Finish Line Q4 sales down 6 percent
Finish Line (Nasdaq: FINL) said its fourth-quarter same-store sales fell 6 percent, versus a 5.4 percent decline in the year-ago period.
The company's Finish Line stores reported a 5.4 percent decline in the quarter ended March 1, while Man Alive same-store sales dropped 14.2 percent.
Total sales for the quarter fell 10 percent to $382.8 million from $425.7 million in the prior-year quarter.
For the full year, Finish Line said same-store sales dropped 4.7 percent, while total sales from continuing operations slipped 4 percent to $1.28 billion from $1.33 billion.
Iconix CEO exercises options
Neil Cole, CEO of Iconix Brand Group (Nasdaq: ICON), exercised options for 253,749 shares and sold 206,500 shares, according to Securities and Exchange Commission filings. Iconix is the parent of Danskin Fitness.
In Form 4s filed with the SEC, Cole reported he exercised options at $3.50 apiece and sold the shares for $19.50 apiece to $20.39 apiece March 5-7.
Cole also surrendered 17,994 shares at $19.43 apiece. Insiders surrender shares back to the company to pay taxes or cover the cost of an option exercise.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Wal-Mart same-store sales rise in February
Wal-Mart Stores' (NYSE: WMT) same-store sales rose 3 percent in February, helped by sales of gas, food and flat-panel TVs. Same-store sales for the four weeks ended Feb. 29 rose 2.6 percent excluding fuel.
Wal-Mart Stores same-store sales rose 2.5 percent, while Sam's Club same-store sales rose 5.2 percent, or 2.8 percent excluding fuel.
Total sales rose 9 percent to $29.19 billion, from $26.79 billion last year.
The company expects same-store sales in March to be between flat and up 2 percent.
The company is raising its annual dividend 8 percent. It will pay an annual dividend of $0.95, up from a previous dividend of $0.88. For the fiscal year ending Jan. 31, 2009, it will pay four quarterly installments of nearly $0.24 per share. The first quarterly dividend is payable April 7 to shareholders of record as of March 14.
Costco reports February sales
Costco (Nasdaq: COST) said February net sales of $5.11 billion for the four weeks ended March 2, 2008, an increase of 11 percent from $4.59 billion in the same four-week period of the prior fiscal year. Same-store sales for the four weeks were up 7 percent.
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