Five Below Inc. Drops On Slower Q2 Sales Comps

Five Below Inc. (NASDAQ: FIVE) fell sharply in the after-hours session Wednesday after the company revealed a slowing growth-rate of same-store sales.The Philadelphia-based retailer that targets teens and pre-teens said second-quarter comparable sales grew by 3.2 percent. During the first quarter, same-store sales increased 6.3 percent.Five Below also offered a third-quarter estimate that missed Wall Street's expectations. The company expects $0.05 to $0.06 a share in earnings on sales of $136 million to $138 million. Analysts forecast $0.07 a share on sales of $136.95 million.In the recent period net income grew to $8.3 million or $0.15 cents a share, from $4.1 million or $0.07 cents a year earlier. Adjusted income was $0.15 cents a share, while sales increased by 30.2% to $152.5 million from $117.1 million.Analysts expected $0.14 cents a share on sales of $152.24.In after-hours trading Five Below traded recently at $40.25 a share, down nearly 5 percent.