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Shares of Five Below (NASDAQ:FIVE) surged more than 12 percent in late afternoon hours. The company announced that net sales for the second quarter increased 35 percent year-over-year to $117.1 million. Operating income was $7.2 million, compared to $4.7 million a year earlier. Thomas Vellios, co-founder, president, and chief executive officer, stated, “We are extremely pleased with our top and bottom line performance in the second quarter which once again illustrates the strong fundamentals of our business.”

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