Home / Knowledge / News / Apparel/Garments / Finish Line Q1FY'14 sales up 10%
Finish Line Q1FY'14 sales up 10%
28
Jun '13
The Finish Line, Inc. reported results for the 13-week period ended June 1, 2013.

For the thirteen weeks ended June 1, 2013:

-Consolidated net sales were $351.1 million, an increase of 10% over the prior year period.
-Finish Line comparable store sales increased 2.4%.
-On a GAAP basis, diluted earnings per share were $0.10.
-Non-GAAP diluted earnings per share, which excludes the impact of start up costs related to the launch  of Macy’s business, were $0.20.

“We are pleased with the start to Fiscal 2014 as improving trends in our Finish Line running business combined with continued strength in basketball and disciplined expense management drove our results,” said Chairman and Chief Executive Officer, Glenn Lyon.

“Strategically, the quarter was marked by significant progress on our key growth initiatives including the well-received launch of our Macy’s business in stores and online and the expansion of the Running Specialty Group footprint with the acquisition of some very productive doors. We have clear vision and sound strategies in place to transform our Company into a premier, multi-divisional, omni-channel retailer and drive increased value for our shareholders,” Lyon added.

Balance Sheet

As of June 1, 2013, consolidated merchandise inventories increased 23.7% to $292.6 million compared to $236.5 million as of June 2, 2012. The increase resulted primarily from the start-up of Macy’s business. For Finish Line, merchandise inventories increased 2.6%.

The company repurchased 366,000 shares of its common stock in the first quarter, totaling $6.8 million. The company has 4.6 million shares remaining on its current Board authorized repurchase plan.

As of June 1, 2013, the company had no interest-bearing debt and $195.9 million in cash and cash equivalents, compared to $262.0 million a year ago.

Outlook

For the fiscal year ending March 1, 2014, the Company still expects Finish Line comparable store sales to be up slightly and earnings per share to increase mid-single digit percent over fiscal year 2013 Non-GAAP diluted earnings per share of $1.47.

Finish Line

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Md Hanifur Rahman
Aman Group

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Yash P. Kotak
Bombay Hemp Company

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

Judy Frater
Somaiya Kala Vidya

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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