** Shares of discount retailer Five Below FIVE.O up 6.4% at $128.94 premarket
** Co raised annual sales forecast and lower end of profit forecast following market close on Wednesday, after reporting upbeat Q1 results and forecasting Q2 net sales above expectations
** FIVE sees annual net sales between $4.33 billion and $4.42 billion vs prior view of $4.21 billion to $4.33 billion
** Expects adjusted annual EPS between $4.25 and $4.72 vs previous forecast of $4.10 to $4.72
** Separately, co announced CFO Kristy Chipman is stepping down; COO Ken Bull to be Interim CFO
** Brokerage Jefferies sees likely upside to forecast, says CFO transition will have minimal impact on co
** Citi says current guidance for second half of year looks conservative, but appropriate given uncertain macroeconomic background
** Average rating of 22 analysts is "hold"; median PT is $123 - data compiled by LSEG
** Up to last close, stock has risen 15% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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