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Five Below Inc (NASDAQ:FIVE) is trading lower Thursday after the company announced mixed second-quarter financial results and refrained from providing full-year guidance because of uncertainty.
Five Below reported quarterly earnings of $1.15 per share, which beat the estimate of $1.11 per share. The company reported quarterly revenue of $646.6 million, which came in below the estimate of $646.93 million.
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Five Below expects third-quarter earnings to be in a range of 23 cents per share to 30 cents per share versus the estimate of 27 cents per share. The company expects third-quarter revenue to be in a range of $550 million to $565 million versus the estimate of $550.25 million.
Five Below refrained from providing full-year guidance "given the uncertainty related to COVID-19, potential future shifts in consumer spending, and ongoing global supply chain disruption."
“The third quarter is off to a strong start from a sales perspective. We are innovating across our three key strategic priorities: product, experience and supply chain, where the teams are working diligently to mitigate the impact of global disruptions," said Joel Anderson, president and CEO of Five Below.
FIVE Price Action: Five Below has traded as high as $237.83 and as low as $108.51 over a 52-week period.
The stock was down 8.29% at $198.15 at time of publication.
Photo by Mike Mozart from Flickr.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.