The Finish Line Inc reported consolidated net sales of $288.3 million for the thirteen weeks ended June 2, 2007 (1st quarter or Q1), a decrease of 0.2% versus consolidated net sales of $289.0 million for the thirteen weeks ended May 27, 2006 (Q1 LY).
Total Company comparable store net sales for Q1 decreased 3.9%. By concept, Finish Line comparable store net sales decreased 4.1% and Man Alive comparable store sales increased 0.6% compared to the same thirteen-week period last year.
The Company expects to report a net loss per diluted share in the range of $(.09) to $(.11) for Q1 as compared to net income per diluted share of $.09 reported for Q1 LY.
The Company did not repurchase any shares of Class A Common Stock during Q1 under the current stock repurchase authorization, which expires December 31, 2007.
As of June 2, 2007, the Company has repurchased 2,584,617 shares (at a total cost of $35.5 million) of the five million shares authorized.
The Company expects to report earnings for Q1 on Thursday, June 28th, after the market closes followed by a live conference call on Friday morning, June 29th at 8:30 am ET.
The Company has experienced, and expects to continue to experience, significant variability in net sales and comparable store net sales from quarter to quarter.
Therefore, the results of the periods presented herein are not necessarily indicative of the results to be expected for any other future period or year.
marketing@alchempro.com
