Finish Line (NASDAQ:FINL) nearly doubled its first quarter profit thanks to strong online sales and performance at Macy's (NYSE:M) stores.
The retailer reported a 5 percent increase in store sales for the first quarter. Consolidated net sales of $406.5 million are an increase of 15.8 percent over the same period last year.
Chairman and CEO Glenn Lyon said that the company's comnichannel approach has contributed to increased success.
"We are very pleased with the strong start of fiscal 2015 we delivered in the first quarter," said Lyon. "The integration of our store and digital operations is allowing us to deliver great product and service to consumers in a seamless fashion no matter what channel they choose to shop."
He also attributed some of the success to the retailer's growing partnership with Macy's.
Finish Line and Macy's joined forces in 2013 to offer shoppers an opportunity to browse shop-in-store departments in 450 Macy's around the country.
"We are confident that our multidivisional, omnichannel strategies will strengthen our market position and drive growth in sales and earnings, allowing us to return increased value to our shareholders in the years ahead," added Lyon.
-See this Finish Line press release
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