Source: Company reports
1Q17 RESULTS
Finish Line reported 1Q EPS of $0.23, above consensus of $0.22.
Total revenue was $453.5 million versus expectations of $449.5 million. Comps were 1.5% versus consensus of 2.2%. Management noted a challenging retail environment during the period.
Inventory was up 9.0% year over year as compared to sales growth of 2.3% in the first quarter and slightly below the 9.6% growth rate reported at the end of 4Q.
Y2017 OUTLOOK
Management reaffirmed full year guidance for EPS of $1.50-$1.56 versus consensus of $1.54. Comps are expected to be up 3%-5% versus consensus of 4%. The company signaled that it expects sales to pick up a bit as the year progresses.
