Finish Line reports Q2 same store sales

05 Sep '06
2 min read

The Finish Line Inc reported consolidated net sales of $338.6 million for the thirteen weeks ended August 26, 2006 ("2nd quarter" or "Q2"), a decrease of 0.9 percent versus consolidated net sales of $341.6 million for the thirteen weeks ended August 27, 2005.

These results were in line with the revised sales guidance given in the August 24th press release. Total Company comparable store net sales for Q2 decreased 6.6 percent.

By concept, Finish Line comparable store net sales decreased 6.6 percent and Man Alive comparable store sales decreased 4.8 percent compared to the same thirteen-week period last year.

During Q2 the Company repurchased 1,146,917 Class A Common Shares under the current share repurchase program, which expires December 31, 2007.

To date the Company has repurchased 2,584,617 shares (at a total cost of $35.5 million) of the five million shares authorized.

On a year-to-date basis, for the twenty-six weeks ended August 26, 2006, net sales were $627.7 million, a decrease of 0.8 percent versus net sales of $632.8 million reported for the twenty-six week period last year ended August 27, 2005.

Year-to-date comparable store net sales decreased 6.8 percent as compared to negative 0.3 percent comparable sales reported for the first half of last year.

The Company expects to report earnings for Q2 on Thursday, September 21st, after the market closes followed by a live conference call on Friday morning,September 22nd at 8:30 am ET.

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