Nation's leading athletic specialty retailers Finish Line Inc reported consolidated net sales of $399.0 million for the 13- week period ended February 25, 2006 ("4th quarter" or "Q4"), an increase of 10 percent (ten percent) over consolidated net sales of $361.4 million for Q4 last year ("Q4 LY").
Comparable store net sales for Q4 were flat (zero percent) versus the 8 percent (eight percent) increase reported for the comparable 13-week period last year.
For the 52-week year ended February 25, 2006, consolidated net sales were $1.306 billion, an increase of 12 percent (twelve percent) over consolidated net sales of $1.167 billion reported for the 52-week period last year ended February 26, 2005.
Full year comparable store net sales increased 1 percent (one percent) on top of a 9 percent (nine percent) increase reported for the comparable 52-weeks last year.
Alan H Cohen (Chairman and Chief Executive Officer) stated: "The positive comparable sales gains of December (two percent) and January (eight percent) were offset by weak February sales (negative six percent).
February was primarily affected by a shift in the timing of new product releases versus last year.
This shift translated into strong January sales, but resulted in less excitement and traffic in their stores during February.
For the quarter, sales were less than plan but product margins improved and they expect to achieve the most recent earnings guidance for Q4 of $.58 - $.60."
marketing@alchempro.com
