Finish Line turns the corner with help from e-commerce

The Finish Line Inc. says its efforts to improve digital fulfillment rates are paying off, as the sporting goods retailer posted an increase in same-store sales in the fourth quarter.



For the fourth quarter ended Feb. 27, consolidated net sales at the Finish Line were $580.3 million, an increase of 5.2% over the prior year period. Same-store sales increased 4.6%. Non-GAAP diluted earnings per share, which primarily excludes the impact from the write-off of technology assets and store impairment charges, were 83 cents.



“We worked diligently to improve digital fulfillment rates and flow new inventory to our stores during the fourth quarter, which helped us achieve a mid-single digit comparable sales increase and adjusted earnings per share at the high-end of our guidance range,” said Sam Sato, CEO of Finish Line. “In addition to achieving optimal performance from our supply chain, our top priorities are continuing to bolster our vendor relationships and fortifying the foundational strengths of the company through new leadership and improved processes. I am confident that elevating our execution across the organization will result in an enhanced customer experience and drive profitable growth and increased shareholder value over the long-term.”



For the full year, consolidated net sales were a record $1.89 billion, an increase of 3.8% over the prior year. Same-store sales increased 1.8%. Non-GAAP diluted earnings per share were $1.21.



The Finish Line said it expects same-store sales to increase in the 3% to 5% range and earnings per share to be between $1.50 and $1.56 in fiscal 2017.



The Finish Line has approximately 980 Finish Line branded locations primarily in U.S. malls and shops inside Macy’s department stores.