By Davit Kirakosyan

Five Below (NASDAQ:) shares lost more than 6% after-hours following the company’s reported , with revenue of $639.6 million (up 7% year-over-year) coming in worse than the consensus estimate of $652.74 million. The consensus estimate of $0.58 was better, with EPS at $0.59.

“While first quarter sales were softer than expected, disciplined cost management enabled us to deliver against our earnings outlook,” CEO Joel Anderson commented. With improved inventory and increased receipts for summer and back to school, we are well-positioned.

Retailers at discount prices expect Q2/22 earnings to be in the $0.74 to $0.86 range, as opposed to $1.20 consensus. Revenue is expected to range from $675-695 millions, in comparison to $729.5 consensus.

The full 2022-year forecasts an EPS range between $4.85 and $5.524, which is lower than the consensus at $5.47. It also expects revenue to be in the $3.04-3.12 trillion range, rather than the $3.2 billion consensus.