Home / Knowledge / News / Apparel/Garments / Finish Line buys 18 specialty running chain for $8.5 mn
Finish Line buys 18 specialty running chain for $8.5 mn
03
Sep '11
The Finish Line Inc announced that it has invested $8.5 million to acquire the assets of and assume certain liabilities for an 18-store chain of specialty running shops with locations in Connecticut, District of Columbia, Florida, Maryland, Massachusetts, New Jersey, New York, and Texas with consolidated annual sales of approximately $19 million. The stores operate under banners such as Greater Boston Running Company, Texas Running Company, Georgetown Running Company, Princeton Running Company, New York Running Company and others.

The stores, the first of which opened in 1996, have earned a loyal following of serious runners who demand expert advice and precision-fitted running shoes and apparel. Key members of the chain's management team and store leadership will remain in place following the acquisition. Finish Line also plans to keep the stores operating under their current banners and will retain the culture and outstanding customer service that have made them successful.

"This acquisition is an important step in our strategic plan to drive growth outside of our core Finish Line business," said Chairman and Chief Executive Officer Glenn Lyon. "We have a tremendous growth opportunity within the specialty running business with this acquisition as the foundation of that growth. We plan to expand the number of stores and develop this chain's first e-commerce capability as well as pursue other potential acquisitions in the specialty running business. The dedicated team we have in place to drive growth outside of our core business will focus on maximizing this opportunity, which clearly leverages our company's strengths and core competencies," Lyon concluded.

Finish Line management anticipates that due primarily to start-up costs, the acquisition will be dilutive to earnings by approximately $0.01 per share in fiscal year 2012.

Finish Line is a premium retailer of athletic shoes, apparel and accessories. Headquartered in Indianapolis, Finish Line operates 647 stores in malls across the United States. More than 11,000 Finish Line sneakerologists help customers each day connect with their sport, their life and their style.

The Finish Line Inc

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search