EXHIBIT 99.1


Financial Contact:    James S. Gulmi  (615) 367-8325
Media Contact:        Claire S. McCall (615) 367-8283


                           GENESCO REVIEWS EFFECTS OF
                   CONVERTIBLE SUBORDINATED DEBENTURE OFFERING
                          ON EXPECTED OPERATING RESULTS

NASHVILLE, Tenn., June 24, 2003 ---- Genesco Inc. (NYSE: GCO) commented today on
the expected effects on its results of operations for the second quarter ending
August 2, 2003, of the recently announced issuance of $75 million of its 4.125%
Convertible Subordinated Debentures due 2023 and its planned redemption of
$103.2 million of 5 1/2% Convertible Subordinated Notes due 2005. The sale of
the Debentures was completed and the Notes were called for redemption on June
24, 2003. The Company said that the incremental net interest expense while both
issues are outstanding during the 30-day call period for the Notes and the loss
on early retirement of the Notes (consisting of unamortized deferred note
expense and redemption premium) would reduce diluted earnings per share for the
quarter by approximately $0.08.

         In the second half of the year, the Company will benefit from the lower
interest rate on the new issue and the lower principal amount of outstanding
debt, partially offset by a loss of interest income on the cash used to redeem
outstanding Convertible Subordinated Notes in excess of the offering proceeds.
Additionally, the Convertible Subordinated Debentures are not ordinarily
convertible unless the Company's common stock trades for at least 120% of the
$22.12 conversion price. Consequently, the shares issuable upon conversion of
the debentures will not initially be treated as outstanding for purposes of
calculating diluted earnings per share. Except for the effects of the
refinancing, the Company remains comfortable with its previously announced
earnings per share guidance for the quarter and the second half of the fiscal
year.

         James S. Gulmi, Genesco's senior vice president finance and chief
financial officer, said, "I am very pleased that Genesco has been able to
refinance our long-term debt on such favorable terms. Our strong cash position
allowed us to reduce the amount of long-term debt outstanding and





market conditions allowed us to improve on the interest rate and other terms of
our previously outstanding convertible notes."

         This release contains forward-looking statements, including those
regarding the expected effects of the transactions it discusses on the Company's
operating results for the second quarter and thereafter, the Company's earnings
per share expectations for the second quarter and the balance of the year, and
all other statements of expectation or intent. Actual results could turn out to
be materially different than these expectations, for reasons including an
unanticipated failure to redeem the 5 1/2% Convertible Subordinated Notes due
2005 on schedule, and actions or conditions that could cause the common stock
issuable upon conversion of the Convertible Subordinated Debentures to be
included in the calculation of diluted earnings per share. Other factors include
continuing weakness in consumer demand for products sold by the Company, which
could lead to lower than expected sales and product margins and, consequently,
profits. They also include changes in buying patterns by significant wholesale
customers, disruptions in product supply or distribution, changes in business
strategies by the Company's competitors, the Company's ability to open, staff
and support additional retail stores on schedule and at acceptable expense
levels, and the outcome of litigation and environmental matters involving the
Company. Forward-looking statements reflect the expectations of the Company at
the time they are made. The Company disclaims any obligation to update such
statements.

         Genesco, based in Nashville, sells footwear and accessories in more
than 1,000 retail stores in the U.S., principally under the names Journeys,
Journeys Kidz, Johnston & Murphy, Jarman and Underground Station, and on
internet websites www.journeys.com and www.johnstonmurphy.com. The Company also
sells footwear at wholesale under its Johnston & Murphy brand and under the
licensed Dockers brand. Additional information on Genesco and its operating
divisions may be accessed at its website www.genesco.com.






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