• Q2 net profit up 24% to US$20.9m
  • Net sales rise 10.1% to $331.5m
  • CEO voices faith in long-term growth

Speciality retailer The Finish Line recorded a surge in second quarter profit, boosted by a double-digit sales rise and an 11% increase in comparable store sales.

Operating margins went up 130 basis points to 10.2% of sales in the three months to 27 August, while comparable store sales continued to rise in the three weeks to 19 September, increasing by 9%.

“Finish Line is effectively executing all three of our strategic priorities to drive long-term shareholder value, including growing our core business, expanding outside of our existing business and delivering direct returns to shareholders,” said Glenn Lyon, company chairman and CEO.

Lyon highlighted the company’s recent acquisition of an 18-store running chain, operating under various brand names, for $8.5m.

“We believe the long-range opportunities for growth in specialty running are substantial and we are pleased to start out with the best-in-class player as our foundation for that growth,” he said.