The Finish Line Inc reported consolidated net sales of $281.5 million for the thirteen weeks ended November 25, 2006 ("3rd quarter" or "Q3"), an increase of 2.7% over consolidated net sales of $274.0 million for Q3 last year ("Q3 LY"). Total Company comparable store net sales for Q3 declined 3.3%.
By concept, Finish Line comparable store net sales declined 3.5% and Man Alive comparable store sales increased 3.1% compared to Q3 LY. The Company expects to report a loss per diluted share in the range of -$.06 to -$.08 for Q3 as compared to income per diluted share of $.02 reported for Q3 LY.
For the thirty-nine weeks ended November 25, 2006, consolidated net sales were $909.2 million, an increase of 0.3% compared to consolidated net sales of $906.8 million reported for the thirty-nine weeks ended November 26, 2005. Year-to-date, comparable store net sales decreased 5.8% as compared to an increase of 0.9% reported for the comparable thirty-nine week period last year.
By concept, Finish Line comparable store net sales declined 5.9% and Man Alive comparable store sales decreased 0.2% compared to the same thirty-nine week period last year.
The Company expects to report earnings for Q3 on Wednesday, December 20th, after the market closes followed by a live conference call Thursday morning, December 21st at 8:30 am ET.
The Company did not repurchase any shares of Class A Common Stock during Q3 under the current stock repurchase authorization, which expires December 31, 2007. As of November 25, 2006, the Company has repurchased 2,584,617 shares (at a total cost of $35.5 million) of the five million shares authorized.
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