Home / Knowledge / News / Apparel/Garments / Finish Line Q1'FY15 comparable store sales up 5%
Finish Line Q1'FY15 comparable store sales up 5%
27
Jun '14
The Finish Line, Inc. reported first quarter results for the thirteen weeks ended May 31, 2014. 
 
For the thirteen weeks ended May 31, 2014: 
-Consolidated net sales were $406.5 million, an increase of 15.8% over the prior year period. 
-Finish Line comparable store sales increased 5.0%. 
-On a GAAP basis, diluted earnings per share increased to $0.25 from $0.10 in the prior year. 
-Non-GAAP diluted earnings per share, which excludes the impact of impairment charges in the current year and the impact of start-up costs related to the launch of the company’s operations in Macy’s in the prior year, increased 40.0% to $0.28 compared to $0.20 in the prior year. 
 
“We are very pleased with the strong start to fiscal 2015 we delivered in the first quarter,” said Glenn Lyon, Chairman and Chief Executive Officer. “The integration of our store and digital operations is allowing us to deliver great product and service to consumers in a seamless fashion no matter what channel they choose to shop. At the same time, we are reaching new consumers and expanding market share through our growing relationship with Macy’s. We are confident that our multidivisional, omnichannel strategies will strengthen our market position and drive growth in sales and earnings, allowing us to return increased value to our shareholders in the years ahead.” 
 
Balance Sheet
As of May 31, 2014, consolidated merchandise inventories increased 0.8% to $295.0 million compared to $292.6 million as of June 1, 2013. 
 
The company repurchased 700,000 shares of its common stock in the first quarter, totaling $18.7 million. The company has 3.2 million shares remaining on its current Board authorized repurchase program. 
 
As of May 31, 2014, the company had no interest-bearing debt and $196.6 million in cash and cash equivalents, compared to $195.9 million in the prior year. 
 
Outlook
For the fiscal year ending February 28, 2015, the company still expects Finish Line 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. 
 

Finish Line

Must ReadView All

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Apparel/Garments | On 24th Mar 2017

HKTDC hosts seminar on accessing retail market in India

The Hong Kong Trade Development Council (HKTDC) organised a seminar...

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

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

Pranav Mishra
Huemn

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

Judy Frater
Somaiya Kala Vidya

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

news category


Related Categories:
March 2017

March 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