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Non-Tech : FINL (Finish Line) -- Ignore unavailable to you. Want to Upgrade?

To: cog who wrote (197)	8/13/1998 7:01:00 PM
From: Stan	Read Replies (1) \| Respond to of 209

Today's close $10.06. Market reaction is way overdone but not surprising, given the overall nervousness, IMO. Key ratios show it to be undervalued for its industry. August 12, 1998 04:31 PM INDIANAPOLIS--(BUSINESS WIRE)--Aug. 12,1998--The Finish Line, Inc. FINL today announced that it expects to report earnings for the second quarter ending August 29, 1998 between the range of $0.29 and $0.34 per share versus $0.34 per share reported for the second quarter of last year. Additionally, should sales trends experienced thus far in the back-to-school period continue for the second half of the year, full year earnings could be between $1.00 and $1.10 per share versus $1.02 reported for the full year last year. Analysts earnings estimates for the second quarter and full year according to First Call are $0.41 and $1.26 per share, respectively. The Company expects to report second quarter earnings in late September. Alan H. Cohen, President and CEO stated: "We experienced same store sales increases which approximated plan in June (increased approximately 3%) and July (increased approximately 3%) while total sales for each month were slightly below plan increasing approximately 30% and 27% for June and July, respectively. However, the sales trend beginning the all important back-to-school period which started the last week of July have significantly fallen off planned sales. Contributing to the sales decline has been a much more promotional environment than last year, as well as a more pronounced softness in athletic apparel sales. Also contributing to the difficult environment is a tough sales comparison from last year when August same store sales were up 10%. In addition, Labor Day weekend (which is one week later this year compared to last year) has delayed some back-to-school sales to early September which will fall in our 3rd quarter as compared to our 2nd quarter last year. Also, for some of these reasons, which may continue into the second half of the year, we are viewing sales and earnings for the second half of the year more cautiously." "Despite this slower back-to-school sales trend, we are continuing to manage our inventory levels and expect inventories at the end of the second quarter to be slightly above plan, but to be less per square foot than one year ago. We remain on plan for our new and remodeled store program, adding approximately 30% in retail square footage for the current year." Except for the historical information contained herein, the matters discussed in this release are forward looking statements that involve risks and uncertainties which include, but are not limited to, product demand and market acceptance risks, the effect of economic conditions, the effect of competitive products and pricing, the availability of products, management of growth, and the other risks detailed in the Companys Securities and Exchange Commission filings. The Finish Line is a specialty retailer of mens, womens and childrens brand name athletic and leisure footwear, activewear and accessories. The Company currently operates 328 stores in 36 states. The Company has scheduled a telephonic conference call at 9:00am et Thursday, August 13th which may be accessed by calling 630-395-0408 (Pass Code is 1000 and leader name is Alan Cohen). Alan H. Cohen (President & CEO) and Steven J. Schneider (Sr. Vice President - Finance) will narrate the call and be available for questions. If you are unable to participate in the live conference call, a replay of the call will be available for 48 hours by calling 402-220-0207. Terms of Use, and Privacy Policy. c 1996-98 Microsoft Corporation and/or its suppliers. All rights reserved. c 1998 Business Wire. BTW, does anyone live near or shop in a Finishline store? What do you think of it? Stan. (still holding this one long-term)