The chain will open between 20 and 25 Finish Line stores and 15 to 20 new Man Alive units. But other than two Paiva units scheduled to open late February or early March (the company's fourth quarter of 2007), Paiva's expansion is complete as the company evaluates its women's athletic wear specialty division. The company will have 14 Paiva units, located in malls and lifestyle centers, at the end of the fiscal year.
"We now have Paiva stores in all sections of the United States," said Alan H. Cohen, chairman and CEO of Finish Line. "This gives us an opportunity to learn about the malls and locations as we continue to refine the concept."
Expansion of Finish Line and Man Alive is complete for fiscal 2007, with the company opening 41 Finish Lines and 37 Man Alive units during the year. In all, Finish Line operates 692 Finish Line stores in 47 states, 88 Man Alive stores in 16 states and 14 Paiva stores in 10 states and online.
The company's consolidated net sales for the quarter were $281.5 million, up 2.7% from the previous year. Consolidated comparable-store sales dropped 3.3% for the quarter, with Finish Line's comps declining 3.5% and Man Alive's rising 3.1%.
The chain posted a net loss of $3 million for the thirteen weeks ended Nov. 25, versus net income of $845,000 for the same quarter last year.
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