Finish Line chairman and CEO Glenn Lyon said the company’s successful execution of its consumer-centric omnichannel strategy drove solid gains in its core business and that growth initiatives contributed meaningfully to its record full-year revenue and profits.
The company reported net income of $42.75 million during the fourth quarter, up 28% from $33.47 million in the year-ago period. Net sales climbed 17% to $518.87 million from $442.68 million and same-store sales increased 6.3%.
“We have a clear vision for building on our strong market position through innovative product, superior service, and effective consumer engagements. With that vision and our strong team, we move forward optimistic about our near and long-term growth prospects,” said Lyon.
During the full fiscal year, net income rose 8% to $76.9 million from $71.47 million and net sales grew 16% to $1.67 billion from $1.44 billion. Same-store sales increased 4.2%
Looking ahead, Finish Line expects comparable store sales to be up mid-single digits and earnings per share to increase in the high single to low double-digit range from fiscal year 2014.