The Finish Line Inc. and UBS AG plan to appeal the Nashville judge's order that a $1.5 billion purchase of Genesco must go through. Finish Line and UBS want a Tennessee appeals court to decide the case before the March 3 start of a separate federal l
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Third Quarter Retail Profits Hurt by Charges, Weak Comps..
With over two-thirds of the sporting goods industry’s retailers reporting comparable store sales declines for the third quarter, the segment would have to make serious strides in gross margin to see any improvement on the bottom line…
Sports Retail Market Sees a Changing Landscape…
Most of the key stories featured in the annual Sports Executive Weekly year in review issues over the last five years have been centered around mergers & acquisitions as the market consolidated and private equity firms, flush with cash, found companies in
Finish Line Hurt by Litigation, Weaker Mall Sales…
The Finish Line, Inc. lost the first round in its bid to extricate itself from its planned merger with Genesco, Inc., and while both parties await for their day in court to address the potential solvency issues of such a union, the impact of the litigatio
Nike, Inc. Spends Big to Drive Fiscal Q2 Growth…
Nike, Inc. reported that the Nike brand posted a mid-single-digit revenue increase in the U.S. region for the fiscal second quarter through November, but the real energy continued to come out of the international business as emerging markets in both Europ
The Finish Line Expects Q3 Loss on Weak Sales…
The Finish Line, Inc. saw consolidated net sales from continuing operations total $268.7 million for the third quarter, a decrease of 4.0% from $280.0 million for the same period last year. The company noted a $6.7 million benefit in the year-ago quarter
Finish Line Sees 3.6% Q3 Comps Decline; Expects Net Loss
The Finish Line, Inc. saw consolidated net sales from continuing operations total $268.7 million for the third quarter, a decrease of 4.0% from consolidated net sales from continuing operations of $280.0 million for the same period last year. Total compan
Finish Line Lenders Extend Deadline to April
Finish Line Inc. said Thursday its lenders will extend the termination date for financing the retailer's proposed $1.5 billion takeover of Genesco Inc. UBS Loan Finance LLC and UBS Securities LLC extended the termination date to April 30, 2008, from
Mall Promotions Take Toll on Q2 Retail Results…
The weak mall environment that dominated sporting goods retail in the first quarter persisted through the second as retailers in turn looked to generate sales and lower inventories through promotions and clearances. In addition, the shifting calendar that
UBS May Be Nervous About FINL/GCO Deal
The Finish Line, Inc has received and released excerpts from two letters from UBS Loan Finance LLC and UBS Securities LLC, which have also been provided to Genesco Inc. UBS had previously provided FINL with a commitment letter regarding financing for its
Finish Line Engages Moelis as Financial Advisor
The Finish Line, Inc. announced that it has engaged Moelis Advisors as non-exclusive financial advisor and non- exclusive capital markets advisor. Moelis is a division of New York-based Mercanti Securities LLC, which is a unit of Los Angeles-headquartered
Finish Line Pulls Plug on Paiva…
The Finish Line announced plans to close its Paiva women's athletic chain just 18 months after their debut in upscale malls in order “to focus capital on higher return opportunities.” The 15 stores, along with Paiva's Web site, will shut down by
The Finish Line and Genseco See Merger Deal Pass FTC Muster…
The Finish Line, Inc. and Genesco Inc. announced last week that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Act, in connection with the companies' pending merger. The deal, which is exp
Weak Mall Environment Slows Q1 Retail Growth…
The biggest impact on the sports lifestyle retail market during the fiscal first quarter was the lack of energy at the mall, which turned overall retail results downward for the period, especially on the bottom line. This softness resulted largely from r
SEW Goes One-on-One With Finish Line’s Sam Sato
In March, Sam Sato became EVP and CMO of The Finish Line chain. Previously, Sato spent 22 years at esteemed high-end chain Nordstrom, most recently overseeing the entire men’s shoe business. Under Sato’s leadership, the athletic business at Nordstrom grew
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