The Finish Line Inc. updated its outlook for the first quarter ending June
2. Based on current projections, the company now expects first
quarter comparable store sales to increase approximately 8.5 percent and
diluted earnings per share to be between 22 and 23 cents per share. This compares
to its previous outlook for comparable store sales to increase in the
mid single-digit range and diluted earnings per share of approximately 21 cents.
In the year-ago quarter, it earned 30 cents a share.
The company provided the guidance update because it is holding its Investor and Analyst Event to discuss its long-term operating targets.
Long-Term Operating Targets
The company is providing a long-term outlook that includes the following goals for fiscal 2016:
Consolidated net sales of $2 billion;
Finish Line store sales of $1.4 billion;
Finish Line digital sales of $450 million;
The Running Specialty Group sales of $150 million;
Operating income of $200 million;
Diluted earnings per share of $2.50; and
Return on Invested Capital of 25 percent.
