Five Below FIVE reported a 44% drop in its fiscal second-quarter profit.
Five Below's quarterly profit fell to $1.25 million, from $2.21 million, in the year-ago period. On a per-share basis, the company posted a loss of $3.41, versus a year-earlier loss of $0.10. Excluding items, Five Below earned $0.04 per share.
Its sales surged 40% to $86.8 million. However, analysts were expecting a profit of $0.01 per share on sales of $82 million.
Its gross margin rose to 33.1% from 32.3%, while same-store sales climbed 8.6%.
For the year, the company projects adjusted earnings of $0.45 to $0.47 per share on sales of $402 million to $407 million. However, analysts were expecting earnings of $0.44 per share on revenue of $399 million.
Five Below shares dropped 5.89% to $32.75 in after-hours trading.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in