PHILADELPHIA (AP) _ Five Below Inc. (FIVE) on Tuesday reported a fiscal first-quarter loss of $50.6 million, after reporting a profit in the same period a year earlier.
The Philadelphia-based company said it had a loss of 91 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The discount retailer posted revenue of $200.9 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $225.6 million.
Five Below shares have declined 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $103.82, a drop of 20% in the last 12 months.