Five Below Tops 2Q Profit Expectations

Associated Press

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

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

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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.

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.