Five Below surges after raising FY sales, profit forecasts

Five Below

04/12/2024 22:10

** Shares of discount store operator Five Below  FIVE.O 
surge ~11% to $116.49 after the bell 
    ** Co raises FY24 sales forecast to between $3.84 bln and
$3.87 bln vs its prior expectation of $3.73 bln to $3.80 bln 
    ** FIVE now expects FY adjusted profit in the range of $265
mln to $275 mln, compared with $241 mln to $261 mln earlier 
    ** Co's net sales jump 14.6% to $843.7 million in Q3 
    ** FIVE says it opened 82 new stores and ended the quarter
with 1,749 stores in 44 states 
    ** Co posts Q3 adjusted profit of 42 cents per share vs 26
cents per share a year earlier   
    ** As of last close, stock down 50.8% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))