Specialty retailer Finish Line reconfirms Q4 guidance
27 Jan '06
2 min read
Nation's leading athletic specialty retailers Finish Line Inc reconfirmed guidance for the fourth quarter ending February 25, 2006 ("Q4") and announced sales and earnings guidance for the year ending March 3, 2007 ("Fiscal 07").
The Company's comparable sales through the first eight weeks of the 13- week quarter have been at the top end of the range with product margin on plan.
The Company had previously issued guidance for Q4 of a comparable sales gain of 1-2 percent and earnings per diluted share of $.58 - $.60.
While the Company still has to perform against the 8 percent comparable sales gain for the month of February last year, it now believes that it will achieve the upper end of the ranges for both comparable sales and earnings for Q4.
The Company's guidance for the full fiscal year is $1.23 - $1.25 based on the expected fourth quarter results.
The Company will have an additional week in Fiscal 07 (a 53-week year versus the typical 52-week year), which is reflected in the fourth quarter and full year guidance.
The Company estimates that the extra week is a $.06 benefit to earnings in the fourth quarter.
In addition, the guidance above includes $7.4 million ($.10 per diluted share) for stock option expense as required by FAS 123R, "Accounting for Stock-Based Compensation."
The Company anticipates opening 50 new Finish Line stores, 30-35 Man Alive stores and 15 Paiva stores in Fiscal 07.
This equates to a 9-10 percent increase in store square footage open for the consolidated group.
marketing@alchempro.com
