Finish Line fails to meet expectations in Q2

Indianapolis - The Finish Line Inc. failed to meet Wall Street expectations for profit and sales in the second quarter of fiscal 2015, amid higher costs and expenses and disappointing sales of basketball shoes. For the period ended Aug. 30, the company posted earnings of $26.2 million, down from $26.5 million in the year-earlier period.



Net sales rose 7% to $466.9 million from $436 million, well below analyst predictions of $478 million. Same-store sales climbed 1.5%.



The Finish Line cited weakness in sales of basketball-related merchandise as a key factor in its disappointing sales growth.



“Our second quarter results fell short of our expectations due to softness within elements of our basketball offering while our running business was up mid-single digits driven by casual and performance styles,” said Glenn Lyon, chairman and CEO. “We are confident that we can reaccelerate sales trends in basketball by working closely with our brand partners to improve our assortments.”



Finish Line expects same-store sales to increase in the mid-single digits for the full fiscal year 2015.