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Stock impact report

Genesco Inc. Announces Additional Actions In Response To Impact Of COVID-19

Genesco Inc. (GCO) 
Last genesco inc. earnings: 3/12 06:50 am Check Earnings Report
US:NYSE Investor Relations: genesco.gcs-web.com/investor-overview
Company Research Source: PR Newswire
NASHVILLE, Tenn., April 6, 2020 /PRNewswire/ -- Genesco Inc. (NYSE: GCO) today announced additional proactive steps in its efforts to significantly reduce expense, capital and inventory levels to mitigate the negative financial and operational impacts of COVID-19 and improve liquidity:Announced it had furloughed employees and reduced headcount in its Middle Tennessee area corporate offices, call centers and distribution centers. Furloughed employees will continue to receive Company-offered health care benefits and Genesco will pay both employee and company premiums. Combined with the store and other furloughs already announced, the Company has reduced its workforce by 90%. In addition, more highly compensated employees will have their pay reduced based on a graduated scale and certain employee benefits, including 401(k) matching, will be temporarily suspended. The Company's U.K.-based Schuh business has announced that, effective April 3, 2020, it has reopened its e-commerce operations Show less Read more
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