Finish Line Q2 Profit Down, Meets View, Comps Up; Backs FY17 Outlook

(RTTNews) - Finish Line, Inc. (FINL), a premium retailer of athletic shoes, apparel and accessories, reported Friday that second-quarter net income attributable to the company declined to $22.08 million from last year's $25.90 million. Earnings per share were $0.53, lower than $0.57 a year ago.

On average, 19 analysts polled by Thomson Reuters expected earnings of $0.53 per share. Analysts' estimates typically exclude special items.

Consolidated net sales were $509.40 million, an increase of 5.4% over the prior year period's $483.15 million. Analysts expected sales of $495.04 million.

Finish Line comparable store sales increased 5.1%.

The company also announced that the Board of Directors has approved an updated timetable for Glenn Lyon's transition to non-executive chairman of the Board of Directors effective today.

Looking ahead, for the fiscal year ending February 25, 2017, the company still expects Finish Line comparable store sales to increase in the 3% to 5% range and earnings per share to be between $1.50 and $1.56. Analysts expect earnings of $1.54 per share.