Finish Line Inc.’s third-quarter loss shrank with cuts in costs and inventory, but the company missed Wall Street’s estimate.
For the quarter ended Nov. 29, the Indianapolis-based athletic retailer posted a net loss of $8.8 million, or 16 cents a diluted share, compared with a loss of $16 million, or 34 cents a share, for the year-ago period. Excluding discontinued operations, the net loss for the 2007 quarter was $13.8 million, or 29 cents a share. Quarterly revenue declined 4.4 percent, to $256.9 million from $268.7 million, and was off 3.6 percent on a comparable-store basis. Comps fell 3.3 percent at Finish Line stores and 6.8 percent at Man Alive units.
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