Five Below Drops 6% As Forecasts Disappoint

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Five Below Drops 6% As Forecasts Disappoint

Seeking Alpha2023-08-31

Five Below (NASDAQ:FIVE) fell nearly 6% on Wednesday after the close amid a worse-than-expected outlook.For the third quarter, net sales are expected to be in the range of $715M to $730M compared to ...

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Diluted income per common share is forecast between $5.27 to $5.55 compared to the expected $5.58.“As we look to the second half of the year, our merchants have sourced a terrific line-up of fresh, trend-right product at outstanding value for the holiday season,” Chief Executive Officer Joel Anderson said in a statement.“While we are adjusting our earnings guidance to reflect an anticipated increase in shrink reserves, our sales outlook remains unchanged.”For the second quarter GAAP EPS of $0.84 beat the average earnings estimate by $0.01, while revenue of $759M missed by $1.05M.Shares are up 41% over the past 12 months.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}