Five Below, Inc. Announces Holiday Sales Results for Quarter-To-Date Through January 7, 2017; Updates Fourth Quarter and Full...
January 09 2017 - 8:25AM
Five Below, Inc. (NASDAQ:FIVE) (“Five Below” or the “Company”)
today announced net sales results for the quarter-to-date period
from October 30, 2016 through January 7, 2017 ("Holiday Period")
and updated guidance for its fourth quarter and full year for
fiscal 2016 ending January 28, 2017.
The Company announced that net sales for the Holiday Period,
which includes New Year’s Day in both periods, increased by 18.0%
to $349.3 million from $296.2 million in the comparable fiscal week
period of 2015. Comparable sales for the Holiday Period increased
by 0.5%.
Joel Anderson, CEO of Five Below, stated: "After a solid start
to the holiday season, we experienced softness in mid-December,
including Super Saturday, with sales accelerating later in the
holiday season. We had strong performance in our tech and room
categories that were not up against the strong license and
trend-driven comparisons from last year, as well as good
performance in markets where we ran TV for the first time. In
addition, our new 2016 stores continue to perform well and are on
track to be one of our strongest classes ever."
Mr. Anderson added, “Given our holiday performance, we are
updating our outlook for the full year 2016 and now expect sales
growth of 20% and EPS growth of 22% to 23%. We remain committed to
delivering on our goals of 20% top line and 20% bottom line growth
through 2020, and we look forward to discussing 2016 and our
outlook for 2017 on our fourth quarter earnings call in March.”
Based on the quarter-to-date performance, the Company updated
its guidance for the fourth quarter and fiscal year 2016. For the
fourth quarter, net sales are now expected to be in the range of
$386 million to $388 million, or growth of 18% to 19% assuming a
comparable sales increase of approximately 1%. Diluted income per
common share for the fourth quarter is expected to be in the range
of $0.88 to $0.89, or approximately 14% to 16% growth.
For the full year fiscal 2016, net sales are now expected to be
in the range of $998 million to $1,000 million, or growth of 20%
assuming a comparable sales increase of approximately 2%. Diluted
income per common share for fiscal 2016 is expected to be in the
range of $1.28 to $1.29, or approximately 22% to 23% growth.
The Company also announced that management will participate in
the 19th Annual ICR Conference held at the JW Marriott Orlando
Grande Lakes in Orlando, Florida. Management is currently scheduled
to conduct a fireside chat on Tuesday, January 10, 2017 at 8:30
a.m. Eastern Time. The fireside chat will be webcast live at
http://investor.fivebelow.com/. An archived replay will be
available two hours after the conclusion of the live event.
About Five Below:Five Below is a rapidly
growing specialty value retailer offering a broad range of
trend-right, high-quality merchandise targeted at the teen and
pre-teen customer. Five Below offers a dynamic, edited assortment
of exciting products in a fun and differentiated store environment,
all priced at $5 and below. Select brands and licensed merchandise
fall into the Five Below worlds: Style, Room, Sports, Tech, Crafts,
Party, Candy, and Now. Five Below was founded in 2002 and is
headquartered in Philadelphia, Pennsylvania, with over 500 stores
in 31 states. For more information, please visit
www.fivebelow.com or come into one of our stores!
Forward-Looking Statements:This news release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 as contained in
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, which reflect management's current
views and estimates regarding the Company's industry, business
strategy, goals and expectations concerning its market position,
future operations, margins, profitability, capital expenditures,
liquidity and capital resources and other financial and operating
information. Investors can identify these statements by the fact
that they use words such as "anticipate," "assume," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "future" and similar terms and
phrases. The Company cannot assure investors that future
developments affecting the Company will be those that it has
anticipated. Actual results may differ materially from these
expectations due to risks related to the Company's strategy and
expansion plans, risks related to the inability to successfully
implement our expansion into online retail, the availability of
suitable new store locations and the dependence on the success of
shopping centers in which our stores are located, risks that
consumer spending may decline and that U.S. and global
macroeconomic conditions may worsen, risks related to the Company's
continued retention of its senior management and other key
personnel, risks related to changes in consumer preferences and
economic conditions, risks related to increased operating costs,
including wage rates, risks related to extreme weather, risks
related to the Company's distribution centers, quality or safety
concerns about the Company's merchandise, events that may affect
the Company's vendors, increased competition from other retailers
including online retailers, risks related to cyber security, risks
related to customers' payment methods, risks related to trade
restrictions, and risks associated with leasing substantial amounts
of space. For further details and a discussion of these risks and
uncertainties, see the Company's periodic reports, including the
annual report on Form 10-K, quarterly reports on Form 10-Q and
current reports on Form 8-K, filed with or furnished to the
Securities and Exchange Commission and available at www.sec.gov. If
one or more of these risks or uncertainties materialize, or if any
of the Company's assumptions prove incorrect, the Company's actual
results may vary in material respects from those projected in these
forward-looking statements. Any forward-looking statement made by
the Company in this news release speaks only as of the date on
which the Company makes it. Factors or events that could cause the
Company's actual results to differ may emerge from time to time,
and it is not possible for the Company to predict all of them. The
Company undertakes no obligation to publicly update any forward
looking statement, whether as a result of new information, future
developments or otherwise, except as may be required by any
applicable securities laws.
Investor Contact:
Five Below, Inc.
Christiane Pelz
215-207-2658
Christiane.Pelz@fivebelow.com
ICR, Inc.
Farah Soi/Caitlin Morahan
203-682-8200
Farah.Soi@icrinc.com/Caitlin.Morahan@icrinc.com
Media Contact:
ICR, Inc.
Jessica Liddell/Julia Young
203-682-8200
FivePR@icrinc.com
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