Breaking News
Nov 30, 2023
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Five Below was nearly unchanged at $188.0 after the deep discount retailer reported its third-quarter results.
Revenue in the third quarter increased 14.2% to $736.4 million from $645.0 million, and comparable store sales rose 2.5% from a year ago.
Net income in the quarter declined to $14.6 million from $16.1 million, and diluted earnings per share fell to 26 cents from 29 cents a year ago.
The company repurchased 500,000 shares in the third quarter at a cost of $80 million.
The company estimated net sales in the fourth quarter to be in the range of $1.32 billion to $1.35 billion, including an additional 60 stores, based on a 2% to 3% rise in comparable store sales.
Net income in the fourth quarter is estimated to be in the range of $201 million and $211 million.
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