US: Genesco to end Chicago stock exchange listing
Apparel and footwear retailer Genesco plans to withdraw its listing on the Chicago Stock Exchange as part of efforts to streamline its operations and cut costs.
The Nashville-based company said the move is not likely to impact the liquidity of its stock. Its common stock will continue to be listed on the New York Stock Exchange.
By withdrawing its listing on the Chicago Stock Exchange, the group hopes to streamline its operations and eliminate duplicative administrative requirements and costs that result from dual listings.
Genesco last month saw its fourth-quarter profit decline 7% to US$38.5m on the back of one-off costs, causing it to remain cautious in its outlook.
Genesco Announces Plan To Withdraw Chicago Stock Exchange Listing
NASHVILLE, Tenn., April 5, 2013 /PRNewswire/ -- Genesco Inc. (NYSE: GCO) announced today that it intends to voluntarily withdraw the listing of the Company's common stock from the Chicago Stock Exchange. The Company has decided to withdraw its listing from the Chicago Stock Exchange to streamline its operations and eliminate duplicative administrative requirements and costs that result from dual listings. The Company does not believe that withdrawing its listing from the Chicago Stock Exchange will have any impact on the liquidity of its stock. The Company's common stock will continue to be listed on the New York Stock Exchange.
About Genesco Inc.
Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear, sports apparel and accessories in more than 2,455 retail stores throughout the U.S., Canada, the United Kingdom and the Republic of Ireland, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Underground by Journeys, Schuh, Lids, Locker Room by Lids, Johnston & Murphy, and on internet websiteswww.journeys.com, www.journeyskidz.com, www.shibyjourneys.com, www.undergroundbyjourneys.com, www.schuh.co.uk,www.johnstonmurphy.com, www.lids.com, www.lids.ca, www.lidslockerroom.com, www.lidsteamsports.com,www.lidsclubhouse.com , www.suregripfootwear.com and www.dockersshoes.com. In addition, the Company sells wholesale footwear under its Johnston & Murphy brand, the licensed Dockers brand, SureGrip, and other brands, and operates the Lids Team Sports team dealer business. For more information on Genesco and its operating divisions, please visit www.genesco.com.
Original source: http://www.prnewswire.com/news-releases/genesco-announces-plan-to-withdraw-chicago-stock-exchange-listing-201682771.html
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