Genesco Inc. announced that its Hat World subsidiary has entered into an agreement to acquire the assets of Sports Avenue and related entities.
Sports Avenue operates 46 retail stores across the United States and 13 ecommerce sites, selling officially licensed NFL, NCAA, MLB, NBA, NHL and NASCAR headwear, apparel and accessories, and had revenues of approximately $42 million for its most recent fiscal year. The transaction, which is subject to customary conditions, is expected to close in the second quarter of Genesco's fiscal 2011.
Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear and accessories in more than 2,270 retail stores in the United States and Canada, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station, Hatworld, Lids, Hat Shack, Hat Zone, Head Quarters and Cap Connection, and on internet websites. The Company also sells footwear at wholesale under its Johnston & Murphy brand and under the licensed Dockers brand.
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