​Goldman Says Five Below’s Earnings Indicate “Core Customer Pressured & Is Reducing Discretionary Spending”  – Tyler Durden

Goldman Says Five Below’s Earnings Indicate “Core Customer Pressured & Is Reducing Discretionary Spending”  Highlighting mixed consumer trends, discount retailer Five Below reported a smaller-than-expected decline in second-quarter comparable sales, beating analysts’ projections tracked by Bloomberg. Although the company lowered its full-year comparable sales forecast, it still exceeded analysts’ expectations. Here’s a snapshot of second-quarter results (courtesy of Bloomberg): Net sales $830.1 million, +9.4% y/y, estimate $822 million Comparable sales -5.7%, estimate -6.4% EPS 60c vs. 84c y/y, estimate 54c Total location count 1,667, +3.9% q/q, estimate 1,660 Stores opening 62, +55% y/y, estimate 60 Third quarter forecast:  Sees net sales…  — Continue at ZeroHedge News : Read More