Business
Five Below, Inc. Announces Holiday Sales Results for Quarter-To-Date Through January 2, 2021
Net Sales Increased 21.1%; Comparable Sales Increased 10.1% Strongest Holiday Comparable Sales Increase Since 2011 PHILADELPHIA, PA, Jan. 12, 2021 (GLOBE
About this update from Five Below, Inc.
[{"type":"text","content":"Net Sales Increased 21.1%; Comparable Sales Increased 10.1% Strongest Holiday Comparable Sales Increase Since 2011 PHILADELPHIA, PA, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) (\"Five Below\" or the \"Company\") today announced net sales results for the quarter-to-date period from November 1, 2020 through January 2, 2021 (\"Holiday Period\"). The Company announced that net sales for the Holiday Period increased by 21.1% to $722.3 million from $596.6 million in the comparable nine-week period from November 3, 2019 through January 4, 2020. Comparable sales for the Holiday Period increased by 10.1%. Joel Anderson, President and CEO, said, “We are very pleased with our holiday sales performance, which surpassed our expectations. These strong results illustrate the broad appeal of our Wow offering at amazing values as well as the inherent flexibility of our model and merchandise offering. We featured extreme value products, as well as Wow gifts in our expanded Five Beyond offering, all of which resonated with customers. These sales results were accompanied by gross margins that were in line with our expectations and SG&A leverage that was stronger than planned.” Mr. Anderson continued, “As we close out a very strong quarter and unprecedented year, I want to extend our deepest gratitude to our teams across the organization who executed with excellence while maintaining a focus on safety throughout our peak holiday season. We look forward to continuing our growth and to discussing our 2020 results and plans for 2021 on our year-end call in March.” The Company is providing the following guidance for the fourth quarter and fiscal year 2020: Fourth Quarter Fiscal 2020 Guidance Net sales of $835 million to $840 million, or growth of 21.5% to 22.2%Comparable sales increase of approximately 11.0%Diluted income per common share of $2.08 to $2.12 on approximately 56.2 million estimated diluted weighted average shares outstanding Full Year Fiscal 2020 Guidance Net sales of $1.939 billion to $1.944 billion, or growth of 5.0% to 5.2%Comparable sales decrease of approximately 6.5%Diluted income per common share of $2.07 to $2.11 on approximately 56.2 million estimated diluted weighted average shares outstanding As previously announced, management is scheduled to participate in a fireside chat today at 10:30 a.m. Eastern Time...