Business
Five Below, Inc. Announces Fourth Quarter and Fiscal 2019 Financial Results
Q4 net sales increased 14% to $687 million Q4 EPS increased 24% to $1.97 PHILADELPHIA, PA, March 18, 2020 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE)
About this update from Five Below, Inc.
[{"type":"text","content":"Q4 net sales increased 14% to $687 million\n Q4 EPS increased 24% to $1.97 PHILADELPHIA, PA, March 18, 2020 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the fourth quarter and full year of fiscal 2019 ended February 1, 2020. For the fourth quarter ended February 1, 2020: Net sales increased 14.0% to $687.1 million from $602.7 million in the fourth quarter of fiscal 2018; comparable sales decreased 2.2%The Company opened 6 new stores and ended the quarter with 900 stores in 36 states. This represents an increase in stores of 20.0% from the end of the fourth quarter of fiscal 2018.Operating income increased 23.7% to $144.1 million from $116.5 million in the fourth quarter of fiscal 2018.The effective tax rate was 23.6% compared to 24.4% in the fourth quarter of fiscal 2018.Net income increased 23.7% to $110.4 million from $89.3 million in the fourth quarter of fiscal 2018.Diluted income per common share increased 23.9% to $1.97 from $1.59 in the fourth quarter of fiscal 2018. The benefit from share-based accounting was approximately $0.01 in the fourth quarter of both fiscal 2019 and fiscal 2018. For the fiscal year ended February 1, 2020: Net sales increased 18.4% to $1,846.7 million from $1,559.6 million in fiscal 2018; comparable sales increased 0.6%.The Company opened 150 new stores compared to 125 net new stores opened in fiscal 2018.Operating income increased 16.1% to $217.3 million from $187.2 million in fiscal 2018.The effective tax rate was 21.0% compared to 22.0% in fiscal 2018.Net income increased 17.0% to $175.1 million from $149.6 million in fiscal 2018.Diluted income per common share increased 17.3% to $3.12 from $2.66 in fiscal 2018. The benefit from share-based accounting was approximately $0.14 in fiscal 2019 compared to $0.09 in fiscal 2018. Joel Anderson, President and CEO of Five Below, stated, “Our fourth quarter results were in line with the revised expectations announced in conjunction with our holiday sales release. With six new store openings in the fourth quarter, we were very pleased to complete our planned 150 new stores, and achieve fourth quarter earnings growth of nearly 24%.” Mr. Anderson continued, “Fiscal 2019 marked our fourteenth consecutive year of positive comps. I am very pleased with our teams’ execution and accomplishments in 2019. We had a very ...