Five Below: Fiscal 3Q Earnings Snapshot
PHILADELPHIA (AP) _ Five Below Inc. (FIVE) on Wednesday reported fiscal third-quarter net income of $13.5 million.
The Philadelphia-based company said it had net income of 24 cents per share. Earnings, adjusted for non-recurring gains, came to 22 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The discount retailer posted revenue of $312.8 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $303.5 million.
For the current quarter ending in January, Five Below said it expects revenue in the range of $593 million to $600 million. Analysts surveyed by Zacks had expected revenue of $592.5 million.
The company expects full-year earnings to be $2.60 to $2.64 per share, with revenue ranging from $1.55 billion to $1.56 billion.
Five Below shares have increased 58 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $104.58, an increase of 63 percent in the last 12 months.