The Finish Line Inc. (Indianapolis) has reported an 18 percent increase in for its fourth quarter ended Feb. 26, 2005. Quarterly same-store sales increased 8 percent.
For the fiscal year, net sales also increased 18 percent and same-store sales were up 9 percent.
The athletic shoe retailer completed the acquisition of The Hang Up Shoppes, which does business under the trade name Man Alive, effective on the close of business Jan. 29, 2005. The net sales reported for the quarter and year include one month of net sales for Man Alive. However, those sales are not included in the same-store comparisons for either period.
“We are extremely pleased to end our fiscal year with another strong quarter,” said chairman and ceo Alan Cohen. “During the fourth quarter, we launched several marquee shoes and new product technologies from our brand partners. These product initiatives were well-received by our customers and give us positive momentum as we enter into a new fiscal year.”
During Q4, the company opened six new Finish Line stores and remodeled one existing store. The Company did not open or remodel any Man Alive stores during the four-week period. For the full fiscal year, the company opened a total of 71 new Finish Line stores, remodeled 27 stores and closed four stores. As of February 26, 2005, the Company operated 598 Finish Line stores compared to 531 at February 28, 2004 an increase of 13 percent. In addition, Finish Line store square footage increased 11 percent. As of February 26, Man Alive operated 37 stores.