Discount store chain Five Below Inc. (NASDAQ: FIVE) reported lower profit for the second quarter of fiscal 2022, despite an increase in sales. Both numbers missed analysts’ estimates.
Net sales increased 3.5% year-over-year to $668.9 million in the second quarter but fell short of expectations. Comparable-store sales decreased 5.8% during the three-month period.
Net profit declined to $41.3 million or $0.74 per share in the July quarter from $64.8 million or $1.15 per share in the second quarter of 2021. Analysts had forecast a slower decrease.
Shares of Five Below closed Wednesday’s session lower, extending the recent downturn. They dropped further in after-hours trading following the earnings announcement.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Customer relationship management platform Salesforce, Inc. (NYSE: CRM) reported higher earnings and revenues for the third quarter of 2024. Earnings also topped expectations. Third-quarter profit, excluding non-recurring items, increased to
Auto parts retailer AutoZone, Inc. (NYSE: AZO) is preparing to report first-quarter results next week, after delivering better-than-expected quarterly earnings consistently in recent years. Analysts forecast an increase in profit
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 4% on Wednesday after the company delivered fourth quarter 2023 earnings results that fell below expectations. The stock has dropped