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

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: H&M

Apparel/Garments | On 15th Dec 2017

H&M, Alibaba extend collaboration

H&M has extended collaboration with Alibaba with the opening of its...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Paolo Ocleppo
Sandvik Hyperion

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Jay Ramrakhiani
Occasions Elegance Wear

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

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search