The Finish Line, Inc. announced that it has engaged Moelis Advisors as
non-exclusive financial advisor and non- exclusive capital markets
advisor.
Moelis is a division of New York-based Mercanti Securities LLC, which is a unit of Los Angeles-headquartered Mercanti Group.
In its statement, Finish Line didnt discuss why it had hired Moelis.
On Aug. 30, Finish Line said it was “disappointed” with a $4.2 million
second-quarter loss reported by Genesco Inc., which it agreed to
acquire for $1.5 billion. The statement also said Finish Line was
“evaluating its options”
regarding the purchase but stopped short of saying it would back out of
the deal. Analysts believe it may be hoping to negotiate a lowered
price.
Earlier this month, Finish Line said comparable-store sales slipped 4.7
percent in its second fiscal quarter, and that sales rose 1.3 percent,
to $343 million.
