Sporting goods retailer The Finish Line Inc. said on Thursday that it lost $874,000 in the second quarter, mostly because
of a loss it took by unloading its unsuccessful Man Alive stores in July.
Indianapolis-based Finish Line said its loss worked out to 2 cents a share for the quarter that ended Aug. 29, compared with a profit of $13.1 million, or 24 cents per share, a year earlier. The company said it made an operating profit of 21 cents per share but lost 23 cents per share on the discontinued Man Alive business.
Revenue fell 11.4 percent, to $298.7 million, from $337 million a year ago.
The operating results matched the expectation of analysts surveyed by Thomson Reuters, although revenue fell short of the $305.6 million they were expecting.
The Finish Line said sales at stores open at least a year — a key retail measure — fell 9.9 percent.