Five Below, Inc. ( FIVE ) reported its second-quarter financial results after Wednesday's closing bell. Here's a look at the key figures from the report.  

The Details: Five Below ( FIVE ) reported quarterly earnings of 54 cents per share, in-line with the analyst consensus estimate. Quarterly sales clocked in at $830.07 million, which beat the consensus estimate by 0.96% and represents a 9.37% increase from the same period last year.

The company said net sales increased by 9.4% year-over-year, while comparable sales decreased by 5.7%. Five Below ( FIVE ) opened 62 new stores and ended the quarter with 1,667 stores in 43 states. This represents an increase in stores of 18.5% from the end of the second quarter of fiscal 2023.

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“Our second quarter results fell short of what we know this business is capable of delivering. Our response to the macro pressures of the last few years and the evolving consumer environment has required even greater execution, compelling and differentiated assortments and focus on the customer,” commented Ken Bull, Interim CEO, president and COO of Five Below ( FIVE ).

Outlook: Five Below ( FIVE ) expects third-quarter net sales of between $780 million and $800 million, versus the $790.62 million estimate, and earnings of between 10 cents and 22 cents per share, versus the 13-cent estimate.

The company cut its fiscal year net sales outlook from a range of $3.79 billion to $3.87 billion to a range of between $3.73 billion and $3.8 billion, versus the $3.78 billion estimate. It also cut its earnings outlook from between $5 and $5.40 per share to a range of $4.35 to $4.71 per share, versus the $4.69 estimate.

FIVE Price Action: According to Benzinga Pro, Five Below ( FIVE ) shares are up 5.42% after-hours at $84.36 at the time of publication on Wednesday.

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Image: Mike Mozart from Wikimedia Commons