This Analyst Just Got A First Look At Finish Line's New Store Model

Baird issued positive comments after touring Finish Line Inc FINL's first store modeled on a new format as part of an aggressive multi-year remodeling program.

"Early customer/vendor feedback appears positive, and we are impressed by the fresh/modern design and enhanced brand presentation/storytelling, which has potential to serve as a major sales catalyst," analyst Jonathan Komp wrote in a note.

Komp said he is "impressed" top-to-bottom refresh of the exterior/logo and all interior fixtures and finishings. Of note, he highlighted that long shoe walls containing a hodgepodge of inter-mixed brands/styles have been replaced by new distinctive brand panels for easy navigation of a wide product assortment of various brands.

"While early, we could envision a broader re-positioning of FINL as a destination for compelling casual/lifestyle athletic product. Further, if the changes are executed well and accepted by the FINL's customers – both of which need to be proven – we see potential for remodels to be a multi-year catalyst," Komp noted.

Komp rates FINL Neutral with a price target of $21.

At the time of writing, shares of Finish Line were almost flat at $21.47.