Dive Summary:

• After 24 years with the retail store chain, current president and COO of The Finish Line Steve Schneider has announced his intentions to retire from the company.
• The announcement of the resignation comes as net income for the company dropped 59% due to costs related to opening its new branded in-store shops in cooperation with Macy’s department stores.
•  “Steve’s incredible business acumen, his strong operational analysis and his keen vision for planning will be key to implementing Finish Line’s long-term strategic growth plan,” says Chairman and CEO Glenn Lyon.

From the article:

“We are pleased with the start to fiscal 2014 as improving trends in our Finish Line running business combined with continued strength in basketball and disciplined expense management drove our results,” added Lyon. “Strategically, the quarter was marked by significant progress on our key growth initiatives, including the well-received launch of our Macy’s business in stores and online and the expansion of the Running Specialty Group footprint with the acquisition of some very productive doors.”