PHILADELPHIA (AP) _ Five Below Inc. (FIVE) on Thursday reported fiscal first-quarter net income of $49.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Philadelphia-based company said it had net income of 88 cents.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The discount retailer posted revenue of $597.8 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $556.9 million.
For the current quarter ending in August, Five Below said it expects revenue in the range of $640 million to $660 million. Analysts surveyed by Zacks had expected revenue of $588.1 million.
Five Below shares have increased nearly 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $177.95, a climb of 65% in the last 12 months.
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This story was generated by Automated Insights (https://ift.tt/1nCTSu9) using data from Zacks Investment Research. Access a Zacks stock report on FIVE at https://ift.tt/2RZbR6F
The Associated Press
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