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Finish Line Q4 profit falls; announces new buyback plan
Indianapolis -- The Finish Line Inc. on Friday reported a decline in its fourth-quarter profit and cautioned that profits in its current year may not hit expectations of a fiscal fourth-quarter net income of $40.8 million.
The retailer also authorized a new 5-million-share buyback program.
The Finish Line’s earnings in the fourth quarter fell 5% to $40.8 million.
Consolidated net sales for the quarter were $551.3 million, an increase of 6.3% over the prior year period. Same-store sales increased 2.6%.
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Target to expand solar deployments to 180 stores and DCs
Middletown, Conn. -- Target Corp. is expanding its deployment of solar energy. The retailer has signed a power-purchase agreement with Greenskies Renewable Energy LLC that calls for supplier to install solar arrays on the roofs of 180 Target stores and distribution centers across the United States from Augusta, Maine, to San Diego.