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Finish Line CEO on Earnings, Macy’s Partnership

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    Finish Line CEO Glenn Lyon on the benefits of the company’s partnership with Macy’s.

  • Duration 4:51
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-- -- running shoes finish line does they've just signed an exclusive deal with Macy's today after posting better than expected earnings.

Business is really -- for this company the athletic footwear company will open footwear stores inside 450.

Macy's department stores.

Making finish -- the very first athletic footwear retailer to partner.

With the retail giant joining us now in a Fox Business.

It's -- CEO finish line Glen Lyon thank you for being here mr.

-- not just looking at your numbers they look pretty good.

Same store sales as well but 19% increase in your earnings.

What is really driving it for you at a time when the consumer isn't exactly robust.

-- actually was 26%.

Increase in the earnings.

But.

-- our our business.

Has been terrific now firm for quite awhile for a number of quarters.

And it has everything to do with product.

The the -- development engine of our brands has gone into full gear over the last few years in the innovation.

Has been great.

And our core customer the teenage kid is loving what they're seeing and it just keeps coming.

You're same store sales will see -- get this right up 12% is that correct right.

OK so so you know what we're waiting to hear from your competitor as well foot -- about how they did but if if business is good for you.

Obviously it was good enough that Macy says let's bring in finish line to open many stores -- our -- talk about that process of how do you got together with Terry Lundgren company to make this happen.

Well -- -- I made a phone call about a year ago.

I had Saddam student of the of the business and I shop and a lot of stores and I actually -- to ten years of my career Macy's back in the seventies.

So I made a call into their business development people on the -- I think I can help you.

I think we have access to products that can elevate here your presentation your assortment and then turn obviously the revenues.

So calm about six months after -- made that first call we started to engage in conversations.

And I think we we all came to the conclusion that.

Partnership like this could help both companies.

While -- are you worried at all and end.

Illuminate mayor let me know if if I'm completely wrong on this but that thing you would see some cannibalization of your own net standalone stores -- finish line if your -- -- Macy's has some other partnerships.

And we've been privy to some of the information as to how the transitions occurred.

And although there was very minimal cannibalization right at the start.

What happened is is that over the first year of doing business everything elevated.

It expose the brand to customers our brand finish line to customers.

Who were not.

I'm due -- intimately familiar with -- this is a -- new demographic for us.

The department store demographic which is -- female is is really only 20% of of the business we do it finish line today.

So this is really venturing into and into engaging with -- brand new customer for us.

You know so much -- retail is.

Fickle tastes of teenagers and especially when it comes to your product itself people change their minds a lot I know you -- Nike Nike just had a tough quarter that they reported.

And now I have my ten year old coming home and saying mom I need to perk us assess what the heck of America she shows me it's a little Italian sneaker.

Are you concerned that -- no longer cool you deal with them you tell me what's gonna be the hot.

Seller you know very you -- your daughter has very sophisticated tastes I now I think I figure -- -- -- that back.

Quite the contrary.

Nike.

Especially in the states in North America.

Continues to be very strong and if you look at their futures and there earnings out of North America.

Business continues to be very powerful and companies like mine have been able to take advantage of that.

As we partner with Nike on all of the -- -- products that they continue to come to the market with.

Where we're especially strong in running and basketball.

And those -- two categories that Nike especially but other brands as well.

A devious and Brooks and people like that.

Have come with some great innovation in the last couple years and the B keeps going it just keeps coming so we're very optimistic about.

The marketplace and our position and it.

Glenn will follow the story and we'd love to walk into one of those little -- stores and Macy's with you at some point so please let us do that.

Great look forward -- -- -- and CEO of finish on 450 mini stores inside the Macy's and I loved.

Fact that he used his old connections yet the work they're -- you never lose a connections -- You never know when they can come back to help -- -- stuff what.

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