By Katherine Hamilton
Five Below shares edged down Monday after the company said comparable sales dipped during the holiday period.
The stock fell 5% to $97.93. It has lost almost half its value over the past 12 months.
During the holiday period, which Five Below marks from Nov. 3 to Jan. 4, comparable sales decreased 3.2%. It expects comparable sales in the fourth quarter to decline 3% to 5%.
Holiday period net sales increased 8.7% to $1.19 billion compared with the same period last year.
The company expects to deliver fourth-quarter sales in the upper half of its previously announced range between $1.35 billion and $1.38 billion, said Executive Chairman Tom Vellios. The discount retailer also reiterated its expectation of $3.15 to $3.33 per share in earnings.
The Philadelphia-based company expects to record a total 3% decline in comparable sales for full-year 2024. Net sales for the year are anticipated at between $3.84 billion and $3.87 billion, with earnings per share pegged at $4.34 to $4.52.
Winnie Park, who was formerly chief executive of Forever 21, began her role as Five Below's new CEO in December. She is expected to focus heavily on improving product and value during her first year, Jefferies analysts said in a note Monday.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 13, 2025 11:28 ET (16:28 GMT)
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