Specialty retailer The Finish Line Inc today (6 September), said it expects to swing to a second quarter loss on charges associated with the closure of its 15 Paiva stores.

Loss per diluted share is likely to be in the range of $.04 to $.06, compared to a profit per diluted share of $.21 reported in the same period last year.

Included in the quarterly loss is a pre-tax charge of approximately $14m ($.18 per diluted share) for costs related to the closure of its Paiva upscale women's shoe and athletic wear chain just 16 months after its launch. The closure was announced at the end of last month.

The company also said its same-store sales fell 4.7% for the 13 weeks to 1 September, with Finish Line same-store net sales falling 4.8% and those at Man Alive dropping 2.4% compared to the same period last year.

Net sales rose 1.3% to $343.0m year-on-year from $338.6m.

Finish Line has agreed to acquire clothing and hat retailer Genesco for $1.5bn, but last week said it is reconsidering its options after Genesco posted poor second-quarter results.