NEW YORK (TheStreet) -- Shares of Finish Line Inc. (FINL) are up by 2.17% to $24.46 at the start of trading on Friday, after the athletic shoe and apparel retailer posted better than expected earnings results for the 2014 fourth quarter.
Finish Line said its adjusted non-GAAP earnings were 87 cents per share compared to the 85 cents per share analysts polled by Thomson Reuters were expecting.
The company's consolidated net sales grew by 6.3% to $551.3 million over the year-ago-fourth quarter. Analysts had forecast for $550.34 million in revenue for the most recent quarter.
"Our fourth quarter results, especially for our core business, represent a solid finish to a disappointing year. We quickly reduced expenses and gained better leverage to deliver earnings ahead of plan. At the same time, we made progress rebalancing our inventory to better align with customer demand. While there is still work to be done to achieve operational excellence throughout the company, we have a sound plan in place to improve profitability and continue our long track record of returning increased value to our shareholders," Finish Line CEO Glenn Lyon said in a statement.
Separately, TheStreet Ratings team rates FINISH LINE INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FINISH LINE INC (FINL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: FINL Ratings Report