Web news : Vans Triple Crown of Surfing sets webcast audience record

2013 VANS TRIPLE CROWN OF SURFING SETS WEBCASTING AUDIENCE RECORD

Huge Global Fan Base of More than 3.5 Million Yields New Action Sports High Mark

CYPRESS, CA (DECEMBER 19, 2013) - With an epic final day of the Billabong Pipe Masters webcast globally this past Saturday from Oahu's Banzai Pipeline, the Vans Triple Crown of Surfing (VTCS) set a record for the largest audience to ever witness an action sports event as more than 3.5 million people generated more than 3.9 million webcast streams and a staggering 2 million hours of webcast viewing. Over 31 years of VTCS North Shore tradition as surfing's ultimate proving grounds, audiences from more than 70 countries witnessed the best professional surfing has to offer over three events at separate breaks: The Reef Hawaiian Pro from Haleiwa,

The Vans World Cup of Surfing from Sunset Beach, and the Billabong Pipe Masters. In addition, the Billabong Pipe Masters' final day set a one-day surfing webcast record with more than 1 million viewers generating more than 1.1 streams and a whopping 596,000 hours of streaming to see 10-foot, spitting Pipeline barrels ridden by 2013 ASP World Champion Mick Fanning, 2013 Vans Triple Crown of Surfing Champion John Florence, and 2013 Billabong Pipe Masters Champion Kelly Slater.

"The gap between live surfing and live stick-and-ball sports has been officially erased," says Vans' VP Global Marketing and GM Americas Doug Palladini. "The quality of production, streaming and audience size make surfing the new gold standard in live interactive events, and we are blessed to have had the best surfers in the world collaborating with Mother Nature this year."

Multiple camera angles-including from the water looking into the tubes-along with instant replay, hi-definition super-slo-motion effects, aerial views, and interactivity with show hosts drove millions of viewers to spend an incredible 1.1 million hours of streaming, many binge-watching for eight hours at a time. During the Billabong Pipe Masters final day, a massive buzz lead trending topics across social platforms and drove an equally large interactive audience, resulting in event totals of more than 2.2 million viewers generating 2.3 million streams in surfing's largest one-event webcast ever.

"When the stars line up as they did for this year's event, I am not surprised to see all previous webcast records smashed," says Billabong's VP Global Marketing Graham Stapelberg. "However, it took a truly dedicated and talented team to achieve this year's new highs, for which we are wholeheartedly thankful."

With almost every heat holding a title, championship, or World Tour qualification outcome in the balance, drama was omnipresent throughout the VTCS's six weeks, but never higher than the final day of the Billabong Pipe Masters, with waves as big as Pipeline can handle. "Today was one of the most special days in my life," says Billabong Pipe Masters Champion Kelly Slater. "It's a day I have dreamed about since I was a little kid - big, perfect, West-angled Pipeline and a showdown at the Pipe Masters. If I had stepped away from the sport five years ago, I wouldn't have had today. I want more days like this so I'm definitely back next year."

About Vans

Vans®, a VF Corporation (NYSE: VFC) brand, is the original action sports footwear and apparel brand. Vans collections include authentic footwear, apparel, accessories and snowboard boots that are sold globally in more than 170 countries through a network of subsidiaries, distributors and foreign offices. VF Outdoor, Inc. owns and operates more than 300 stores of the Vansbrand in the United States and internationally, each offering a wide range of Vans footwear and apparel while communicating the brand and athletes' rich stories. The Vans brand promotes action sports lifestyle and youth culture through support of athletes on boards and bikes all over the globe and through progressive events such as the Vans Triple Crown of Surfing®, the Vans Downtown Showdown, the Vans Pool Party, the Vans Warped Tour® and surfing's most prestigious contest, the Vans US Open of Surfing.

More information about the Vans brand can be found at www.vans.com, Twitter @vans_66 and www.facebook.com/vans.

About Billabong

Billabong the Iconic Australian surfwear company since 1973 is proud to have the Pipe Masters as it's #1 ASP event honoring the memory of surf team member Andy Irons who passed away 3 years ago on November 2nd, 2010.  Billabong's founder Gordon Merchant had this to say "Although our company was born in Australia, we have always acknowledged Hawaii as the spiritual home of surfing.  We have supported professional contests as far back as 1986  with the Billabong Pro hosting some of the greatest moments in surfing history down to this year's Pipe Masters as Mick Fanning and Kelly Slater battled it out for the world title.

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sport event : The Gold Standard of Performance Skiwear

Goldwin Outfits Sweden National Alpine Ski Team for Sochi Olympics and Beyond

Los Angeles, CA (December 18, 2013) -- As an official supplier to the Sweden National Alpine Ski Team, Goldwin is no stranger to Olympic glory.  If there was a gold standard for the ultimate in performance skiwear, the name Goldwin would surely grace the top of the list.

Goldwin (www.goldwin-sports.com) will debut its Men's and Women's 2014-15 Winter Collection at the upcoming Ski Industries Association (SIA) Snow Show, Jan. 30-Feb. 2, in Denver (Booth #1748) at the Colorado Convention Center.

The partnership between Goldwin and the Swedish team has lasted for 25 years and been worn by many of the world's skiing champions, including the great Ingemar Stenmark.  It continues as Goldwin outfits the Swedish team participating at World Cup events and the Winter Games in Sochi, Russia in February.

From world-class competitions to world-class resorts, Goldwin takes center stage among the most prestigious skiwear brands, and stands alone with its commitment to technical excellence and style.

"I need functional gear when I'm on the slopes," says Olympic Medalist André Myhrer of Sweden.  "Goldwin delivers high-class products that make me feel comfortable every day.  My goal this winter is to win gold."

Sweden's Sport Director for the Alpine Ski Team, Anders Sundqvist, recognizes the importance of superior product:  "Since our athletes and coaches live in Goldwin clothing over 200 days a year, it's very important that the products work.  They feel great and that allows the skiers to relax and focus on their races."

ABOUT GOLDWIN, INC.

Founded in 1951, Goldwin originated as a family business, producing hiking socks and assorted accessories.  Sensing a growing consumer interest in sports, Goldwin switched to the manufacturing of sports apparel three years later.  Today, Goldwin is one of the industry's leading producers of high-end sports apparel for a multitude of sports, including skiing, outdoor running, and cycling.  Goldwin is renowned for its technological advances in fabric and silhouette designs.  A publicly-traded company, Goldwin, Inc. posted consolidated earnings of 52.5 billion yen (about $530 million US) for its fiscal year ending March 31.

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Business news : Imtech accelerates and intensifies its recovery plan in Germany

20 December 2013

Royal Imtech accelerates and intensifies its recovery plan in Germany and provides a trading update ahead of closing of the year 2013. In line with announcements of third quarter results on November 7th, 2013 Imtech has continued to focus on implementing the groups operational recovery plan. October and November results show continued stable revenue and order intake performance for the group providing a platform for recovery. Except for Germany, margin development is mostly satisfactorily also helped by the positive impact of management upgrades and the largely completed headcount reduction programs. As announced on November 7th, margin recovery of our German business will take more time and does not yet show improvement in October and November versus the first nine months of 2013.

Acceleration and intensifying of German recovery plan

Rebuilding the German organisation is in full process. Management has launched a comprehensive recovery plan named “Neue Imtech”. This program prioritizes healthy project margins over volume and focuses on efficiencies in staffing, project control and purchasing.

Furthermore the “Neue Imtech” program aims to accelerate the conclusion of previously identified  legacy issues such as overdue debtors and certain project work in progress positions in a diligent way. Conclusion on these legacy issues will balance timely resolution and cash proceeds with potential non-cash margin impact. The latter could result in valuation allowances to cover these legacy issues. Full details on the “Neue Imtech” program will be published at the annual results publication on March 18th 2014.

Headcount reduction program

The extended headcount reduction program as announced last month has progressed well. The headcount reduction programs in Benelux, Traffic & Infra, Marine and Eastern Europe units have finalised and these businesses will now increasingly benefit from the related cost savings. The first German headcount reduction program to reduce 550 FTE is expecting to finalise around year-end. The additional reduction of 300 FTE in Germany is scheduled for the first half in 2014. The headcount reduction program in the Nordic division is targeting to capture the post acquisitions integration benefits and is expected to be finished before year-end.

About Imtech

Imtech is a European technical solutions provider. We combine high quality electrical, ICT and mechanical services. From design, consultancy and engineering to maintenance management, implementation and services. Sustainable and innovative.
 

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Product news : Bauer Hockey Unveils the Future of Hockey Equipment

As the press release we publiseid last thursday, Bauer Hockey Unveiled the Future of Hockey Equipment.

Revolutionary Product Developed Exclusively For The World’s Best Players Creates Significant And Measurable On-Ice Performance Advantage

CHICAGO--Bauer Hockey, the world’s leading manufacturer of ice hockey equipment, today unveiled BAUER OD1N, the most revolutionary line of equipment ever introduced to the sport of hockey. The equipment, which took more than two years to develop and has never been seen before, was specifically designed for a select few of the world’s most elite-level athletes. Those athletes are expected to begin wearing the new product this month and during international play in February. 

The BAUER OD1N product line includes a re-imagined hockey skate, a fully personalized protective body suit and an ultra lightweight, customized goal pad constructed with materials never before used in hockey. Each of the products was designed to provide a significant on-ice performance advantage that is scientifically proven.

“We challenged our Research, Design and Development team in St Jerome, Quebec to create the ‘concept car’ of hockey equipment,” said Kevin Davis, CEO and President, Bauer Performance Sports. “We asked them, ‘What if?’ What if we took away all the limitations we normally have, like materials, cost and commercialization process and focused solely on creating equipment that can be scientifically proven to make players better. The team focused on this challenge for more than two years and the result is BAUER OD1N.”

The BAUER OD1N product was developed alongside some of the game’s best players, including Patrick Kane, Jonathan Toews, Nic Backstrom, Alex Ovechkin, Claude Giroux and Henrik Lundqvist. All six players played instrumental roles in the development process and continue to work with the company to fine tune the product in advance of international competition in February.

“Today’s hockey equipment is already so good, that it’s tough to imagine that there is still another leap to take as far as technology, but that’s exactly what Bauer did,” said Jonathan Toews, Chicago Blackhawks and Team Canada. “As a hockey player, the last thing you want to do on the ice is worry about your equipment. With this new equipment, it’s not even an after-thought because you feel like you’re not wearing anything.”

Lundqvist, the lone goaltender selected by Bauer to take part in the project, has been wearing the BAUER OD1N goal pads since late November. The New York Rangers netminder is once again expected to be the starting goaltender for Team Sweden in February.

“They are so much lighter than the old pads, you feel faster and you have more energy,” Lundqvist said. “For me, when I play the game, it’s all about quickness and reaction time. To have a pad that helps me in those areas of my game is a major advantage for me. ”
Highlights of the BAUER OD1N product include:

BAUER OD1N Skate

The BAUER OD1N skate is the lightest hockey skate ever created and features the first ever fully composite holder. Measurable On-Ice Performance Benefit: By wearing the BAUER OD1N skate, a player is not only faster, but saves more than 1,000 pounds of lifted weight over the course of a regulation hockey game. Other features of the skate include:

• Lightest skate to ever be developed. Nearly a third less weight of previously lightest Bauer skate.
• Customized carbon composite blade holder creates lightest possible design and increases overall energy transfer, providing players with a quicker first step.
• Re-designed and engineered boot construction optimizes overall weight reduction.
• Boot features lightweight CURV® Composite material for extreme reduction in weight and increased support.
• Internal boot construction features proprietary materials never before used in skate development.

BAUER OD1N Protective Body Suit

The BAUER OD1N Protective Body Suit is comprised of a two-piece base layer system with ultra lightweight exposed protective pieces, creating a level of mobility, protection and weight reduction never seen in hockey. Measurable On-Ice Performance Benefit: In a 50-foot sprint (blue line to blue line), a player wearing the BAUER OD1N Protective Suit will cross the finish line nearly a foot faster compared to traditional protective equipment. Other features include:

• Reduction of more than four (4) pounds of overall weight – more than one-third the weight carried by players wearing traditional protective equipment.
• Each protective suit is created using an optical body scan of each athlete for fully customized fit and protection.
• Two-piece base layer system integrated with internal padding traditionally found on the inside of protective equipment (shoulder pads, elbow pads, shin guards).
• Protective pieces developed from proprietary blend of composite material and high-end foams to dramatically reduce weight while increasing mobility and protection.
• Unlike traditional materials used in today’s protective equipment, the high-end foams and composites can be machine customized to each individual player.

BAUER OD1N Goal Pad

The BAUER OD1N Goal Pad is the first goal pad to utilize an outer foam layer, creating the lightest elite-level pad ever made. In addition to its lightweight properties, the pad features fully customized rebound control tailored to the specific needs of the athlete. Measurable On-Ice Performance Benefit: By wearing the new OD1N goal pad, a goalie can move from the goal line to the top of the crease a full inch faster than when he is wearing traditional pads. A goalie also saves more than 180 pounds of lifted weight over the course of a regulation hockey game. Other features of the pad include:

• More than one-third reduction in overall pad weight. The lightest elite-level pad ever created at four pounds.
• Ability to customize rebound control by inserting different foams in strategic areas of the pad, providing custom rebound control unavailable in any other pad.
• Outer pad shell comprised of one, seamless foam cover developed from materials never used before in goal pad construction. Traditional pads utilize an outer layer comprised of multiple parts sewn together.

BAUER OD1N derives from the word Odin, the Russian word for one. Odin is also the Norse god of battle, wisdom and learning.

Although not yet available in stores, Bauer Hockey expects to utilize several of the advanced technologies created for the BAUER OD1N products in future consumer product launches.
To view a replay of the BAUER OD1N press event please visit http://www.webcaster4.com/Webcast/Page/227/3003. To download the digital media kit, including pictures, b-roll, athlete interviews and more, visit http://highroad.com/clients/bauer/.

ABOUT BAUER HOCKEY

Bauer Hockey is the world’s most recognized designer, marketer and manufacturer of hockey equipment. Founded in Kitchener, Ontario in 1927, Bauer Hockey developed the first skate with a blade attached to a boot, forever changing the game of hockey. Since then, Bauer Hockey has continued to develop the most sought after products in the industry, including the widely successful SUPREME®, VAPOR® and NEXUS® lines of products. Bauer Performance Sports Ltd., the parent company of Bauer Hockey, is a publicly-traded company on the Toronto Stock Exchange whose affiliates market products under the BAUER, MISSION, MAVERIK, CASCADE, INARIA and COMBAT brand names. For more information, visit Bauer Hockey’s website at www.BAUER.com.


Contacts
Bauer Hockey / Tory Mazzola, 603-430-2111 x 5908 / Global Communications Manager
media@bauer.com

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Tradeshow : Surf Expo to get new owner

San Juan Capistrano, CA and White Plains, NY, December 20, 2013 – Emerald Expositions, Inc. (“Emerald”) and George Little Management LLC (“GLM”) announced today that Emerald has agreed to acquire GLM from Providence Equity Partners (“Providence”) for $335 million, subject to certain adjustments at, and after, closing.

GLM creates face-to-face buying, selling and networking platforms for designers, product developers, manufacturers, retailers and operators through more than 20 leading tradeshows including four of the largest 100 trade shows in the U.S. GLM’s tradeshows serve industries as diverse as home furnishings, home textiles, stationery and paper products, giftware, tabletop, gourmet housewares, contemporary furniture and interiors, personal care, art & design, antiques & jewelry, fashion, board sports & resort lifestyle, and e-commerce. GLM has approximately 130 employees and operates out of six U.S. offices.

David Loechner, Chief Executive Officer of Emerald, said, “GLM is a truly outstanding tradeshow company with an exciting portfolio and an experienced and talented workforce. This acquisition expands upon our position as a leading tradeshow organizer in the United States. I am excited about the opportunities for customers and employees of both companies that will result from bringing these two high-quality portfolios together.”

Charles McCurdy, Chief Executive Officer of GLM, said, “This transaction demonstrates the strength of GLM’s shows that have grown successfully thanks to the effectiveness of the GLM team and Providence’s support.  This is a compelling opportunity going forward for GLM and its stakeholders, and I wish David Loechner and his team the best of luck as they seek to further expand GLM's product offerings and accelerate growth.”

Michael Dominguez, a Managing Director at Providence, said “Charlie’s leadership and the dedication of the entire management team were integral to the success of this investment.  We’re fortunate to have had the opportunity to partner with GLM to accelerate growth, launch new products and make acquisitions that increased the breadth of its shows.  We believe GLM has a bright future as part of Emerald Expositions.”

The transaction is anticipated to close in January 2014, subject to customary regulatory approvals.  The acquisition will be funded with approximately $200 million of debt and a $140 million equity investment from Onex Partners III.  Emerald was acquired by Onex Partners III in June 2013.
BofA Merrill Lynch is serving as lead financial advisor, Morgan Stanley & Co. LLC is serving as financial advisor and Fried Frank is serving as legal advisor to Emerald. Credit Suisse is serving as financial advisor and Simpson Thacher & Bartlett LLP is serving as legal advisor to GLM for the transaction. Latham & Watkins LLP is serving as legal advisor to the financing sources for Emerald on the transaction.

About Emerald Expositions

Emerald is a leading operator of large business-to-business tradeshows in the United States, producing more than 65 tradeshows and conference events per year connecting over 335,000 buyers and sellers across nine diversified end-markets, including general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare and military. Emerald is headquartered in San Juan Capistrano, California. The company’s shows are typically the most prominent and important for exhibitors and attendees within their various industries.

For more information on Emerald, please visit www.emeraldexpositions.com.

About GLM

GLM brings efficiencies and opportunities to the flow of merchandise – from product development/manufacturer to vendor/brand manager to retailer to consumer – through tradeshows, consumer events and digital platforms. GLM events include NY NOW™, International Contemporary Furniture Fair®, Internet Retailer Conference & Exhibition, National Stationery Show®, Surf Expo®, SURTEX® and The Original Miami Beach Antique Show®, among others.

For more information on GLM, please visit www.glmmarkets.com.

About Providence

Providence Equity Partners is the leading global private equity firm specializing in equity investments in media, communications, education, and information companies around the world. In total, the firm’s principals manage funds with $37 billion in commitments and have invested in more than 130 companies globally since the firm's inception in 1989. Providence is headquartered in Providence, RI and also has offices in New York, London, Hong Kong, Beijing, and New Delhi.

Visit www.provequity.com for more information.

About Surf Expo

Surf Expo is the largest and longest-running trade show for the boardsports and beach industries (37 years). Surf Expo is held in January and September in Orlando, Florida, and draws buyers from specialty stores across the U.S., the Caribbean, Central and South America and around the world. Surf Expo is endorsed by the Surf Industry Manufacturers Association (SIMA), the Board Retailers Association (BRA), the Water Sports Industry Association (WSIA), the Association of Wind Sport Industries (AWSI) and the Dive Industry Association (DIA).

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Business news : 6 Pack Fitness™ Selects SMACK! Media as Public Relations Partner

San Francisco, CA (December 17, 2013) – 6 Pack Fitness™, a San Francisco-based company that is devoted to creating innovative travel gear, bags and luggage for the elite athlete and fitness enthusiasts, has selected SMACK! Media as their public relations agency effective December 1, 2013. The partnership was created as 6 Pack Fitness prepares to expand their product line from 4 to 17 meal management bags. In an expansive offering that will include luxury backpacks, purses, briefcases and duffel bags, 6 Pack Fitness has designed travel gear to meet the needs of athletes, busy professionals and parents to carry their meals, sport nutrition products, workout gear, laptops and accessories throughout the day.

“We are a team of active professionals who care about what we put into our body, and we strive to create the perfect meal management bag that meets the needs of serious athletes,” said Misha Breyburg, Founder, Creator and CCO of 6 Pack Fitness. “We understand how being out of the house can limit your nutrition options; whether it’s having to succumb to coffee shop food, compromise with unhealthy airport snacks or even the inability to find a place to store food that requires refrigeration, our bags offer space for meal management alongside office, travel and workout necessitites. This way, you’re able to stay on target with your health and fitness goals no matter where your day takes you. “

Each bag incorporates a patent-pending meal management system that allows active and health-minded individuals to carry up to a day’s worth of nutritional requirements, including meals and supplements, in addition to sports gear, computers, tablets, and travel accessories. The 6 Pack Fitness system keeps up to five meals independently accessible and fresh for more than eight hours.  Each diverse collection empowers a healthy lifestyle while redefining style for the fitness community.

Since the company’s inception in 2009, 6 Pack Fitness has become the leading bag of its kind amongst bodybuilders, Cross Fit athletes and other athletes that are equally serious about their sport and nutrition. As 6 Pack Fitness expands and continues a strong growth trajectory, SMACK! Media will be an integral partner for getting the bags and into the hands of a wider range of athletes, fitness enthusiasts, nutritionists and even the everyday commuter or parent who is focused on their nutrition regimen.

“We were referred to SMACK! Media through a reputable sports partner of ours,” said Gera Rivkin, CEO of 6 Pack Fitness. “Given their successful track record, authenticity as athletes and the way Elisette (Carlson) and her team have initiated this partnership, we look forward to a dynamic product launch campaign with them.”

To learn more about 6 Pack Fitness and their meal management tips, please visit http://www.sixpackbags.com/, friend them on Facebook at https://www.facebook.com/6PackFitness or follow them @6PackFitness.

ABOUT 6 PACK FITNESS

6 Pack Fitness™ was founded to create innovative solutions for keeping athletes on target with their fitness goals, no matter where the day takes them. The 6 Pack Fitness team is a dedicated group of people passionate about fitness, inspired by design, and serious about function.  We integrate these elements to meet the specific needs of fitness enthusiasts who carry their gear, meals, and sports nutrition products from point A to point B through Z. Our bags keep you organized, so you can focus on training hard and eating right. http://www.sixpackbags.com

ABOUT SMACK! MEDIA

SMACK! Media is a boutique relationship marketing agency that develops effective multi-dimensional brand strategy, creative development, public relations and social media campaigns, with a pinpoint focus on the sports, health and fitness markets. Our approach is grounded in inspiring and clear communication, strong relationships and a passion for execution. Make your brand stand out, give it a little SMACK! For more info, or to read about our services, visit: www.smackmedia.com


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Business and retail news : Fjallraven Continues Coast-to-Coast Retail Expansion, Adds Seattle as Fourth Store Opening in 2013

(BOULDER, CO) December 19, 2013 — Swedish heritage outdoor brand Fjällräven solidifies its North American presence in 2013 with four openings spanning coast-to-coast. The retail expansion kicked off in November with the North American flagship opening in New York City, followed by stores in Boulder, Boston, and its first West Coast opening this week in Seattle.

“To launch four stores in less than two months shows the momentum Fjällräven is experiencing in the U.S,” said Nathan Dopp, VP of Sales for Fjällräven North America. “Through our continued retail expansion, we are increasing our exposure in key communities where outdoor pursuits are inherent to the consumer lifestyle.  We will continue to grow great partnerships with our specialty retail base and use these new proprietary stores to connect with our brand history and create more engagement through on-site product and adventure experts.”

The stores showcase what Fjällräven has stood for since the brand launched in 1960— making the outdoors accessible to more people— at all experience levels. Each store will be staffed with brand ambassadors that will serve as a source for local explorations and hikes, as well as inspire customers to learn more about the brand offerings and global Fjällräven initiatives and events such as arctic adventure Polar and summer hiking event Fjällräven Classic.

The retail stores are designed to complement the high-quality gear and apparel that is synonymous with the Fjällräven brand, highlighting iconic silhouettes like the Kånken backpack and traditional outerwear offerings. Each carries a curated selection of its functional outerwear, apparel, backpacks, accessories and outdoor gear for men, women and kids.

Seattle Opens December 19, 2013— 1113 1st Avenue in the heart of downtown
New York City (North American Flagship)— 38 Greene Street in SoHo
Boulder, Colorado— 777 Pearl Street
Boston, Massachusetts— 304 Newbury Street

About Fjällräven

In 1960, Åke Nordin founded Fjällräven in his basement in the Swedish town of Örnsköldsvik. Since then, Fjällräven has made a commitment to high quality and high end design, while staying true to our mission of developing timeless, functional and durable outdoor equipment, acting responsible towards people, animals and nature and inspiring people to get outside. Today the company has presence in over 30 countries worldwide.

For more information, please visit www.fjallraven.us.

Business news : Finish Line Raises FY Guidance on Q3 Rebound

The Finish Line Inc. earned $2.3 million, or 5 cents a share, in its third quarter ended Nov. 30, rebounding from a loss of $103,000, or less than one cent a share, a year ago. Results were 5 cents ahead of Wall Street's consensus estimate. Comps increased 7.1 percent and the company raised its full-year outlook.

For the thirteen weeks ended November 30, 2013:

• Consolidated net sales were $364.5 million, an increase of 22.9 percent over the prior year period.
• Finish Line comparable store sales increased 7.1 percent.The
• On a GAAP basis, diluted earnings per share were $0.05.
• Non-GAAP diluted earnings per share, which excludes the impact of impairment charges, were $0.06.

“We are very pleased with the top and bottom line performance we delivered in the third quarter,” said Chairman and Chief Executive Officer, Glenn Lyon. “Our commitment to developing a premier omni-channel platform is strengthening both our customer relationships and our brand partnerships while also reinforcing our market leadership position. We are continually adapting and refining our strategies in this rapidly evolving retail landscape to ensure we meet the needs of today’s empowered consumer. Finish Line is on the right strategic course and is well-positioned to deliver on our near and longer term goals.”

Balance Sheet

As of November 30, 2013, consolidated merchandise inventories increased 19.5 percent to $360.5 million compared to $301.7 million as of December 1, 2012. The increase resulted primarily from the start-up of Macy’s business. For Finish Line, merchandise inventories increased 0.6 percent.

The company repurchased 200,000 shares of its common stock in the third quarter, totaling $5.2 million. The company has 4.1 million shares remaining on its current Board authorized repurchase plan.

As of November 30, 2013, the company had no interest-bearing debt and $111.9 million in cash and cash equivalents, compared to $168.2 million a year ago.

Outlook

For the fiscal year ending March 1, 2014, Finish Line now expects comparable store sales to increase approximately 3 percent-4 percent compared to its previous expectation for a low single digit increase. The Company now expects Non-GAAP earnings per share to increase 9 percent to 12 percent to $1.60-$1.65 from fiscal year 2013 Non-GAAP diluted earnings per share of $1.47. This compares to its previous expectation for a mid-single digit increase.


The Finish Line, Inc. is a premium retailer of athletic shoes, apparel and accessories. Headquartered in Indianapolis, Finish Line has 658 stores in malls across the U.S., manages the athletic footwear inventory in 660 Macy’s stores including 198 branded or staffed shops, and employs more than 13,000 sneakerologists who help customers every day connect with their sport, their life and their style. Online shopping is available at www.finishline.com and www.macys.com.

Finish Line also operates the Running Specialty Group through a venture with Gart Capital Partners. This includes 47 specialty running shops in 12 states and the District of Columbia under The Running Company, Run On!, Blue Mile, Boulder Running Company and Roncker’s Running Spot banners.

The Finish Line, Inc.
					Consolidated Statements of Operations (Unaudited)
					(In thousands, except per share and store/shop data)
					Thirteen Weeks Ended								Thirty-Nine Weeks Ended
					November 30,				December 1,				November 30,				December 1,
					2013				2012				2013				2012
Net sales					$	364,455			$	296,623			$	1,151,538			$	1,000,683
Cost of sales (including occupancy costs)						256,607				206,833				790,358				671,684
Gross profit						107,848				89,790				361,180				328,999
Selling, general and administrative expenses						104,092				91,447				306,903				271,004
Store closing costs						166				1				369				421
Impairment charges						841				-				841				-
Operating income (loss)						2,749				(1,658)				53,067				57,574
Interest income, net						3				38				27				167
Income (loss) before income taxes						2,752				(1,620)				53,094				57,741
Income tax expense (benefit)						1,161				(811)				20,796				22,033
Net income (loss)						1,591				(809)				32,298				35,708
Net loss attributable to redeemable noncontrolling interest						727				702				1,602				1,436
Net income (loss) attributable to The Finish Line, Inc.					$	2,318			$	(107)			$	33,900			$	37,144
Diluted earnings per share attributable to The Finish Line, Inc. shareholders					$	0.05			$	-			$	0.69			$	0.72
Diluted weighted average shares						48,709				49,949				48,733				50,977
Dividends declared per share					$	0.07			$	0.06			$	0.21			$	0.18
Finish Line store activity for the period:
Beginning of period						659				638				645				637
Opened						3				14				22				27
Closed						(4)				(1)				(9)				(13)
End of period						658				651				658				651
Square feet at end of period														3,566,404				3,531,426
Average square feet per store														5,420				5,425
Branded shops within department stores activity for the period:
Beginning of period						133				-				3				-
Opened						48				-				178				-
Closed						-				-				-				-
End of period						181				-				181				-
Square feet at end of period														224,515				-
Average square feet per shop														1,240				-
Running Company store activity for the period:
Beginning of period						39				19				27				19
Acquired						4				5				13				5
Opened						4				1				7				1
Closed						-				-				-				-
End of period						47				25				47				25
Square feet at end of period														154,348				78,120
Average square feet per store														3,284				3,125

By press release


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