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.

Results for finl
Byrne Bray
21 Apr 14 17:51:05
$FINL World Record-Breaking Electric Vehicle Journey Crosses Finish Line http://t.co/RkyoL2j9Ue
Market Int Center
21 Apr 14 09:48:58
Finish Line $FINL Trading Near $25.81 Support Level ( http://t.co/cbAaR0huYS )
4-traders.com
21 Apr 14 08:40:02
Finish Line : Charity boss sees work on high streets http://t.co/NV4CwF1AA5 $FINL
4-traders.com
20 Apr 14 22:15:16
Finish Line : Posts Quarterly Cash Dividend http://t.co/UO1F2DeGtJ $FINL
4-traders.com
20 Apr 14 22:10:57
Finish Line : Reports Quarterly Cash Dividend http://t.co/wdHMl8piuu $FINL
Byrne Bray
19 Apr 14 22:12:04
$FINL Boston blasts changed marathons forever http://t.co/J6WO8muUku
Byrne Bray
19 Apr 14 17:40:03
$FINL Dynamic Impact wins Illinois Derby http://t.co/vgUSagDcZF
Byrne Bray
19 Apr 14 16:17:03
$FINL Area runners excited about participating in the Boston Marathon http://t.co/RFVXPRxmhi
Byrne Bray
19 Apr 14 12:26:34
$FINL Governor: Boston lockdown amid search a tough call http://t.co/OLnzElPZHW
Byrne Bray
19 Apr 14 02:53:03
$FINL Easter Blessings in and around town http://t.co/qq1qxeoqDe
Byrne Bray
19 Apr 14 02:47:34
$FINL Steel Carriage House Doors With Oak Finish Installed http://t.co/JRAnhYi6v4
chartguy89
19 Apr 14 00:58:10
FINL 26.17 Stock Charts $FINL Finish Line Inc. Cl A (NASDAQ) FINL Stock Chart - 1 Month http://bigcharts.marke http://t.co/NMDA9uevZT
Byrne Bray
19 Apr 14 00:24:04
$FINL 5 things to know for your Saturday in Indiana http://t.co/OMuN7DXpUS
Byrne Bray
18 Apr 14 21:43:04
$FINL PREP TRACK & FIELD: Carrier, Swiney place second http://t.co/TL9qFQYu8t
Byrne Bray
18 Apr 14 20:54:04
$FINL Rivershore hosts inaugural 5K May 3 in Lewiston http://t.co/AKRIZJu0dR
Byrne Bray
18 Apr 14 19:11:05
$FINL Outdoor living: What's new in patio furnishings? http://t.co/e9bk9A17l3
Byrne Bray
18 Apr 14 14:57:35
$FINL Why the Boston Marathon Continues to Inspire by Cambridge Symphony Orchestra http://t.co/VTDJhpwGSf
Byrne Bray
18 Apr 14 14:36:06
$FINL Like Israelis, Bostonians show resilence amid pain http://t.co/qXJG0CCj0x
Byrne Bray
18 Apr 14 02:08:06
$FINL Stastny leads Avs to 5-4 OT win over Wild http://t.co/bempn6rEqE
GavinGreenberg
17 Apr 14 15:07:38
$FINL: Running Shoe Sales Pace Pickup Lifts Nike http://t.co/YTHdBoa1BF
LoveStockNews
17 Apr 14 14:57:27
$FINL - Running Shoe Sales Pace Pickup Lifts Nike -> http://t.co/XlyQ9VyVWR #stock #stocks #stockaction
Byrne Bray
17 Apr 14 11:45:10
$FINL Rivet Software Signs Preferred Printer Partnership with Vintage Filings http://t.co/w6MIVW6wZj
Market Int Center
17 Apr 14 10:25:59
Finish Line $FINL Trading Near $26.56 Resistance Level ( http://t.co/ulbIQQkd6g )
Ticker Report
17 Apr 14 05:28:06
Finish Line Inc Announces Quarterly Dividend of $0.08 $FINL http://t.co/FGaJwYQyeW
Byrne Bray
17 Apr 14 03:04:07
$FINL Little government response to bombing a year later http://t.co/EdXDuDAYLJ
Byrne Bray
17 Apr 14 01:48:34
$FINL For a Good Cause http://t.co/nl0bTPeqAm
4-traders.com
17 Apr 14 00:00:07
Graham : Announcing the 2013 Sigma Delta Chi Award Winners http://t.co/dpxbEQhuVq $WPO $FINL
Byrne Bray
16 Apr 14 23:55:07
$FINL Bakersfield Blaze Game Recap: Late Surge and Ben Lively a Lethal Combo ... http://t.co/gwd99SSy8C
Byrne Bray
16 Apr 14 23:32:08
$FINL Boston Attacks Mark Major Shift in Who's Buying Terror Insurance http://t.co/FR5F1TiAs2
Marshall Levell
16 Apr 14 14:04:04
$FINL FINISH LINE INC /IN/ Files SEC form 8-K, Other Events http://t.co/UaUOUQPT9K
Mattias Hertz
16 Apr 14 13:40:34
$FINL: FINISH LINE INC /IN/ Files SEC form 8-K, Other Events http://t.co/l5S2rXcrm1
Informer
16 Apr 14 13:23:07
$FINL: FINISH LINE INC /IN/ Files SEC form 8-K, Other Events http://t.co/MCPL27Cu13
Marshall Levell
16 Apr 14 13:22:36
$FINL Finish Line declares quarterly cash dividend http://t.co/9FGKC6ZWYP
Stock News 24
16 Apr 14 13:19:24
$FINL - FINISH LINE INC /IN/ Files SEC form 8-K, Other Events -> http://t.co/N2yDfYuGgY #stock #stocks #stockaction
BV Services
16 Apr 14 13:05:25
$FINL Finish Line Inc /in/ files Form 8-K (Events or Changes Between Quarterly Rep.. http://t.co/MIIUvQ64UP
GavinGreenberg
16 Apr 14 12:01:36
$FINL: Finish Line Declares Quarterly Cash Dividend http://t.co/wquMBVM5xZ
Andie Andrewson
16 Apr 14 11:55:33
$FINL: Finish Line Declares Quarterly Cash Dividend http://t.co/hRLsCeUTei
Stock Herald
16 Apr 14 11:51:36
$FINL: Finish Line Declares Quarterly Cash Dividend http://t.co/G4Hgz6BW2x
Andie Andrewson
16 Apr 14 11:49:35
$FINL: Finish Line Declares Quarterly Cash Dividend http://t.co/C42ubgsd86
Marshall Levell
16 Apr 14 11:44:05
$FINL Weight Watchers International - Is The Fat Lady Singing? http://t.co/niFeDEyXIj
Marshall Levell
16 Apr 14 11:33:06
$FINL Finish Line Declares Quarterly Cash Dividend http://t.co/4DVGmzI8fB
US Banking News
16 Apr 14 11:27:49
Finish Line announces quarterly dividend of $0.08. Payable on 1/1/2100. 1.24% Yield. http://t.co/W187mtaRrW $FINL #FINL
MarketCurrents
16 Apr 14 11:20:53
Finish Line Inc declares $0.08 dividend http://t.co/fwP2bBUJdi $FINL
Marshall Levell
16 Apr 14 01:17:06
$FINL Marathon suspect seeks dismissal of some charges http://t.co/fiOMCG7uXh
Marshall Levell
16 Apr 14 00:30:09
$FINL 10 Things to Know for Wednesday http://t.co/JW4YsLovS4
Marshall Levell
15 Apr 14 17:43:35
$FINL More than 10K crossed Rock 'n' Roll finish line, event organizer says http://t.co/vxQCafp49y
Marshall Levell
15 Apr 14 17:33:06
$FINL Police investigate unattended bags near Boston Marathon finsh line http://t.co/SpBgU5OprE
MetaTrader
15 Apr 14 15:32:43
RT @StockSignaling: Upgraded Stocks Active After Hours: $YHOO $MDR $MA $STX $EW $IMPV $F $BOFI $RT $FB $CTCT $SFUN $HAR $FINL $C http://t.c…
Stock Signaling
15 Apr 14 15:31:12
Upgraded Stocks Active After Hours: $YHOO $MDR $MA $STX $EW $IMPV $F $BOFI $RT $FB $CTCT $SFUN $HAR $FINL $C http://t.co/3gvJLENZtD #stock
Media Sentiment
15 Apr 14 10:15:04
$FINL received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 305
				
				
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.