Earnings Review and Free Research Report: Finish Lines Q2 Result - Erie News Now | WICU & WSEE in Erie, PA

Earnings Review and Free Research Report: Finish Lines Q2 Results Topped Market Forecasts

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Research Desk Line-up: Pier 1 Imports Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Finish Line, Inc. (NASDAQ: FINL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FINL, following the Company’s announcement of its financial results on September 22, 2017, for the second quarter fiscal 2018 (Q2 FY18). The Indianapolis-based Company’s net sales and non-GAAP EPS from continuing operations was down on a year-over-year basis; however, both results still topped market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Specialty Retail, Other industry. Pro-TD has currently selected Pier 1 Imports, Inc. (NYSE: PIR) for due-diligence and potential coverage as the Company reported on September 27, 2017, its financial results for Q2 FY18 which ended on August 26, 2017. Register for a free membership today, and be among the early birds that get access to our report on Pier 1 Imports when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FINL; also brushing on PIR. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=FINL

http://protraderdaily.com/optin/?symbol=PIR

Earnings Reviewed

Finish Line reported net sales of $469.35 million in Q2 FY18, which was below the $485.16 million recorded in Q2 FY17. However, net sales numbers for Q2 FY18 topped market consensus estimates of $469.30 million. During the reported quarter, the Company’s comparable store sales decreased 4.5%; meanwhile, the Company’s Macy’s sales grew 5.6% y-o-y.

The premium shoes, apparel, and accessories retailer’s net income from continuing operations came in at $3.35 million, or $0.08 per diluted share, for Q2 FY18 compared to $23.36 million, or $0.56 per diluted share, in Q2 FY17. The Company’s non-GAAP net income from continuing operations for Q2 FY18 stood at $4.79 million, or $0.12 per diluted share, versus $23.47 million, or $0.56 per diluted share, in the year-ago corresponding period. Wall Street had also expected non-GAAP net income of $0.11 per diluted share.

Operating Metrics

For Q2 FY18, the Company’s gross profit came in at $130.33 million compared to $153.71 million in the year-ago period. Gross margin as a percentage of net sales stood 27.8% in Q2 FY18 versus 31.7% in the prior year’s comparable quarter

Finish Line’s non-GAAP selling, general and administrative (SG&A) expenses stood at $121.77 million for Q2 FY18 compared to $116.51 million in Q2 FY17. The Company’s non-GAAP SG&A expenses as a percentage of net sales was down to 26.0% in Q2 FY18 from 24.0% in the previous year’s same period. During the reported quarter, non-GAAP operating income declined to $8.56 million from $37.20 million in last year’s comparable quarter. Meanwhile, non-GAAP operating margin stood at 1.8% in Q2 FY18 compared to 7.7% in Q2 FY17.

Cash Flow and Balance Sheet

In the three months ended August 26, 2017, Finish Line’s net cash provided by operating activities was $65.34 million versus $119.36 million in the first three months of FY17. As on August 26, 2017, the Company had cash and cash equivalents balance of $114.92 million compared to a balance of $114.30 million as on August 27, 2016. Furthermore, merchandise inventories as of August 26, 2017, stood at $308.07 million compared to $346.39 million as on August 27, 2016.

Earnings Outlook

In its guidance for full-year FY18, Finish Line anticipates comparable store sales to decrease in the range of 3% to 5%. The Company projects adjusted earnings for the 53-week ending March 03, 2018 in the range of $0.50 per share and $0.60 per share.

For Q3 FY18, Finish Line also expects comparable store sales to decrease in the range of 3% to 5%. The Company projects adjusted loss per share to be in the range of $0.32 to $0.40 for Q3 FY18.

Stock Performance

On Thursday, October 05, 2017, the stock closed the trading session at $11.32, climbing 1.80% from its previous closing price of $11.12. A total volume of 1.01 million shares have exchanged hands. The Finish Line’s stock price surged 23.18% in the last one month. The stock is trading at a PE ratio of 35.37 and has a dividend yield of 3.89%. The stock currently has a market cap of $441.03 million.

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