Athletic footwear sales were soft this summer

With nearly 1,100 stores in malls nationwide, it appears that 2015 was not the summer of the sneaker for Finish Line.



The retailer reported weaker-than-expected sales for its second quarter ended Aug. 29. The results weren’t awful, with sales advancing 3.5% to $483.2 million and same-store sales up 1.5%. However, gas prices were in free fall for much of the year and the unemployment rate was in decline, which should have left Finish Line’s core customer with money in their pockets and no reason to not drive to the mall.



Instead, net income declined to $25.9 million from $26.2 million. Earnings per share grew to 57 cents from 54 cents thanks to share repurchase activity, which reduced the number of outstanding shares.



“We are pleased with the bottom line performance we achieved on modest sales growth,” said Glenn Lyon, Finish Line’s chairman and CEO. “With our new supply chain system now live, we have accomplished a critical milestone which elevates our customer service levels even higher while driving efficiencies throughout our organization. The combination of our enhanced infrastructure and strong vendor partnerships has us well positioned to deliver the latest and greatest merchandise assortments our customers will be looking for this holiday season and beyond.”



The company said it still expects to achieve full year same-store sales growth in the low- to mid-single digit range.