The Finish Line, Inc. (NASDAQ: FINL) today reported results for the fourth quarter and fiscal year, representing the 14-week and 53-week periods ended March 3, 2012.
For the fourth quarter ended March 3, 2012:
- Consolidated net sales, inclusive of Finish Line and The Running Company, increased 18.6% to $456.3 million.
- Finish Line comparable store sales increased 10.8%.
- Digital sales, which are included in the comparable store sales results, were up 38.3%.
- Non-GAAP diluted earnings per share, which excludes the impact of impairment charges, increased 24.6% to $0.81.
- On a GAAP basis, diluted earnings per share increased 27.0% to $0.80.
For the fiscal year ended March 3, 2012:
- Consolidated net sales, inclusive of Finish Line and The Running Company, increased 11.4% to $1.37 billion.
- Finish Line comparable store sales increased 9.2%.
- Digital sales, which are included in the comparable store sales result, were up 49.5%.
- Non-GAAP diluted earnings per share, which excludes the impact of impairment charges, increased 25.0% to $1.60.
- On a GAAP basis, diluted earnings per share increased 26.2% to $1.59.
The 53rd week of fiscal 2012 contributed $30.5 million of consolidated net sales and approximately $0.07 per diluted share to the fourth quarter and fiscal year.“We ended the fiscal year with another strong quarter and positive momentum across our business,” said Chairman and Chief Executive Officer Glenn Lyon. “Our fourth quarter and full year results are a positive indication that the sales and merchandising strategies we are deploying across our multiple channels are resonating with consumers and influencing how they shop. As the retail landscape continues to rapidly evolve, we are committed to further distinguishing the Finish Line brand from the competition and building a sustainable multi-division, omni-channel business for the future. In the near-term, this will involve additional investments in technology, personnel, marketing and store upgrades that we believe will drive increased productivity and greater efficiency through our supply chain and lead to greater earnings power in the years ahead. We are confident we have the right strategic plan in place and we look forward to building on our consistent track record of creating value for our shareholders over the long term.”
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