Five Below falls on downbeat forecasts, Q1 results

Five Below

05/06/2024 21:31

** Shares of discount store operator Five Below  FIVE.O 
slump nearly 17% at $110 in after-hours trading
    ** Forecasts Q2 net sales below analysts' estimates and cuts
FY2024 net sales outlook
    ** Sees Q2 net sales in the range of $830 mln-$850 mln,
below estimates of $882.8 mln, per LSEG data
    ** Lowers 2024 net sales forecast to between $3.79 bln and
$3.87 bln, from $3.97 bln and $4.07 bln earlier
    ** Co sees FY adj. EPS between $5-$5.40, below estimates of
$6
    ** FIVE posts Q1 net sales of $811.9 mln, below estimate of
$833.9 mln; adj. EPS of 60 cents, missing estimate of 63 cents
    ** Stock has fallen 37.8% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))