US: Finish Line Q4 profit up in "transformative" year
- Q4 profit of US$42.8m versus $33.5m
- Sales up 17.2% to $518.9m
- Comparable store sales increase 6.3%
A 27.7% hike in fourth-quarter net profit for US athletic apparel and footwear retailer The Finish Line marked a great end to a "transformative" year.
"The successful execution of our consumer centric omni-channel strategy drove solid gains in our core business while growth initiatives contributed meaningfully to our record full year revenue and profits," said chairman and CEO Glenn Lyon.
During the 52 weeks to 1 March, The Finish Line saw net income rise 8.5% to $75.1m, while net sales grew 15.7% to $1.67bn.
"We have a clear vision for building on our strong market position through innovative product, superior service, and effective consumer engagements," Lyon added.
"With that vision and our strong team, we move forward optimistic about our near and long-term growth prospects."
The company expects fiscal 2015 earnings per share to increase in the high single to low double digit range, and comparable store sales to be up mid single digits.
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