JANUARY 27, 2006 -- The Finish Line,'s comp-store sales through the first eight weeks of the 13-week 4Q have been at the top end of the range with product margin on plan. The company had previously issued guidance for 4Q of a comp gain of 1%-2% and earnings per diluted share of $0.58 - $0.60.
While the company still has to perform against the 8% comp gain for the month of February last year, it now believes that it will achieve the upper end of the ranges for both comparable sales and earnings for 4Q. The company's guidance for the full fiscal year is $1.23 - $1.25 based on the expected fourth quarter results.
FISCAL 07 GUIDANCE
The following sets forth the Company's sales, comparable sales and earnings guidance for FY07:
1Q: Revenues of $323.0 million; comps of 1%-3%; and EPS of $0.23-$0.25;
2Q; Revenues of $382.0 million; comps of 1%-3%; and EPS $039-$0.41;
3Q: Revenues of $314.0 million; comps of 1%-3%; and EPS of $0.02-$0.04;
4Q: Revenues of $481.0 million; comps of 1%-3%; and EPS of $0.69-$0.71.
The company anticipates opening 50 new Finish Line stores, 30-35 Man Alive stores and 15 Paiva stores in FY07. This equates to a 9-10% increase in store square footage open for the consolidated group. Capital expenditures for FY07 will approximate $65-$70 million.