Athletic footwear and clothing retailer The Finish Line Inc has reported consolidated net sales of $289,046,000 for the thirteen weeks ended May 27th 2006 ('1st quarter' or 'Q1'), a decrease of 0.8 percent versus consolidated net sales of $291,267,000 for the thirteen weeks ended May 28th 2005.
Total company comparable store net sales for Q1 decreased 7.2 percent. By concept, Finish Line comparable store net sales decreased 7.3 percent and Man Alive comparable store sales increased 0.6 percent compared to the same thirteen-week period last year.
During Q1 the company repurchased 113,100 Class 'A' Common Shares under the current share repurchase program, which expires December 31st 2007. To date the company has repurchased 1,437,700 shares (at a total cost of $21,285,000) of the five million shares authorized.
The company expects to report earnings for Q1 on Wednesday, June 21st, after the market closes followed by a live conference call on Thursday morning, June 22nd at 8:30 a.m. 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.
The Finish Line Inc is one of the largest mall-based specialty retailers operating under the Finish Line, Man Alive and Paiva brand names. It currently operates 669 Finish Line stores in 48 states and online, 65 Man Alive stores in 16 states and 4 Paiva stores in 4 states and online.
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