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Why Finish Line Stock Surged Today

TheMotleyFool

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Why Finish Line Stock Surged TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png

Shares of footwear retailer Finish Line Inc (NASDAQ: FINL) jumped on Thursday following a better-than-expected third-quarter report. The company managed to grow comparable sales, and its net loss was smaller than analysts expected. The stock was up about 13% at market close.

Finish Line reported third-quarter revenue of $378.5 million, up 1.8% year over year and about $17.5 million higher than the average analyst estimate. Comparable store sales rose 0.8%, while sales through the company's partnership with Macy's rose 2.3%. "We finished the third quarter ahead of expectations despite a highly promotional environment for athletic footwear," said Finish Line CEO Sam Sato.

Image source: The Finish Line.

Source: Fool.com