Specialty discount store chain Five Below Inc. (NASDAQ:FIVE) shares are trading higher in premarket Monday after an upbeat 2024 holiday sales.

The company posted a net sales increase of 8.7% to $1.19 billion for the holiday period, which covered nine weeks from November 3, 2024, through January 4, 2025.

This compares to the sales of $1.10 billion during the same period last year. However, comparable sales for the period dipped by 3.2%.

Tom Vellios, Executive Chairman and co-founder, said, “The increased focus on product, value and store experience to better engage our customers is underway. We are encouraged by early customer response to these investments, and we look forward to continuing to make progress in 2025.”

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Vellios added that the company now expects the fourth-quarter sales to fall within the upper half of the previously provided guidance range of $1.35 billion – $1.38 billion (estimate $1.382 billion).

In addition, the company reiterated its fourth-quarter EPS guidance. The company’s previously provided guidance range for the quarter was $3.15 – $3.33 against an estimate of $3.55, with adjusted EPS forecasted between $3.23 and $3.41, with an estimate of $3.38.

Five Below’s annual net sales guidance was $3.84 billion – $3.87 billion compared with an estimate of $3.876 billion, with a comparable sales decrease of around 3%. The company’s full-year EPS outlook was $4.34 – $4.52, with adjusted diluted EPS forecasted to be $4.78 – $4.96, against an estimate of $4.94.

Price Action: FIVE shares are trading higher by 1.98% at $105.24 in premarket at last check Monday.

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This article Discount Stores Chain Five Below Holiday Period Sales Surge 8.7%; Stock Rises originally appeared on Benzinga.com

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