Strong inventory and cost controls combines with a decent performance in footwear to help The Finish Line slightly trim its loss from continuing operations in the third quarter ended November 29. These improvements helped offset continued weakness in appa
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The Finish Line Shrinks Q3 Loss; Reduces Inventories
The Finish Line fiscal third quarter sales declined 4.4% to $256.9 million for the thirteen-week period ending November 29, compared to $268.7 million in Q3 last year. Consolidated comps decreased 3.6%. By concept, comps dipped 3.3% at Finish Line and fel
The Deals of the Year (Year in Review)
The Deals of the Year, 2008…
Though lacking any of the major blockbuster deals like adidas/Reebok or even Quiksilver/Rossignol that seemed to fuel speculation in years past, 2008 did see a healthy amount of M&A activity as companies looked to achieve b
Court Cases of the Year (Year in Review)
Typically, the legal domain matters little in a year-in-review as the cases though lost or won, usually are limited in scope to particular patents or trademarks. However, two major cases drew the attention of the industry as a whole and might very well ha
Industry Members Seem Unfazed by Wall St. Turbulence During Investor Presentations
As the sky was falling on Wall Street, several industry companies remained cool, calm and collected as they spoke about their own businesses at investor conferences last week. Notably, the Bank of America Securities annual investment conference drew mana
Athletic Footwear a Ray of Sunshine in Cloudy August
As the numbers roll in for the retail fiscal month of August, it is pretty clear that retailers are looking to athletic footwear to keep footwear sales numbers in positive territory. While the later back-to-school season has clearly impacted retailers, a
First Quarter Not a Happy Place for Industry Retailers…
With few exceptions, the first quarter was a dismal time for sporting goods industry retailers as net sales rose only slightly, while margins and profits, barring a certain one-time benefit, declined. Retailer net sales increased 8.7% for the first quarte
First Quarter Not a Happy Place for Industry Retailers…
With few exceptions, the first quarter was a dismal time for sporting goods industry retailers as net sales rose only slightly, while margins and profits, barring a certain one-time benefit, declined. Retailer net sales increased 8.7% for the first quarte
Bear Takes Hold of Wall Street; Takes a Bite Out of SG…
Based on the performance of public company stocks in the active sports lifestyle industry tracked by Sports Executive Weekly, it does not appear that the sporting goods industry in recession-proof. The industry as a whole roughly matched the decline of th
Golfsmith Names Allen to Board
Golfsmith International Holdings, Inc. appointed Robert E. Allen to fill a vacancy on its Board of Directors to serve until the next annual meeting of shareholders. In addition to serving as a Director, Allen has also been appointed to the Audit Committee
Finish Line Starts New Year with Better Than Expected Results…
After a tough year maligned by the botched acquisition of Genesco Inc. as well as sluggish footwear sales, The Finish Line finally delivered some good news last week with better than expected results for its fiscal first quarter ended May 31. A surge in
Finish Line Returns to the Black, Q1 Comps Increase 1.2%
The Finish Line Inc. reported income from continued operation of $868,000, or 2 cents a share in the first quarter ended May 31, against a loss of $3.87 million, or 5 cents, a year ago. Net sales edged up 0.8% to $287.9 million from $285.8 million. Compar
Industry Q4 Retail Hurt by Lack of ‘Must Haves’…
Retailers tracked by Sports Executive Weekly saw a reversal of fortunes in the fiscal 2007 fourth quarter as the ‘must haves’ that drove gains in the prior year period failed to materialize this past Holiday season. While vendors were still capitalizing
The Finish Line Posts $38.6 Million Q4 Loss
The Finish Line, Inc. reported a loss from continuing operations of $38.6 million, or 82 cents a share for the fourth quarter, versus income from continuing operations of $25.8 million or 54 cents, a year ago. Consolidated net sales from continuing operat
A Look Inside the GSCO/FINL Settlement…
At the beginning of its quarterly conference call with analysts, Genesco chairman and CEO Hal Pennington provided an overview of the details of the settlement with The Finish Line and UBS. While the settlement calls for GCO to receive a cash payment of $
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