Home / Knowledge / News / Apparel/Garments / Sales at apparel marketer Finish Line grow 3.5% in Q2FY16
Sales at apparel marketer Finish Line grow 3.5% in Q2FY16
28
Sep '15
For the thirteen weeks ended August 29, 2015, sales at The Finish Line, Inc., a marketer of apparel and accessories grew 3.5 per cent year over year.

Consolidated net sales for the second quarter of fiscal 2016 were $483.2 million, an increase of 3.5 per cent over the prior fiscal period, while comparable store sales rose slower at 1.5 per cent.

In a press release, Finish Line said its diluted earnings per share drove up to $0.57 in the quarter under review as against $0.54 in the previous fiscal's second quarter.

As of August 29, 2015, consolidated merchandise inventories expanded 11.0 per cent to $366.3 million compared to $329.9 million as of August 30, 2014.

“The increase in inventories was driven primarily by higher receipts to support projected sales gains in September which benefited from the later Labour Day compared with last year,” it explained.

The company repurchased approximately 167,000 shares of common stock in the second quarter, totaling to $4.6 million and now has 4.8 million shares remaining on its board authorised repurchase program.

As of August 29, 2015, the company had no interest-bearing debt and had $100.2 million in cash and cash equivalents.

For the fiscal ending February 27, 2016, Finish Line still expects comparable store sales to be up in the low single to mid single digit range.

It also forecasts earnings per share to increase in the low single to mid single digit range over fiscal 2015 and non-GAAP diluted earnings per share of $1.67.

“We are pleased with the bottom line performance we achieved on modest sales growth,” said Glenn Lyon, chairman and chief executive officer of Finish Line.

“With our new supply chain system now live, we have accomplished a critical milestone which elevates our customer service levels even higher while driving efficiencies throughout our organisation,” he added.

“The combination of our enhanced infrastructure and strong vendor partnerships has us well positioned to deliver the latest merchandise our customers will be looking for this holiday season and beyond,” Lyon stated.

Headquartered in Indianapolis, Finish Line has approximately 1,010 Finish Line branded locations primarily in US malls and shops inside Macy's department stores and employs more than 14,000 people.

Finish Line also operates the Running Specialty Group, which includes 76 specialty running stores in 17 states and the District of Columbia and operates under various brands. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Steve Cole
Xerium Technologies

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

Marten Alkhagen
Swerea IVF AB

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

Suresh Patel
Sidwin Fabric

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

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

Robert Brunner
Devereux

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

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

August 2017

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
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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