INDIANAPOLIS -- Finish Line announced Thursday that it will be closing 150 stores.
The news came as the Indianapolis-based athletic store chain reported that third quarternet sales were down 3.5 percent over the previous year.
Company officials attribute much of the loss to a new warehouse and order management system which caused problems getting new inventory into stores as well as fulfilling online orders.
They say they plan to improve profitability by closing up to 150 stores - 25 percent of the company's store base - over the next four years.
Finish Line hopes to recoup a portion of $1 million in sales from those stores at nearby locations and through digital sales.
There has been no indication yet the locations of the stores that will be closed.
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