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Five Below Shares Slide On Mixed Q2 Results

Five Below Shares Slide On Mixed Q2 Results
  • Five Below Inc (NASDAQ: FIVEreported second-quarter FY21 sales growth of 51.7% year-on-year, to $646.55 million and 54.9% against Q2 FY19, marginally missing the analyst consensus of $646.93 million.
  • Comparable sales increased 39.2% versus last year and 21% versus Q2 FY19.
  • The total number of stores in the quarter increased 14.2% Y/Y.
  • Gross profit rose 64.7% Y/Y to $230.3 million with a profit margin of 35.6%
  • The operating margin was 13.3%, and operating income for the quarter rose 160.4% Y/Y to $86.2 million. Operating income increased 139% versus Q2 2019.
  • The company held $126.2 million in cash and equivalents as of July 31, 2021.
  • Cash provided by operating activities for the six months totaled $148.8 million.
  • EPS of $1.15 beat the analyst consensus of $1.11.
  • "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 CEO Joel Anderson.
  • Outlook: Five Below sees Q3 sales of $550 million - $565 million versus the consensus of $550.25 million.
  • The company expects Q3 EPS of $0.23 - $0.30 versus the consensus of $0.27.
  • Price Action: FIVE shares are trading lower by 8.45% at $197.80 in premarket on the last check Thursday.

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