Home / Knowledge / News / Apparel/Garments / Finish Line Q4'FY14 EPS surges 26.1%
Finish Line Q4'FY14 EPS surges 26.1%
29
Mar '14
The Finish Line, Inc. reported results for the fourth quarter and fiscal year 2014, representing the 13 and 52 weeks ended March 1, 2014.
 
Fourth Quarter Results:
-Consolidated net sales were $518.9 million, an increase of 17.2% over the prior year period.
-Finish Line comparable store sales increased 6.3%.
-On a GAAP basis, diluted earnings per share increased 26.1% over the prior year to $0.87.
-Non-GAAP diluted earnings per share, which excludes the impact of impairment charges and the gain on the sale of an investment, increased 14.5% to $0.87.
 
Fiscal Year 2014 Results:
-Consolidated net sales were a record $1.67 billion, an increase of 15.7% over the prior year.
-Finish Line comparable store sales increased 4.2%.
-On a GAAP basis, diluted earnings per share increased 11.4% over the prior year to $1.56.
-Non-GAAP diluted earnings per share, which excludes the impact of start up costs related to the launch of Macy’s business, impairment charges and the gain on the sale of an investment, increased 12.9% to $1.66.
 
“Our strong fourth quarter performance represented a great finish to a transformative year,” said Glenn Lyon, Chairman and Chief Executive Officer. “The successful execution of our consumer centric omni-channel strategy drove solid gains in our core business while growth initiatives contributed meaningfully to our record full year revenue and profits. We have a clear vision for building on our strong market position through innovative product, superior service, and effective consumer engagements. With that vision and our strong team, we move forward optimistic about our near and long-term growth prospects.”
 
Balance Sheet
As of March 1, 2014, consolidated merchandise inventories increased 24.8% to $304.2 million compared to $243.8 million as of March 2, 2013. The increase resulted primarily from the start-up of Macy’s business. For Finish Line, merchandise inventories increased 0.2%.
 
The company repurchased 200,000 shares of its common stock in the fourth quarter, totaling $5.1 million. For the full year, Finish Line repurchased 1.0 million shares totaling $22.6 million. The company has 3.9 million shares remaining on its current Board authorized repurchase plan.
 
As of March 1, 2014, the company had no interest-bearing debt and $229.1 million in cash and cash equivalents, compared to $227.0 million a year ago.
 
Outlook
For the fiscal year ending February 28, 2015, Finish Line expects comparable store sales to be up mid single digits and earnings per share to increase in the high single to low double digit range over fiscal year 2014 non-GAAP diluted earnings per share of $1.66.
 

The Finish Line

Must ReadView All

Apparel/Garments | On 29th Jun 2016

Bangladesh revises tax at source on RMG down to 0.7%

Following requests made by trade bodies, the Bangladesh government...

AEPC chairman Ashok G Rajani speaking at the press conference. Courtesy: AEPC

Apparel/Garments | On 29th Jun 2016

Apparel sector pledges Rs 623cr investment post package

The apparel sector is buoyant after the recent announcement of Rs...

Apparel/Garments | On 29th Jun 2016

India’s apparel exports may touch $20bn in FY17: CMAI

The value of clothing exports from India is likely to touch $20...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Abhishek Ganguly
Puma India

There are quite a number of brands stepping into the sports lifestyle...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

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

Steve Cole
Xerium Technologies

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Tony Ward
Tony Ward

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella 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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search