US: Finish Line profit up 34% in "strong" Q3
By Richard Woodard | 22 December 2011
Q3 net profit up 34% to US$5.5m
Net sales up 8.1% to $282m
CEO hails success of strategic plan
Athletics-focused sports retailer The Finish Line posted a 34% increase in third quarter net profit, boosted by a 60.1% surge in digital sales.
Combined net sales for Finish Line and The Running Company were up 8.1% in the three months to 26 November, with comparable store sales for Finish Line rising 7.7%. Inventories also increased 7% – 5.5% for Finish Line alone – to reach $280.4m.
And comparable store sales for Finish Line were up 7% for the 27 November to 18 December period.
Company chairman and CEO Glenn Lyon described it as a "strong performance", adding: "It is the interplay of social media and technologies such as mobile along with digital and bricks and mortar channels that is the sweet spot for Finish Line.
"Our strategic plan has led us to develop a strong presence on all of these fronts while working to keep our brand relevant everywhere."
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Sectors: Apparel, Finance, Footwear, Retail
Companies: Finish Line Inc
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