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Finish Line reports strong quarter as same-store sales rise

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Strong same-store sales and continuing website improvements helped push The Finish Line Inc. to a big profit in its first quarter, the Indianapolis-based sports-apparel retailer reported Friday morning.
    
For its fiscal first quarter ended May 31, the company earned $10.7 million, or 25 cents per share, beating analyst estimates by 4 cents. That compares with $4.5 million, or 10 cents per share, in the year-ago period.

Revenue rose 16 percent, to $406.5 million.

Same-store sales, which exclude sales at stores open less than a year, were up 5 percent compared with an increase of 2.4 percent in its previous first quarter.

“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,” Finish Line CEO Glenn Lyon said in a prepared statement. “At the same time, we are reaching new consumers and expanding market share through our growing relationship with Macy’s.”

Finish Line operates 645 stores in malls across the country and manages the athletic footwear inventory in about 700 Macy’s stores, including 260 branded or staffed shops. The company also operates 58 specialty running stores under its Running Specialty Group division.

The company said it expects its earnings per share for the full year to increase in the high-single to low-double-digit range from its earnings of $1.66 per share the year before. It didn't provide a specific number. Analysts expect earnings of $1.85 per share for the year ending February 2015, which is an 11-percent increase from the year before.

Finish Line's stock rose 92 cents, or 3.2 percent, to $30.07 per share, in morning trading. Earlier this month, the stock hit a 52-week high of $30.48 per share.

The company repurchased 700,000 shares of common stock, totaling $18.7 million, in its first quarter.
 

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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

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