The growing buzz surrounding adidas' sneakers isn't only benefiting the sportswear brand, but its retail partners as well.
According to reports, Finish Line Inc. surged the most it has in the past seven years, after surpassing first-quarter expectations in what's being called a challenging customer environment. On a conference call to discuss the retailer's quarter, CEO Sam Sato pointed out adidas as one of the primary reasons Finish Line is seeing improved business.
“We continue to experience explosive growth in our Adidas business,” said Sato said. “The Adi brand itself has a ton of momentum. The excitement around that brand globally is very high, and it’s no different in the States.”
Sato specifically credited sales from shoes like the Ultra Boost, NMD, Superstar and Stan Smith for increasing the retailer's top line.
According to Bloomberg, Finish Line defied a global stock market rout this week, surging as much as 21% in wake of the U.K.'s Brexit. It marked their largest intraday gain since December 2008.
This is all encouraging news, after Finish Line made the decision to close 150 stores earlier this year following disastrous results in previous quarter reports. Perhaps like adidas, a comeback is in the works.
