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Finish Line Reports Third-Quarter Loss

The Finish Line Inc. on Wednesday reported a loss of $40.4 million in its fiscal third quarter.
Finish Line store | Source: Flickr/MikeMozart
By
  • Associated Press

INDIANAPOLIS, United States — The Finish Line Inc. on Wednesday reported a loss of $40.4 million in its fiscal third quarter.

On a per-share basis, the Indianapolis-based company said it had a loss of $1. Losses, adjusted to account for discontinued operations and severance costs, were 24 cents per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The shoe store posted revenue of $371.7 million in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $412 million.

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For the current quarter ending in February, Finish Line expects its per-share earnings to range from 68 cents to 73 cents.

The company expects full-year earnings in the range of $1.24 to $1.30 per share.

Finish Line shares have risen 27 percent since the beginning of the year. The stock has climbed 37 percent in the last 12 months.

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