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Five Below (FIVE) Stock Drops in After-Hours Trading, Q3 Guidance Misses Estimates

NEW YORK (TheStreet) -- Shares of Five Below (FIVE) were sliding 6.31% to $41.75 in after-hours trading on Wednesday after the Philadelphia discount retailer reported downbeat estimates for the third quarter.

For the third quarter, Five Below expects earnings per share in the range of 9 cents to 10 cents on revenue between $199 to $202 million. Analysts are looking for earnings of 10 cents on revenue of $203.9 million for the period.

For the full year, the company projects to earn between $1.28 per share and $1.32 per share on sales of $1 billion to $1.01 billion. Five Below had previously estimated earnings per share between $1.27 and $1.31 on revenue in the range of $995 million to $1 billion.

Wall Street is expecting earnings of $1.31 per share on revenue of $1.01 billion for 2016.