Five Below Stock Climbs After Q2 Results: EPS In-Line, Sales Beat
Portfolio Pulse from Erica Kollmann
Five Below, Inc. (NASDAQ:FIVE) reported Q2 earnings in line with expectations and sales that beat estimates. Despite a 9.4% increase in net sales, comparable sales decreased by 5.7%. The company opened 62 new stores, increasing its total by 18.5% year-over-year. Five Below adjusted its fiscal year outlook downward, but shares rose 5.42% after-hours.
August 28, 2024 | 9:01 pm
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Five Below reported Q2 earnings in line with expectations and sales that beat estimates. Despite a 9.4% increase in net sales, comparable sales decreased by 5.7%. The company opened 62 new stores, increasing its total by 18.5% year-over-year. Five Below adjusted its fiscal year outlook downward, but shares rose 5.42% after-hours.
Five Below's Q2 results showed a positive sales beat, which is a good sign for investors, leading to a 5.42% increase in after-hours trading. However, the decrease in comparable sales and the downward revision of the fiscal year outlook could be concerning. The market's positive reaction suggests that the sales beat and store expansion were more influential in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100