8:08 am Five Below Getting Clipped on Disappointing Q2 Sales and Q3 Outlook
Specialty retailer Five Below (FIVE 38.01) is indicated to open approximately 10% below yesterday's closing price after the company disappointed investors with its second quarter results and third quarter outlook.
Net sales for the 13-week period ended August 1 rose 19.5% to $182.2 million. That was at the low end of the company's guidance range and came up short of analysts' average expectation. Comparable store sales, meanwhile, increased 3.0%. While that marked the 37th straight quarter of …More