Finish Line reports smaller Q4 loss

Indianapolis Finish Line reported a much smaller fiscal fourth-quarter loss Friday, helped by its decision to back out of its proposed Genesco acquisition.

A year ago, the sporting-goods retailer decided to pull out of its proposed $1.5 billion bid for Nashville, Tenn.-based Genesco. The decision weighed heavily on year-ago results in the form of $81.4 million in costs related to a settlement.

Finish Line still lost $1.4 million for the period ended Feb. 28, but that compares with a much bigger loss of $39.2 million a year earlier.

Excluding impairment charges and other items, income from continuing operations was $19.6 million.

Fourth-quarter sales declined to $364.1 million, off 5% from $382.8 million in the prior-year period. The company saw same-store sales fall 3.9%.

Finish Line earned $3.8 million for the full year. The results were well above the previous year, when the company posted a loss of $60.8 million.