Finish Line races ahead

Indianapolis – The Finish Line Inc. finished ahead of Wall Street expectations for profit and revenue in the first quarter of fiscal 2016. Net income rose 29% to $13.73 million from $10.65 million in the prior year period.



A higher gross profit, as well as significantly lower impairment and store closing charges, drove the increase in net income. Net sales grew 9% to $443.39 million from $406.53 million. Same-store sales at the Finish Line banner increased 5.5%.



“Fiscal 2016 is off to a solid start,” said Glenn Lyon, chairman and CEO of Finish Line. “We’re delivering an enhanced customer experience with our commitment to offering latest and greatest merchandise assortments and providing world class service. We will continue to drive consistent growth and increased profitability across each of our divisions with focus on our customer-centric operating model. We are confident these strategies will translate into greater value for our shareholders over the long-term.”



During the full fiscal year, Finish Line expects same-store sales to be up in the low-single to mid-single digit range and earnings per share to increase in the low-single to mid-single digit range.