NASHVILLE (AP) — Genesco Inc. has purchased British footwear company Schuh Group Ltd. for about $112.6 million, saying the deal gives it a retail presence in the United Kingdom and better insight into global fashion trends.

Shares of Genesco, which sells footwear, hats, clothing and accessories, jumped $3.65, or 8.1 percent, to $48.70 in morning trading Thursday on word of the deal. Its shares reached a 52-week high of $50.63 earlier in the session.

Schuh runs 59 stores in the United Kingdom and Republic of Ireland that sell casual and athletic footwear. Genesco, based in Nashville, Tenn., has more than 2,285 stores in the U.S. and Canada.

Genesco President and CEO Robert Dennis said in a statement that Schuh is similar to its Journeys Group in customer demographics and the products they offer. Schuh's core customer is a customer 15 to 24 years cold.

In addition to the 70.5 million pounds that Genesco is paying for Schuh Group, it is assuming debt of 29.5 million pounds ($47.1 million) under Schuh's existing credit agreements.

Genesco has also agreed to pay a total of $40 million in deferred purchase payments on the third and fourth anniversaries of the closing of the deal and up to another $40 million to Schuh managers in 2015 if the business meets performance targets.

The deferred purchase price payments would amount to 15 million pounds ($24 million) on the third anniversary of the closing and 10 million pounds ($16 million) on the fourth anniversary.

Genesco covered the initial payment and related expenses with borrowings under its $89 million credit facility and with available cash.

The acquisition is expected to add to Genesco's earnings per share in its current fiscal year.

Genesco also announced Thursday that revenue at stores open at least a year rose 14 percent for the second quarter to date through June 18.

This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.