Shares of Finish Line Inc. fell 2.4% in premarket trade Friday, after the athletic shoe and apparel retailer reported fiscal second-quarter profit and sales that missed expectations. Net income for the quarter to Aug. 26 fell to $2.8 million, or 7 cents a share, from $22.1 million, or 53 cents a share, in the same period a year ago. In an Aug. 28 profit and sales warning, the company said it expected earnings per share of 8 cents to 12 cents. Excluding non-recurring items, adjusted EPS for the latest quarter was 12 cents, missing the FactSet consensus of 14 cents. Revenue declined to $469.4 million from $485.2 million, while the FactSet consensus was $470.5 million. Same-store sales declined 4.5%. On Aug. 28, the company had cut its full-year EPS outlook to 50 cents to 60 cents from $1.12 to $1.23. The stock has tumbled 27.6% over the past three months, while the SPDR S&P Retail ETF has gained 3.2% and the S&P 500 has tacked on 2.7%.
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