INDIANAPOLIS--(BUSINESS WIRE)--May. 30, 2012--
The Finish Line, Inc. (NASDAQ: FINL) will today outline its strategy to
drive future growth and discuss its long-term operating targets at its
Investor and Analyst Event. In addition, the Company updated its fiscal
first quarter outlook.
Long-Term Operating Targets
The Company is providing a long-term outlook that includes the following
goals for fiscal 2016:
Consolidated net sales of $2 billion;
Finish Line store sales of $1.4 billion;
Finish Line digital sales of $450 million;
The Running Specialty Group sales of $150 million;
Operating income of $200 million;
Diluted earnings per share of $2.50; and
Return on Invested Capital of 25%.
The Company’s presentation to analysts and investors is scheduled to
begin today, May 30, at approximately 11:45 a.m. ET and last until
approximately 2:15 p.m. ET. A live webcast of the event will be
available by clicking the 'Investor Relations' link under the Company
section on www.finishline.com
and a replay will be available for 90 days. The slide presentation will
be made available on the Company’s Investor Relations website following
the conclusion of the meeting.
Fiscal First Quarter Updated Outlook
The Company also updated its outlook for the first quarter ending June
2, 2012. Based on current projections, the Company now expects first
quarter comparable store sales to increase approximately 8.5% and
diluted earnings per share to be between $0.22 and $0.23. This compares
to its previous outlook for comparable store sales to increase in the
mid single-digit range and diluted earnings per share of approximately
The Company plans to report actual fiscal 2013 first quarter results on
Thursday, June 28, 2012 before market open and host a conference call
that same day at 8:30 am ET.
About Finish Line
The Finish Line, Inc. is a premium retailer of athletic shoes, apparel
and accessories. Headquartered in Indianapolis, the company has two
retail divisions -- Finish Line, which operates 639 Finish Line brand
stores in malls across the U.S., and The Running Specialty Group, which
operates 19 specialty running shops in seven states and the District of
Columbia under The Running Company banner. Finish Line stores employ
more than 11,000 sneakerologists who help customers every day connect
with their sport, their life and their style. Online shopping is
available at www.finishline.com
and mobile shopping is available at m.finishline.com. Follow Finish Line
on Twitter at Twitter.com/FinishLine and “like” Finish Line on Facebook
at Facebook.com/FinishLineUSA. The Running Company stores carry a deep
assortment of performance running shoes, apparel and accessories. Their
trained experts advise everyone from beginner to advanced runners and
provide free gait analysis to ensure the proper fit for each customer.
The Running Company is tightly connected to its communities, hosting
regular neighborhood group runs and sponsoring local races. More
information on The Running Company can be found at www.therunningcompany.net.
This news release includes statements that are or may be considered
“forward-looking” within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements generally can be identified by the use
of words or phrases such as “believe,” “expect,” “anticipate,” “intend,”
“plan,” “foresee,” “may,” “should,” “will,” “estimates,” “outlook,”
“potential,” “optimistic,” “confidence,” “continue,” “evolve,” “expand,”
“growth” or words and phrases of similar meaning. Statements that
describe objectives, plans or goals also are forward-looking statements.
All of these forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from
those contemplated by the relevant forward-looking statements. The
principal risk factors that could cause actual performance and future
actions to differ materially from the forward-looking statements
include, but are not limited to, the company’s reliance on a few key
vendors for a majority of its merchandise purchases (including a
significant portion from one key vendor); the availability and timely
receipt of products; the ability to timely fulfill and ship products to
customers; fluctuations in oil prices causing changes in gasoline and
energy prices, resulting in changes in consumer spending as well as
increases in utility, freight and product costs; product demand and
market acceptance risks; deterioration of macro-economic and business
conditions; the inability to locate and obtain or retain acceptable
lease terms for the company’s stores; the effect of competitive products
and pricing; loss of key employees; execution of strategic growth
initiatives (including actual and potential mergers and acquisitions and
other components of the company’s capital allocation strategy); and the
other risks detailed in the company’s Securities and Exchange Commission
filings. Readers are urged to consider these factors carefully in
evaluating the forward-looking statements. The forward-looking
statements included herein are made only as of the date of this report
and Finish Line undertakes no obligation to publicly update these
forward-looking statements to reflect subsequent events or circumstances.
Source: The Finish Line, Inc.
The Finish Line, Inc.
Yovanovich, Corporate Communications, 317-613-6714
Ed Wilhelm, Chief Financial Officer, 317-613-6914