IBJNews

Finish Line got strong start to holiday season

Back to TopCommentsE-mailPrintBookmark and Share

The holiday shopping season is shaping up to be a solid one for The Finish Line Inc.

During the three-week period ended Dec. 18, the Indianapolis-based athletic apparel retailer's sales in stores open at least a year increased 7 percent from the same time last year. That figure is a key gauge of a retailer’s financial health because it excludes revenue from stores that open or close during the year.

“We’re very pleased with the start of the holiday shopping season,” Chief Financial Officer Ed Wilhelm said Wednesday after the company released its quarterly results.

Online sales are particularly strong, increasing 61 percent for Finish Line’s third fiscal quarter ended Nov. 26.

Total same-store sales for the third quarter rose 7.7 percent, compared with 10.1 percent for the same period in 2010.

Finish Line’s quarterly profit increased 35 percent, to $5.5 million, or 11 cents per share, from $4.1 million, or 8 cents per share, in the same quarter a year ago. Analysts had expected earnings of 11 cents a share, according to Thomson Reuters.

Revenue rose 8.1 percent, to $282 million.

Finish Line operates 646 stores in malls throughout the United States and 19 Running Company shops. Finish Line announced that it was acquiring the Running Company chain in September for $8.5 million.

Company shares opened Thursday morning at $20.70 each. The stock is up 20 percent this year.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

  2. It's good to hear that the festival is continuing to move forward beyond some of the narrow views that seemed to characterize the festival and that I and others had to deal with during our time there.

  3. Corner Bakery announced in March that it had signed agreements to open its first restaurants in Indianapolis by the end of the year. I have not heard anything since but will do some checking.

  4. "The project still is awaiting approval of a waiver filed with the Federal Aviation Administration that would authorize the use of the land for revenue-producing and non-aeronautical purposes." I wonder if the airport will still try to keep from paying taxes on these land tracts, even though they are designated as "non aeronatical?"

  5. How is this frivolous? All they are asking for is medical screenings to test the effects of their exposure. Sounds like the most reasonable lawsuit I've read about in a while. "may not have commited it" which is probably why they're suing to find out the truth. Otherwise they could just ask Walmart, were you negligent? No? OK, thanks for being honest.

ADVERTISEMENT