The Finish Line, Inc. saw overall net sales increase 7.5% to $429.0 million for the fourteen week fourth quarter from $399.2 million for last year's thirteen week quarter. Excluding the fourteenth week this year (approximately $24.2 million of sales), sales increased 1.4% from the comparable thirteen-week period last year. Total company comparable store net sales for the quarter decreased 5.4%. By concept, Finish Line comparable store net sales declined 5.8% and Man Alive comparable store sales increased 4.4%. The company expects to report income per diluted share in the range of 40 cents to 44 cents for Q4 as compared to income per diluted share of 58 cents reported for Q4 LY. Included in the earnings range for Q4 is a pre-tax charge of $6.7 – $7.8 million (9 cents – 10 cents per diluted share) for the impairment of assets of 17-19 underperforming stores.
For the fifty-three weeks ended March 3, 2007, consolidated net sales were $1.34 billion, an increase of 2.5% compared to consolidated net sales of $1.31 billion reported for the fifty-two weeks ended February 25, 2006. Excluding the fifty-third week this year, consolidated net sales increased 0.6% from the comparable fifty-two week period last year. Comparable store net sales for the fifty-three weeks ended March 3, 2007 decreased 5.7% as compared to an increase of 0.7% reported for the fifty-two weeks ended February 25, 2006. By concept, Finish Line comparable store net sales declined 5.9% and Man Alive comparable store sales increased 1.8% for the fifty-three week comparable period.
