The Finish Line's board on Monday adopted a shareholders rights plan as the retailer warned of a grim second quarter and a steep decline in sales and profits for the year.
The move comes on the same day that the retailer announced disappointing preliminary results for its second quarter, ended August 26, 2017, and cut its outlook for the fiscal year ending March 3, 2018. For the second quarter, consolidated net sales fell 3.3% to $469.4 million, driven by a 4.6% decrease in Finish Line same-store sales. . . . more