Why Five Below Shares Are Up 5% Today

Five Below Inc FIVE shares are trading higher Monday after the company announced quarter-to-date holiday sales.

What Happened: Five Below said it expects fourth quarter and full-year 2022 results to come in near the high end of its previously provided guidance ranges. Five Below previously guided for fourth-quarter net sales to be in a range of $1.085 billion to $1.11 billion. The company previously guided for diluted income of $2.93 to $3.09 per common share.

"We are pleased with our holiday performance, with results in the upper end of our fourth quarter sales guidance range," said Joel Anderson, president and CEO of Five Below.

"We are entering fiscal year 2023 with momentum and excited to be executing our Triple-Double strategy, including opening 200+ new stores for the first time in our history and converting over 400 stores to the new Five Beyond format."

Five Below said it will further discuss its full-year results and outlook for fiscal 2023 when it reports earnings in March. Five Below is a high-growth value retailer.

See Also: Why Macy's Stock Is Moving Lower Monday

FIVE Price Action: Five Below has a 52-week high of $194.42 and a 52-week low of $109.49.

The stock was up 5.39% at $186.63 at time of publication, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.