Last $35.79 USD
Change Today +0.23 / 0.65%
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As of 8:10 PM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

five below (FIVE) Key Developments

Jeffrey Moore Departures as EVP of Merchandising of Five Below, Inc

Five Below, Inc. announced the departure of Jeffrey Moore, EVP of Merchandising.

Five Below Opens Eight New Stores in Houston, Texas

Five Below, Inc. has opened eight new stores in Houston, Texas. The eight new stores will be located in the following areas: Houston (Hedwig Village, Northwest Marketplace, and Willowbrook Plaza); Missouri City (Riverstone Shopping Center); Copperfield (Copperfield Village Shopping Center); Webster (Baybrook Square); Richmond (Bella Terra Shopping Center) and Tomball (Tomball Marketplace). The grand openings mark Five Below's first foray into Houston. The company currently has 15 stores in the Dallas and Austin markets.

Five Below, Inc. Announces Management Appointments

Five Below, Inc. announced that Joel Anderson has been named as President, bringing more than 20 years of experience in the retail sector, most recently as President and CEO of Walmart.com. In his new role, he will lead all aspects of merchandising, stores and marketing. Eric Specter has been named as Chief Administrative Officer and will oversee supply chain operations, information technology and real estate. Eric brings more than three decades of experience in the retail industry, most recently as Executive Vice President and Chief Integration Officer for Ascena Retail Group as well as Acting President of Catherines. Both will report directly to Tom Vellios, Co-Founder and CEO of Five Below. Mr. Anderson will join Five Below in July 2014 from Walmart.com where he oversaw all aspects of the business including merchandising, marketing, operations and overall site experience. Prior to joining Wal-Mart, Mr. Anderson was responsible for all aspects of the retail and direct business units at Lenox Group. He previously spent twelve years at Toys "R" Us, Inc. in various roles and activities including marketing, dotcom, new ventures and operations.

Five Below, Inc. Announces Unaudited Consolidated Earnings Results for the Thirteen Weeks Ended May 3, 2014; Provides Earnings Guidance for the Second Quarter and Fiscal Year 2014

Five Below, Inc. announced unaudited consolidated earnings results for the thirteen weeks ended May 3, 2014. For the thirteen weeks ended May 3, 2014, the company’s net sales increased by 31.8% to $126.004 million from $95.604 million in the first quarter of fiscal 2013; comparable store sales increased by 6.2%. Operating income increased to $5.262 million from $3.189 million in the first quarter of fiscal 2013. Income before income taxes was $4.946 million against $2.678 million a year ago. Net income attributable to common shareholders was $3.060 million or $0.06 per diluted share against $1.539 million or $0.03 per diluted share a year ago. Net cash used in operating activities was $4.113 million against $11.771 million a year ago. Capital expenditures was $10.170 million against $8.148 million a year ago. Adjusted operating income, which excludes the impact of the founders' transaction in both periods increased to $6.120 million from $4.704 million in the first quarter of fiscal 2013. Adjusted net income, which excludes the impact of the founders' transaction in both periods was $3.614 million or $0.07 per diluted share compared to $2.458 million or $0.05 per diluted share for the first quarter of fiscal 2013. The company provided earnings guidance for the second quarter and fiscal year 2014. For the second quarter of fiscal 2014, the company’s net sales are expected to be in the range of $150 million to $152 million based on opening 27 new stores and assuming a 3% to 4% increase in comparable store sales. GAAP net income is expected to be in the range of $6.8 million to $7.3 million, with a GAAP diluted income per common share range of $0.12 to $0.13. For the fiscal 2014, the company’s net sales are expected to be in the range of $675 million to $681 million based on opening 62 new stores for the full year and assuming a 4% increase in comparable store sales. GAAP net income is expected to be in the range of $46.6 million to $48.2 million, with a GAAP diluted income per common share of $0.85 to $0.88 on approximately 54.7 million estimated diluted weighted average shares outstanding. Excluding $0.5 million, or $0.01 per adjusted diluted share in tax-effected expenses related to the founders' transaction, adjusted net income is expected to be in the range of $47.1 million to $48.7 million, or $0.86 to $0.89 per diluted share.

Five Below Opens Eight New Store

Five Below opens its first eight stores in and around Houston on June 6, 2014. The fast-growing company offers teenagers, pre-teens and their parents a dynamic assortment of tech, fashion, beauty, crafts and seasonal must-haves, all priced at $1 to $5. The eight new stores will be located in the following areas: Houston (Hedwig Village, Northwest Marketplace, and Willowbrook Plaza); Missouri City (Riverstone Shopping Center); Copperfield (Copperfield Village Shopping Center); Webster (Baybrook Square); Richmond (Bella Terra Shopping Center); Tomball (Tomball Marketplace). The grand openings mark Five Below's first foray into Houston. The company currently has 15 stores in the Dallas and Austin markets. Last year, the Philadelphia-based retailer opened 60 new stores, and has plans to open approximately 60 stores this year. With the Houston openings, there will be 338 Five Below stores in 20 states throughout the country.

 

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