Finish Line looks to reaccelerate sales trends in basketball

Despite posting increases in consolidated net and comparable store sales, the Finish Line’s second-quarter results fell short of its expectations, thanks to softness in the specialty retailer’s basketball offering.



Despite the slowdown in basketball-related sales, the running-related sales increased in the mid-single digits, driven by casual and performance styles. Consolidated net sales were $466.9 million, an increase of 7.1% over the prior year period. Comparable store sales increased 1.5%.



“We are confident that we can reaccelerate sales trends in basketball by working closely with our brand partners to improve our assortments. In combination with our market leadership position in running, advanced omnichannel capabilities and growing business relationship with Macy’s, this will fuel sustainable sales and earnings growth over the long-term,” said chairman and CEO Glenn Lyon.



Looking ahead to the full fiscal year, the company still 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 over fiscal year 2014 diluted earnings per share of $1.66.



The Finish Line has approximately 1,020 Finish Line branded locations primarily in U.S. malls and shops inside Macy’s department stores. Finish Line also operates the Running Specialty Group. This includes 58 specialty running stores in 12 states and the District of Columbia under The Running Company, Run On!, Blue Mile, Boulder Running Company, Roncker’s Running Spot, Running Fit and VA Runner banners.