Online pet store Chewy (CHWY) falls short of first-quarter sales guidance while topping fourth-quarter revenue estimates.
Discount retailer Five Below (FIVE) shares tumble after missing fourth-quarter earnings estimates and forward guidance expectations.
Lastly, KB Home (KBH) raises its full-year revenue outlook after topping first-quarter estimates.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
JULIE HYMAN: We're watching Chewy shares, they are seeing a-- actually, no, now they're lower after total net sales topped Wall Street estimates for the fourth quarter. The company also delivered better-than-expected sales per active customer, rising nearly 12% year-over-year. Adjusted EBITDA did surpass analyst expectations, but Chewy said it does expect to deliver continued adjusted EBITDA margin expansion this year. The company did report lackluster net sales guidance for the first quarter.
We're also watching shares of Five Below. They are down by 13% after missing earnings estimates. The retailer also delivered lower than expected guidance for the first quarter. CEO Joel Anderson saying sales performance was offset by higher than anticipated shrink headwinds, which, as we know, comes from things like theft. That resulted in earnings at the low end of the company's guidance range.
And KB Home reporting a beat on earnings for the first quarter as well as forecasting higher-than-expected revenue outlook. The shares up about 2/3 of a percent. Deliveries up nearly 9% last-- year-over-year with housing revenues up around 6% to about 1 and 1/2 billion. CEO Jeffrey Mezger told investors that conditions have improved heading into 2024, and they plan to buy back more stock.
