Finish Line beats by $0.10, beats on revs; guides Q4 EPS in-line; Q3 comps +0.8%; sees Q4 comps declining 3-5%
- Reports Q3 (Nov) loss of $0.26 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of ($0.36); revenues rose 1.8% year/year to $378.5 mln vs the $361.46 mln Capital IQ Consensus. Q3: Finish Line comparable store sales increased 0.8%.
- Co issues in-line guidancefor Q4, sees EPS of $0.50-0.58, excluding non-recurring items, vs. $0.54 Capital IQ Consensus Estimate; For Q4 company expects Finish Line comparable sales to decrease 3% to 5%.
- "The growth initiatives that we've put in place are driving increased traffic to our brand and helping increase conversion. While we responded to certain pricing actions in the marketplace to be competitive, we delivered gross margin in line with forecasts, and remained highly disciplined in managing expenses and inventories. Looking ahead, we continue to be cautious in the near-term, but I am confident that the work we are doing to position the company for long-term growth and enhanced profitability is gaining traction."
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