Five Below Reports Q1 Profit; Lifts Full-Year Outlook

Retailer Five Below FIVE released its fiscal first-quarter earnings results after the closing bell on Wednesday. The company's earnings and revenue came in above Wall Street consensus estimates and the stock was up slightly in late trade. Five Below also raised its full-year earnings and revenue outlook above its previous range.

For Q1, the company reported net income of $1.5 million or $0.03 per share, compared to a net loss of $5.3 million or $0.32 per share, in last year's corresponding period.

On an adjusted basis, Five Below reported net income of $2.5 million or $0.05 per share, versus income of $2.6 million or $0.05 per share, last year. This topped Wall Street consensus EPS estimates of $0.04 by a penny.

Sales in the quarter rose 33.1 percent to $95.60 million from $71.83 million a year ago. This also came in ahead of analysts' consensus revenue estimates of $94.23 million.

Same-store sales in the fiscal first-quarter rose 4.2 percent.

Looking ahead to Q2, Five Below guided for adjusted earnings per share of $0.08 to $0.09 on revenue of $112 million to $114 million. This compares to current consensus estimates calling for earnings of $0.08 per share on revenue of $109.92 million.

For fiscal 2013, the retailer lifted its outlook for adjusted earnings to a range of $0.65 to $0.68 per share on revenue of $524 million to $529 million. Analysts are currently modeling EPS of $0.67 on sales of $530.71 million for fiscal 2013 so Five Below's revenue outlook is still below expectations.

Previously, the company had guided for adjusted EPS of $0.62 to $0.65 on net sales of $516 million to $521 million for fiscal 2013.