Five Below, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 2, 2013; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2013; Revises Earnings Guidance for the Full Year of Fiscal 2013
Dec 5 13
Five Below, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended November 2, 2013. For the quarter, the company reported net sales of $110,747,000 compared to net sales of $86,587,000 for the same period a year ago. Operating income was $3,021,000 compared to $1,841,000 last year. Income before income taxes was $2,700,000 compared to $1,284,000 last year. Net income attributable to common shareholders was $1,656,000 million or $0.03 per basic and diluted share compared to $710,000 or $0.01 per basic and diluted share last year. Adjusted operating income was $4,536,000 compared to $3,356,000 last year. Adjusted net income was $2,593,000 or $0.05 per diluted share compared to $1,589,000 or $0.03 per diluted share last year.
For the nine months, the company reported net sales of $323,438,000 compared to net sales of $245,236,000 for the same period a year ago. Operating income was $13,396,000 compared to $4,611,000 last year. Income before income taxes was $11,907,000 compared to $1,446,000 last year. Net income attributable to common shareholders was $7,206,000 or $0.14 per basic and diluted share compared to net loss attributable to common shareholders of $64,584,000 or $2.21 per basic and diluted share last year. Net cash used in operating activities was $17,298,000 compared to $23,847,000 last year. Capital expenditures were $21,758,000 compared to $17,442,000 last year. Adjusted operating income was $18,941,000 compared to $13,893,000 last year. Adjusted net income was $11,109,000 or $0.20 per diluted share compared to $6,076,000 or $0.11 per diluted share last year.
For the fourth quarter of fiscal 2013, net sales are expected to be in the range of $214 million to $217 million assuming a 4% increase in comparable store sales. GAAP net income is expected to be in the range of $25.9 million to $27.0 million, with a GAAP diluted income per common share range of $0.48 to $0.50 on approximately 54.0 million estimated weighted average shares outstanding. Excluding $0.9 million, or $0.02 per adjusted diluted share in tax-effected expenses related to the founders' transaction, adjusted net income is expected to be approximately $26.8 million to $27.9 million, or $0.49 to $0.51 per diluted share based on estimated adjusted diluted weighted average shares outstanding of approximately $54.7 million.
For the fiscal 2013, net sales are expected to be in the range of $538 million to $541 million based on 304 stores and assuming a 5% increase in comparable store sales. This compares to prior guidance for fiscal 2013 net sales in the range of $531 million to $536 million and comparable store sales increase of 5%. GAAP net income is expected to be in the range of $33.2 million to $34.3 million, with a GAAP diluted income per common share of $0.62 to $0.64 on approximately 53.8 million estimated weighted average shares outstanding. That's compared to prior guidance of $0.60 to $0.63. Excluding $4.7 million, or $0.09 per adjusted diluted share in tax-effected expenses related to the founders' transaction and the costs associated with the secondary public offering, adjusted net income is expected to be in the range of $37.9 million to $39.0 million, or $0.70 to $0.72 per diluted share based on estimated adjusted diluted weighted average shares outstanding of approximately $54.6 million as compared to prior guidance of $0.68 to $0.71. Full year guidance assumes an effective tax rate of approximately 38.7%, driven by a lower state effective tax rate resulting from the business restructuring it undertook in the second quarter.
Five Below, Inc. to Report Q3, 2013 Results on Dec 05, 2013
Nov 21 13
Five Below, Inc. announced that they will report Q3, 2013 results at 5:00 PM, Eastern Standard Time on Dec 05, 2013
Five Below, Inc., Q3 2013 Earnings Call, Dec 05, 2013
Nov 21 13
Five Below, Inc., Q3 2013 Earnings Call, Dec 05, 2013
Five Below Releases its Annual List of the Hottest Teen Gifts
Nov 4 13
Five Below released its annual list of the Hottest Teen Gifts for $5 (or Less!). This year's list contains can't-miss gifts in audio, fashion, and other current trends, ensuring customers get their family and friends the perfect gifts while staying on budget this holiday season. The 2013 Hottest Teen Gifts for $5 (or Less!) is viewable online at http://viewer.zmags.com/publication/0ee5c2a9. It includes: 1. Blast speaker ($5). Big sound and style from a small speaker! This gift, exclusive to Five Below, is perfect for a college dorm room or bedroom. The blast speaker is compatible with any smartphone or MP3 player and comes in tons of styles and colors; 2. Mega candy banks ($5). Standing 18 inches tall, these coin banks come chock full of sweets. Choose from new flavors like Big League Chew(R) or long-time favorites, such as Smarties(R), WARHEADS(R), Airheads(R), or Mike and Ike(R). Found only at Five Below; 3. Full-size rubber band loom ($5). This full-size loom with 300 bands, 12 clasps, full-size hook, and instructions enables teens to jump headfirst into the hottest bracelet making trend this season. This gift is exclusive to Five Below and is an unbeatable bang for user buck, which means it will fly off the shelves, so shop early!; 4. Character ornaments ($5). Deck the halls and trim the tree this season with ornaments from popular brands like My Little Pony(R), M&M'S(R), Power Rangers(TM), Mr. Potato Head(R), the Annoying Orange(TM), and more; 5. DJ-style headphones ($5). These headphones feature amazing sound quality, over-the-ear design, pivoting ear cups, and soft, closed-ear cushions. Plus, they're available in a variety of styles and colors; 6. iPhone(R) and Samsung Galaxy(R) two-ply tuff cases ($5). Shock-absorbent silicone and a protective hard shell safeguard iPhone 4, iPhone 4S, iPhone 5, iPhone 5S, Galaxy S III, and Galaxy S4 from bumps and drops; 7. Infinity scarves ($5). Warmth and comfort meet style in this ultimate winter accessory. Choose from dozens of prints and colors to complete the perfect outfit; 8. Bare and smoky eye palettes ($5). The perfect eye shadow shades to take user from daytime casual to nighttime chic; 9. Three-piece bath and body gift set ($4). Pamper friends and family with this value pack of scented shower gel, body lotion, and body scrub. Gift set includes 5.7 fluid ounces of each. Choose from yummy flavors like candy coated apple or vanilla sugar; 10. Wham-O(R) remote control monster trucks and rad racers ($5). Get ready for off-road racing action with a full function controller. Only available at Five Below. Five Below carries the latest products and trends in fashion, beauty, electronics accessories, toys, games, arts and crafts, and more--all for $1 to $5. Its 300+ stores span 19 states and include new locations in Austin and Dallas.