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Five Below (NASDAQ:FIVE) shares lost more than 6% after-hours following the company’s reported Q1 results, with revenue of $639.6 million (up 7% year-over-year) coming in worse than the consensus estimate of $652.74 million. EPS was $0.59, better than the consensus estimates of $0.58.
“While first quarter sales were softer than expected, disciplined cost management enabled us to deliver against our earnings outlook,” CEO Joel Anderson commented. “We are well positioned from an inventory standpoint with improved in-stocks and accelerated receipts for Summer and Back to School.”
The off-price retailer expects Q2/22 EPS in the range of $0.74-$0.86, compared to the consensus of $1.20, and revenue in the range of $675-695 million, compared to the consensus of $729.5 million.
For the full 2022-year, the company expects EPS in the range of $4.85-$5.24, compared to the consensus of $5.47, and revenue in the range of $3.04-3.12 billion, compared to the consensus of $3.2 billion.
