Five Below (FIVE) Gets 7% Boost on Earnings

Five Below (FIVE), which sells apparel, games and a wide range of other good for $5 or less, got a big boost on Wednesday when the stock jumped 7% after analysts raised their price targets on the stock following its fiscal Q4 earnings report.

Five Below reported March 22 that profit for fiscal Q4 that ended in January rose 26% to 77 cents a share, a little higher than expected. Sales rose 34% to $326.4 million, picking up for the second straight quarter.

The company said in its Q4 earnings statement that it expects comparable store sales to rise 4%. It also plans to open 20 new stores during the quarter. Meanwhile, fund ownership of the stock has increased for three straight quarters.

The four-stock IBD Sector Leaders list now boasts three retail stocks—Five Below, (STMP)  and Ulta Beauty (ULTA). All three are Cabot Top Ten Trader stocks.

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