Finish Line Q3 beats estimates
New York — Finish Line Inc.'s third-quarter earnings rose 35% amid rising digital sales and higher demand for running and basketball gear. The chain has reported nine consecutive quarters of same-store sales growth, including a 7.7% jump in the latest period.
For the quarter ended Nov. 26, the company posted a profit of $5.5 million, up from $4.1 million a year earlier. Revenue increased 8.1% to $282 million. Digital sales jumped 61%, following similar increases in the first two quarters of the year.
“Our nearly 8% comp increase and EPS gain of more than 37% in the third quarter was another strong performance for our company,” said chairman and CEO Glenn Lyon. “It is the interplay of social media and technologies, such as mobile along with digital and bricks-and-mortar channels that is the sweet spot for Finish Line. Our strategic plan has led us to develop a strong presence on all of these fronts while working to keep our brand relevant everywhere.”