Five Below Inc (NASDAQ:FIVE) Q3 Report

Five Below Inc's shares jumped 8% after the discount retailer reported better-than-expected third-quarter results and raised its full-year outlook. The company also announced the appointment of a new CEO.

Q3 Earnings Highlights

• Adjusted EPS: $0.42 (vs. analyst estimates of $0.17)
• Revenue: $843.7 million (up 14.6% YoY, surpassing forecast of $796 million)
• Comparable Sales: Increased by 0.6%

Full-Year Guidance

The company raised its 2024 guidance, now expecting:
– Adjusted EPS: $4.78-$4.96
– Revenue: $3.84-$3.87 billion (above Wall Street's projections of $4.61 EPS and $3.8 billion in revenue)

Ken Bull, Interim CEO and COO, stated, "We are pleased to report third quarter results that exceeded our outlook. We delivered stronger performance across a broader group of our merchandise worlds compared to the second quarter and improved our operational execution."

Store Expansion

Five Below opened 82 new stores in Q3, ending the period with 1,749 locations across 44 states, an 18.1% increase in store count YoY.

New CEO Appointment

Winnie Park will become the new Chief Executive Officer, effective December 16, 2024.

Q4 Outlook

For Q4, Five Below expects:
– Revenue: $1.35-$1.38 billion
– Adjusted EPS: $3.23-$3.41 (assuming a 3-5% decrease in comparable sales)