The Finish Line (FINL) Reports Q2 Sales and Guides Below for Q2 Earnings
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Price: $13.51 --0%
Financial Fact:
Income tax expense: 12.81M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Income tax expense: 12.81M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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The Finish Line, Inc. (Nasdaq: FINL) reported consolidated net sales of $343.0 million for the thirteen weeks ended September 1, 2007, an increase of 1.3% versus consolidated net sales of $338.6 million for the thirteen weeks ended August 26, 2006. (Consensus is $346.08 million)
Total Company comparable store net sales for Q2 decreased 4.7%. By concept, Finish Line comparable store net sales decreased 4.8% and Man Alive comparable store sales decreased 2.4% compared to the same thirteen-week period last year.
The Company expects to report a loss per diluted share in the range of $(.04) to $(.06) for Q2 as compared to income per diluted share of $.21 reported for Q2 LY. Included in the loss for Q2 is a pre-tax charge of approximately $14 million ($.18 per diluted share) for the impairment of assets, write down of inventory and certain facility closing costs related to the recently announced closure of the 15 Paiva stores. (Q2 EPS consensus is $0.11)
Total Company comparable store net sales for Q2 decreased 4.7%. By concept, Finish Line comparable store net sales decreased 4.8% and Man Alive comparable store sales decreased 2.4% compared to the same thirteen-week period last year.
The Company expects to report a loss per diluted share in the range of $(.04) to $(.06) for Q2 as compared to income per diluted share of $.21 reported for Q2 LY. Included in the loss for Q2 is a pre-tax charge of approximately $14 million ($.18 per diluted share) for the impairment of assets, write down of inventory and certain facility closing costs related to the recently announced closure of the 15 Paiva stores. (Q2 EPS consensus is $0.11)
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