Five Below, Inc. Reports Sales Results for the Nine Weeks Ended January 3, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014
January 08, 2015 at 09:01 pm
Share
Five Below, Inc. reported sales results for the nine weeks ended January 3, 2015. The company announced that net sales for this nine week period increased by 24.5% to $230.7 million from $185.3 million a year ago, while comparable store sales for this period increased by 3.2% over 2013 with the increase driven by average ticket.
The company now expects net sales for the fourth quarter of fiscal 2014 to be in the range of $262 million to $263 million, assuming 3% increase in comparable store sales and net income to be in the range of $32.5 million to $33.0 million, with a diluted income per common share range of $0.59 to $0.60 on approximately 54.7 million estimated weighted average shares outstanding.
The company expects net sales growth for the fiscal year 2014 of 27% and adjusted net income growth of approximately 30%.
Five Below, Inc. is a specialty value retailer offering merchandise targeted at the tween and teen demographic. Its assortment of products, including select brands and licensed merchandise. It is engaged in offering a group of products, including leisure, fashion and home, and snack and seasonal. Leisure includes items, such as sporting goods, games, toys, tech, books, electronic accessories, arts and crafts, and party. Fashion and home include items, such as personal accessories, attitude t-shirts, beauty offerings, home goods and storage options. Snack and seasonal include items, such as seasonal goods, greeting cards, candy and other snacks, and beverages. It also offers its merchandise on the Internet, through its fivebelow.com e-commerce Website, offering home delivery and the option to buy online and pick up in store. It also sells its merchandise through on-demand third-party delivery services to enable its customers to shop online and receive convenient delivery.
Five Below, Inc. Reports Sales Results for the Nine Weeks Ended January 3, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014