Finanzas: Five Below, Inc. Announces Second Quarter Fiscal 2016 Financial Results

 

Q2 sales increased 21% to $220.1 million

Q2 EPS increased 38% to $0.18

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Raises full year fiscal 2016 guidance

Five Below, Inc. (NASDAQ:FIVE) today announced financial results for the thirteen and twenty-six weeks ended July 30, 2016.

For the thirteen weeks ended July 30, 2016:

Net sales increased by 20.8% to $220.1 million from $182.2 million in the second quarter of fiscal 2015; comparable store sales increased by 3.1%.

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Operating income increased by 36.0% to $15.7 million from $11.6 million in the second quarter of fiscal 2015.

The Company opened 33 new stores and ended the quarter with 491 stores in 30 states. This represents an increase in stores of 17.7% from the end of the second quarter of fiscal 2015.

Net income was $9.8 million compared to $7.1 million in the second quarter of fiscal 2015.

Diluted income per common share was $0.18 compared to $0.13 per share in the second quarter of fiscal 2015.

Joel Anderson, CEO of Five Below, stated: “We are pleased with our second quarter results as we delivered sales and earnings per share ahead of our guidance ranges. Continued strength in new store performance and our 41st consecutive quarter of positive comp growth were accompanied by operating margin expansion resulting in a 38% increase in earnings per share. Our results once again demonstrate the consistency of Five Below (FIVE) and given our first half performance, we are raising our full year guidance.”

Mr. Anderson continued, “We have also made good progress against our strategic initiatives. Some notable developments include the initial launch of our e-commerce platform and the hiring of key team members to further strengthen Five Below’s capabilities for the long runway of growth that lies ahead. As we look to the second half, we are excited about our merchandising and marketing plans for the all-important holiday season and our teams are focused on continued execution for our customers and our shareholders.”

For the twenty-six weeks ended July 30, 2016:

Net sales increased by 22.9% to $412.8 million from $335.9 million in the comparable period of fiscal 2015; comparable store sales increased by 3.9%.

Operating income increased to $26.5 million from $18.6 million in the comparable period of fiscal 2015.

The Company opened 54 new stores compared to 51 new stores opened in the comparable period in fiscal 2015.

Net income was $16.6 million compared to $11.3 million in the comparable period of fiscal 2015.

Diluted income per common share was $0.30 compared to $0.21 per share in the comparable period of fiscal 2015.

Third Quarter and Fiscal 2016 Outlook:

For the third quarter of fiscal 2016, net sales are expected to be in the range of $199 million to $202 million based on opening 25 new stores and assuming a 1% to 2% increase in comparable sales. Net income is expected to be in the range of $4.7 million to $5.3 million, with a diluted income per common share range of $0.09 to $0.10 on approximately 55.2 million estimated diluted weighted average shares outstanding.

For fiscal 2016, net sales are expected to be in the range of $1,000 million to $1,009 million based on opening 85 new stores for the full year and assuming an approximate 3% increase in comparable sales. Net income is expected to be in the range of $70.4 million to $72.7 million, with a diluted income per common share of $1.28 to $1.32 on approximately 55.3 million estimated diluted weighted average shares outstanding.

About Five Below:

Five Below is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below, including select brands and licensed merchandise across a number of category worlds: Style, Room, Sports, Tech, Crafts, Party, Candy, and Now. Five Below is headquartered in Philadelphia, Pennsylvania. For more information, visit www.fivebelow.com

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Fuente: Seeking Alpha


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