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

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

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

Suresh Patel
Sidwin Fabric

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search