Business
Five Below, Inc. Announces Fourth Quarter and Fiscal 2021 Financial Results; Provides Long-Term "Triple-Double" Vision at Investor Day 2022
Q4 Net Sales Increase of 16%; Q4 Comparable Sales Increase of 3.4% Q4 EPS increase of 13% to $2.49 Increases U.S. store potential to 3,500+ or triple current
About this update from Five Below, Inc.
[{"type":"text","content":"Q4 Net Sales Increase of 16%; Q4 Comparable Sales Increase of 3.4% Q4 EPS increase of 13% to $2.49 Increases U.S. store potential to 3,500+ or triple current level Plans to double sales and more than double EPS through 2025 PHILADELPHIA, PA, March 30, 2022 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the fourth quarter and full year of fiscal 2021 ended January 29, 2022, outlook for fiscal 2022 and its long-term vision at Investor Day 2022. Joel Anderson, President and CEO of Five Below, stated, “We were very pleased with our fourth quarter results that capped off a record year. We delivered sales growth in line with our expectations against the difficult comparison to last year's stimulus-fueled comparable sales increase of 13.8%, and despite the impact of weather in January. The strength was broad-based, with Sports, Candy, Seasonal and Style worlds outperforming.” Mr. Anderson continued, “Looking ahead to 2022, we will continue to play offense and focus on innovation and experience as we navigate a dynamic macro environment related to the lingering impacts of the pandemic. We are excited to grow our new Beyond store prototype, expand categories and pilot new services to further enhance the customer experience. Our expectations for fiscal 2022 are embedded in our new long-term vision.” Mr. Anderson concluded, \"We are excited to share this long-term vision today, referred to as ‘Triple-Double.’ We are increasing our store potential in the U.S. from 2,500+ to 3,500+, or triple our current store count, and we are planning to double our sales and more than double our EPS through fiscal 2025. We expect to open approximately 1,000 stores during this time, including 375 to 400 new stores over the next two fiscal years. Our teams remain dedicated to delivering high growth while executing against our key strategic initiatives within product, experience and supply chain, all while maintaining financial discipline and always placing the customer at the center of our decision-making.\" For the fourth quarter ended January 29, 2022: Net sales increased by 16.1% to $996.3 million from $858.5 million in the fourth quarter of fiscal 2020; comparable sales increased by 3.4% versus the fourth quarter of fiscal 2020.The Company opened 17 new stores and ended the quarter with 1,190 stores in 40 states...