Five Below, Inc. (FIVE)
Five Below bought so many Squishmallows that it hurt the discount company's bottom line
Five Below's sales were hurt due to overstock of Squishmallows and price-sensitive customers. Inflation has made customers prioritize food and drink items, said Five Below CEO.
Five Below: Comparable Sales Slip as Consumers Feel Inflation's Impact
A pullback in spending by lower-income consumers led to a decline in comparable sales during the first quarter for Five Below. The value retailer's comparable sales decreased 2.3% during the quarter ended May 4, compared to the same period a year earlier, Five Below said in a Wednesday (June 5) earnings release.
Five Below, Inc. (FIVE) Q1 2024 Earnings Call Transcript
Five Below, Inc. (NASDAQ:FIVE ) Q1 2024 Earnings Conference Call June 5, 2024 4:30 PM ET Company Participants Christiane Pelz - VP, IR Joel Anderson - President and CEO Kristy Chipman - CFO and Treasurer Conference Call Participants Simeon Gutman - Morgan Stanley Seth Sigman - Barclays Kelly Crago - Citigroup Matthew Boss - JPMorgan Scot Ciccarelli - Truist John Heinbockel - Guggenheim Mike Lasser - UBS Edward Kelly - Wells Fargo Eric Cohen - Gordon Haskett David Bellinger - Mizuho Kate McShane - Goldman Sachs Brad Thomas - KeyBanc Capital Markets Michael Montani - Evercore ISI Joe Feldman - Telsey Advisory Group CJ Dipollino - Craig-Hallum Capital Group William Dossett - Oppenheimer Operator Good day and welcome to the Five Below First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.
Five Below (FIVE) Q1 Earnings and Revenues Miss Estimates
Five Below (FIVE) came out with quarterly earnings of $0.60 per share, missing the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.67 per share a year ago.
Five Below stock tumbles on sales outlook, as inflation hits low-income shoppers
Shares of Five Below Inc. FIVE, -3.68% slid after hours on Wednesday after the teen-centric discount retailer cut its full-year sales forecast, citing weaker spending among its lower-income shoppers, who have been hit harder by inflation. The company said it expected full-year revenue of $3.79 billion to $3.87 billion, with a potential 3% to 5% drop in same-store sales.
Assessing Five Below (FIVE) Ahead of Q1 Earnings Release
Five Below's (FIVE) focus on providing trend-right products, strengthening digital capabilities and increasing the penetration of Five Beyond products is likely to have contributed to the Q1 top line.
Five Below: Short-Term Weakness Bodes Well For Long-Term Investors
Shares of Five Below have declined by 37% in the last two months, presenting a buying opportunity for long-term investors. The company has a strong balance sheet, clear growth potential, and a target demographic that is less sensitive to economic pressure. Five Below's business model has shown consistent growth, and its growth potential is supported by its ability to self-fund expansion without debt.
Earnings Preview: Five Below (FIVE) Q1 Earnings Expected to Decline
Five Below (FIVE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
