Five Below, Inc. (FIVE) Q4 Guidance Misses Views

Five Below, Inc. (Nasdaq: FIVE) today updated previously communicated fourth quarter of fiscal 2014 net sales and earnings guidance based on quarter-to-date results for the nine weeks ended January 3, 2015.

The Company announced that net sales for the nine weeks ended January 3, 2015 increased by 24.5% to $230.7 million from $185.3 million in the comparable nine-week period of fiscal 2013, while comparable store sales for this period increased by 3.2% over the comparable period in fiscal 2013, with the increase driven by average ticket. The Company now expects net sales for the fourth quarter of fiscal 2014 to be in the range of $262 million to $263 million, assuming an approximate 3% increase in comparable store sales, and net income to be in the range of $32.5 million to $33.0 million, with a diluted income per common share range of $0.59 to $0.60 on approximately 54.7 million estimated weighted average shares outstanding.

(Street sees Q4 EPS of $0.61 on revenue of $265.75 million)

Thomas Vellios, Co-Founder and CEO, stated: "We saw softness in the business post-Black Friday that continued into early December. Our sales accelerated closer to Christmas and into the post-holiday period, resulting in a comp store sales performance for the nine weeks of +3.2%. Additionally, we continue to see strong performance from our new stores and now expect to deliver total net sales growth for fiscal 2014 of 27% and adjusted net income growth of approximately 30%. We look forward to discussing fiscal 2014 and our outlook for fiscal 2015 on our fourth quarter earnings call in March."

The Company also announced that management will participate in the 17th Annual ICR XChange Conference held at the JW Marriott Orlando Grande Lakes in Orlando, Florida. Management is currently scheduled to present on Tuesday, January 13, 2015 at 9:30 a.m. Eastern Time.

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