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, on track 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 disruptions in the Companys business or information technology systems either by security breaches and incidents or by
potential problems associated with the implementation of new or upgraded systems; the Companys ability to realize any anticipated tax benefits; and the cost and outcome of litigation, investigations and environmental matters involving the
Company, and the impact of actions initiated by activist shareholders. Additional factors are cited in the Risk Factors, Legal Proceedings and Managements Discussion and Analysis of Financial Condition and Results
of Operations sections of, and elsewhere in, the Companys SEC filings, copies of which may be obtained from the SEC website, www.sec.gov, or by contacting the investor relations department of Genesco via the Companys website,
www.genesco.com. Many of the factors that will determine the outcome of the subject matter of this release are beyond Genescos ability to control or predict. Genesco undertakes no obligation to release publicly the results of any revisions to
these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements reflect the expectations of the Company at the time they are
made. The Company disclaims any obligation to update such statements.