Five Below Cuts FY24 Net Sales Outlook From $3.79B - $3.87B To $3.73B - $3.80B (Est $3.78B); Adjusted EPS From $5.00 - $5.40 To $4.35 - $4.71 (Est $4.69)
Portfolio Pulse from Benzinga Newsdesk
Five Below has revised its FY24 net sales outlook downwards from $3.79B-$3.87B to $3.73B-$3.80B, and adjusted EPS from $5.00-$5.40 to $4.35-$4.71. This revision is based on opening 230 new stores and a 4%-5.5% decrease in comparable sales.
August 28, 2024 | 8:10 pm
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Five Below has reduced its FY24 net sales and adjusted EPS outlook, indicating potential challenges in sales performance despite plans to open 230 new stores.
The downward revision in both net sales and EPS suggests that Five Below is facing challenges in its sales performance, which could negatively impact investor sentiment and the stock price in the short term. The planned opening of 230 new stores indicates an attempt to boost sales, but the expected decrease in comparable sales highlights underlying issues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100