The stock was down 3% at $114.73 at last check. The shares closed the regular session up 2.7%.
For the quarter ended Aug. 3 the Philadelphia company reported net sales increased 20% to $417.4 million from $347.7 million in the year-earlier quarter. The analyst consensus was sales of $421.1 million.
Comparable-store sales increased 1.4%, the company said.
Net income increased 15% to $28.8 million. Diluted EPS came in at 51 cents, which beat expectations of 50 cents and compared with 45 cents a year ago.
EPS was at the high end of the company's guidance range, CEO Joel Anderson said in a statement. "We saw broad-based strength across our worlds, despite a slower start to summer, which impacted sales of our seasonal assortment. Our performance once again was driven by continued strong results from new stores."
Anderson said Five Below opened 44 new stores in 21 states and is on track to finish the year with 150 new stores.
For its third-quarter outlook, net sales are expected to range $369 million to $374 million based on opening 55 new stores and assuming a 2% to 3% increase in comparable sales, the company said.
Net income is expected to range $7.6 million to $9.8 million, or diluted EPS of 14 cents to 17 cents.
Five Below shares are trading about 25% below their 52-week high of $148.22 reached on April 30. The 52-week low was $86.57 on Dec. 24.
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