In the company's 672 Finish Line units, footwear comparable sales fell 5.1% and softline products were down 13.9%. Women's and children's goods posted the biggest drops, while men's dipped slightly.
At Man Alive, a 76-store hip-hop fashion chain the company acquired early last year, same-store sales fell 4.8%. In that chain and Finish Line, executives site weak sales in Major League Baseball and National Basketball Association jerseys among the culprits for tough results.
The company did not break out results for its women's Paiva chain, which operates six units and was launched in April. However, it and Man Alive contributed to the company's "disappointing" performance, says Alan Cohen, Finish Line's chief executives officer. "It was a more difficult process than we anticipated," he says of the Paiva launch. "In the past we did not have two new additional concepts that we were developing and creating."
During the quarter the retailer opened five Finish Lines and closed two, and opened 11 Man Alives and two Paivas. For the full year, the company plans 40 new Finish Lines, 35 Man Alives and 15 Paivas.
The company did not give third-quarter guidance but Cohen did express hope that new shoe lines coming out later this fall by such NBA stars as LeBron James, Tracy McGrady and Dwyane Wade would help drive sales.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
