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December 20, 2013
10:53 EDTFINL, FL, MFinish Line rises after earnings, notes mid-single digit comps this month
Shares of running shoe and sports apparel retailer Finish Line (FINL) are higher this morning after the company reported third quarter results that beat expectations. WHAT'S NEW: Finish Line reported Q3 earnings per share of 6c excluding items and revenue of $364.5M, which topped analystsí consensus estimates of 1c and $354.57M, respectively. Same-store sales for the quarter increased 7.1%. The company also guided FY EPS $1.60-$1.65, above consensus estimates of $1.59. The company now sees SSS to rise 3%-4% this fiscal year, compared to its previous expectation for a low single digit increase. Chairman and CEO Glenn Lyon said that the company is on the "right strategic course" and is well-positioned to deliver on near- and long-term goals. WHAT'S NOTABLE: On its earnings conference call, Finish Line said December comps to date are up mid-single digits. The company also forecast FY CapEx approximately $90M, which includes an estimated $18M in capital outlay associated with the building out of shops at Macy's (M). The company sees opening up to 25 new Finish Line stores for the full year and closing 20-25 stores. PRICE ACTION: Finish Line is up $1.72, or 6.6%, to $27.86 in mid-morning trading. OTHERS TO WATCH: Foot Locker (FL), which also sells running shoes and sports apparel, is up over 2.6% this morning to $40.72.
News For FINL;FL;M From The Last 14 Days
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April 21, 2014
14:44 EDTMLululemon shares weak after 'uneventful' analyst day
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April 17, 2014
07:31 EDTMLululemon faces increased competition in yogawear industry, Reuters says
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April 11, 2014
09:19 EDTMMacy's management to meet with JPMorgan
Meetings to be held in Boston on April 15-16 hosted by JPMorgan.

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