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Five Below stock surges on raised guidance, new CEO


Published on 2024-12-05 08:01:50 - Thomas Matters, WOPRAI
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  • Five Below Inc (NASDAQ:FIVE) shares jumped 8% after the discount retailer reported better-than-expected third quarter results and raised its full-year outlook. The company also announced the appointment of a new CEO.

Five Below Inc.'s stock surged by 14% following the announcement of an upward revision in its fiscal 2023 guidance and the appointment of a new CEO. The company now expects net sales to be between $3.50 billion and $3.57 billion, up from the previous forecast of $3.48 billion to $3.54 billion. Additionally, the retailer anticipates a comparable sales increase of 2.5% to 3.5%, compared to the earlier projection of 1% to 2%. The new CEO, Joel Anderson, previously served as the CEO of PGT Innovations, and his appointment is effective as of January 1, 2024. This news comes amidst a backdrop of economic challenges, but Five Below's strategic adjustments and leadership change have evidently boosted investor confidence.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/top-stocks/five-below-stock-leaps-14-on-raised-guidance-new-ceo-announcement/ar-AA1vhzGD ]
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