Finish Line (FINL) Misses Q2 EPS by 6c, Reaffirms Guidance

Finish Line (NASDAQ: FINL) reported Q2 EPS of $0.54, $0.06 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $466.9 million versus the consensus estimate of $477.61 million. Comps increased 1.5%.

“Our second quarter results fell short of our expectations due to softness within elements of our basketball offering while our running business was up mid single digits driven by casual and performance styles,” said Glenn Lyon, Chairman and Chief Executive Officer. “We are confident that we can reaccelerate sales trends in basketball by working closely with our brand partners to improve our assortments. In combination with our market leadership position in running, advanced omnichannel capabilities and growing business relationship with Macy’s, this will fuel sustainable sales and earnings growth over the long-term.”

Outlook

For the fiscal year ending February 28, 2015, the company still expects Finish Line comparable store sales to be up mid single digits and earnings per share to increase in the high single to low double digit range over fiscal year 2014 non-GAAP diluted earnings per share of $1.66.

*** Consensus estimates call for FY15 EPS of $1.87.

For earnings history and earnings-related data on Finish Line (FINL) click here.

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