8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):   June 28, 2007

The Finish Line, Inc.

(Exact Name of Registrant as Specified in Charter)

Indiana	0-20184	35-1537210
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3308 North Mitthoeffer Road, Indianapolis, Indiana	46235
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (317) 899-1022

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On June 28, 2007, The Finish Line, Inc. (the “Company”) issued a press release discussing its results of operations and financial condition as of and for the thirteen weeks ended June 2, 2007.

A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in this Current Report, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d)	Exhibits
	Exhibit No.	Description
	99.1	Press Release issued June 28, 2007

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	The Finish Line, Inc.
Date: June 28, 2007	By:	/s/ Kevin S. Wampler
		Kevin S. Wampler
		Executive Vice-President - Chief Financial Officer and Assistant Secretary

3

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release issued June 28, 2007

4

EX-99.1

Exhibit 99.1

FINISH LINE REPORTS FIRST QUARTER RESULTS

INDIANAPOLIS June 28, 2007— The Finish Line, Inc. (NASDAQ:FINL) announced results for the first quarter ended June 2, 2007.

For the thirteen weeks ended June 2, 2007 (“Q1”), the Company reported a net loss of $3.9 million, or $(.08) per diluted share, versus net income of $4.4 million, or $.09 per diluted share, for the thirteen weeks ended May 27, 2006 (“Q1 LY”). Diluted weighted average shares outstanding were 47,135,000 for Q1 versus 48,625,000 shares outstanding for Q1 LY.

Consolidated net sales decreased 0.2% to $288.3 million for Q1 compared to $289.0 million reported for Q1 LY. Comparable store net sales decreased 3.9% for Q1 as compared to a 7.2% decrease reported for Q1 LY.

 Merchandise inventories on a consolidated basis were $308.1 million at June 2, 2007 compared to $298.4 million at May 27, 2006. As of June 2, 2007, on a per square foot basis, consolidated inventories decreased 3%, and Finish Line store merchandise inventories decreased 1% compared to one year ago.

Alan H. Cohen, Chief Executive Officer of Finish Line, stated, “During the quarter, we made progress in our efforts to increase our sport style offerings, including sandals and canvas footwear, to better align our product mix with consumer demand.  Although the retail environment remains competitive, we have put in place both product and operating initiatives that we believe will lead to improvements in our business.  Our goal is to remain committed to performance and to strengthen our position in sport style product in order to satisfy the expectations of our consumers.”

CONFERENCE CALL:

As previously announced, the Company is hosting a live conference call at 8:30 am (ET) on Friday June 29th.  Interested parties may participate in the call by calling 1-706-634-5566 (conference leader is Steve Schneider and conference ID# is 1533016). Those interested in listening to the call on the web can do so at www.finishline.com.

The Company will make available a replay of the live conference call by calling 1-706-645-9291 (Conference ID# 1533016). This replay will be available commencing at approximately 9:45 ET on Friday, June 29th and will remain available through July 2nd.  In addition, the replay will be available on the web at www.finishline.com.

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 Global Select Market under the symbol FINL. The Company currently operates 696 Finish Line stores in 47 states and online, 93 Man Alive stores in 19 states and 15 Paiva stores in 10 states and online.  To learn more about these brands, visit www.finishline.com , www.manalive.com and  www.paiva.com .

The Finish Line, Inc.

Consolidated Statements of Operations (Unaudited)

(In thousands, except per share and store data)

	Thirteen Weeks Ended
	June 2,			May 27,
	2007			2006
Net sales	$	288,333		$	289,046
Cost of sales (including  occupancy expenses)		211,494			203,129
Gross profit		76,839			85,917
Selling, general, and administrative expenses		82,507			79,626
Operating (loss) income		(5,668	)		6,291
Interest income, net		463			735
(Loss) income before income taxes		(5,205	)		7,026
(Benefit) provision for income taxes		(1,334	)		2,670
Net (loss) income	$	(3,871	)	$	4,356
Diluted weighted average shares outstanding		47,135			48,625
Diluted net (loss) income per share	$	(0.08	)	$	0.09
Dividends declared per share	$	0.025		$	0.025
Number of stores open at end of period:  Finish Line		695			669
Man Alive		93			65
Paiva		15			4

	Condensed Consolidated Balance Sheets
	June 2,		May 27,		March 3,
	2007		2006		2007
	(Unaudited)		(Unaudited)
ASSETS
Cash, cash equivalents and marketable securities	$	33,050	$	62,090	$	62,864
Merchandise inventories, net		308,097		298,438		287,300
Other current assets		29,179		21,715		30,212
Property and equipment, net		248,757		231,412		247,468
Other assets		33,089		26,045		28,792
Total assets	$	652,172	$	639,700	$	656,636
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	$	131,244	$	147,002	$	142,886
Deferred credits from landlords		65,481		59,773		64,472
Other long-term liabilities		9,183		--		--
Shareholders' equity		446,264		432,925		449,278
Total liabilities and shareholders' equity	$	652,172	$	639,700	$	656,636

CONTACTS:

Investor Relations:

   Kevin S. Wampler, 317/899-1022 ext. 6914

   Executive Vice President - Chief Financial Officer

Media Requests:

   Elise Hasbrook, 317/899-1022 ext. 6827

   Corporate Communications Manager