Finish Line shares drop amid concern about margins

Finish Line shares dropped 25.8 percent to $7.74 Tuesday after the retailer forecast weak second-quarter results and cut its forecasts for the rest of the year.

September 3, 2017 at 3:45AM
Warren and Denee Wehr walk to their flooded home in Smithville, Texas, Sunday, Aug. 27, 2017. Harvey made landfall in Texas on Friday night as the strongest hurricane to hit the U.S. in more than a decade. By Saturday afternoon it had been downgraded into a tropical storm, but it had dumped over a dozen inches of rain on some areas and forecasters were warning that it could cause catastrophic flooding in the coming days. (Jay Janner/Austin American-Statesman via AP)
Insurance companies are bracing for the impact of widespread flooding from Hurricane Harvey. (The Minnesota Star Tribune)

Blow the whistle: Finish Line shares dropped 25.8 percent to $7.74 Tuesday after the retailer forecast weak second-quarter results and cut its forecasts for the rest of the year. It said discounts on shoes are growing, which is hurting its profit margins. Shares closed the week at $8.89.

Booked his departure: Expedia slumped 4.3 percent to $142.89 Monday after reports that Dara Khosrowshahi, the travel booking site's CEO, was named as the new CEO of ride-hailing app Uber. Expedia shares closed the week at $148.23.

Insurance woes: Insurance companies declined Monday as investors worried that flooding from Harvey will lead to big losses. Travelers slumped 2.9 percent, to $122.97, finishing the week at $119.90. Progressive shed 2.8 percent, to $47.06, closing Friday at $45.66.

Flying high: Drone maker AeroVironment rose 17.4 percent to $46.19 Wednesday after the company said product sales almost doubled in the fiscal first quarter. Shares closed the week at $49.15.

Good fit: Footwear retailer Shoe Carnival increased 22.7 percent to $20.14 Thursday after it posted a bigger profit and better sales than analysts expected. Shares closed the week at $19.15.

Feeling fit: Clothing company Lululemon climbed 7.2 percent to $61.69 Friday after its second-quarter results were better than analysts expected. Its profit and revenue forecasts suggest the athletic-inspired apparel maker may not be feeling the woes that have affected other sporting goods companies recently.

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