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id, "Ourthird quarter results continued to reflect generally challenging economicconditions and a difficult retail environment, especially in phentermine low price. "Net sales in the Journeys Group were approximately $183 million in thethird quarter, and same store sales declined 3%. The benefit we expected fromthe shift in sales tax holidays and the onset of the back to school seasonfrom the second quarter last year to the third quarter this year was more thanoffset by the general weakness of the retail phentermine low price climate and significantunderperformance by one line of shoes that performed very strongly for theJourneys Group in the third quarter last year. While there remains someuncertainty in the marketplace, we believe Journeys is well positioned for theholiday selling season. "Net sales in the Hat World Group increased 13% to approximately $88million, and same store sales rose 2% in the third quarter. Hat World's corebusiness, particularly Major League Baseball products, performed well duringthe quarter, as did branded action product. However, Hat World sacrificedsome gross margin in connection with a program designed to adjust MLB fashioninventory levels. We completed that program during the third quarter andexpect it to benefit future performance. "Net sales for the Underground Station Group, which includes the remainingJarman stores, were $27 million, and same store sales declined 19%. Samestore sales again reflected the weak urban market, a difficult Nikecomparison, especially during the early part of the quarter, and an ongoingtransition into the chain's new merchandising strategy. While the generalretail environment and the urban market remain challenging, we expectUnderground Station to benefit from new merchandising strategies in theholiday season and from easier comparisons with last year, especially sinceNike sales were less meaningful in the fourth quarter last year. "Johnston & Murphy Group's net sales increased 4% to approximately $46million in the third quarter. Same store sales for the shops were up 3% andoperating margin for the Johnston & Murphy Group increased 220 basis points to9.4%, reflecting the continuing strength of the brand. "Third quarter sales of Licensed Brands increased 26% to approximately $29million, and operating margin increased 380 basis points to 14% reflecting thecontinuing strength of Dockers Footwear, sales of which increasedapproximately 9%, and additional sales related to the introduction of a lineof phentermine low price sourced for limited distribution under a new license in a very challenging retail environment our target consumers arecontinuing to respond very positively to the product styling, comfort andvalue found in Dockers Footwear, and our retail customers are very happy withthe performance. We believe we are poised for continued success." This release contains forward looking statements, including thoseregarding the performance outlook for the Company and its individualbusinesses, and all other statements not addressing solely historical facts orpresent conditions. Actual results could vary materially from theexpectations reflected in these statements. A number of factors could causedifferences. These include uncertainty regarding the effect and timing of theCompany's proposed merger with a subsidiary of The Finish Line, Inc. andlitigation and investigations in connection with the merger, weakness inconsumer demand for products sold by the Company, fashion trends that affectthe sales or product margins of the Company's retail product offerings,changes in the timing of holidays or in the onset of seasonal weatheraffecting period to period sales comparisons, changes in buying patterns bysignificant wholesale customers, disruptions in product supply ordistribution, further unfavorable trends in foreign exchange rates, foreignlabor and materials costs, and other factors affecting the cost of products,and competition in the Company's markets. Additional factors that couldaffect the Company's prospects and cause differences from expectations includethe ability to open, staff and support additional retail stores on scheduleand at acceptable expense levels and to renew leases in existing stores onschedule and at acceptable expense levels, the ability to negotiate acceptablelease terminations and otherwise to execute the store closing plan referred toin this release on schedule and at expected expense levels, variations fromexpected pension related charges caused by conditions in the financialmarkets, and the outcome of litigation and environmental matters involving theCompany. Additional factors are cited in the "Risk Factors," "LegalProceedings" and "Management Discussion and Analysis of Results of Operationsand Financial Condition" sections of, and elsewhere, in our SEC filings,copies of which may be obtained by contacting the investor relationsdepartment of Genesco via our website www.genesco.com. Many of the factorsthat will determine the outcome of the subject matter of this release arebeyond Genesco's ability to control or predict. Genesco undertakes noobligation to release publicly the results of any revisions to these forwardlooking statements that may be made to reflect events or circumstances afterthe date hereof or to reflect the occurrence of unanticipated events.Forward looking statements reflect the expectations of the Company at the timethey are made. The Company disclaims any obligation to update such statements. The Company's live conference call on November 29, 2007, at 7:30 a.m. Continued... ... phentermine low price