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| Breaking Headlines |  |
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| News...9/24/04
SEPTEMBER 24, 2004 -- SportScanINFO has sent this message out: "Based on the current track of Hurricane Jeanne, our office is once again in the projected path. In order to reduce any chance of damage, we will be taking our web site offline as of 4 pm EDT today (Friday). Our office will remain open during normal business hours as long as our online system remains operational. Hopefully, we will not sustain the same level of damage as occurred with Hurricane Frances and we can resume normal operations on Monday, 9/27/04. As a reminder, the system has been updated for the week ending 9/19/04, week 38, as of 9 am today. As always, thank you for your patience with this situation and we appreciate your support." Finish Line 2Q Sales Up 15% On 6% Comp-Gain The Finish Line's 2Q sales increased 15% to $312.2 million. Comp-store net sales increased 6% on top of an increase of 21% reported for Q2LY. Net income for Q2 was $20.8 million (85¢ per diluted share), an increase of 19% vs net income of $17.5 million for Q2LY (73¢ per diluted share). Wall Street had been expecting EPS of 87¢ a share, but the company opted to increase its marketing spend back in June when sales were very strong. As a result, catalog circulation was doubled. The e-commerce site doubled in sales in 2Q. Popular Retail-Focused Seminars From Snow Industry Summit Available Online Two of the most popular seminars presented at the 2004 Snow Industry Summit at Copper Mountain are being made available online through a partnership between SnowSports Industries America and the George Washington University Department of Sports Management. The new educational seminars are the first two that are being offered through SIA's M.O.R.E. for SnowSports initiative. M.O.R.E. stands for Mobilizing Our Resources through Education. "Retail Business: the Secrets to Successful Financial Management" was presented at the Summit by Patricia Johnson and Richard Outcalt of Retail Owners Institute. The course focuses on the Retail Strata: G Trainer, an interactive, self-paced tutorial developed by ROI to teach the basics of retail finance including income statements, balance sheets, inventory management, cash flow and more. "Many retail owners find it difficult to determine where their business will be financially next month, in the next six months or next year," said Dr. Lisa Delpy Neirotti, Ph.D. and director of the GWU Sports Management Programs. "The package developed by ROI takes the mystery out of planning and executing a smart business plan." "Retail Marketing: Merchandising for Profitability" was presented at the Summit by George Whalin, retail marketing consultant, again through the SIA/GWU Department of Sports Management. Partnership. This seminar teaches how to maximize sales and improve store or department performance with effective merchandising. The content illustrates the latest in store layout, visual strategies and techniques. It covers how to improve traffic flow; maximize sales in small and large spaces; use light to create an inviting environment; and design merchandising displays that compel customers to buy. The Secrets to Successful Financial Management and the Retail Strata G Trainer, are online now and can be accessed by logging onto www.gwutourism.org. Click on the SIA Professional Educational link. Retail Marketing: Merchandising for Profitability will be available after October 15. To register for this course, log onto www.gwutourism.org and click on the SIA Professional Educational link. New Licensees Sign On To Aspen Bradford Licensing Associates, the exclusive US licensing agent for Aspen Licensing International, expanded the Aspen licensing program. Gredico Footwear Ltd. will create a line of Aspen footwear. Products will be available throughout a variety of channels within the mass and mid-tier markets. Products will be marketed in Canada. Calego International Inc. will create a line of bags and backpacks. Products will be available throughout a variety of channels within the mass and mid-tier markets. Products will be marketed in Canada. Vima Leather, will create a line of sherling footwear, sherling outerwear, sherling and fur hats, gloves, and scarves. Products will be available throughout a variety of channels in the US with the exception of the sherling footwear which will also be marketed in Canada. Puma AG and Michael Schumacher announced that Puma will become the official supplier of racing shoes to Schumacher. The multiple F1 champion will start to wear Puma fireproof racing footwear at this weekend's Grand Prix of China in Shanghai. Wachovia Securities downgraded Quiksilver to market perform from outperform… Ryan, Beck & Co. initiated coverage of Callaway Golf with a market perform rating…CIBC World Markets initiated coverage of Hibbett Sporting Goods with a sector outperform rating…Susquehanna Financial Group is maintaining its FY05 EPS estimate of $2.44 for The Finish Line. It believes that at 10.7x its FY06 EPS estimate of $2.85 compared to the industry average P/E of 13.5x, shares of Finish Line continue to represent a compelling growth opportunity within SFG's coverage universe. |
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