Macy’s (M), Finish Line (FINL) Enter In-Store Athletic Shoe Shop Agreement
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Macy’s, Inc. (NYSE: M) and The Finish Line, Inc. (Nasdaq: FINL) announced that Finish Line-branded athletic footwear shops will be opened in more than 450 Macy’s department stores in the U.S. and online at macys.com.
The rollout process for the 450+ locations, which will be operated by Finish Line as leased departments, will start in Spring 2013 with completion expected by Fall 2014. For the remaining approximately 225 Macy’s stores that carry footwear, Finish Line will manage the athletic footwear assortment and inventory beginning in Spring 2013, without the staffing or branding provided in the leased departments. Athletic shoe assortments selected by Finish Line also will be available on macys.com, beginning in Spring 2013, subject to the signing of a final online agreement.
Finish Line will be Macy’s exclusive partner for men’s, women’s and kids athletic footwear and Macy’s will be the exclusive host for Finish Line-branded in-store shops.
Finish Line will recognize sales and corresponding profits, less the licensing fee paid to Macy’s. Longer term, this agreement is expected to result in additional sales to Finish Line of $250 million to $350 million annually.
The rollout process for the 450+ locations, which will be operated by Finish Line as leased departments, will start in Spring 2013 with completion expected by Fall 2014. For the remaining approximately 225 Macy’s stores that carry footwear, Finish Line will manage the athletic footwear assortment and inventory beginning in Spring 2013, without the staffing or branding provided in the leased departments. Athletic shoe assortments selected by Finish Line also will be available on macys.com, beginning in Spring 2013, subject to the signing of a final online agreement.
Finish Line will be Macy’s exclusive partner for men’s, women’s and kids athletic footwear and Macy’s will be the exclusive host for Finish Line-branded in-store shops.
Finish Line will recognize sales and corresponding profits, less the licensing fee paid to Macy’s. Longer term, this agreement is expected to result in additional sales to Finish Line of $250 million to $350 million annually.
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