Finish Line store merchandise inventories flat in Q4 2006
30 Mar '07
3 min read
Consolidated net sales increased 2.5% to $1.34 billion for Fiscal 2007 compared to $1.31 billion for Fiscal 2006. Excluding the fifty-third week in Fiscal 2007, consolidated net sales increased 0.6% from the same fifty-two week period in Fiscal 2006. Comparable store net sales decreased 5.7% for Fiscal 2007 as compared to the 0.7% increase reported for Fiscal 2006.
Total merchandise inventories on a consolidated basis were $287.3 million at March 3, 2007 compared to $268.6 million at February 25, 2006. On a per square foot basis, Finish Line store merchandise inventories were flat compared to one year ago.
Mr. Alan H. Cohen, Chairman and CEO, stated, "During Fiscal 2007, we worked diligently to balance our product assortment in response to consumer demand for both performance and sport style products. We believe that Finish Line is taking the necessary steps to position the Company for improved performance in fiscal 2008. While we expect the short-term environment for specialty athletic retailing to be challenging we remain confident in the long-term growth of the business."
Conference Call: The Company is hosting a live conference call at 8:30 am (ET) on Friday, March 30th. Those interested in listening to the call on the web can do so at company's website.
This replay will be available commencing at approximately 9:45 am ET on Friday, March 30th and will remain available through April 3rd. In addition, the replay will be available on the web at company's website.
marketing@alchempro.com
