Finish Line Outlines Long-Term Operating Targets; Updates Fiscal First Quarter Outlook; Expects Q1 EPS $0.22-0.23 from $0.21 Prior and vs $0.22 Est
The Finish Line, Inc. (NASDAQ: FINL) will today outline its strategy to drive future growth and discuss its long-term operating targets at its Investor and Analyst Event. In addition, the Company updated its fiscal first quarter outlook.
Long-Term Operating Targets
The Company is providing a long-term outlook that includes the following goals for fiscal 2016:
Consolidated net sales of $2 billion; Finish Line store sales of $1.4 billion; Finish Line digital sales of $450 million; The Running Specialty Group sales of $150 million; Operating income of $200 million; Diluted earnings per share of $2.50; and Return on Invested Capital of 25%. The Company's presentation to analysts and investors is scheduled to begin today, May 30, at approximately 11:45 a.m. ET and last until approximately 2:15 p.m. ET. A live webcast of the event will be available by clicking the 'Investor Relations' link under the Company section on www.finishline.com and a replay will be available for 90 days. The slide presentation will be made available on the Company's Investor Relations website following the conclusion of the meeting.
Fiscal First Quarter Updated Outlook
The Company also updated its outlook for the first quarter ending June 2, 2012. Based on current projections, the Company now expects first quarter comparable store sales to increase approximately 8.5% and diluted earnings per share to be between $0.22 and $0.23. This compares to its previous outlook for comparable store sales to increase in the mid single-digit range and diluted earnings per share of approximately $0.21.
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