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Finish Line Q3 profit down on lack of tax benefit
New York City -- The Finish Line said Tuesday that its fiscal third-quarter net income fell 37% as a one-time leg up from a tax windfall last year was not repeated.
Net income in the three months to Nov. 27 hit $4.1 million, from $6.6 million a year ago. Last year's tax benefit amounted to $6.4 million. Revenue rose 9% to $260.9 million, from $240.1 million. Same-store sales were up 4.5% from Nov. 28 through Dec. 19, compared with the same period a year ago.
The results were better than analysts’ estimates.
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Dillard’s to open Internet distribution center
Maumelle, Ark. -- Dillard’s announced it will locate an Internet fulfillment center in Maumelle, Ark., to support the continuing growth of its online business. The company has signed an agreement to purchase the former Target distribution facility and will create over 300 new jobs in the Central Arkansas area.