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:
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:
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.
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.
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.
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.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
Information contained on this page is provided by an independent third-party content provider. Frankly and this Station make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact firstname.lastname@example.org