For the first quarter, Finish Line reported sales of $288.3 million, down 0.2% from the first quarter of last year. Meanwhile, its comps fell 3.9% in the quarter, with its only bright spot being the 0.6% increase at its Man Alive locations. And, as if the retailer's recent performance hasn't been bad enough, it seems destined to continue stumbling forward.
On the same day it announced its decreased sales, Finish Line stated its first-quarter earnings expectations, which will be announced after the close on June 28. The company expects to report a loss of $0.09 to $0.11 per share for the quarter after earning $0.09 per share in the year-ago period. Analysts were anticipating that the company would post a profit of $0.06 per share but have now revised their estimates to a loss of $0.07 per share.
Finish Line's supposed turnaround certainly appears to be finished, if it ever truly began at all. At a time when a market leader like Foot Locker
To decide for yourself if Finish Line has flatlined, check out:
Fool contributor Mike Cianciolo welcomes feedback and doesn't own share of any of the companies in this article.