Indianapolis-based sportswear retailer Finish Line Inc. lifted its full-year fiscal 2018 EPS outlook to a range of 59 cents to 67 cents, up from previous guidance of 50 cents to 60 cents, according to revised guidance it provided in its fiscal third-quarter earnings release Dec. 21.
The company narrowed its full fiscal-year comparable-store sales outlook to a decline of 2% to 3% from prior guidance of a decline of 3% to 5%.
For its fiscal third quarter ended Nov. 25, Finish Line posted a net loss of $12.94 million, beating the mean consensus estimate of a loss of $14.89 million, according to S&P Capital IQ, and smaller than the loss of $40.44 million it reported in the third quarter of 2016. The company reported a decline in EPS of 32 cents on a GAAP basis, beating the mean consensus estimate of a decline of 37 cents compiled by Cap IQ. Net sales for the quarter were $378.53 million, beating the consensus estimate of $361.46 million, according to Cap IQ, and above the $371.74 million the company reported in the third quarter in 2016.
The company maintained its guidance for comparable-store sales for its fiscal fourth quarter ending March 3, 2018, and still expects a decline of 3% to 5%. Finish Line also expects adjusted EPS of 50 cents to 58 cents, compared with EPS of 50 cents in the same period a year ago.