and the timing and amount of such impairments or other consequences; unexpected changes to the market for the Companys shares or for the retail
sector in general; costs and reputational harm as a result of