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Indianapolis-based athletic shoe store chain The Finish Line Inc. said Thursday it recorded a profit in its fiscal first
quarter as its revenue rose more than 10 percent.
The chain said its net income was $13.6 million, or 25 cents a share, for the quarter that ended May 29. That compares with
a loss of $608,000, or a penny a share, a year earlier.
Revenue jumped to $282.4 million from $259.1 million a year earlier.
Analysts polled by Thomson Reuters expected, on average, a profit of 16 cents a share on revenue of $284.5 million.
Sales at stores that have been open at least a year—a key indicator for retailers because it excludes results from
stores that open or close during the year—rose nearly 11 percent for the quarter. The figure fell 3.9 percent a year
earlier.
For the four-plus weeks from May 30 to June 22, the figure rose 7 percent, the company said.
CEO Glenn Lyon said customer traffic remains inconsistent, but the company continued to make progress managing expenses and
improving its inventor efficiency.
Finish Line operates 667 stores in 47 states.
Its shares were unchanged at $14.34 in aftermarket trading following the release of the company's financial results.
They fell 46 cents, or 3.1 percent, during the regular session Thursday.
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