Shares plummeted around 11% Thursday, hitting a new 52-week low during the trading session. The retailer is down more than 45% in 2024. "Consumers were more discerning with their dollars, increasingly buying to need," Anderson added. The types of products they've been purchasing reflect this, he added, noting that consumers bought more in the company's "consumable" categories like candy, food and beverage, beauty and health and beauty aids. The CEO also noted that Five Beyond – the company's in-store shop t ...

Key Takeaways Five Below missed quarterly earnings and revenue estimates and cut its outlook as inflation led its lowerincome customers to pull back on spending. The discount retailer's comparable store sales declined 2.3% year-over-year. Five Below now anticipates full-year comparable store sales will be down 3% to 5%. Shares of Five Below (FIVE) plunged Thursday, a day after the discount retailer posted worse-than-expected quarterly results and lowered its guidance as inflation hurt its low-income custome ...

The Zacks Consensus Estimate for Canada Goose's current fiscal-year earnings indicates growth of 13.7% from the year-ago period's reported figures. GOOS has a trailing four-quarter average earnings surprise of 70.9%. Five Below, Inc. (FIVE) reported first-quarter fiscal 2024 results, wherein the top and bottom lines missed the Zacks Consensus Estimate. However, net sales increased and earnings decreased on a year-over-year basis. The company remains focused on driving sales through pricing tests, marketing ...

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A pullback in spending by lower-income consumers led to a decline in comparable sales during the first quarter for Five Below. The value retailer's comparable sales decreased 2.3% during the quarter ended May 4, compared to the same period a year earlier, Five Below said in a Wednesday (June 5) earnings release. At the same time, the firm's net sales rose 11.8% year over year because it opened 61 new stores during the quarter, contributing to a 17.4% increase in the number of locations over the same quarter ...

Five Below (FIVE) came out with quarterly earnings of $0.60 per share, missing the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of -3.23%. A quarter ago, it was expected that this discount retailer would post earnings of $3.78 per share when it actually produced earnings of $3.65, delivering a surprise of -3.44%. Over the last four quarters, the ...

Financial Performance - Q1 net sales increased by 11.8% to $811.9 million compared to $726.2 million in Q1 fiscal 2023; comparable sales decreased by 2.3%[5] - Operating income was $36.2 million, down from $42.4 million in Q1 fiscal 2023; adjusted operating income would have been $38.2 million excluding a $2.0 million non-recurring expense[5] - Net income for Q1 was $31.5 million, compared to $37.5 million in Q1 fiscal 2023; adjusted net income would have been $33.0 million excluding the non-recurring expense[5] - Diluted EPS was $0.57, down from $0.67 in Q1 fiscal 2023; adjusted diluted EPS would have been $0.60 excluding the non-recurring expense[5] - Operating income decreased to $36,150,000, down 14.5% from $42,412,000 in the prior year[19] - Net income for the period was $31,467,000, a decline of 16.0% from $37,478,000 year-over-year[19] - Basic and diluted income per common share both decreased to $0.57, down from $0.67 in the same quarter last year[19] Future Projections - For Q2 fiscal 2024, net sales are expected to be in the range of $830 million to $850 million, with a mid-single digit decrease in comparable sales anticipated[6] - Full year fiscal 2024 net sales are projected to be between $3.79 billion and $3.87 billion, assuming a 3% to 5% decrease in comparable sales[12] - Full year fiscal 2024 net income is expected to range from $275 million to $297 million; adjusted net income is projected to be between $277 million and $299 million[12] Capital Expenditures and Investments - Gross capital expenditures for fiscal 2024 are expected to be approximately $345 million to $355 million[12] - Net cash used in investing activities totaled $73,078,000, compared to $66,487,000 in the same period last year[21] - The company repurchased and retired common stock amounting to $30,151,000 during the quarter[21] Cash Flow and Liquidity - Net cash provided by operating activities was $26,439,000, significantly lower than $85,291,000 in the prior year[21] - Cash and cash equivalents at the end of the period were $96,308,000, down from $335,286,000 at the end of the same quarter in 2023[21] - The company experienced a net decrease in cash and cash equivalents of $83,441,000 during the quarter[21] Inventory Management - Inventories increased by $45,354,000, compared to a decrease of $6,669,000 in the prior year[21] Taxation - The effective tax rate for Q1 was 23.5%, compared to 18.6% in Q1 fiscal 2023[5]

Joel Anderson, President and CEO of Five Below, said, "While our first quarter sales were disappointing, disciplined cost management enabled us to deliver adjusted EPS within our earnings outlook. Needs-based items such as those in our Candy, Food and Beauty departments outperformed expectations and drove positive sales results. We also saw positive comparable sales from our higher income customers; however, the macro environment disproportionately impacted our core lower income customers, resulting in over ...

Q1 Net Sales Increase of 11.8% to $811.9 million GAAP Diluted EPS of $0.57; Adjusted Diluted EPS of $0.60 Updates Full Year 2024 Guidance PHILADELPHIA, PA, June 05, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the first quarter ended May 4, 2024. For the first quarter ended May 4, 2024: Joel Anderson, President and CEO of Five Below, said, "While our first quarter sales were disappointing, disciplined cost management enabled us to deliver adjusted EPS within ...

Five Below, Inc. (FIVE) is likely to register an increase in the top line when it reports first-quarter fiscal 2024 results on Jun 5 after the closing bell. The Zacks Consensus Estimate for revenues is pegged at $832.7 million, which suggests an improvement of 14.7% from the prior-year reported figure. Over the past seven days, the Zacks Consensus Estimate for first-quarter earnings per share has decreased by a penny to 63 cents. The figure indicates decline of 6% from the prior-year quarter. This extreme-v ...