Last $38.76 USD
Change Today -0.11 / -0.28%
Volume 226.8K
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As of 5:10 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

five below (FIVE) Key Developments

Five Below, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2015

Five Below, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported net sales of $137,979,000 compared to $110,747,000 for the same period a year ago. Operating income was $5,480,000 compared to $3,021,000 last year. Income before income taxes was $5,474,000 compared to $2,700,000 last year. Net income attributable to common shareholders was $3,311,000 million or $0.06 per basic and diluted share compared to $1,656,000 or $0.03 per basic and diluted share last year. Adjusted operating income was $5,480,000 compared to $4,536,000 last year. Adjusted net income was $3,311,000 or $0.06 per diluted share compared to $2,593,000 or $0.05 per diluted share last year. For the nine months, the company reported net sales of $416,462,000 compared to net sales of $323,438,000 for the same period a year ago. Operating income was $24,077,000 compared to $13,396,000 last year. Income before income taxes was $23,745,000 compared to $11,907,000 last year. Net income attributable to common shareholders was $14,691,000 or $0.27 per basic and diluted share compared to net loss attributable to common shareholders of $7,206,000 or $0.13 per diluted share last year. Net cash used in operating activities was $3,621,000 compared to $17,298,000 last year. Capital expenditures were $24,787,000 compared to $21,758,000 last year. Adjusted operating income was $24,935,000 compared to $18,941,000 last year. Adjusted net income was $15,245,000 or $0.28 per diluted share compared to $11,109,000 or $0.20 per diluted share last year. For the fourth quarter of fiscal 2014, net sales are expected to be in the range of $262 million to $266 million based on opening one new store and assuming a 4% increase in comparable store sales. GAAP net income is expected to be in the range of $32.5 million to $33.8 million, with a GAAP diluted income per common share range of $0.59 to $0.62 on approximately 54.7 million estimated diluted weighted average shares outstanding. For fiscal 2014, net sales are expected to be in the range of $678 million to $682 million based on opening 62 new stores for the full year and assuming an approximate 4% increase in comparable store sales. GAAP net income is expected to be in the range of $47.2 million to $48.5 million, with a GAAP diluted income per common share of $0.86 to $0.89 on approximately 54.6 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 $47.7 million to $49.0 million, or $0.87 to $0.90 per diluted share based on estimated adjusted diluted weighted average shares outstanding of approximately 54.7 million. The company's capital expenditures expect approximately $36 million in 2014. The company continues to expect relatively flat gross and operating margins for the full year and a full year effective tax rate of 38%.

Five Below, Inc. Announces Executive Changes

Five Below, Inc. announced that Joel Anderson, President and COO of Five Below, has been appointed President and Chief Executive Officer and elected as a member of the company's Board of Directors, effective February 1, 2015. Current CEO and Co-founder, Tom Vellios, will work with Mr. Anderson in the coming months to ensure a smooth and orderly transition and will remain active in the company in the role of Executive Chairman. Current Executive Chairman and Co-Founder David Schlessinger will remain on the Board of Directors and continue to support Joel and the entire Five Below team. Mr. Anderson joined Five Below in July 2014, bringing more than 20 years of experience in the retail sector, most recently as President and CEO of Walmart.com, the multi-billion dollar U.S. dotcom business unit. He oversaw all aspects of the business including merchandising, marketing, operations and overall site experience. Additionally, he successfully accelerated the strategy from a pure play dotcom to a multi-channel retailer. 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. to Report Q3, 2015 Results on Dec 04, 2014

Five Below, Inc. announced that they will report Q3, 2015 results at 4:30 PM, US Eastern Standard Time on Dec 04, 2014

Five Below, Inc., Q3 2015 Earnings Call, Dec 04, 2014

Five Below, Inc., Q3 2015 Earnings Call, Dec 04, 2014

Five Below, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and First Half Year Ended August 2, 2014; Provides Earnings Guidance for the Third Quarter of Fiscal 2014; Revises Earnings Guidance for the Full Year of Fiscal 2014; Plans to Open New Stores

Five Below, Inc. announced unaudited consolidated earnings results for the second quarter and first half year ended August 2, 2014. Net sales increased by 30.2% to $152.5 million from $117.1 million in the second quarter of fiscal 2013; comparable store sales increased by 3.2%. Operating income increased to $13.3 million from $7.2 million in the second quarter of fiscal 2013. Adjusted operating income, which excludes the impact of the founders' transaction and the fees incurred related to the company's secondary public offering in the second quarter of fiscal 2013 increased to $13.3 million from $9.7 million in the second quarter of fiscal 2013. GAAP net income attributable to common shareholders was $8.3 million compared to $4.1 million in the second quarter of fiscal 2013. Adjusted net income was $8.3 million compared to $6.1 million for the second quarter of fiscal 2013. GAAP diluted income per common share was $0.15 compared to $0.07 per share in the second quarter of fiscal 2013. Adjusted diluted income per common share was $0.15 per share compared to $0.11 per share in the second quarter of fiscal 2013. Income before income taxes was $13.3 million against $6.5 million reported last year. Comparable store sales increased by 3.2% for the second quarter of fiscal 2014, as compared to a 6.6% comp increase in the second quarter of 2013. This comp increase was largely driven by transactions. Net sales in the first six months period increased 30.9% to $278.5 million from $212.7 million in the comparable period in fiscal 2013; comparable store sales increased by 4.6%. Operating income was $18.6 million as compared to $10.4 million in the comparable period in fiscal 2013. Adjusted operating income increased to $19.5 million as compared to $14.4 million in the comparable period in fiscal 2013. GAAP net income attributable to common shareholders was $11.4 million compared to $5.6 million in the comparable period in fiscal 2013. Adjusted net income was $11.9 million compared to $8.5 million for the comparable period in fiscal 2013. GAAP, diluted income per common share was $0.21 compared to $0.10 per share in the comparable period in fiscal 2013. Adjusted diluted income per common share was $0.22, compared to $0.16 in the comparable period in fiscal 2013. Income before income taxes was $18.3 million against $9.2 million reported last year. Net cash provided by operating activities was $12.6 million against net cash used in operating activities of $5.7 million reported last year. Capital expenditures were $19.7 million against $15.1 million reported last year. For the third quarter of fiscal 2014, net sales are expected to be in the range of $136 million to $138 million based on opening 12 new stores and assuming a flat to slightly positive comparable store sales. GAAP net income is expected to be in the range of $2.8 million to $3.3 million, with a GAAP diluted income per common share range of $0.05 to $0.06 on approximately 54.7 million estimated diluted weighted average shares outstanding. For fiscal 2014, net sales are expected to be in the range of $681 million to $687 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 $47.2 million to $48.8 million, with a GAAP diluted income per common share of $0.86 to $0.89 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 $47.8 million to $49.3 million, or $0.87 to $0.90 per diluted share based on estimated adjusted diluted weighted average shares outstanding of approximately 54.7 million. The company is rising full year earnings guidance that they provided back in June by $0.01. The company continues to expect relatively flat gross and operating margins for the full year. The company plans to spend CapEx of approximately $36 million in fiscal 2014. The company expects opening 12 new stores in the third quarter of fiscal 2014 and 62 new stores in the full year.

 

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