Home / Knowledge / News / Apparel/Garments / Increased comp store sales at Finish Line
Increased comp store sales at Finish Line
Sep '11
The Finish Line, Inc. reported results for the second quarter fiscal 2012, representing the 13-week period ended August 27, 2011.

Second Quarter Results
Net sales increased 10.1% to $331.5 million compared to $301.1 million a year ago. Comparable store sales increased 11.0% on top of an increase of 2.0% for the same period a year ago.

Finish Line reported second quarter net income of $20.9 million, or $0.39 per diluted share, compared to net income of $16.8 million, or $0.31 per diluted share, a year ago. This represents an earnings per share increase of 25.8%. Operating margin increased 130 basis points to 10.2% of sales this year from 8.9% of sales a year ago.

Merchandise inventories increased 5.9% to $229.8 million at the end of the quarter compared to $217.0 million a year ago.

At quarter-end, the company had no interest-bearing debt and $289.6 million in cash and cash equivalents, up from $253.7 million at the end of the second quarter a year ago. The company repurchased 2.1 million shares of its outstanding common stock in the second quarter, totaling $44.8 million. On a year-to-date basis, 2.6 million shares have been repurchased, totaling $54.5 million. Finish Line has 4.1 million shares remaining on the 5-million-share repurchase program currently in place.

Year-to-Date Results
For the 26 weeks ended August 27, 2011, net sales increased 8.1% to $631.0 million compared to $583.5 million for the same period a year ago. Year-to-date comparable store sales increased 8.8% on top of a 6.1% increase last year.

Finish Line reported net income of $37.3 million, or $0.69 per diluted share, which is 23.2% higher than the same period a year ago, when net income was $30.5 million, or $0.56 per diluted share.

September Sales Update
Comparable store sales on a month-to-date basis for the period of August 28 through September 19 increased 9.0% on top of a 6.2% increase for the same period a year ago.

As announced September 1, Finish Line acquired the assets of an 18-store chain of specialty running shops for $8.5 million and assumed certain liabilities. Management noted that the acquisition is expected to be the foundation of future growth within the specialty running business through bricks-and-mortar and digital expansion of the acquired business as well as other potential acquisitions within the specialty running segment.

"Finish Line is effectively executing all three of our strategic priorities to drive long-term shareholder value, including growing our core business, expanding outside of our existing business and delivering direct returns to shareholders," said Chairman and Chief Executive Officer Glenn Lyon. "In Q2, we increased comp store sales and earnings within the core business for the eighth consecutive quarter and repurchased 2.1 million shares of company stock to drive shareholder returns.

Our recent acquisition within specialty running represents the first step in our strategy to expand outside of our existing business. We believe the long-range opportunities for growth in specialty running are substantial and we are pleased to start out with the best-in-class player as our foundation for that growth. Our company is evolving into a sustainable growth story and we are confident in our ability to continue to perform and execute the strategic plan that is driving our success."

Finish Line is a premium retailer of athletic shoes, apparel and accessories. Headquartered in Indianapolis, Finish Line operates 646 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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

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


Browse Our Archives


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