Finish Line takes charge for underperforming stores

March 8, 2007

Indianapolis shoe and clothing retailer Finish Line Inc. reported today that it took a charge of $6.7 million to $7.8 million in its fourth quarter ended March 3 for impairments to assets on 17 to 19 underperforming stores.

The company also said overall sales rose 7.5 percent, to $429 million, partly due to strength from its Man Alive stores. However, same-store sales across the Indianapolis company fell 5.4 percent from the same period a year earlier.

The shoe and clothing retailer reports profits March 29.

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