were among the
losers Friday, tumbling 17% after the athletic-wear retailer slashed its first-quarter and full-year guidance.
The company now sees earnings of 8 cents to 10 cents a share for the first quarter ending May 27, down from an earlier view of 18 cents to 20 cents a share. Analysts polled by Thomson First Call project earnings of 19 cents a share. The company anticipates revenue of $285 million to $290 million, below its previous forecast of $312 million, and below the $311.2 million that analysts project.
Finish Line estimates a 7% to 9% decline in first-quarter same-store sales, compared with the earlier forecast for a drop of 1% to 3%. "For the quarter, we have experienced significant weakness in women's performance running and our kids' footwear departments with both down double digits on a comparable-store basis," the company said.
For the fiscal year ending next March, Finish Line expects earnings of 84 cents to 95 cents a share, with revenue of $1.37 billion to $1.41 billion. Previously, the company projected earnings of $1.33 to $1.37 a share on revenue of about $1.5 billion. Analysts forecast full-year earnings of $1.34 a share on revenue of $1.48 billion. Shares were trading down $2.49 to $12.19.
Shares of fellow athletic-wear retailer
jumped 11% after
Women's Wear Daily
reported that several private equity firms are looking at making a play for the company. The trade publication, citing investment banking and financial sources, said the retailer could be a leveraged buyout candidate with a possible value of $30 a share.
Meanwhile, late Thursday, Foot Locker reported a first-quarter profit of $59 million, or 38 cents a share, up from $58 million, or 37 cents a share, a year earlier. Excluding a gain related to an accounting change, earnings were 37 cents a share and matched analysts' mean estimate. Foot Locker's sales declined slightly to $1.37 billion from $1.38 billion, while same-store sales rose 0.5%.
Foot Locker forecast second-quarter earnings of 27 cents to 30 cents a share, compared with analysts' average estimate of 30 cents. The company maintained its full-year forecast for earnings of $1.75 to $1.85 a share, in line with Wall Street's expectation of $1.77. Foot Locker shares were up $2.46 to $24.60.
Hibbett Sporting Goods
dropped 16% after the sporting goods retailer posted in-line first-quarter earnings but weaker-than-expected revenue. The company earned $11.5 million, or 35 cents a share, on revenue of $126.9 million. Analysts expected earnings of 35 cents a share on revenue of $131.1 million. During the year-earlier quarter, the company earned $10.7 million, or 31 cents a share, on revenue of $114.8 million.
Looking ahead, Hibbett sees second-quarter earnings of 14 cents to 16 cents a share, including stock-based compensation costs of 1 cent to 2 cents a share. For the full year, the company anticipates earnings of $1.08 to $1.12 a share, including stock-based compensation costs of 7 cents to 9 cents a share. Analysts expect second-quarter earnings of 15 cents a share and full-year earnings of $1.09 a share, excluding stock-based compensation costs. Hibbett shares were trading down $4.72 to $24.36.
( FMCN) rose 7% after the Chinese advertising company posted better-than-anticipated first-quarter results and issued a second-quarter guidance that topped expectations. For the first quarter, Focus earned $9.4 million, or 20 cents per American depository share, on revenue of $33.1 million. On an adjusted basis, which excludes items, the company reported earnings of $11.9 million, or 26 cents a share.
Analysts expected earnings of 18 cents a share on revenue of $29.7 million. During the year-earlier quarter, the company posted adjusted earnings of $3 million, or 10 cents a share, on revenue of $9.6 million.
Focus Media sees second-quarter earnings of $18 million to $19 million, excluding items. The company predicts revenue of $48 million to $50 million. Analysts project earnings of $16.1 million and revenue of $46.6 million. Shares were trading up $4.23 to $65.95.
rose 2% after the women's apparel retailer reported first-quarter results that topped forecasts. The company earned $39 million, or 53 cents a share, up from $17 million, or 24 cents a share, a year earlier. Analysts expected earnings of 40 cents a share. The company's revenue rose to $556.2 million from $476.4 million, surpassing analysts' target of $543.7 million. Analysts expected earnings of 40 cents a share on revenue of $543.7 million.
AnnTaylor raised its 2006 earnings forecast to $1.70 to $1.75 a share, up a dime from its previous guidance. Analysts project earnings of $1.69 a share. Shares were trading up 70 cents to $38.
rose 1% after the department-store chain posted better-than-expected first-quarter results. The company earned $131.2 million, or 48 cents a share, on revenue of $1.79 billion. Analysts expected earnings of 45 cents a share on revenue of $1.77 billion. A year earlier, the company earned $104.5 million, or 38 cents a share, on revenue of $1.65 billion.
Looking ahead, Nordstrom sees second-quarter earnings of 59 cents to 64 cents a share, in line with the 62 cents a share that analysts project. Shares were trading up 22 cents to $35.72.
volume leaders included
Advanced Micro Devices
, up $3.12 to $34.47;
( LU), unchanged at $2.52;
, down $2.25 to $29.36;
, up 12 cents to $24.01;
, up 4 cents to $17.44; and
, up 31 cents to $34.46.
Nasdaq volume leaders included
, down 66 cents to $17.99;
, down 19 cents to $22.64;
, up 30 cents to $20.59;
, up 20 cents to $24.15;
Sirius Satellite Radio
, down 6 cents to $3.95;
, up 1 cent to $4.62;
, up 2 cents to $2.79; and
, up 3 cents to $13.80.