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                                                                    EXHIBIT 99.1



                      GENESCO DECLARES QUARTERLY DIVIDENDS

NASHVILLE, Tenn., April 30, 1998 -- The board of directors of Genesco Inc.
(NYSE:GCO) has declared dividends on the various classes of its preferred stock
for the quarter ending May 2, 1998, and for all dividend arrearages through that
date, payable May 28, 1998, to holders of record May 18, 1998.

         The rates are as follows:
- -        Subordinated serial preferred stock:
              Series 1          $0.575 quarterly; $10.35 including arrearages
              Series 3          $1.1875 quarterly; $21.375 including arrearages
              Series 4          $1.1875 quarterly; $21.375 including arrearages

- -     Subordinated cumulative preferred stock:
                           $0.375 quarterly; $6.75 including arrearages

      The dividend payment is conditioned on the prior redemption of the
Company's 10 3/8% Senior Notes due 2003, which is expected to occur on May 8,
1998.
      Genesco, based in Nashville, markets and distributes branded footwear. The
Company also operates the Volunteer Leather Company, a leather tanning and
finishing business. Genesco's owned and licensed footwear brands, sold through
both wholesale and retail channels of distribution, include Johnston & Murphy,
Dockers Footwear and Nautica Footwear. Genesco's products are sold at wholesale
to more than 2,700 retailers, including the Company's own network of 587
footwear retail stores in the U.S., operated principally under the names Jarman,
Journeys and Johnston & Murphy.