Five Below Inc. shares rose over 8% in postmarket trading on Wednesday after the retailer lifted its full-year outlook, citing the addition of new stores and the popularity of its budget-friendly merchandise among Gen Alpha and Gen Z shoppers.

The Philadelphia-based company now sees fiscal-year net sales between $5.63 billion and $5.71 billion, up from the $5.40 billion and $5.48 billion it previously forecast.

Comparable sales for the year are seen growing between 10% and 12%, versus the consensus estimate of around 9%.