Five Below, Inc. Announces Holiday Sales Results for Quarter-To-Date Through January 5, 2019
January 14 2019 - 8:00AM
Five Below, Inc. (NASDAQ: FIVE) (“Five Below” or the “Company”)
today announced net sales results for the quarter-to-date period
from November 4, 2018 through January 5, 2019 ("Holiday Period").
The Company announced that net sales for the Holiday Period
increased by 24.6% to $526.1 million from $422.3 million in the
comparable nine-week period from November 5, 2017 to January 6,
2018. Comparable sales for the Holiday Period increased by 4.9%.
Joel Anderson, President and CEO of Five Below, stated, “We are
very pleased with our holiday sales results. We saw continued
strong performance from our new stores and comparable sales came in
ahead of our expectations. Results were broad-based across many
worlds, including Tech, Candy, Create and Sports, where we
successfully capitalized on the toy opportunity through an expanded
selection of amazing value toys and games. We believe our offering,
combined with increased TV advertising, drove traffic. Given our
strong quarter-to-date performance and expectations for the
remainder of the fourth quarter, we expect to slightly exceed our
sales guidance while delivering bottom line performance at the high
end of our earnings guidance range.”
The Company’s guidance given on its third quarter earnings call
is provided below.
Fourth Quarter Fiscal 2018 Guidance*
- Net sales of $593 million to $600 million
- Comparable sales increase of 3% to 4%
- Diluted income per common share of $1.53 to $1.57 on
approximately 56.4 million estimated diluted weighted average
shares outstanding
Full Year Fiscal 2018 Guidance*
- Net sales of $1.550 billion to $1.557 billion
- Comparable sales increase of 3.3% to 3.7%
- Diluted income per common share of $2.60 to $2.64 on
approximately 56.4 million estimated diluted weighted average
shares outstanding
*The fourth quarter and full year of fiscal 2017 included one
additional week ("53rd week") versus the same periods in the prior
year. Net sales and diluted earnings per share in the 53rd week
were $15.7 million and $0.03, respectively.
As previously announced, management is scheduled to participate
in a fireside chat today at 10:30 a.m. Eastern Time at the 21st
Annual ICR Conference. The event 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 leading
high-growth value retailer offering trend-right, high-quality
products loved by tweens, teens and beyond. We know life is way
better when you're free to "let go & have fun" in an amazing
experience filled with unlimited possibilities. We make it easy to
say YES! to the newest, coolest stuff because everything is just $5
and below across awesome Five Below worlds: Style, Room, Sports,
Tech, Create, Party, Candy and Now. Founded in 2002 and
headquartered in Philadelphia, Pennsylvania, Five Below today has
approximately 750 stores in 33 states. For more information, please
visit www.fivebelow.com and a store!
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, risks related to our
ability to select, obtain, distribute and market merchandise
profitably, risks related to our reliance on merchandise
manufactured outside of the United States, risks related to any
legal proceedings that we may become subject to, the availability
of suitable new store locations and the dependence on the volume of
traffic to our stores, risks related to the Company's continued
retention of its executive officers, 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 leasing, owning or building distribution centers, risks
related to our ability to successfully manage inventory balance and
inventory shrinkage, quality or safety concerns about the Company's
merchandise, increased competition from other retailers including
online retailers, risks related to the seasonality of our business,
risks related to cyber security, risks related to our ability to
protect our brand name and other intellectual property, risks
related to customers' payment methods, risks related to domestic
and foreign trade restrictions including duties and tariffs
affecting our domestic and foreign suppliers, including, among
others, the direct and indirect impact of recent and potential
tariffs imposed and proposed by the United States on foreign
imports, risks associated with the restrictions imposed by our
indebtedness on our current and future operations, the impact of
changes in tax legislation and accounting standards 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
Pelz215-207-2658Christiane.Pelz@fivebelow.com
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