Why Five Below Stock Was Falling Today
Shares of Five Below (NASDAQ: FIVE) were heading lower after the discount retailer posted disappointing results in its fourth-quarter earnings report, missing estimates on the bottom line. As a result, the stock was down 14.3% as of 11:38 a.m. ET.
The company, which sells toys, games, clothes, and other products for $5 or less typically in mall and shopping center settings, delivered decent results in the quarter, but they couldn't keep up with expectations. Revenue in the quarter jumped 19.1% to $1.34 billion, essentially matching estimates of $1.35 billion.
That increase was driven primarily by new-store openings and an extra week in the quarter. Adjusting for the extra week, revenue rose 14.9%, while comparable sales were up a modest 3.1%.
Source Fool.com
