04:23 PM EDT, 06/05/2024 (MT Newswires) -- Five Below ( FIVE ) reported fiscal Q1 income Wednesday of $0.57 per diluted share, down from $0.67 a year earlier.

Analysts polled by Capital IQ expected $0.63.

Net sales for the quarter ended May 4 rose to $811.9 million from $726.2 million a year earlier. Analysts surveyed by Capital IQ expected $834.4 million.

The company said it expects fiscal Q2 earnings per share of $0.57 to $0.69 and net sales ranging from $830 million to $850 million. Analysts in a Capital IQ poll expect EPS of $1 on sales of $884.5 million, respectively.

For fiscal 2024, the company lowered its EPS guidance to $4.97 to $5.37 from $5.71 to $6.22 and decreased its net sales outlook to $3.79 billion to $3.87 billion from $3.97 billion to $4.07 billion. Analysts in a Capital IQ survey expect $5.99 and $4.03 billion, respectively.

The company shares tumbled 12% in after-hours activity.

Price: 116.78, Change: -16.01, Percent Change: -12.06