Five Below, Inc. (FIVE) released its third-quarter 2021 report on Dec. 1. The retailer’s quarterly earnings and revenue surpassed market estimates. As of 09:22 am EST today, FIVE stock jumped 10.72% in value.
Quarterly Earnings Beat Estimates
Coming in at $0.43 per share, Five Below’s third-quarter 2021 earnings beat prior estimates of around $0.29 per share.
Quarterly Revenue Better Than Expected
The company’s revenue for its third quarter, which hit $608 million, beat prior forecasts of approximately $565 million.
CEO Comments
“We delivered record-setting third-quarter performance on top of a record third quarter last year,” CEO Joel Anderson commented. “These results reflect the phenomenal execution by our teams in a challenging supply chain environment. They also demonstrate the inherent flexibility of our model as we successfully capitalized on key trends that strengthened during the quarter, which brought new and existing customers to Five Below.”
Outlook
Five Below expects net sales “in the range of $985 million to $1,005 million” for the fourth quarter of fiscal 2021, with net income falling somewhere between $133 million and $140 million. For the full year, the company expects sales in the $2,837 million to $2,857 million range, with a net income of $272 million to $279 million.
