Five Below (NASDAQ:FIVE) Inc shares could trend higher after the specialty discount retailer targeting tweens and teens releases its second-quarter 2023 financial results after market close on Wednesday, August 30, 2023.
The company’s revenue for the period is expected to rise 13.6% year over year to $760.2 million, while its 2Q earnings per share is anticipated to improve 12.2% to $0.83, according to the Zacks Consensus Estimate.
Zacks believes Five Below's emphasis on offering current and in-demand products, enhancing supply-chain efficiency, bolstering digital infrastructure and expanding physical store presence will help boost both its top and bottom-line results, while adding that the company has seen “a nice streak” of beating earnings estimates.
During 1Q 2023, the company delivered mixed financial results as its revenue missed expectations while beating on the bottom line.
At the time, Five Below cited an improved transaction trend and broad-based sales performance as the company opened 27 new stores.
Five Below plans to open about 200 new stores in fiscal 2023 and convert over 400 stores to the new Five Beyond format, which could allow the company to lift its full-year guidance.
Shares of Five Below rose 1.7% to $182.26 in late-afternoon trading on Tuesday and have gained 6% year to date.
Contact Sean at sean@proactiveinvestors.com