Indianapolis The Finish Line Inc. reported a third-quarter loss of nearly $16 million after being hurt by a sales decline and costs related to its disputed $1.5 billion acquisition of larger rival Genesco Inc.
Finish Line’s net loss for the quarter ended Dec. 1 totaled $15.9 million compared to a loss of $3 million for the same quarter in 2006. Revenue fell 4% to $268.7 million from $280 million last year.
Last month, the athletic footwear and apparel retailer reported that its same-store sales dropped 3.6% in the third quarter. This was Finish Line's third straight quarterly loss.