Five Below (NASDAQ:FIVE) shares rose almost 1% in extended trading Wednesday on earnings results that surpassed expectations.
The discount retailer posted earnings of $0.26 per share, above Street projections of $0.23 per share, on revenue of $736.4 million, topping expectations of $726.9 million.
“We exceeded our guidance for sales, comparable sales and EPS, as our value offering resonated with customers and we effectively capitalized on multiple trends,” CEO Joel Anderson said in a statement.
Five Below (NASDAQ:FIVE) also opened 74 new stores during the period, increasing its store count almost 15% year over year to 1,481 locations in 43 states.
For the current quarter, Five Below (NASDAQ:FIVE) expects revenue between $1.32 billion and $1.35 billion. For the year, the company guided for earnings between $5.40 and $5.56 per share on revenue of $3.54 billion to $3.57 billion.
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