Five Below (FIVE) Tops Q1 EPS by 2c, Offers Q2 Guidance

Five Below (NASDAQ: FIVE) reported Q1 EPS of $0.12, $0.02 better than the analyst estimate of $0.10. Revenue for the quarter came in at $192.7 million versus the consensus estimate of $188.01 million.

• comparable store sales increased by 4.9%.

Joel Anderson, CEO stated: “We are very pleased with our first quarter results that once again demonstrate the universal appeal of Five Below and the disciplined execution of our key initiatives. Our top-line outperformance was driven by continued strength at both our new and existing stores. This marks our 40th consecutive quarter of positive comparable store sales growth and we delivered a 50% increase in earnings per share driven by our ability to leverage our fixed costs on our strong comp and new store performance.”

Mr. Anderson continued, “We are reiterating our previously provided outlook for fiscal 2016. We are very encouraged by the strong start in the first quarter and the momentum that we have built as our teams continue to work to deliver exciting assortments, compelling marketing campaigns and an engaging in-store experience that continues to resonate with our customers.”

GUIDANCE:

Five Below sees Q2 2016 EPS of $0.16-$0.17, versus the consensus of $0.17. Five Below sees Q2 2016 revenue of $216-219 million, versus the consensus of $219.1 million.

• For fiscal 2016, the Company continues to expect net sales to be in the range of $995 million to $1,005 million based on opening 85 new stores for the full year and assuming an approximate 3% increase in comparable store sales. Net income is expected to be in the range of $69.9 million to $72.2 million, with a diluted income per common share of $1.27 to $1.31 on approximately 55.3 million estimated diluted weighted average shares outstanding.

For earnings history and earnings-related data on Five Below (FIVE) click here.

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