Finish Line Q2 profit rises 24%

Indianapolis -- The Finish Line reported Thursday that net income for the quarter ended Aug. 27 rose 24% to $20.9 million, compared with $16.8 million in the year-ago period.



Sales rose 10% to $331.5 million, beating Wall Street’s expectations of $321.9 million, and same-store sales surged 11%.



On Sept. 1, Finish Line acquired an 18-store chain of specialty running shops for $8.5 million. The stores operate in eight states under banners such as Greater Boston Running Co., Texas Running Co., Georgetown Running Co., Princeton Running Co., New York Running Co. and others.



"Our recent acquisition within specialty running represents the first step in our strategy to expand outside of our existing business," CEO Glenn Lyon said. "We believe the long-range opportunities for growth in specialty running are substantial."