Finish Line To Explore Sale Of JackRabbit Chain

Finish Line Inc. said Tuesday that it will explore strategic alternatives for its JackRabbit running store chain, as the athletic shoe retailer looks to simplify its business and focus on its Finish Line brand. The alternatives could include a potential sale of the chain, but there is no timeline or assurance that a sale could occur. Finish Line said it expects to record a $44 million impairment charge in its third quarter ending November as a result of the exploration of alternatives. The stock, which was still inactive in premarket trade, has soared 27% year to date, while the SPDR S&P Retail ETF has gained 4.7% and the S&P 500 has climbed 5.9%.