The Finish Line, Inc.NASDAQ
Short Finish Line: The Turnaround Will Be Disappointing
Luis V. Sanchez
Luis V. Sanchez
Mon, Nov. 28, 8:33 AM
- Black Friday weekend channel checks from investment firms are still pouring in. A few tidbits are posted below.
- Wells Fargo: Lululemon (NASDAQ:LULU) was a traffic outperformer, while Calvin Klein (NYSE:PVH) and Carter's (NYSE:CRI) held the line on pricing amid a promotional atmosphere.
- Wedbush: High-profile video games were discounted more than last year. Keep an eye out on GameStop (NYSE:GME), Activision Blizzard (NASDAQ:ATVI), Take-Two (NASDAQ:TTWO) and Electronic Arts (NASDAQ:EA).
- Fung Global Retail & Technology: Shoes (FL, FINL) were identified as a hot seller, while jewelry (NYSE:SIG) sales were down.
- Jefferies: Unexpected strength for the UGG brand (NASDAQ:DECK) and Gap was observed. Demand for Michael Kors (NYSE:KORS) and Coach (NYSE:COH) handbags appeared soft.
- Previously: Black Friday wrap: Records fall, retail winners and losers (Nov. 25)
- Source: Bloomberg.
Fri, Nov. 25, 9:07 AM
- Channel checks from Piper Jaffray indicate most of the consumer action last night was focused on toys, electronics and beauty. The first two categories are business as usual for the shopping event, but strong traffic at beauty stores could be an extra boost for Ulta Salon (NASDAQ:ULTA), Sally Beauty Holdings (NYSE:SBH) and e.l.f. Beauty (NYSE:ELF).
- The investment firm also cited solid demand for smartwatches at Fossil (NASDAQ:FOSL) and Michael Kors (NYSE:KORS) stores, while also calling footwear traffic (NKE, UA, FL, FINL, DECK) and conversion rates encouraging.
- Source: Bloomberg
Tue, Nov. 15, 12:34 PM
- Sporting goods chains Hibbett Sports (HIBB -4.6%), Foot Locker (FL -1.4%), Finish Line (FINL -2.4%) and Big 5 Sporting Goods (BGFV -3.1%) are all lower after Dick's issued weak profit guidance this morning.
- The decline of the sporting goods sector also coincides with a generally weak day in retail, with the S&P Retail ETF (NYSEARCA:XRT) down 1.37% at last check. The retail sales report for October came in just fine this morning, but traders think the post-election sector rally may have jumped ahead of itself.
- Previously: Weak guidance sends Dick's Sporting Goods lower (Nov. 15)
Tue, Nov. 1, 4:00 PM
Tue, Oct. 25, 2:40 PM
- Though Foot Locker (FL -1.7%) and Finish Line (FINL -2.3%) are lower after Under Armour clipped some of its longer-term growth estimates, the Citi team doesn't think investors should sweat.
- "We see positive reads for athletic specialty retailers based on UA’s reiterated revenue targets (indicating strong continued demand & pipeline) and accelerated investments to support the brand & product development ahead," reads the note from the investment firm.
- If Citi is correct, the sell-off in Dick's Sporting Goods (DKS -4.5%), Sportsman's Warehouse (SPWH -3.2%) and Big Five Sporting Goods (BGFV -2.4%) may also be overdone.
- Previously: Under Armour under siege as investors reset expectations (Oct. 25)
Fri, Oct. 21, 10:15 AM
- Data from NPD Group indicates that total U.S. footwear sales fell 5% Y/Y in September to $2.4B.
- Sales for women's footwear were down 7% during the month, with the fashion footwear category showing the most weakness. Warmer weather may have delayed some boot buying.
- Coupled with a weak earnings report from Skechers (SKX -17.7%), the broad footwear sector is tracking lower.
- Notable decliners include Rocky Brands (RCKY -3.7%), Weyco Group (WEYS -2.2%), Crocs (CROX -2%), Stephen Madden (SHOO -2.2%), Foot Locker (FL -1.2%), Finish Line (FINL -2.1%), Boot Barn (BOOT -3%), Shoe Carnival (SCVL -0.7%), DSW (DSW -1.5%), and Deckers Outdoor (DECK -3.9%).
- Previously: Skechers skids after earnings disappoint (Oct. 20)
Thu, Oct. 13, 4:56 PM
Fri, Sep. 23, 7:19 AM
- Finish Line (NASDAQ:FINL) reports comparable-store sales rose 5.1% in FQ2.
- Gross margin rate decreased 170 bps to 31.3%.
- SG&A expense rate grew 10 bps to 24.4%.
- Adjusted operating margin rate slipped 170 bps to 6.9%.
- Merchandise inventory +1.6% Y/Y to $372.26M.
- Store count Y/Y: Finish Line -35 to 585; Branded shops -3 to 391; JackRabbit store -6 to 70.
- FY2017 Guidance: Comparable-store sales: +3% to +5%; Adjusted EPS: $1.50 to $1.56.
Fri, Sep. 23, 7:07 AM
Thu, Sep. 22, 5:30 PM| Thu, Sep. 22, 5:30 PM
Mon, Sep. 12, 9:06 AM
Thu, Aug. 11, 9:59 AM
- The retail sector is racking up sizable gains after Macy's set the table with a major store closing announcement (15% of full-line stores).
- Earnings beats at Macy's and Kohl's, along with a surprise upgrade on American Eagle Outfitters (AEO +4.6%) are also helping to boost sentiment.
- Notable gainers include Guess (GES +4.3%), Dillard's (DDS +5.8%), Ascena Retail Group (ASNA +4.6%), Stage Stores (SSI +7.7%), Sears Holdings (SHLD +4.6%), Gap (GPS +3.5%), Abercombie & Fitch (ANF +3.2%), Barnes & Noble (BKS +3.2%), Urban Outfitters (URBN +1.3%), Francesca's (FRAN +2.5%), DSW (DSW +3.5%), Pier 1 Imports (PIR +4%), and Finish Line (FINL +2.4%).
- The S&P 500 Retail ETF (NYSEARCA:XRT) is up 2.1% on the day off the chain store buzz.
- Retail ETFs: XLY, XRT, VCR, RTH, RETL, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, JHMC, CNDF
Thu, Jul. 14, 1:57 PM| Thu, Jul. 14, 1:57 PM
Thu, Jul. 14, 1:30 PM
Fri, Jun. 24, 12:45 PM
Fri, Jun. 24, 10:15 AM
- Finish Line (FINL +15.6%) is a rose growing in today's market carnage, surging more than 15% after FQ1 earnings and revenues both exceed expectations.
- FINL says sales should rise slightly as the year progresses; Q1 sales at stores open at least a year rose 1.5%, down sharply from the 4.6% increase in the year-ago quarter and below analyst estimates, but comp sales are expected to rise by 3%-5% for the full year.
- Reaffirms FY 2017 guidance for EPS of $1.50-$1.56 vs. $1.54 analyst consensus estimate.
- Citigroup reiterates its Buy rating and $23 price target on the stock.