Looks like Finish Line could be Faneto….
Sneaker retailer Finish Line just wrapped up its below average third quarter earnings report, and it sounds like the company could be faneto and on the last leg.
IndyStar reports that Finish Line has announced plans to close up to 150 of its doors over the course of the next four years following a rapid drop in sales during the third quarter. Sources say the estimate amount lost is $32 million due to warehouse issues.
According to Lyon, much of Finish Line’s struggles can be attributed to a recent over carry of its order fulfillment process. “We worked quickly to address the disruption in our system and improve our operating capabilities, increasing technical and operational resources including third-party experts,” Lyon said.
Despite the struggles, Lyon seems optimistic about the future: “I am confident Sam will lead Finish Line boldly into the future as he truly understands the importance of serving the customer in an omnichannel world.”