Finish Line Q1 Results Top View On Higher Comps; Backs FY17 Forecast

(RTTNews) - Finish Line, Inc. (FINL), a premium retailer of athletic shoes, apparel and accessories, reported Friday that its first-quarter net income attributable to the company declined to $9.63 million or $0.23 per share from last year's $13.79 million or $0.30 per share.

On average, 22 analysts polled by Thomson Reuters expected the company to earn $0.22 per share. Analysts' estimates typically exclude special items.

Consolidated net sales were $453.52 million, an increase of 2.3% from $443.39 million a year ago. Analysts expected sales of $449.56 million for the quarter.

Finish Line comparable store sales increased 1.5%.

Sam Sato, Chief Executive Officer of Finish Line, said, "We remain focused on successfully executing the strategic initiatives for our Finish Line, Macy's, and JackRabbit businesses while creating an operating model that drives profitable growth and generates shareholder value consistently over the long-term."

Looking ahead, for the fiscal year ending February 25, 2017, the company still expects Finish Line comparable store sales to increase in the 3% to 5% range and earnings per share to be between $1.50 and $1.56. Analysts expect earnings of $1.54 per share for the year.