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Athletic shoe and clothing retailer Finish Line Inc. said Thursday that its fiscal first-quarter earnings and revenue rose, but revenue fell just short of Wall Street's expectations and the company's shares took a hit in after-hours training.
For the three months that ended May 28, the company earned $16.4 million, or 30 cents per share, up 20 percent from $13.6 million, or 25 cents per share, in the same period a year earlier.
Revenue rose 6 percent, to $299 million from $282 million.
Analysts, on average, were expecting earnings of 30 cents per share on revenue of $301.4 million, according to a poll by FactSet.
Revenue at stores open at least a year — a key indicator for retailers because it excludes new stores and those that recently closed — rose 6.1 percent for the quarter. For the three weeks that ended June 19, the figure was up 14.5 percent.
Analysts had expected Finish Line to report a strong quarter following solid results from Foot Locker and Hibbett Sports. Earlier this week Sterne Agee analyst Sam Poser said Finish Line's specialty — running shoes, especially high-end ones — are selling well.
The company's shares fell 92 cents, or 4 percent, to $22.25 each after hours after it announced its results. The stock had closed up 88 cents, or 4 percent, at $23.17.
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