In its second-largest acquisition, Amazon buys the company for $970 million.
Year-to-date e-commerce revenue is up 59%.
The Finish Line Inc. still won’t reveal its actual e-commerce sales, but CEO Glenn Lyon is certainly talking up the company’s Internet channel to Wall Street these days.
For the third quarter ended Nov. 26, Finish Line, No. 174 in the Internet Retailer Top 500 Guide, reported web sales increased year over year by 60.8%. Finish Line credits its mobile commerce and social media initiatives for helping drive up e-commerce sales for the first three quarters by 58.7% over the first three quarters in 2010.
“It is the interplay of social media and technologies such as mobile along with digital and bricks-and-mortar channels that is the sweet spot for Finish Line,” Lyon said on the company’s recent earnings call. “We continue to invest with purpose in technology, marketing and digital to drive the Finish Line brand business while also supporting a multi-divisional growth strategy.”
For the third quarter, Finish Line also reported:
- Total sales increased year over year 8.1% to $282 million from $260.9 million.
- Comparable-store sales increased 7.1%.
- Net income grew 34.1% to $5.5 million from $4.1 million in the third quarter of 2010.