Five Below, Inc. FIVE reported better-than-expected results for its third quarter and issued strong guidance for fiscal 2024 on Wednesday.
Shares of Five Below (FIVE) are soaring more than 13% in premarket trading after the discount retailer announced a new CEO and raised its outlook for the year, noting "solid" Black Friday sales.
Shares of Five Below (FIVE 1.72%) have been moving higher in recent weeks. A "beat and raise" quarterly update on Wednesday afternoon and tapping a new CEO should keep gains coming.
Five Below, Inc. (NASDAQ:FIVE ) Q3 2024 Earnings Conference Call December 4, 2024 4:30 PM ET Company Participants Christiane Pelz - VP, IR Tom Vellios - Executive Chairman and Founder Ken Bull - Interim President, CEO and COO Kristy Chipman - CFO and Treasurer Conference Call Participants John Heinbockel - Guggenheim Chuck Grom - Gordon Haskett Jeremy Hamblin - Craig-Hallum Capital Group Karen Short - Melius Research Michael Lasser - UBS Scot Ciccarelli - Truist Edward Kelly - Wells Fargo Matthew Boss - JPMorgan Seth Sigman - Barclays Kate McShane - Goldman Sachs Brian Nagel - Oppenheimer Michael Montani - Evercore ISI Simeon Gutman - Morgan Stanley Operator Good day and welcome to the Five Below Third Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.
Five Below (FIVE) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.26 per share a year ago.
Shares of Five Below Inc. jumped after hours Wednesday after the teen-centric discount chain raised its full-year outlook, citing an “encouraging” Black Friday weekend as it heads into final weeks of the holiday shopping season.
FIVE indicates its focus on strategy realignment and SKU reductions in the third quarter, aiming to streamline operations, margin improvements and enhance profitability.
Five Below (FIVE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Five Below Inc FIVE and other discount retailers were benefited by the Federal Reserve's interest rate cut in October.
Five Below (FIVE) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Since 2019, many voters saw their incomes slip further behind the increase in prices of goods and services. The candidate they elected, Donald Trump, plans to impose tariffs that could accelerate some prices and squeeze the stock prices of some many retailers.
FIVE and other retail companies that import a lot of foreign products with a focus on China slide after Trump???s historic election win.