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Finish Line net income jumps in Q4

Indianapolis – The Finish Line Inc. reported net income of $42.75 million during the fourth quarter of fiscal 2014, up 28% from $33.47 million in the year-ago period.

Net sales grew 17% to $518.87 million from $442.68 million and same-store sales rose 6.3%. Finish Line credited its omni-channel strategy, among other factors, as driving its impressive quarterly performance.

“The successful execution of our consumer centric omni-channel strategy drove solid gains in our core business while growth initiatives contributed meaningfully to our record full year revenue and profits,” said Glenn Lyon, chairman and CEO. “We have a clear vision for building on our strong market position through innovative product, superior service, and effective consumer engagements. With that vision and our strong team, we move forward optimistic about our near and long-term growth prospects.”
 
During the full fiscal year, net income rose 8% to $76.9 million from $71.47 million and net sales grew 16% to $1.67 billion from $1.44 billion. Same-store sales increased 4.2%

For fiscal year 2015, Finish Line expects comparable store sales to be up mid-single digits and earnings per share to increase in the high single to low double-digit range from fiscal year 2014.

© 2014