Five Below Inc (NASDAQ: FIVE) reported third-quarter financial results after the market close on Wednesday. Here are the key details of the print.
Q3 Highlights: Five Below reported third-quarter revenue of $1.04 billion, beating annual estimates of $983.07 million. Benzinga Pro. The retailer posted adjusted earnings of 68 cents per share, easily beating expectations of 24 cents per share.
Net sales grew strongly in the quarter, up 23.1% year-over-year, while comparable sales grew 14.3%. Five Below said it opened 49 net new stores and ended the quarter with a total of 1,907 stores.
“We are pleased to report third quarter results that exceeded our expectations, marking our second consecutive quarter of more than $1 billion in revenue and robust double-digit same-store sales growth,” said Winnie ParkCEO of Five Below.
“This outstanding performance reflects our Crew’s great execution of our customer-centric strategy: delivering on-trend merchandise at an exceptional value, connecting with our customers through compelling marketing campaigns and creating great shopping experiences that truly resonate.”
Five Below expected fourth-quarter revenue of $1.58 billion to $1.61 billion, and adjusted earnings of $3.36 to $3.54 per share. Analysts expect revenue to be $1.56 billion and adjusted earnings per share to be $3.10.
The company raised its full-year revenue guidance from $4.44 billion to $4.52 billion to a new range of $4.63 billion to $4.65 billion, compared to estimates of 4.57 billion. Five Below also raised its full-year adjusted earnings outlook from $4.76 to $5.16 per share to an updated range of $5.71 to $5.89 per share, compared to estimates of $5.18 per share.
The company noted that its outlook takes into account the expected impact of the tariffs currently in effect.
“As we enter the holiday season, we are well positioned to delight our customers with unique gifts and stocking stuffers at an incredible value in a fun shopping environment,” Park added.
Five Below’s management team is currently discussing the quarter during an earnings call that began at 4:30 PM ET.
FIVE Price Promotion: Five stocks below rose 3.86% after the close to trade at $169.44 at the time of publication Benzinga Pro. The stock crossed a 52-week high of $168.98 in extended trading.
Read next:
Image: Shutterstock.com
#Among #Stocks #Rise #Quarter #Earnings #Among #Stocks #NASDAQFIVE