The Finish Line, Inc. saw consolidated net sales from continuing operations total $268.7 million for the third quarter, a decrease of 4.0% from consolidated net sales from continuing operations of $280.0 million for the same period last year. Due to the shift of one week in the retail calendar due to last year's 53-week year, Q3LY included approximately $6.7 million of additional sales due to an additional week of the Back To School selling season. Total company comparable store net sales for Q3 declined 3.6%. By concept, Finish Line comparable store net sales declined 3.2% and Man Alive comparable store net sales decreased 9.8%. As a result of last year's 53-week year, Q3 comparable store net sales are compared to the thirteen weeks ended December 2, 2006.
The company expects to report on a GAAP basis a loss per diluted share in the range of 34 cents to 36 cents for Q3. Included in the Q3 loss estimate is approximately 12 cents per diluted share in expenses incurred in connection with the proposed merger with Genesco Inc. and the related litigation and a 7 cents loss per diluted share related to the discontinued operations of Paiva. Excluding the expenses related to the Genesco matter and the losses associated with the discontinued operations of Paiva, the company expects to report a loss per diluted share of 15 cents to 17 cents for Q3.
For the thirty-nine weeks ended December 1, 2007, consolidated net sales from continuing operations were $894.4 million, a decrease of 1.3% versus consolidated net sales from continuing operations of $906.2 million for the thirty-nine weeks ended November 25, 2006. On a year-to-date basis the calendar shift had a negligible affect on consolidated net sales from continuing operations. Year-to-date comparable store net sales decreased 4.1% as compared to a decrease of 5.8% reported for the thirty-nine week period last year. By concept, Finish Line comparable store net sales declined 4.1% and Man Alive comparable store net sales decreased 4.9%. As a result of last year's 53-week year, year-to-date comparable store net sales are compared to the thirty-nine weeks ended December 2, 2006.
The company did not repurchase any shares of Class A Common Stock during Q3 under the current stock repurchase authorization, which expires December 31, 2007. As of December 1, 2007, the Company has repurchased 2,584,617 shares (at a total cost of $35.5 million) of the five million shares authorized.
