Home / Knowledge / News / Apparel/Garments / Finish line committed to building omni-channel business
Finish line committed to building omni-channel business
30
Mar '12
The Finish Line Inc reported results for the fourth quarter and fiscal year, representing the 14-week and 53-week periods ended March 3, 2012.

For the fourth quarter ended March 3, 2012:
• Consolidated net sales, inclusive of Finish Line and The Running Company, increased 18.6% to $456.3 million.
• Finish Line comparable store sales increased 10.8%.
• Digital sales, which are included in the comparable store sales results, were up 38.3%.
• Non-GAAP diluted earnings per share, which excludes the impact of impairment charges, increased 24.6% to $0.81.
• On a GAAP basis, diluted earnings per share increased 27.0% to $0.80.

For the fiscal year ended March 3, 2012:
• Consolidated net sales, inclusive of Finish Line and The Running Company, increased 11.4% to $1.37 billion.
• Finish Line comparable store sales increased 9.2%.
• Digital sales, which are included in the comparable store sales result, were up 49.5%.
• Non-GAAP diluted earnings per share, which excludes the impact of impairment charges, increased 25.0% to $1.60.
• On a GAAP basis, diluted earnings per share increased 26.2% to $1.59.

The 53rd week of fiscal 2012 contributed $30.5 million of consolidated net sales and approximately $0.07 per diluted share to the fourth quarter and fiscal year.

“We ended the fiscal year with another strong quarter and positive momentum across our business,” said Chairman and Chief Executive Officer Glenn Lyon. “Our fourth quarter and full year results are a positive indication that the sales and merchandising strategies we are deploying across our multiple channels are resonating with consumers and influencing how they shop.”

“As the retail landscape continues to rapidly evolve, we are committed to further distinguishing the Finish Line brand from the competition and building a sustainable multi-division, omni-channel business for the future. In the near-term, this will involve additional investments in technology, personnel, marketing and store upgrades that we believe will drive increased productivity and greater efficiency through our supply chain and lead to greater earnings power in the years ahead.”

“We are confident we have the right strategic plan in place and we look forward to building on our consistent track record of creating value for our shareholders over the long term.”

As of March 3, 2012, consolidated merchandise inventories increased 13.9% to $220.4 million compared to $193.5 million as of February 26, 2011. For Finish Line, merchandise inventories increased by 11.9%.

The company repurchased 300,000 shares of its outstanding common stock in the fourth quarter, totaling $5.9 million. For the full year, Finish Line repurchased 2.9 million shares totaling $60.4 million. The company has 3.8 million shares remaining on its 5-million-share authorization.

At fiscal year-end, the company had no interest-bearing debt and $307.5 million in cash and cash equivalents, compared to $299.3 million at the end of fiscal 2011.

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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