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Finish Line to expand headquarters, warehouse

July 30, 2008

By Norm Heikens

The Finish Line Inc. plans to add 180 employees over five years in an expansion of its warehouse and headquarters on the far-east side, the Indiana Economic Development Corp. announced today.

Finish Line, a mall retailer specializing in athletic shoes and clothing, has 670 employees in Indianapolis and 13,000 nationally.

The state offered $2.3 million in incentives based on reaching expansion goals, and the city will provide a 10-year property-tax abatement.

The company would not discuss details of the expansion, saying that comments would amount to forward-looking statements for the publicly traded company.

Finish Line is bouncing back from a bruising fight to back out of its proposed $1.5 billion acquisition of Tennessee-based mall retailer Genesco Inc. Finish Line paid Genesco $81.5 million earlier this year to end the deal after Finish Line's lender raised fears about Genesco's strength and Genesco sued in an attempt to force the transaction to close.

Finish Line late last month reported a jump in same-store sales. Its shares have rebounded to $10.33 from a 12-year low of $2.24 set in late 2007.

The shares this morning climbed a penny to trade at $10.34.

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