Home / Knowledge / News / Apparel/Garments / Sales up 6.5% at Finish Line in Q1 FY'12
Sales up 6.5% at Finish Line in Q1 FY'12
29
Jun '12
The Finish Line Inc. reported results for the first quarter, representing the 13-week period ended June 2, 2012.

For the first quarter ended June 2, 2012:

  • Consolidated net sales, inclusive of Finish Line and The Running Company, increased 6.5% to $319.0 million.
  • Finish Line comparable store sales increased 8.0% on top of a 6.5% increase for the same period a year ago.
  • Digital sales, which are included in the comparable store sales results, were up 28.1%.
  • Earnings per diluted share were $0.24.

“Our first quarter comparable sales performance reinforces the Finish Line’s status as a premier destination for athletic footwear,” said Chairman and Chief Executive Officer Glenn Lyon. “We are bringing the marquee brands and top products in our space to our consumers across multiple channels in an increasingly diverse way.

“As the consumer continues to redefine the retail experience, we are making investments behind an omni-channel strategy that we believe will strengthen our vendor relationships and enhance our connection with consumers. While we are still in the early stages of a multi-year transformation, I have great confidence in this organization’s ability to successfully deliver on our near-term promises while at the same time remain on a strategic course towards $2 billion in total company sales and $2.50 in earnings per share by fiscal 2016.”

Balance Sheet

As of June 2, 2012, consolidated merchandise inventories increased 14.6% to $236.5 million compared to $206.5 million as of May 28, 2011. For Finish Line, merchandise inventories increased by 11.9%.

The company repurchased 1.5 million shares of its outstanding common stock in the first quarter, totaling $32.4 million. The company has 2.3 million shares remaining on its 5-million-share authorization.

As of June 2, 2012, the company had no interest-bearing debt and $262.0 million in cash and cash equivalents, compared to $287.0 million a year ago.

Outlook

Based on first quarter results, the company now expects earnings per share for the fiscal year ending March 2, 2013 to increase between 6 to 7% over the $1.53 in fiscal 2012, which excludes the $0.07 impact from the 53rd week, up from its previous guidance of mid-single digit growth. This guidance assumes an annual comparable store sales increase of 5 to 6%.

The Finish Line, Inc. is a premium retailer of athletic shoes, apparel and accessories. The company has two retail divisions -- Finish Line, which operates 640 Finish Line brand stores in malls across the U.S., and The Running Specialty Group, which operates 19 specialty running shops in seven states and the District of Columbia under The Running Company banner.

The Finish Line Inc


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Karan Toshniwal
Orange O Tec

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

Md Hanifur Rahman
Aman Group

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

Harsh Shah

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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