Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Finish Line Inc    FINL

Delayed Quote. Delayed  - 03/29 10:00:00 pm
14.2 USD   +3.27%
03/27 FINISH LINE : Reports Fourth Quarter and Full Fiscal Year 2017 Resul..
03/24 FINISH LINE : FINL) Capsizes Ahead of Earnings
03/24 FINISH LINE : reports 4Q loss
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 
The feature you requested does not exist. However, we suggest the following feature:

Finish Line : Reports Fourth Quarter and Full Fiscal Year 2017 Results

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/27/2017 | 11:55am CEST

Release date- 24032017 - INDIANAPOLIS-The Finish Line, Inc. (NASDAQ: FINL) today reported results for the fourth quarter and fiscal year 2017, representing the thirteen and fifty-two weeks ended February 25, 2017.

For the thirteen weeks ended February 25, 2017:

Consolidated net sales were $557.5 million, a decrease of 0.4% from the prior year period.

Finish Line comparable sales decreased 4.5%.

Finish Line Macy's sales increased 35%.

On a GAAP basis, diluted earnings per share from continuing operations were $0.30.

Non-GAAP diluted earnings per share from continuing operations, which primarily excludes the impact from store impairment charges, were $0.50.

For the fifty-two weeks ended February 25, 2017:

Consolidated net sales were $1.84 billion, an increase of 2.5% over the prior year.

Finish Line comparable sales increased 0.3%.

Finish Line Macy's sales increased nearly 30%.

On a GAAP basis, diluted earnings per share from continuing operations were $0.85.

Non-GAAP diluted earnings per share from continuing operations, which primarily excludes the impact from store impairment charges and severance related charges, were $1.06.

'Our fourth quarter earnings performance represented a disappointing finish to a challenging year financially for our company,' said Sam Sato, Chief Executive Officer of Finish Line. 'As elements of our footwear offering did not resonate with our customers as we expected and the overall retail environment in February became increasingly difficult, we made the decision to get more aggressive on pricing to be competitive and clear slow moving product. While this allowed us to end fiscal 2017 with clean inventory levels, it put significant pressure on fourth quarter product margins. We know we must improve the execution of our merchandise strategies to drive increased full price selling and fuel sustained comparable sales growth. At the same time, we are confident that the numerous operational improvements we made throughout the past year have created a more efficient company with a stronger foundation to support enhanced profitability and increased shareholder value over the long-term.'

Balance Sheet

As of February 25, 2017, consolidated merchandise inventories decreased 4.8% to $331.1 million compared to $348.0 million as of February 27, 2016. Merchandise inventories decreased high-single digits at Finish Line and increased high-single digits at Macy's.

The company repurchased 250,000 shares of common stock in the fourth quarter totaling $4.4 million. For the full year, Finish Line repurchased 2.5 million shares totaling $52.8 million. The company has 4.8 million shares remaining on its current Board authorized repurchase program.

As of February 25, 2017, the company had no interest-bearing debt and $90.9 million in cash and cash equivalents, compared to $79.5 million as of February 27, 2016.

Outlook

The fiscal year ending March 3, 2018 is a 53 week year. For the fiscal year ending March 3, 2018, Finish Line expects comparable sales to increase low-single digits and earnings per share to be in the range of $1.12 to $1.23 which is an increase of approximately 6% to 16% compared with the $1.06 Non-GAAP diluted earnings per share in this fiscal year ended February 25, 2017, which was a 52 week year. We estimate the additional week will contribute approximately $0.06 per share to our fourth quarter and full year fiscal 2018 results.

Q4 Fiscal 2017 Conference Call Today, March 24, 2017 at 8:30 a.m.

The company will host a conference call for investors today, March 24, 2017, at 8:30 a.m. Eastern. To participate in the live conference call, dial 866-923-8645 (U.S. and Canada) or 660-422-4970 (International), conference ID #34406218. The live conference call will also be accessible online at www.finishline.com. A replay of the conference call can be accessed approximately two hours following the completion of the call by dialing 855-859-2056, conference ID #34406218. This recording will be made available through Sunday, April 30, 2017. The replay will also be accessible online at www.finishline.com.

Annual Meeting July 13, 2017

The company's Board of Directors has established July 13, 2017 as the date of the 2017 annual meeting of shareholders, with May 12, 2017 as the record date for this meeting.

Disclosure Regarding Non-GAAP Measures

This report refers to certain financial measures that are identified as non-GAAP. The company believes that these non-GAAP measures, including selling, general and administrative expenses, operating income, income tax expense, net income from continuing operations, and diluted earnings per share from continuing operations, are helpful to investors because they allow for a more direct comparison of the company's year-over-year performance and are useful in assessing the company's progress in achieving its long-term financial objectives. This supplemental information should not be considered in isolation or as a substitute for the related GAAP measures. A reconciliation of the non-GAAP measures to the comparable GAAP measures can be found in this release beginning on page 6 below.

About The Finish Line, Inc.

The Finish Line, Inc. is a premium retailer of athletic shoes, apparel and accessories. Headquartered in Indianapolis, Finish Line has approximately 950 Finish Line branded locations primarily in U.S. malls and shops inside Macy's department stores and employs more than 14,000 sneakerologists who help customers every day connect with their sport, their life and their style. Online shopping is available at www.finishline.com and www.macys.com. Mobile shopping is available at m.finishline.com. Follow Finish Line on Twitter at Twitter.com/FinishLine or Twitter.com/FinishLineNews and 'like' Finish Line on Facebook at Facebook.com/FinishLine. Track loyalty points and find store and product information with the free Finish Line app downloadable for iOS and Android customers.

Forward-Looking Statements

This news release includes statements that are or may be considered 'forward-looking' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally can be identified by the use of words or phrases such as 'believe,' 'expect,' 'future,' 'anticipate,' 'intend,' 'plan,' 'foresee,' 'may,' 'should,' 'will,' 'estimates,' 'outlook,' 'potential,' 'optimistic,' 'confidence,' 'continue,' 'evolve,' 'expand,' 'growth' or words and phrases of similar meaning. Statements that describe objectives, plans or goals also are forward-looking statements.

All of these forward-looking statements are subject to risks, management assumptions and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The principal risk factors that could cause actual performance and future actions to differ materially from the forward-looking statements include, but are not limited to, the company's reliance on a few key vendors for a majority of its merchandise purchases (including a significant portion from one key vendor); the availability and timely receipt of products; the ability to timely fulfill and ship products to customers; fluctuations in oil prices causing changes in gasoline and energy prices, resulting in changes in consumer spending as well as increases in utility, freight and product costs; product demand and market acceptance risks; deterioration of macroeconomic and business conditions; the inability to locate and obtain or retain acceptable lease terms for the company's stores; the effect of competitive products and pricing; loss of key employees; execution of strategic growth initiatives (including actual and potential mergers and acquisitions and other components of the company's capital allocation strategy); cybersecurity risks, including breach of customer data; a major failure of technology and information systems; and the other risks detailed in the company's Securities and Exchange Commission filings. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The forward-looking statements included herein are made only as of the date of this report and Finish Line undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Please read full release at:

http://corporate.finishline.com/phoenix.zhtml?c=81647&p=irol-newsArticle&ID=2256293

(c) 2017 Electronic News Publishing -, source ENP Newswire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FINISH LINE INC
03/27 FINISH LINE : Reports Fourth Quarter and Full Fiscal Year 2017 Results
03/24 FINISH LINE : FINL) Capsizes Ahead of Earnings
03/24 FINISH LINE INC /IN/ : Results of Operations and Financial Condition, Financial ..
03/24 FINISH LINE : reports 4Q loss
03/24 FINISH LINE : Reports Fourth Quarter and Full Fiscal Year 2017 Results
03/20 FINISH LINE : Teams Up With Rich Homie Quan And adidas For Exclusive Sneaker Rel..
03/17 FINISH LINE : Teams Up With Rich Homie Quan And adidas For Exclusive Sneaker Rel..
03/13 FINISH LINE : Fourth Quarter Fiscal Year 2017 Earnings Release Notification
03/13 WEBCAST ALERT : Finish Line Fourth Quarter Fiscal Year 2017 Webcast March 24, 20..
03/13 WEBCAST ALERT : Finish Line Fourth Quarter Fiscal Year 2017 Webcast March 24, 2..
More news
Sector news : Footwear Retailers
12:42a Lululemon shares tumble on miss, weak first-quarter outlook
03/20DJBELLE INTERNATIONAL : Expects Fiscal Year Net Profit to Fall 15%-25%
03/17DJMARKET SNAPSHOT : Stock Market Slides At Close But Holds On To Weekly Gains
03/17DJMARKET SNAPSHOT : Stock Market Struggles For Traction, But Weekly Gains In Sight
03/16DJToday's Top Supply Chain and Logistics News From WSJ
More sector news : Footwear Retailers
News from SeekingAlpha
03/27 FINISH LINE : A Cinderella Story?
03/27 FINISH LINE : I'd Buy The Whole Company If It Trades Below $10
03/27 Jogging To The Finish Line
03/27 Don't Chase Finish Line
03/27 FINISH LINE : Buy The Dip
Advertisement
Financials ($)
Sales 2018 1 890 M
EBIT 2018 74,3 M
Net income 2018 50,3 M
Finance 2018 47,7 M
Yield 2018 3,14%
P/E ratio 2018 11,05
P/E ratio 2019 10,81
EV / Sales 2018 0,27x
EV / Sales 2019 0,24x
Capitalization 558 M
More Financials
Chart FINISH LINE INC
Duration : Period :
Finish Line Inc Technical Analysis Chart | FINL | US3179231002 | 4-Traders
Full-screen chart
Technical analysis trends FINISH LINE INC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 15,0 $
Spread / Average Target 9,3%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Samuel Michael Sato President, Chief Executive Officer & Director
Glenn S. Lyon Non-Executive Chairman
Melissa Greenwell Chief Operating Officer & Executive Vice President
Edward W. Wilhelm CFO, Executive VP & Head-Investor Relations
A. J. Sutera EVP, Chief Information & Technology Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
FINISH LINE INC-26.90%558
BELLE INTERNATIONAL HO..18.06%5 509
ABC-MART INC0.45%4 900
CCC SA10.72%2 246
DSW INC.-10.60%1 624
CHIYODA CO., LTD.-2.66%1 007
More Results