Finish Line's Stock Jumps After Profit, Sales Beat Expectations

Finish Line Inc.'s stock ran up 7.4% in premarket trade Friday, putting them on course to open at a new high for this year, after the athletic shoe retailer beat fiscal fourth-quarter profit and sales expectations. For the quarter ended Feb. 28, net earnings were $40.8 million, or 87 cents a share, compared with $43 million, or 87 cents a share, in the year-earlier period. Excluding non-recurring items, adjusted per-share earnings were 88 cents, above the FactSet consensus of 84 cents. Total sales rose 6.3% to $551.3 million and same-store sales increased 2.6%, beating the FactSet consensus of $550 million and 1.8% growth, respectively. For the full fiscal year, the company expects same-store sales growth in the low-single to mid-single-digit percentage range, compared with the FactSet consensus of 2.4%. The stock has rallied 3.2% in the past three months, while the S&P 500 has lost 1.6%.