Finish Line's Commitment to Omnichannel Helps Drive 70% Increase in Stock Price
2013 was a banner year for Finish Line. The retailer's dedication to the omnichannel customer experience has begun to pay dividends, with shareholders enjoying an over 70% increase in share price over the past 12 months.
The stock started the year in the $17 range and is currently trading at over $28 (an all time high) — fueled in part by capital investments the corporation made to its supply-chain and CRM software. "We identified the need to evolve our business model several years ago and moved quickly to invest in an omnichannel strategy," chairman and CEO Glenn S. Lyon said.
Consolidated sales were up 22.9% in the third quarter, with over $33 million in revenue coming from Finish Line branded shops in 181 Macy's locations. "It was a very good third quarter, capped off by a strong Black Friday holiday weekend," Lyon said. "I firmly believe that the positive changes we are making across our channels of business are strengthening our consumer connections and reinforcing our market leadership. The rapid advancements in technology are reshaping all aspects of this business, from product and merchandising to marketing and logistics and, most meaningfully, the consumer experience."
One innovation the athletic product retailer invested in over the past year is handheld POS. The implementation of the devices across the chain has dramatically sped up the checkout process during peak periods. On Black Friday alone, Finish Line processed approximately 70,000 transactions through handheld devices.
As the distinction between online and in-store continues to blur customers are accustomed to taking delivery of their purchases both in-store and at home. Finish Line has invested in its supply-chain infrastructure to shorten at-home delivery times, while simultaneously taking the burden off of its brick-and-mortar locations to deliver product. As of December 20, the retailer filled 40% of orders from its distribution center in Indianapolis, up from 25% last year.
In addition to the back-room improvements to its infrastructure, Finish Line has also adjusted its customer facing communications relaying on electronic announcements to help drive sales both online and in-store. For example, 25% of the visitors to FinishLine.com are researching product to buy off-line, leading to a spike in Store Locator mobile traffic, especially on weekends. These figures are even more pronounced within members of the Winner's Circle loyalty program, where 87% are more likely to go in-store to purchase after receiving an e-mail than they are to purchase online.
For related content:
Finish Line Invests $90M CapEx on CRM, Supply Chain
Finish Line Launches into Mobile POS
Discovering the Secrets to Mobile POS
The stock started the year in the $17 range and is currently trading at over $28 (an all time high) — fueled in part by capital investments the corporation made to its supply-chain and CRM software. "We identified the need to evolve our business model several years ago and moved quickly to invest in an omnichannel strategy," chairman and CEO Glenn S. Lyon said.
Consolidated sales were up 22.9% in the third quarter, with over $33 million in revenue coming from Finish Line branded shops in 181 Macy's locations. "It was a very good third quarter, capped off by a strong Black Friday holiday weekend," Lyon said. "I firmly believe that the positive changes we are making across our channels of business are strengthening our consumer connections and reinforcing our market leadership. The rapid advancements in technology are reshaping all aspects of this business, from product and merchandising to marketing and logistics and, most meaningfully, the consumer experience."
One innovation the athletic product retailer invested in over the past year is handheld POS. The implementation of the devices across the chain has dramatically sped up the checkout process during peak periods. On Black Friday alone, Finish Line processed approximately 70,000 transactions through handheld devices.
As the distinction between online and in-store continues to blur customers are accustomed to taking delivery of their purchases both in-store and at home. Finish Line has invested in its supply-chain infrastructure to shorten at-home delivery times, while simultaneously taking the burden off of its brick-and-mortar locations to deliver product. As of December 20, the retailer filled 40% of orders from its distribution center in Indianapolis, up from 25% last year.
In addition to the back-room improvements to its infrastructure, Finish Line has also adjusted its customer facing communications relaying on electronic announcements to help drive sales both online and in-store. For example, 25% of the visitors to FinishLine.com are researching product to buy off-line, leading to a spike in Store Locator mobile traffic, especially on weekends. These figures are even more pronounced within members of the Winner's Circle loyalty program, where 87% are more likely to go in-store to purchase after receiving an e-mail than they are to purchase online.
For related content:
Finish Line Invests $90M CapEx on CRM, Supply Chain
Finish Line Launches into Mobile POS
Discovering the Secrets to Mobile POS