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Finish Line Posts Quarterly Loss, Cuts Guidance

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Finish Line (NASDAQ: FINL  ) has released its fiscal 3Q 2013 results, and they show a surprise loss. The athletic apparel maker's net sales came in at $297 million, while net loss amounted to $107,000. By contrast, those figures in 3Q 2012 were $282 million, and a profit of $5.5 million ($0.11 per share).

Analysts, on average, had been expecting EPS of around $0.10 for the quarter.

Quoting CEO Glenn Lyon, the company attributed the shortfall to "a shift within athletic footwear trends and a less than favorable consumer response to the new e-commerce site we launched in mid November."

Additionally, Finish Line trimmed its expectations for full-year fiscal 2013. The company now expects EPS of $1.47-$1.51. Previously, it had forecast a 6%-9% increase over the $1.53 of fiscal 2012.

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Related Tickers

9/28/2016 4:00 PM
FINL $23.28 Up +0.53 +2.33%
The Finish Line CAPS Rating: **