Finish Line Inc.’s fourth-quarter losses were both less than expected and an improvement over the firm’s deficit in the year-ago quarter.
The Indianapolis-based athletic goods retailer narrowed its net loss to $1.4 million, or 3 cents a diluted share, in the period ended Feb. 28, from $39.2 million, or 83 cents a share, a year earlier, when costs from a failed merger with Nashville-based Genesco Inc. weighed down results. Excluding impairment and merger-related charges and other items, income from continuing operations was $19.6 million, or 36 cents a share, 4 cents ahead of the analyst consensus estimate carried by Yahoo Finance but below the 45 cents reported in the prior-year quarter. Revenues slid 4.9 percent to $364.1 million from $382.8 million and sales declined 3.9 percent on a same-store basis.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)