Five Below Reports 9.5% Increase In Total Sales For 10-Week Period Ended July 13, 2024, But Comparable Sales Decreased By 5%; Expects Fiscal Q2 Sales Between $820M And $826M, With A 6%-7% Decrease In Comparable Sales; Diluted EPS Forecasted Between $0.53 And $0.56; To Announce Q2 Results And Discuss Q3 And Full Year Outlook When Reporting Earnings
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Five Below reported a 9.5% increase in total sales for the 10-week period ended July 13, 2024, but experienced a 5% decrease in comparable sales. The company expects fiscal Q2 sales between $820M and $826M, with a 6%-7% decrease in comparable sales, and forecasts diluted EPS between $0.53 and $0.56. Five Below will announce Q2 results and discuss Q3 and full-year outlook when reporting earnings.
July 16, 2024 | 8:02 pm
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Five Below reported a 9.5% increase in total sales for the 10-week period ended July 13, 2024, but experienced a 5% decrease in comparable sales. The company expects fiscal Q2 sales between $820M and $826M, with a 6%-7% decrease in comparable sales, and forecasts diluted EPS between $0.53 and $0.56.
While the total sales increase is positive, the decrease in comparable sales and the forecasted decline in Q2 comparable sales may concern investors. The EPS forecast is modest, suggesting mixed short-term impacts on the stock price.
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