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Summary
- Shares of discount retailer Five Below plunged 15.3% after disappointing financial results for Q1 2024.
- Despite the decline, the company’s long-term growth potential remains strong.
- Revenue increased by 11.8% YoY, but fell short of analysts’ expectations, while earnings and adjusted earnings also missed forecasts.
- If management can achieve its goals, then the firm’s upside looks decent enough to warrant some degree of optimism.
- Looking for a helping hand in the market? Members of Crude Value Insights get exclusive ideas and guidance to navigate any climate. Learn More »
Things are going very poorly for shareholders of discount retailer Five Below, Inc. (NASDAQ:FIVE). After seeing shares drop nearly 4% on June 5th, they plunged another 15.3% after the market closed for the day. This came after management reported financial results for the first quarter of the 2024 fiscal year. Even though the company achieved strong growth on the top line, revenue still fell short of analyst expectations. Both earnings and adjusted earnings also missed forecasts, driven not only by the shortfall in revenue, but also by margin compression.
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