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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowBeleaguered Indianapolis athletic retailer Finish Line Inc. reported more bad news Thursday afternoon.
The company reported a net loss of $15.95 million, or 34 cents per diluted share, for its fiscal third quarter, which ended Dec. 1, 2007. That compares to a loss of $2.98 million for the same quarter in 2006. Meanwhile, same-store sales dropped 3.6 percent.
The poor performance is a result of a slumping market for athletic shoes as well as legal costs stemming from Finish Line’s tangle with Genesco Inc., the Tennessee company it agreed to purchase for $1.5 billion in June.
Executives will discuss the results during a conference call Friday morning. Check IBJ.com for updates.
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