Five Below, Inc. Announces Sales Results for the Quarter to Date Period from October 28, 2012 Through January 12, 2013; Revised Earnings Guidance for the Fourth Quarter of Fiscal 2012
January 15, 2013 at 04:28 pm EST
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Five Below, Inc. announced that total sales for this eleven week period increased 34% to $158.5 million while comparable store sales for this period increased 4.2%.
For the fourth quarter of fiscal 2012, net sales are expected to be in the range of $169 million to $172 million based on opening one new store and an expected 4% increase in comparable store sales. This compares to prior guidance for net sales in the range of $167 million to $170 million. GAAP net income is still expected to be in the range of $18 million to $19 million, with a GAAP diluted income per common share range of $0.34 to $0.36. GAAP net income and EPS guidance include an estimated $0.9 million in expenses related to the pending secondary public offering announced on January 15, 2013 and $0.9 million in tax-effected expenses related to the founders' transaction. Excluding the anticipated offering expenses and the expenses related to the founders' transaction, which together represent $0.03 per adjusted diluted share, net income is expected to be approximately $20 million to $21 million, or $0.36 to $0.38 per diluted share based on estimated adjusted diluted weighted average common shares outstanding of approximately 54.4 million. This compares to prior guidance for adjusted net income in the range of $19 million to $20 million, or $0.35 to $0.37 per diluted share based on estimated adjusted diluted weighted average common shares outstanding of approximately 54.4 million.
Five Below, Inc. is a specialty value retailer offering merchandise targeted at the tween and teen demographic. Its assortment of products, including select brands and licensed merchandise. It is engaged in offering a group of products, including leisure, fashion and home, and snack and seasonal. Leisure includes items, such as sporting goods, games, toys, tech, books, electronic accessories, arts and crafts, and party. Fashion and home include items, such as personal accessories, attitude t-shirts, beauty offerings, home goods and storage options. Snack and seasonal include items, such as seasonal goods, greeting cards, candy and other snacks, and beverages. It also offers its merchandise on the Internet, through its fivebelow.com e-commerce Website, offering home delivery and the option to buy online and pick up in store. It also sells its merchandise through on-demand third-party delivery services to enable its customers to shop online and receive convenient delivery.
Five Below, Inc. Announces Sales Results for the Quarter to Date Period from October 28, 2012 Through January 12, 2013; Revised Earnings Guidance for the Fourth Quarter of Fiscal 2012