Exhibit 99.1

                                    PRESS RELEASE

                           GENESCO ANNOUNCES RESTRUCTURING
                          PLAN AND REVISED CREDIT AGREEMENT


          NASHVILLE, Tenn., Nov. 4, 1994 - Genesco Inc. (NYSE: GCO) today

          announced a restructuring plan designed to focus the Company's

          operations on its footwear business.

               The plan will involve charges of approximately $92.5

          million.  These charges will be included in the results for the

          third fiscal quarter ended Oct. 31, 1994, which will be reported

          later this month.  They include estimated asset writedowns,

          expenses associated with the closing of certain facilities and

          employee related costs and benefits.

               David M. Chamberlain, president and chief executive officer,

          said implementation of the plan will begin immediately.  "All 

          phases are expected to be completed during the fiscal year ending

          Jan. 31, 1996.  The Company's on-going business lines will be

          Johnston & Murphy, Jarman, Journeys, Dockers Footwear, Nautica

          Footwear, Laredo Boot Company and Volunteer Leather Company. 

          These operating units represented $392 million, or 68% the

          Company's net sales of $573 million in the fiscal year ending

          Jan. 31, 1994.  As a result of the decision to strategically

          focus on these business lines, we will be divesting both the

          Mitre soccer business and University Brands children's shoes."

               Chamberlain said, "Mitre is a recognized and successful

          international brand in the growing worldwide soccer business.  

                                        -more-

          Add one - Genesco



          We believe its established reputation will make it an attractive

          acquisition opportunity for a strategic buyer with international

          expertise and financial resources."

               "An important element of this restructuring also includes

          the decision to divest the men's tailored clothing business. 

          Although our Greif and GCO Apparel operations contributed $105.0

          million in sales in fiscal 1994, the capital now invested in the

          apparel business can be more productively employed in our

          footwear operations."

               Chamberlain added, "We are actively exploring alternatives

          which will result in the continuation of the Greif tailored

          clothing line and the Career Apparel and GCO Apparel Businesses

          through the operations of others."

               The Company also announced that the current limit of its

          revolving credit agreement has been reduced from $100 million to

          $65 million to reflect the downsizing and the borrowing

          requirements of the ongoing footwear operations.  Genesco

          presently has outstanding borrowings and commitments totalling

          approximately $44 million through that credit facility.  Certain

          covenants of the credit agreement have also been adjusted to

          reflect the impact of the restructuring charge on the third

          quarter results as well as the expected future performance of the

          continuing businesses.  The limit under the credit agreement will

          be reduced to $50 million following April 1995, and is subject to

          further reductions in case of certain asset sales.  The

          expiration of the amended agreement remains August 1996.

               Genesco, headquartered in Nashville, is a consumer products

          company which manufactures and markets footwear.