logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Finish Line Q1 Profits Slip on New Macy's Business Costs, Still Top Expectations

By  +Follow June 28, 2013 9:27AM
Share:
Tickers Mentioned:

The Finish Line, Inc. (FINL) reported on Friday that total and same-store sales were up in the first quarter of fiscal 2014, while expansion into Macy's (M) stores dampened net profits, but not as much as analysts had predicted.

For the quarter ended June 1, Indianapolis-based Foot Locker, a retailer of athletic shoes, apparel and accessories, recorded revenue of $351.1 million, up 10 percent from $319.1 million in the year prior quarter. GAAP-based profits were $5.1 million, or 10 cents per share, down from $12.3 million, or 24 cents per share. Adjusted net income, which excludes start-up expenses related to the launch of Macy's business, was $9.93 million, or 20 cents per share, versus $12.3 million, or 24 cents per share, in Q1 fiscal 2013.

Wall Street was expecting adjusted earnings of 16 cents per share on revenue of $343.0 million.

Same-store sales, sales at stores open more than one year, increased 2.4 percent year-over-year.

The Finish Line has 652 stores in malls across the U.S. and manages the athletic footwear inventory at 660 Macy's stores. During the quarter, 41 new branded shops were opened with Macy's locations, bringing the total store-in-store locations to 44. Last September, Macy's and The Finish Line stuck a deal to open Finish Line-branded shops in more than 450 Macy's locations as well as online.

Cost of sales, not counting occupancy expenses, were higher by $29.7 million compared to the year earlier, at $244.1 million. Selling, general and administrative costs increased from $84.9 million last year to $99.4 million this year.

"We have clear vision and sound strategies in place to transform our Company into a premier, multi-divisional, omni-channel retailer and drive increased value for our shareholders," said Glenn Lyon, chairman and chief executive at Finish Line.

The company said that they were pleased with improving trends in their running business – which has long been the company's main focus – as well as strength in their basketball business, a line that Finish Line has been focusing on more heavily over that past few quarters to meet demand.

During the latest quarter, the company bought back 366,000 shares for an aggregate amount of $6.8 million. The current repurchase plan still has 4.6 million shares authorized.

Looking forward, Finish Line sees fiscal 2014 comparable store sales to improve "slightly" and for GAAP profits to rise a mid-single digit percent compared to fiscal year 2013. Adjusted earnings per share are guided at $1.47.

Analysts were targeting fiscal 2014 adjusted earnings at $1.56 per share.

The better-than-expected first quarter is overshadowing the soft outlook in pre-market trading, with shares of FINL ahead about one-half percent on low volume. Shares closed Thursday at $21.20 and are up about 12 percent so far in 2013.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for finl
Equities.com
18 Sep 14 03:14:15
Finish Line Inc. (FINL) Hits New 52-week High During September 17 Session $finl http://t.co/CrDZQDfTAa
BlackCabbieTrader
17 Sep 14 16:40:03
18/9/14 Watch List Part 1 $ABBV $AIG $AKAM $CNI $CSX $DFS $DPS $EEP $ENPH $ETP $FINL $GBX $KSS $LOW $LRCX $LUV $MAR $MAS $MDVN $MNK $MO $MS
chartguy89
17 Sep 14 15:40:10
FINL 31.52 Stock Charts $FINL Finish Line Inc. Cl A (NASDAQ) Last Updated: 09/17/2014 17:40:16 FINL Stock Char http://t.co/0DQLTV7CKc
InterCooler
17 Sep 14 08:20:04
Finish Line Research Coverage Started at Piper Jaffray $FINL http://t.co/xAPOIVN6YT
MarketScreener
17 Sep 14 06:56:31
Finish Line Inc: The stock is testing its highs. $FINL http://t.co/4MKBDXKdLq http://t.co/JquMzpNSJc
Analyst Ratings
17 Sep 14 06:06:00
Finish Line initiated by Piper Jaffray at neutral. http://t.co/SUAgdaI4nM $FINL #FINL
US Consumer News
17 Sep 14 06:04:28
Finish Line initiated by Piper Jaffray at neutral. http://t.co/YBlWoqVinE $FINL #FINL
US Banking News
17 Sep 14 05:57:07
Finish Line Coverage Initiated at Piper Jaffray $FINL http://t.co/V5CcIktozJ
Sleek Money
17 Sep 14 05:54:38
Finish Line Receives New Coverage from Analysts at Piper Jaffray $FINL http://t.co/yHjXWrwbaA
chartguy89
17 Sep 14 01:22:24
FINL 31.51 Stock Charts $FINL Finish Line Inc. Cl A (NASDAQ) Last Updated: 09/17/2014 03:22:29 FINL Stock Char http://t.co/kOepFfR1s3
Stock Signaling
16 Sep 14 21:31:11
Yesterday's All-Time Highs: $RY $MJN $LMT $CSX $TAP $GLNG $MTB $ABBV $FINL $LVNTA $WB $AAVL $TWC $Q $ZLTQ http://t.co/Vtx6dLy0Nw #watchlist
BlackCabbieTrader
16 Sep 14 16:26:55
17/9/14 Watch List $ADM $CAH $CSX $CTLT $CVS $DPS $ERJ $FINL $FL $KSS $LB $LRCX $LUV $MAS $MCO $PRU $PRXL $TUES $VFC $WOOF $X
The Fly
16 Sep 14 15:32:23
$FINL Finish Line assumed with a Neutral at Piper Jaffray: Full Story http://t.co/TP6GUpAOEs
Stock Signaling
16 Sep 14 12:01:10
All-Time Highs: $LMT $CSX $TAP $GLNG $MTB $ABBV $FINL $LVNTA $WB $AAVL $TWC $Q $ZLTQ $WMS $NEO http://t.co/Vtx6dLy0Nw #mkt #trader #nasdaq
12Stocks.com
16 Sep 14 08:53:39
SmallCap #Stocks Trend $BIOL $ENTR $TCS $HALL $EPM $TBBK $MANH $CALM $PPC $FINL $ALNY $CBRL $SUSQ $NP more@ http://t.co/Giravo3fg9
MarketScreener
16 Sep 14 07:05:49
Finish Line Inc: The stock is testing its highs. $FINL http://t.co/4MKBDXKdLq http://t.co/n5Z1fksmg4
Market Int Center
16 Sep 14 06:16:00
Potential Finish Line $FINL Trade Has 7.17% Downside Protection ( http://t.co/dYVzzrMZMS )
Sleek Money
16 Sep 14 05:54:25
Susquehanna Raises Finish Line Price Target to $35.00 $FINL http://t.co/g1LCkoMjZt
Cornholio
15 Sep 14 19:21:23
@KymLang even $FINL which you mocked
4-traders.com
15 Sep 14 17:20:02
Finish Line : Gift From the Rudds Will Launch Fundraising Campaign to Support Finish Line Program http://t.co/7FTBf4Xjor $FINL
WKRB News
15 Sep 14 08:53:48
Finish Line Price Target Raised to $35.00 at Susquehanna $FINL http://t.co/V37w3UlidG
Market Int Center
15 Sep 14 07:12:22
Potential Finish Line $FINL Trade Has 7.32% Downside Protection ( http://t.co/9Drji8OI6B )
Ben Silverberg
14 Sep 14 08:55:57
$FINL confirmed B/O Ascending Continuation Triangle into Blue Skies, S 30.47, Stop 30.13, PT 34.30-35.20 http://t.co/3wzE27kLof
Investor Wand
14 Sep 14 04:16:28
Is $FINL a BUY? Susquehanna Financial Group thinks so:http://t.co/ErOvl6wNcG
theSPYsurfer
13 Sep 14 15:42:31
Sep 15 Trades: Exit $ITUB $LCUT $JNS $XME $GDX $DTX.TO $TIC.V $FCR.TO Enter $RE.TO $OILT $HA $NSEC $WCP.TO $FINL $ZUB.TO $KBWB
theSPYsurfer
13 Sep 14 15:42:11
Sep 15 Trades: Exit $ITUB $LCUT $JNS $XME $GDX $DTX.TO $TIC.V $FCR.TO Enter $RE.TO $OILT $HA $NSEC $WCP.TO $FINL… http://t.co/mHbPoL90cr
Stock Signaling
13 Sep 14 12:01:12
All-Time Highs: $GLNG $MTB $ABBV $FINL $LVNTA $WB $AAVL $TWC $Q $ZLTQ $WMS $NEO $TSQ $RCPT $LE http://t.co/Vtx6dLy0Nw #mkt #trading #trader
Dave Mecklenburg
12 Sep 14 17:01:50
Momentum stock watch for MON $A $CME $FINL $IPI $PRU $STT $VFC $CCI $CLI $DTE $EXR $GGP $HCP $HIW $K $MAA $NNN $O $OHI $PAA $RYN $SNH $TXT
US Banking News
12 Sep 14 10:43:31
Finish Line Sets New 1-Year High Following Analyst Upgrade $FINL http://t.co/mVelK5IuEE
MarketScreener
12 Sep 14 10:36:14
Finish Line Inc: The stock is testing its highs. $FINL http://t.co/4MKBDXKdLq http://t.co/5kE01dyEPe
Market Int Center
12 Sep 14 09:23:42
Finish Line $FINL Showing Resistance Near $31.37 ( http://t.co/40Z7mqIsiw )
US Banking News
12 Sep 14 06:41:03
Susquehanna Increases Finish Line Price Target to $35.00 $FINL http://t.co/6LGzVNVwOS
InterCooler
12 Sep 14 05:36:23
Finish Line Given New $35.00 Price Target at Susquehanna $FINL http://t.co/mLbBukoBVb
US Consumer News
12 Sep 14 04:48:41
Finish Line's PT raised by Susquehanna to $35.00. http://t.co/cSgXc2NaCp $FINL #FINL
Analyst Ratings
12 Sep 14 04:48:39
Finish Line's PT raised by Susquehanna to $35.00. http://t.co/wOCoRfeIdG $FINL #FINL
FonsieTrader
12 Sep 14 04:23:37
$FINL Is breaking out here! Worth watching for continuation http://t.co/wJZ5ktlKUe
Stock Signaling
12 Sep 14 02:31:08
Services Sector: Upgrades: $BKS $VSI $SEAS $WTSL $WCC $AAWW $ARC $HA $URBN $TIF $TMH $NDLS $SGMS $LB $FINL http://t.co/Vtx6dLy0Nw #analyst
4-traders.com
11 Sep 14 13:35:03
Finish Line : Second Quarter Fiscal Year 2015 Earnings Release Notification http://t.co/acDchO28Eb $FINL
4-traders.com
11 Sep 14 13:05:04
Finish Line : Second Quarter Fiscal Year 2015 Webcast September 26, 2014 at 8:30 a.m. Eastern (Webcast Alert) http://t.co/AZAr6kJrx0 $FINL
BV Services
11 Sep 14 13:00:50
$FINL Webcast Alert: Finish Line Second Quarter Fiscal Year 2015 Webcast September 26, 2014 at 8:30 a... http://t.co/O2JDtCbus6
FlashRatingsHOT
11 Sep 14 10:46:12
$FINL has 2 analyst ratings in the last 7 days and 100% are positive. Median target: $35 (14% upside). View here: https://t.co/ImFCzKNRd5
Ticker Report
11 Sep 14 07:02:40
Finish Line Upgraded at Deutsche Bank $FINL http://t.co/XEcnGJN2sf
MoneyShow
11 Sep 14 05:46:43
$QQQ $XOP $PSX $FINL $SAH Check Your Portfolio for Profit Leaks http://t.co/Bl4CiNGl6V
Traders Expo
11 Sep 14 05:46:27
$QQQ $XOP $PSX $FINL $SAH Check Your Portfolio for Profit Leaks http://t.co/j3pgG02zIc
TomAspray
11 Sep 14 05:46:02
$QQQ $XOP $PSX $FINL $SAH Check Your Portfolio for Profit Leaks http://t.co/iD8tYDPOmC
MoneyShow Trading
11 Sep 14 05:45:21
$QQQ $XOP $PSX $FINL $SAH Check Your Portfolio for Profit Leaks http://t.co/EVpbWi9DxJ
Stock Signaling
10 Sep 14 17:31:30
Movers and Shakers: Recently Upgraded: $WFC $AMTD $HIG $CPE $HUN $COH $AU $TWTR $CVX $GCA $AVP $PF $INFA $FINL $PHM http://t.co/Vtx6dLy0Nw
InterCooler
10 Sep 14 10:36:58
Finish Line Upgraded to “Buy” at Deutsche Bank $FINL http://t.co/yvUqOTDef4
BV Services
10 Sep 14 10:06:06
$FINL Finish Line Youth Foundation Raised More Than $1.2M with Annual Golf Outing, #GetKidsActive Camp.. http://t.co/vmZqFJhkMC
				
				
By  +Follow June 28, 2013 9:27AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.