Finish Line Inc. (NASDAQ: FINL)
Finish Line News & Technicals
Before the market opened today, Finish Line (FINL) reported earnings that didn’t even come close to analyst expectations and as a result they are replacing the CEO with the current President, Sam Sato, and closing 25% of stores or roughly 150 stores. The athletic shoe retailer reported a nasty loss of $21.8 million or 49 cents per share while analyst were looking for 4-cent loss per share on $408 million in sales according to Thomson Reuters. Shares are looking to open in the low $15 range.
Looking at the daily chart you can see that shares took a nasty dip back in September and haven’t quite recovered from it. Today shares are set to gap down by roughly 15% from the previous days close of $18.50 so we’ll have to see how traders take in this information at the open. Looks like there will be some support at the $15 level while resistance will be met at $15.50 and the $16 levels. I would be looking for a short on this so we’ll have to see if we can get a relief rally for a possible entry point.
The Finish Line, Inc. is a premium retailer of athletic shoes, apparel and accessories for men, women and kids throughout the U.S. It operates through two retail divisions, one under the Finish Line brand name and another under the Running Specialty Group. The Finish Line division is a retailer of athletic shoes, apparel, and accessories. The Running Specialty is a lifestyle retailer of precision-fitted running shoes, apparel, and accessories. Finish Line was founded by Alan H. Cohen, Larry J. Sablosky and David I. Klapper in 1976 and is headquartered in Indianapolis, IN. (MarketWatch)