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Five Below profit doubles in second quarter
Five Below’s profit more than doubled to $8.3 million in the second quarter of fiscal 2014, from $4.1 million in the same period last year. Its results beat expectations. The chain issued a third-quarter earnings estimate slightly below Wall Street views, while increasing its full-year sales and earnings guidance.
Revenue in the quarter increased 30% to $152.5 million. Same-store sales increased by 3.2%.