Finish Line Q1 profit falls on costs but still beats Street
New York -- The Finish Line Inc. said Friday its fiscal first-quarter profit fell 25% as higher costs offset sales growth. For the quarter ended June 2, the company earned $12.3 million, just beating Wall Street expectations, down from $16.4 million in the year-ago period. Sales rose 6.5% to $319 million, from $299.5 million. Same-store sales were up 8%. The company's cost of sales rose 9.3% to $214.4 million. Selling, general and administrative expenses increased 11% to $84.8 million.