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The Finish Line, Inc. (NASDAQ:FINL) came out with third-quarter fiscal 2018 results, wherein adjusted loss from continuing operations of 26 cents per share came narrower than the Zacks Consensus Estimate of a loss of 37 cents. However, the company reported adjusted loss of 24 cents in the prior-year period.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has remained stable over the last 30 days. However, in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 13.2%.
Revenues: Finish Line generated net sales of nearly $378.5 million that increased 1.8% year over year and also came ahead of the Zacks Consensus Estimate of $361 million. Also, comparable store sales inched up 0.8%.
Outlook: Following the results, the company updated its fiscal 2018 outlook. For fiscal 2018, which will have an additional 53rd week, the company expects earnings to come in a band of 59-67 cents per share, up from the earlier guidance of 50-60 cents. Further, comps are anticipated to decline in the band of 2-3%.
For the fiscal fourth quarter, earnings are envisioned in the band of 50-58 cents per share. Further, comps are expected to fall in the band of 3-5%.
Zacks Rank: Currently, Finish Line carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Finish Line shares rose 7.9% during the pre-market trading hours following the better-than-expected quarterly results.
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