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Finish Line suffers surprising quarterly loss

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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.
 

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  1. Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.

  2. Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.

  3. I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.

  4. The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.

  5. I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!

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