Finish Line Posts Quarterly Loss, Cuts Guidance
Finish Line has released its fiscal 3Q 2013 results, and they show a surprise loss. The athletic apparel maker's net sales came in at $297 million, while net loss amounted to $107,000. By contrast, those figures in 3Q 2012 were $282 million, and a profit of $5.5 million ($0.11 per share).
Analysts, on average, had been expecting EPS of around $0.10 for the quarter.
Quoting CEO Glenn Lyon, the company attributed the shortfall to "a shift within athletic footwear trends and a less than favorable consumer response to the new e-commerce site we launched in mid November."
Additionally, Finish Line trimmed its expectations for full-year fiscal 2013. The company now expects EPS of $1.47-$1.51. Previously, it had forecast a 6%-9% increase over the $1.53 of fiscal 2012.
The article Finish Line Posts Quarterly Loss, Cuts Guidance originally appeared on Fool.com.Eric Volkman has no position in Finish Line. The Motley Fool has no position in Finish Line. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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