Is Five Below Stock a Buy?
Five Below (NASDAQ: FIVE) has been of the few winners in the retailing industry through the latest market downturn. Shares have trounced the market in the past full year, rising nearly 30% through mid-March. Walmart and Target stocks have declined in that time.
The specialty retailer just issued an operating update that showed a mixed performance on key sales and earnings metrics. Let's look at where the stock might be headed given its current momentum and management's new outlook for fiscal 2023.
Five Below finished fiscal 2022 on a positive note. Instead of flat comparable-store sales trends, as management had initially forecast back in late October, comps rose 2%. Revenue gains were helped along by a quickly expanding store base, too, as overall sales improved to $1.1 billion compared to $996 million a year earlier.
Source Fool.com
