USA: Genesco Sells Leather Business
Genesco Inc (NYSE: GCO) today announced the completion of the sale of its leather finishing business to S. B. Foot Tanning Company.Genesco announced its agreement to sell the business to the Minnesota-based company in May 2000, noting that the transaction would sharpen its focus on retailing and marketing branded footwear.Genesco, based in Nashville, operates 724 footwear retail stores in the US, principally under the names Journeys, Johnston & Murphy and Jarman. The company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers and Nautica brands. Additional information on Genesco and its operating divisions may be accessed at its website
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