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Finish Line In Sales Slump

INDIANAPOLIS-Weak fashion trends and the launching of two new chains lead to a second-quarter 6.6% same-store sales drop.

By Ian Ritter | Updated on September 22, 2006

INDIANAPOLIS-Shoe retailer Finish Line’s sales fell during its second quarter due to fashion shifts and the launching of two new chains, executives said during their conference call Friday. Net sales decreased 0.9% for the quarter ended Aug. 26, to $338.6 million, while year-over-year same-store sales dropped 6.6%.

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.

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