FINISH LINE STOCK SOARS AFTER NEW CEO ENCOURAGES INVESTORS

Indianapolis-based sportswear retailer Finish Line Inc. saw its stock gain over 13 percent by 2pm on Monday after investors were encouraged by news from new CEO Sam Sato in a conference call.

Last Thursday, Finish Line reported a fourth-quarter profit of $4 million, or 9 cents per share, beating analysts’ expectations.

In addition, the retailer has followed through on its commitment to close 150 low-performing stores, and has already shuttered over 50 doors; will spend $40 million to remodel its better-performing stores; will invest up to $15 million in new technology and digital efforts; and is working to repair flaws in its newly-implemented supply-chain system.