UPDATE 2-Finish Line bets on digital sales to drive growth
* Q1 EPS $0.24 vs est $0.23
* Q1 rev $319 mln vs est $320.7 million
* Sees FY13 profit growing 6-7 pct
* Shares rise 11 pct
June 29 (Reuters) - Athletic footwear retailer Finish Line Inc's first-quarter earnings narrowly beat analysts' estimates and it raised its full-year profit forecast, encouraged by higher digital sales and continued demand for running shoes.
Shares of the company, which sells brands from Nike Inc , Puma and Adidas AG, rose 11 percent to a nearly one-month high of $20.70 in morning trading on the Nasdaq.
Finish Line has been spending more on revamping its website and buying in-store devices such as tablets and handheld electronic gadgets that list its products to attract customers and make shopping easier.
"Digital is now up to 12 percent of our sales ... so all of the investments that we have made in the site and in our ability to get customers into the site and process it have been paying off," Chief Executive Glenn Lyon said on a conference call with analysts.
Sales in the segment, which comprises e-commerce and mobile commerce, jumped 28 percent in the first quarter.
Sales trends for running shoes, which have spurred demand for the past several quarters, continue to remain strong, the company said.
The retailer now expects full-year earnings per share to grow 6 percent to 7 percent. The company earlier forecast mid-single digit growth over the $1.53 per share it earned in fiscal 2012.
Net income attributable to Finish Line was 24 cents per share in the quarter ended June 2, above expectations of 23 cents per share, according to Thomson Reuters I/B/E/S.
Net sales increased about 7 percent to $319 million, while same-store sales rose 8 percent.
Finish Line's largest supplier, Nike, missed quarterly profit estimates for the first time in two years as higher spending and increased costs of materials used in its shoes and T-shirts hurt margins, while demand eased in international markets.
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