Consumer Discretionary Stocks Beginning to Pare Earlier Declines

Consumer stocks were mixed in mid-day trade, with shares of consumer staples companies in the S&P 500 climbing almost 0.5% while shares of consumer discretionary firms in the S&P 500 were slipping about 0.2%.

In company news, shares of Five Below (FIVE) advanced Friday after the youth-oriented retailer reported Q3 net income beating analyst forecasts.

The company earned $0.10 per share during the July-to-October quarter, reaching the top end of its internal guidance and exceeding the Capital IQ Consensus by $0.01 per share. Net sales grew 17.6% over year-ago levels to $199.5 million, largely in-line with the Street view expecting $200.7 million in quarterly sales.

For the current quarter, Five Below is projecting per-share earnings in a range $0.89 to $0.92 on between $391 million to $397 million in sales. Analysts, on average, are looking for a $0.91 per share profit on $393.65 million in sales. FIVE shares were up more than 12% at $44.90 each this afternoon following a previous climb today to $45.32 a share.

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