Five Below shares moved higher in after-hours trading on Wednesday after the retailer reported better-than-expected second-quarter results and raised its full-year outlook. The company posted revenue of $1.03 billion, topping estimates of $992.7 million, and adjusted earnings of 81 cents per share, above estimates of 61 cents. Comparable sales rose 12.4% year-over-year, and operating income reached $52.4 million. Five Below opened 32 new stores during the quarter and ended the period with $562.75 million in cash. Management raised full-year revenue guidance to $4.44 billion to $4.52 billion and lifted adjusted earnings expectations to $4.76 to $5.16 per share. Five Below shares were up 1.97% after-hours, according to Benzinga Pro.
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