Five Below Reports Big Q3 Earnings Beat
Five Below (NASDAQ: FIVE) reported quarterly earnings of 36 cents per share on Wednesday, which beat the analyst consensus estimate of 20 cents by 80%. This is a 100% increase over earnings of 18 cents per share from the same period last year.
The company reported quarterly sales of $476.60 million, which beat the analyst consensus estimate of $446.01 million by 6.86%. This is a 26.27% increase over sales of $377.44 million the same period last year.
"Our third-quarter results surpassed our expectations as customers responded very positively to our extreme value, trend-right offering,” said Joel Anderson, CEO of Five Below.
"In this high volume fourth-quarter, we are focused on providing a safe and efficient shopping experience. In addition to several changes we made in store, such as adding expanded checkout capabilities, we are now offering a same-day delivery option for about 300 stores,” adds Anderson.
Five Below shares were trading up 4.13% at $162.51 in Wednesday’s after-hours session. The stock has a 52-week high of $163.42 and a 52-week low of $47.53.
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