Finish Line Inc. finishes ahead in Q1
The CEO of the Finish Line Inc. says the company is poised for consistent growth and increased profitability after posting an increase in same store sales in the first quarter.
The Finish Line Inc. said profit rose 11% in the first quarter ended May 30. Same store sales rose 5.5%.
Glenn Lyon, chairman and CEO of Finish Line, said: “We’re delivering an enhanced customer experience with our commitment to offering latest and greatest merchandise assortments and providing world class service. We will continue to drive consistent growth and increased profitability across each of our divisions with focus on our customer-centric operating model. We are confident these strategies will translate into greater value for our shareholders over the long-term.”
A higher gross profit, as well as significantly lower impairment and store closing charges, drove the increase in net income. Net sales grew 9% to $443.39 million from $406.53 million.
During the full fiscal year, Finish Line expects same-store sales to be up in the low-single to mid-single digit range and earnings per share to increase in the low-single to mid-single digit range.
The Finish Line has approximately 1,020 Finish Line branded locations primarily in U.S. malls and shops inside Macy’s department stores and employs more than 14,000 sneakerologists. Finish Line also operates the Running Specialty Group. This includes 76 specialty running stores in 17 states and the District of Columbia under The Running Company, Run On!, Blue Mile, Boulder Running Company, Roncker’s Running Spot, Running Fit, VA Runner, Capital RunWalk, Richmond RoadRunner, Garry Gribble’s Running Sports, Run Colorado, Raleigh Running Outfitters, Striders, Indiana Running Company and JackRabbit Sports banners.
Bass Pro set to open 10th Florida store
Bass Pro Shops will soon be fishing for new customers in Florida, as the retailer has set a date for its opening in the Tampa Bay area.
According to WFLA in Tampa, the retailer says it will open its doors at10501 Palm River Rd. in Tampa on July 29.
Bass Pro Shops, which specializes in outdoorsy items, operates 92 stores and Tracker Marine Centers across America and Canada that are visited by more than 120 million people every year. Bass Pro Shops stores, many of which feature restaurants, offer hunting, fishing, camping and other outdoor gear while their catalogs and website serve shoppers throughout the world.
The company has been aggressively expanding throughout the United States and Canada since 2012.
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Home Depot joins RealPage vendor network
The Home Depot continues to find ways to drive incremental growth, this time through a partnership with a provider of software services to the rental housing industry.
The retailer has teamed with RealPage, which has a network of over 8,500 multifamily vendors – the largest supplier network in the industry. Customers of RealPage Spend Management solutions can now purchase the Home Depot’s products and services through its easy-to-use electronic catalogs, enabling users to increase their purchasing power through negotiated pricing, visibility, and compliance. In addition, the solution’s electronic invoicing provides greater purchasing efficiency by reducing paper and manual processing.
“Our customers have been asking for a single-source vendor like The Home Depot, and this collaboration helps them address the needs of their residents, while protecting the financial interest of their properties.” “We are thrilled about our new business relationship with RealPage,” said J.T. Rieves, vice president, The Home Depot Pro Business. “The Home Depot strives to be a strategic supplier to the multifamily industry, and this partnership allows us to be a serious contender for maintenance, repair, and operational needs, as well as landscaping and rehab.”
Using RealPage’s seamless purchasing solution, The Home Depot offers property managers same-day or in-store pickup, and even delivery from its thousands of locations. For customers currently using the Spend Management software, access to The Home Depot catalog is available at no additional cost.
“The Home Depot aligns with leaders in the multifamily industry, so partnering with RealPage made complete sense,” said Jennifer Lester, vice president, RealPage Spend Management. “Our customers have been asking for a single-source vendor like The Home Depot, and this collaboration helps them address the needs of their residents, while protecting the financial interest of their properties.”
Focused exclusively on the multifamily industry, RealPage Spend Management gives owners and managers access to approved vendors, streamlined purchasing, electronic invoices, and online catalogs, which helps to reduce costs associated with purchasing.