IBJNews

Finish Line quarterly profit rises on strong sales

Back to TopCommentsE-mailPrintBookmark and Share

The Finish Line Inc. on Thursday said its second-quarter profit rose 24 percent, helped by strong sales in stores open at least a year.

During the three months ended Aug. 27, the Indianapolis-based athletic apparel retailer's profit rose to $20.9 million, or 39 cents per share, from $16.8 million, or 31 cents per share in the same quarter a year ago. Analysts expected 38 cents per share, according to FactSet.

Revenue rose 10 percent, to $331.5 million. Analysts expected $321.9 million.

Revenue in stores open at least one year rose 11 percent. The figure is considered a key gauge of a retailer's financial health because it excludes revenue from stores that open or close during the year.

In September, the measure rose 9 percent.

Finish Line is seeking to expand through acquisitions. Earlier this month it bought an 18-store chain of specialty running shops for $8.5 million.

The stores operate in eight states under banners such as Greater Boston Running Co., Texas Running Co., Georgetown Running Co., Princeton Running Co., New York Running Co. and others.

"Our recent acquisition within specialty running represents the first step in our strategy to expand outside of our existing business," CEO Glenn Lyon said. "We believe the long-range opportunities for growth in specialty running are substantial."

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
ADVERTISEMENT