Benzinga - Five Below Inc (NASDAQ: FIVE) shares are up nearly 9% in Wednesday's after-hours session after the company reported strong third-quarter results and issued guidance above analyst expectations.
Five Below said third-quarter revenue increased 6.2% year-over-year to $645.03 million. The company's sales results beat average analyst estimates of $611.43 million, according to Benzinga Pro.
The retailer reported third-quarter earnings of 29 cents per share, which beat average estimates of 14 cents per share.
"We delivered third quarter results that were better than our guidance in spite of the difficult macro environment and challenging year-over-year comparison. Our performance was driven by ticket and transaction metrics that improved throughout the quarter, disciplined expense management and continued focus on our long-term Triple Double vision," said Joel Anderson, president and CEO of Five Below.
Five Below expects fourth-quarter revenue to be between $1.085 billion and $1.11 billion versus average estimates of $1.08 billion. The company expects fourth-quarter earnings to be between $2.93 and $3.09 per share versus average estimates of $2.93 per share.
Five Below sees full-year revenue between $3.038 billion and $3.063 billion versus estimates of $3 billion. The company expects full-year earnings to be between $4.55 and $4.71 per share versus average estimate of $4.41 per share.
FIVE Price Action: Five Below shares are up 8.79% in after hours at $175 at time of publication, according to Benzinga Pro.
Photo: Mike Mozart from Flickr.
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