Finish Line Earnings: Here’s Why the Stock is Up Now
Finish Line Inc. (NASDAQ:FINL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.47%.
Finish Line Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 16.67% to $0.20 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 10.01% to $351 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Finish Line Inc. reported adjusted EPS income of $0.20 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $343.01 million.
Quoting Management: “We are pleased with the start to Fiscal 2014 as improving trends in our Finish Line running business combined with continued strength in basketball and disciplined expense management drove our results,” said Chairman and Chief Executive Officer, Glenn Lyon. “Strategically, the quarter was marked by significant progress on our key growth initiatives including the well-received launch of our Macy’s business in stores and online and the expansion of the Running Specialty Group footprint with the acquisition of some very productive doors. We have clear vision and sound strategies in place to transform our Company into a premier, multi-divisional, omni-channel retailer and drive increased value for our shareholders.”
Key Stats (on next page)…