Finish Line suffers surprising quarterly loss

Back to TopCommentsE-mailPrintBookmark and Share

The Finish Line Inc. said Friday that it lost money in its latest quarter, the first unprofitable quarter for the Indianapolis-based retailer since the second period of 2009.

The company said it lost $107,000, less than a penny a share, in the fiscal third quarter ended Dec. 1. A year earlier, the company reported profit of $5.5 million, or 11 cents per share. Revenue rose 5.2 percent, to $296.6 million, over the year-ago period.

The earnings fell short of predictions by analysts polled by Thomson Reuters, which recently forecast per-share earnings of 10 cents on revenue of $296 million.

Finish Line stock fell 6 percent in by midday Friday, to $17.85 per share.

CEO Glenn Lyon blamed the weak quarter on the public’s poor response to a new online store the company launched in mid-November prior to Black Friday. It reverted to its old e-commerce site in early December after experiencing too many problems with the new site.

Lyons also said the company misjudged footwear trends and would increase its selection of basketball products.  

Same-store sales, which exclude sales at stores open less than a year, were up 3.6 percent in the quarter.

Finish Line hadn’t suffered a quarterly loss since the second fiscal quarter of 2009, when an $18.4 charge for selling off its Man Alive stores hurt an otherwise profitable quarter.

The company lowered its full-year earnings estimate to $1.47 to $1.51 a share from its September forecast of roughly $1.62 to $1.67 a share.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.