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Finish Line clocks steady performance in second quarter

September 25, 2015

Financial results for athletic apparel retailer The Finish Line Inc. loped along in its latest quarter at about the same pace as last year, the company announced Friday morning.

For the quarter ended Aug. 29, the Indianapolis-based retailer of athletic apparel reported profit of $25.9 million, or 57 cents per share--a slight drop from $26.2 million, or 54 cents per share, in the year-ago period. The earnings met analyst expectations.

Revenue rose 3.5 percent, to $483.2 million, which fell short of analyst forecasts of $490.8 million.

"We are pleased with the bottom-line performance we achieved on modest sales growth," CEO Glenn Lyons said in a prepared release.

Same-store sales, a key figure for retailers that considers stores open at least a year, increased 3.5 percent.

Finish Line operates 1,020 stores in malls and Macy’s department stores and 76 Running Specialty shops.

Company shares slipped 1.9 percent, to $24.77 each, in pre-market trading on Friday morning.

For the fiscal year ending Feb. 27, Finish Line still expects earnings per share of $1.67, below analyst expectations of $1.80.
 

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