Sporting goods retail chain The Finish Line Inc. is going to make it easier for online shoppers to return packages.
The Finish Line, No. 114 in the Internet Retailer 2017 Top 500, reported online sales of $76.6 million during the second quarter of its 2018 fiscal year ended Aug. 26, up 1.5% from $75.5 million during the same time last year. Total net sales for the quarter decreased 3.3% to $469.4 million from $485.2 million during the same time last year. Through the first six months of fiscal 2018, Finish Line reported online sales of $146.7 million, up 2.3% from $143.4 million last year.
Finish Line CEO Sam Sato told analysts on the retailer’s Q2 2018 earnings call late last week that more than 70% of the retailer’s online traffic now comes from shoppers on mobile devices.
With online sales growing and overall sales declining, the retailer is upgrading its website to improve communication with online shoppers after they’ve made a purchase.
“Later this year we will roll out an additional service feature by allowing customers to initiate a return directly from our website, making it easier and faster to return an item,” he told analysts on the call, according to a transcript from Seeking Alpha. “We’ve been focused on enhancing the post-purchase experience. Customers can now easily track their packages and receive notification of package delivery details including when the package has arrived at their doorstep.”
In its 10-Q filing with the U.S. Securities and Exchange Commission, The Finish Line reports that it is planning on investing up to $15 million this year in upgrades to its digital and mobile offerings.
For the second quarter of fiscal 2018 ended Aug. 26, The Finish Line reported:
- Net sales of $469.4 million, down 3.3% from $485.2 million during the same time last year.
- Online accounted for 16.3% of total sales during the quarter, compared with 15.6% last year.
- A year-over-year comparable store sales decline including e-commerce of 4.5%, compared with a 5.1% gain last year.
- Net income of $2.8 million, down from $22.1 million last year.
For the first six months of fiscal 2018, The Finish Line reported:
- Net sales of $899.1 million, down 1.8% from $915.2 million during the same time last year.
- Online has accounted for 16.3% of total sales so far this year, compared with 15.7% last year.
- A year-over-year comparable store sales decline including e-commerce of 2.9%, compared with a 3.4% gain last year.
- Net income of $11.0 million, down from $31.7 million during the same time last year.