Five Below Tops 2Q Profit Expectations

Features Associated Press

Five Below Inc. (FIVE) on Wednesday reported profit of $8.3 million in its fiscal second quarter.

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The Philadelphia-based company said it had profit of 15 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The discount retailer posted revenue of $152.5 million in the period, which did not hit Street forecasts. Analysts expected $152.6 million, according to Zacks.

For the current quarter ending in October, Five Below said it expects revenue in the range of $136 million to $138 million. Analysts surveyed by Zacks had expected revenue of $136.6 million.

The company expects full-year earnings in the range of 87 cents to 90 cents per share, with revenue ranging from $681 million to $687 million.

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Five Below shares have declined 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.35, a fall of 12 percent in the last 12 months.