Five Below Inc (NASDAQ:FIVE) shares are trading lower in Wednesday's after-hours session after the company reported mixed financial results and issued guidance below analyst estimates.
Five Below said fiscal first-quarter revenue increased 7% year-over-year to $639.6 million, which missed the estimate of $652.74 million, according to data from Benzinga Pro. The company reported quarterly earnings of 59 cents per share, which beat the estimate of 58 cents per share.
"While first quarter sales were softer than expected, disciplined cost management enabled us to deliver against our earnings outlook," said Joel Anderson, president and CEO of Five Below.
"With that said, as we look to the balance of the year, we expect the macro environment to remain challenging," Anderson added.
Five Below expects fiscal second-quarter revenue to be between $675 million and $695 million versus the estimate of $729.47 million. The company expects second-quarter earnings to be between 74 cents and 86 cents per share versus the estimate of $1.20 per share.
Five below said it expects full-year revenue to be between $3.04 billion and $3.12 billion. Full-year earnings are expected to be between $4.85 and $5.24 per share.
FIVE Price Action: Five Below shares have traded between $237.86 and $110.83 over a 52-week period.
The stock was down 5.78% in after hours at $127.54 at press time.
Photo: courtesy of Five Below.
