Why Five Below Stock Rocketed 20% Higher This Week

Shares of Five Below (NASDAQ: FIVE) jumped 22.5% this week, according to data from S&P Global Market Intelligence. The discount retailer posted improving comparable store sales growth in the third quarter and announced a new CEO to lead the company. Shares of Five Below had fallen big-time this year, and are still off 52% from all-time highs. However, as of this writing at 2:33 p.m. ET on Friday, Dec. 6, the stock is up over 20% this week.Here's why Five Below stock recovered some losses this week.Five Below's Q3 headline numbers were strong. Revenue grew 14.6% year over year to $843.7 million, with comparable-store sales growth of 0.6%. Less than 1% same-store sales growth might seem weak, but this is a big improvement for Five Below compared to previous quarters. In the second quarter of this year, Five Below had a negative 5.7% comparable sales growth, so any positive number is a major step in the right direction.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool