Finish Line Exploring Alternatives for JackRabbit

Shares of Finish Line (FINL) were lower on Tuesday on word it is currently exploring strategic alternatives for the company's specialty running store chain, JackRabbit. Finish Line believes its long-term growth strategy and profitability improvement plans align with simplifying the business. So, the company is evaluating possible alternatives for JackRabbit, including a potential sale. But, Finish Line said, "There is no definitive timeline or assurance that this process will result in a sale transaction."

The company expects to record a non-cash goodwill impairment charge in the third quarter of fiscal 2017 of approximately $4 million.

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