EX-99.1 2 fin_8k0601ex.htm PRESS RELEASE ISSUED JUNE 1, 2006 Press Release issued June 1, 2006
 
Exhibit 99.1


FINISH LINE REPORTS 1st QUARTER COMPARABLE STORE SALES

INDIANAPOLIS- June 1, 2006-The Finish Line, Inc. (NASDAQ:FINL) reported consolidated net sales of $289,046,000 for the thirteen weeks ended May 27, 2006 (“1st quarter” or “Q1”), a decrease of 0.8% versus consolidated net sales of $291,267,000 for the thirteen weeks ended May 28, 2005. These results were in line with the revised sales guidance given in the May 18th press release. Total Company comparable store net sales for Q1 decreased 7.2 percent. By concept, Finish Line comparable store net sales decreased 7.3 percent and Man Alive comparable store sales increased 0.6 percent compared to the same thirteen-week period last year.

During Q1 the Company repurchased 113,100 Class A Common Shares under the current share repurchase program, which expires December 31, 2007. To date the Company has repurchased 1,437,700 shares (at a total cost of $21,285,000) of the five million shares authorized.

The Company expects to report earnings for Q1 on Wednesday, June 21st, after the market closes followed by a live conference call on Thursday morning, June 22nd at 8:30 am ET.

The Company will make available a recorded message covering first quarter net sales by dialing 1-706-645-9291 (Conference ID# = 1016189). This replay will be available for 48 hours beginning approximately 8:30am ET Thursday, June 1st. After the initial 48-hour period the recording will be available at www.Finishline.com through June 12th.

The Company has experienced, and expects to continue to experience, significant variability in net sales and comparable store net sales from quarter to quarter. Therefore, the results of the periods presented herein are not necessarily indicative of the results to be expected for any other future period or year.
 
Certain statements contained in this press release regard matters that are not historical facts and are forward looking statements (as such term is defined in the rules promulgated pursuant to the Securities Act of 1933, as amended). Because such forward looking statements contain risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward looking statements. Factors that could cause actual results to differ materially include, but are not limited to: changing consumer preferences; the Company’s inability to successfully market its footwear, apparel, accessories and other merchandise; price, product and other competition from other retailers (including internet and direct manufacturer sales); the unavailability of products; the inability to locate and obtain favorable lease terms for the Company’s stores; the loss of key employees, general economic conditions and adverse factors impacting the retail athletic industry; management of growth; and the other risks detailed in the Company’s Securities and Exchange Commission filings. The Company undertakes no obligation to release publicly the results of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

The Finish Line, Inc. is one of the largest mall-based specialty retailers operating under the Finish Line, Man Alive and Paiva brand names. The Finish Line, Inc. is publicly traded on the NASDAQ National Market under the symbol FINL. The Company currently operates 669 Finish Line stores in 48 states and online, 65 Man Alive stores in 16 states and 4 Paiva stores in 4 states and online. To learn more about these brands, visit www.finishline.com , www.manalive.com and www.paiva.com .
 
Investor Relations:
 
CONTACT:
Kevin S. Wampler, 317-899-1022, Extension 6914
 
Executive Vice President - CFO
 
THE FINISH LINE, INC., INDIANAPOLIS
   
Media Requests:
 
CONTACT:
Elise Hasbrook, 317-899-1022, Extension 6827
 
Corporate Communications Manager
 
THE FINISH LINE, INC., INDIANAPOLIS