Net sales increased 20.6%; Comparable sales increased 7.7%
PHILADELPHIA, PA, January 10, 2022 (GLOBE NEWSWIRE) – Five Below, Inc. (NASDAQ: FIVE) (“Five Below” or the “Company”) today announced net sales results for the October 31 quarter 2021 to January 1, 2022 (“Holiday period”).
The company announced that net sales for the holiday season increased 20.6% to $ 870.9 million, from $ 722.3 million for the comparable nine-week period from November 1, 2020 to January 2. 2021. Comparable sales for the holiday season increased 7.7%.
Joel Anderson, President and CEO, said: “It has been an exceptional vacation for Five Below, with same-store sales growth of 7.7% on top of a record 10.1% last year, resulting in the highest two-year comparable sales growth rate for the holidays. season since its IPO. The performance was broad, with trending elements like Sensory and Squishmallows® being key contributors. Given this performance, we are delighted to move our forecast closer to the upper bound of our previously provided forecast ranges for sales, builds and EPS, all of which envisioned comparison to January of last year, fueled by stimulus measures. “
Mr. Anderson continued, “I want to thank our teams across the company who have remained nimble and proactive in sourcing Wow gift items and stocking stuffers for our customers and have effectively managed the flow of products. in a dynamic supply chain context. We look forward to continuing to grow our store base, reinvest in our merchandise and innovate digitally, while increasing brand awareness, increasing operational efficiency and leveraging our advantages of scale.
The forecasts previously provided by the Company for the fourth quarter and full year of fiscal 2021 are presented below. The company is now heading towards the top of those ranges.
Guidance for the fourth quarter of fiscal 2021
Net sales of $ 985 million to $ 1,005 million or 17.1% growth in the high-end segment
Comparable store sales increase of approximately 2% to 4%
Diluted earnings per common share of $ 2.36 to $ 2.48 on approximately 56.4 million estimated diluted weighted average shares outstanding
Orientations for the 2021 financial year
Net sales of $ 2,837 million to $ 2,857 million or 45.6% growth in high-end
Comparable sales increase of approximately 30%
Diluted earnings per common share of $ 4.82 to $ 4.94 on approximately 56.4 million estimated diluted weighted average shares outstanding
As previously announced, management is expected to participate in a fireside chat today at 10:00 am EST at the ICR 2022 conference. The event will be webcast live at http://investor.fivebelow.com. An archived replay will be available two hours after the end of the live event.
This press release contains 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 opinions, estimates and advice regarding the industry, business strategy, objectives and expectations of the Company regarding its market position, future operations, margins, profitability, capital expenditures, liquidity and resources capital and other financial and operational information. Investors can identify these statements by the fact that they use words such as “anticipate”, “assume”, “believe”, “continue”, “could”, “estimate”, “expect”, “have”. ‘intention’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘future’ and similar terms and expressions. The Company cannot guarantee investors that future developments affecting the Company will be those it has anticipated. Actual results may differ materially from these expectations due to the risks and uncertainties associated with the COVID-19 pandemic (including additional government restrictions and requirements, additional store closures and effects on customer demand or our supply chain, our ability to keep our distribution centers and e-commerce distribution centers operational, our ability to operate efficiently and remain open in some or all of our stores, and to open new stores and renovate), risks related to disruption of the global supply chain, risks related to the strategy and expansion of the Company plans, risks related to the inability to successfully implement our retail operations online, including cybersecurity risks, risks related to our ability to select, obtain, distribute and market merchandise in a cost-effective manner, the risks associated with our reliance on merchandise manufactured outside the United States, the availability of suitable new store locations and dependence on the volume of traffic to our stores, the risks associated with changes in consumer preferences and economic conditions, risks related to increased operating costs including wage rates, risks related to extreme weather conditions, pandemic epidemics (in addition to COVID-19) , world political events, war, terrorism or civil unrest (including store closures, resulting damage or loss of inventory), risks associated with the rental, possession or construction of distribution centers, risks related to our ability to successfully manage inventory balance and reduction in inventory, quality or safety issues regarding merchandise es, increased competition from other retailers, including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand and other intellectual property, risks related to customer payment methods, related risks domestic and foreign trade restrictions, including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among other things, the direct and indirect impact of current and potential tariffs imposed and proposed by the United States on foreign imports, the risks associated with restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax laws and accounting standards and the risks associated with the leasing of significant space. For more 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 provided 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 to be incorrect, the Company’s actual results may differ in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this press release speaks only as of the date on which the Company makes it. Factors or events that could cause the actual results of the Company to differ may arise from time to time and it is not possible for the Company to predict all of them. The Company assumes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable securities laws.
About five below:
Five Below is a leading high-growth, high-value-added retailer offering high-quality, high-quality products loved by tweens, teens and beyond. We believe life is better when guests are free to “let loose and have fun” in an amazing experience filled with limitless possibilities. With most items priced between $ 1 and $ 5, and some extreme value items over $ 5 in our amazing Five Beyond offer, Five Below makes it easy to say YES! to the latest and coolest content in eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy, and New & Now. Founded in 2002 and headquartered in Philadelphia, Pa., Five Below today has nearly 1,200 stores in 40 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, Twitter and Facebook @FiveBelow.
Five below, Inc.
Vice-President, Investor Relations and Treasury