NEW YORK (TheStreet) -- Shares of Finish Line (FINL) are higher by 7.41% to $29 in pre-market trading on Friday morning, after the athletic shoe and sports apparel retailer posted better than expected earnings results for the fiscal 2016 first quarter.
For the most recent quarter Finish Line said its non-GAAP earnings were 30 cents per diluted share. Analysts polled by Thomson Reuters had forecast for earnings of 24 cents per share for the quarter.
The company's consolidated net sales grew by 9.1% to $443.4 million, while analysts were expecting $430.84 million for the period.
"Fiscal 2016 is off to a solid start," company CEO Glenn Lyon said in statement.
"We're delivering an enhanced customer experience with our commitment to offering latest and greatest merchandise assortments and providing world class service. We will continue to drive consistent growth and increased profitability across each of our divisions with focus on our customer-centric operating model. We are confident these strategies will translate into greater value for our shareholders over the long-term," Lyon continued.
Separately, TheStreet Ratings team rates FINISH LINE INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FINISH LINE INC (FINL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."