Finish Line Sinks on Forecast (FINL)

Finish Line posted fourth quarter adjusted EPS of $0.81, in-line with the consensus estimate, and revenue of $456.3 million, well ahead of the consensus estimate of $432.6 million. The store expects same-store sales for the current quarter to be 10% higher than the same period a year ago.

But in the what-have-you-done-for-me-lately category, Finish Line said first quarter earnings would be much lower:

Based on the planned level of strategic investments, combined with lower product margins due to a shift in the promotional calendar, and occupancy cost deleverage, the company expects first quarter earnings per share to be down approximately 30%.

Investors are fleeing in droves. The company’s share price is down nearly -14% at $21.83 in a 52-week range of $16.42-$26.16.