— Specialty retailer Five Below (NASDAQ: FIVE) reported its third-quarter 2019 earnings of $0.18 per share versus $0.17 per share expected.
— Net sales climbed by 21% to $377.4 million versus $373.43 million expected. The growth reflects a 2.9% increase in comparable-store sales.
— The company opened 61 new stores and ended the quarter with 894 stores in 36 states. This represents an increase in stores of 20% from the end of the third quarter of fiscal 2018.
— Looking ahead into the fourth quarter, the company expects net sales of $717-732 million, based on opening about 6 new stores and assuming a 2-3% increase in comparable sales. This is below the consensus estimates of $733.97 million.
— Net income is predicted to be in the range of $110.7-115.2 million or $1.97-2.05 per share for the fourth quarter. This is in-line with the analysts’ forecast of $2.02 per share.
— For the full year 2019, Five Below narrowed its net sales outlook to the range of $1.877-1.892 billion from the previous range of $1.872-1.892 billion. In contrast, the consensus view is $1.89 billion.
— The net sales guidance for the full year is based on opening 150 new stores and assuming an approximate 2.5% increase in comparable sales.
— For the full year, net income guidance is tightened to the range of $175.4-179.9 million or $3.11-3.19 per share from the previous range of $173.4-179.9 million or $3.08-3.19 per share. This is compared to the Street’s view of $3.15 per share.
Most Popular
Infographic: Key highlights from Campbell Soup Company’s (CPB) Q1 2023 earnings results
Campbell Soup Company (NYSE: CPB) reported first quarter 2023 earnings results today. Net sales increased 15% year-over-year to $2.57 billion. Organic sales growth was 15%. Net earnings attributable to Campbell Soup
Cancer drug maker Felicitex prepares for IPO. Here’s all you need to know
Fewer companies filed for initial public offering this year, compared to 2021 when the market witnessed a record number of IPOs. With only a few weeks left for the year
Chipotle Mexican Grill (CMG): A few points to keep in mind if you have an eye on this restaurant chain
Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) were down 3% on Tuesday. The stock has dropped 13% year-to-date but there is still a positive sentiment in general about its
