Finish Line Shares Up 1.9% Premarket As Company Tops Sales Estimates

By Ciara LinnaneMarketsMarketWatch Pulse

The Finish Line Inc. shares rose 1.9% in premarket trade Friday, after the sporting goods retailer posted stronger-than-expected sales for its fiscal second quarter. Finish Line said it had net income of $22.1 million, or 53 cents a share, in the quarter to August 27, down from $25.9 million, or 57 cents a share, in the year-earlier period. Sales rose to $509.4 million from $483.2 million. The FactSet consensus was for EPS of 53 cents and sales of $495 million. Same-store sales rose 5.1%, well ahead of the FactSet consensus of 2.9%. The company said it now expects full-year same-store sales to grow 3% to 5%, and EPS to range from $1.50 to $1.56, which wrap around the current consensus for each metric. Shares have gained 33% in the year so far, while the S&P 500 has gained 6.5%.

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