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Finish Line Q2 2015 Results Earnings Call Transcript

Edited Transcript of Finish Line Q2 2015 Earnings Conference Call..

Company: Finish Line Inc. (FINL)

Event Name: Q2 2015 Results Earnings Conference Call

Date: September 26, 2014 8:30 AM ET

Operator: Good morning. My name is Stephanie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Finish Line second quarter fiscal year 2015 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions) Thank you. Mr. Ed Wilhelm, Chief Financial Officer, you may begin your conference.

Ed Wilhelm – Chief Financial Officer

Good morning, everyone, and thank you for joining us. On the call with me today are our Chairman and CEO, Glenn Lyon; and President of the Finish Line Brands, Sam Sato.

Before I get started, I need to remind you that this call may include forward-looking statements involving risks, management assumptions and uncertainties that could cause actual results to differ materially from the statements expressed or implied. Such risks and uncertainties include, but are not limited to, product demand and market acceptance risks, the effects of economic conditions, the effects of competitive products and pricing, the availability of product, management of growth and other risks detailed in our news release and SEC filings.

The forward-looking statements included in this call are made only as of the date of this report, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

 

I will now turn the discussion over to Glenn.

Glenn Lyon – Chairman and CEO

Thanks, Ed, and welcome everyone. Thanks for joining us this morning. Well, needless to say, we are disappointed on our second quarter performance. While results in our core running business were solid, elements of our basketball offering underperformed versus planned.

Overall, comparable sales increased low-single digits, which were below our expectations. We had expected comp trends to accelerate in July and August, due in part to an improved product lineup for basketball. However, our brand Jordan assortment in total did not resonate with customers as expected and was the primary driver of the shortfall in the quarter.

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