Schuh Casual and Athletic Footwear Retailer Aquired by Genesco

Genesco Inc. announced today that it has acquired Schuh Group Ltd., a specialty retailer of casual and athletic footwear based in the United Kingdom. The purchase price paid at closing was 100 million pounds Sterling, subject to closing adjustments, less 29.5 million pounds outstanding under existing Schuh credit facilities, which remain in place.  The purchase agreement also provides for deferred purchase price payments totaling 25 million pounds, payable 15 million pounds and 10 million pounds 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.  Genesco has also agreed to implement a bonus plan for certain members of Schuh management which will pay a total of up to 25 million pounds in cash bonuses in 2015 subject to the Schuh business having achieved specified performance targets.

About Schuh

Schuh Group Ltd., based in Livingston, Scotland, is the U.K.'s leading fashion footwear retailer, operating from 75 stores across the U.K. and Ireland and online at www.schuh.co.uk

About Genesco Inc.

Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear, sports apparel and accessories in more than 2,285 retail stores throughout the U.S. and Canada, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Lids and Lids Locker Room, Johnston & Murphy, and Underground Station, and on internet websites www.journeys.com, www.journeyskidz.com, www.shibyjourneys.com, www.undergroundstation.com, www.johnstonmurphy.com, www.dockersshoes.com, and www.lids.com. The Company's Lids Sports Group operates the Lids headwear stores and the lids.com website, the Lids Locker Room and other team sports fan shops and single team clubhouse stores, and the Lids Team Sports team dealer business. In addition, Genesco sells wholesale footwear under its Johnston & Murphy brand, the licensed Dockers brand and other brands. For more information on Genesco and its operating divisions, please visit www.genesco.com.

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