Two investment analysts raised their ratings for Finish Line on Monday, saying the Indianapolis-based athletic shoe and clothing retailer has the opportunity for margin recovery and a stronger online performance.
New products from apparel makers such as Nike helped drive up earnings 6.1 percent in the fiscal second quarter, the Indianapolis-based retailer announced Friday morning. A deal with Macy’s also is paying off.
The arrangement is considered an inexpensive way to expand Lids’ reach into large, sports-centric cities. But Wednesday’s earnings report from Macy’s indicates consumers aren’t spending as much on apparel.
Indianapolis-based The Finish Line Inc. is a specialty retailer of brand-name athletic and leisure footwear, activewear and accessories. The company operates 652 stores and manages the athletic-shoe inventory in 660 Macy’s stores. It also operates 38 specialty running stores in 11 states and Washington, D.C., under The Running Company banner.
In addition to announcing quarterly results, the retailer said longtime president and chief operating officer Steve Schneider will move into the position of executive vice president of strategic initiatives.
Angie’s List turned a profit for the first time in nearly two decades.
The Indianapolis-based retailer is debt-free and has amassed $227 million in cash on its balance sheet. That works out to $4.63 per share.
BlueMile, a local six-store running specialty chain, has been acquired by a group that includes Indianapolis-based sports goliath The Finish Line Inc. The deal is expected to speed BlueMile’s expansion.
Becoming the exclusive athletic footwear partner of the department store chain could increase Finish Line’s annual revenue as much as 30 percent, executives say. Finish Line apparel will start appearing in Macy’s this weekend.
The athletic footwear and clothing company said Thursday that its fiscal fourth-quarter earnings dropped 18 percent due to lackluster sales at stores open at least a year.
Less than three months after a disastrous launch of a newly designed website that cost the retail company $3 million in sales, The Finish Line Inc. has parted ways with its chief digital officer.
The earnings fell short of predictions by analysts polled by Thomson Reuters, which recently forecast per-share earnings of 10 cents on revenue of $296 million.
The Indianapolis-based chain rolled out a new FinishLine.com four days before Black Friday. But glitches and customer complaints forced it to revert to the legacy version Dec. 6.
This year’s Cyber Monday could be the biggest online shopping day of the year for the third year in a row. Indianapolis-based retailers The Finish Line and HHGregg are among those offering Cyber Monday specials.
Indiana Fever players will wear a prominent Finish Line logo on the front of their uniforms as part of a major sponsorship deal with the Indianapolis-based athletic apparel retail chain, team officials announced Friday afternoon.
The Indianapolis-based athletic apparel retailer expects its sales to grow by $250 million to $350 million a year as a result of a deal with Macy’s Inc. to become the department store chain’s exclusive athletic footwear partner.
An analyst downgraded The Finish Line Inc.'s stock on Wednesday, saying that the Indianapolis-based sneaker and athletic clothing retailer will likely continue to lose share to rival Foot Locker.
The Finish Line Inc., 3308 N. Mitthoeffer Road, Indianapolis, www.finishline.com, is a specialty retailer of brand-name athletic and leisure footwear, activewear and accessories.
A prototype store launched by athletic shoe and apparel retailer The Finish Line Inc. on May 25 aims to use technology to marry brick-and-mortar to the company’s online operation. But interactive tablets that are a centerpiece of the so-called omnichannel strategy are not yet up and running.
The Indianapolis-based retailer’s profit fell 25 percent in the first quarter, but beat analyst predictions. Shares rose nearly 12 percent on the day.
