Originally published at www.seclive.com
Filing in Focus: Five Below 8-K, September 9, 2013
Five Below, Inc. (NASDAQ:FIVE) reported its quarterly profits more than tripled from this quarter a year ago to $4.1M. Company sales increased 35% to $117.1M while its profit jumped from $1.2M to $4.1M. Five Below's previous annual guidance was an earnings per share range of $0.65 to $0.68, with sales between $524M and $529M. The company increased its guidance to between $0.68 and $0.71 earnings per share on sales of $531M to $536M. Five Below beat its own expectations all-around, including same-store sales predictions, which increased to 5.4%, beating the 4% to 5% expectation. CEO Thomas Vellios remarked that the company had a strong quarter across nearly all of its product lines and has opened more than half of the 60 planned new stores for 2013.
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