Finish Line Profit And Sales Top Estimates

Sports apparel retailer The Finish Line Inc. said Friday it had net income of $9.6 million, or 23 cents a share, in its fiscal first quarter to end May, down from $13.8 million, or 30 cents a share, in the year-earlier period. Sales edged up to $453.5 million from $443.3 million. The FactSet consensus was for EPS of 22 cents and sales of $450 million. Same-store sales rose 1.5%, below the FactSet consensus of 2.2%. The company said it still expects full-year EPS of $1.50 to $1.56, compared with a FactSet consensus of $1.54. Same-store sales are expected to grow 3% to 5%, which compares with a FactSet consensus of growth of 4%. Shares were slightly higher in premarket trade, but are down 7% in the year so far, while the S&P 500 has gained 3.4%.