Five Below (NASDAQ: FIVE) reported Q4 EPS of $1.97, $0.03 better than the analyst estimate of $1.94. Revenue for the quarter came in at $687.1 million versus the consensus estimate of $687.05 million.

For the fourth quarter ended February 1, 2020:

• Net sales increased 14.0% to $687.1 million from $602.7 million in the fourth quarter of fiscal 2018; comparable sales decreased 2.2%
• The Company opened 6 new stores and ended the quarter with 900 stores in 36 states. This represents an increase in stores of 20.0% from the end of the fourth quarter of fiscal 2018.
• Operating income increased 23.7% to $144.1 million from $116.5 million in the fourth quarter of fiscal 2018.
• The effective tax rate was 23.6% compared to 24.4% in the fourth quarter of fiscal 2018.
• Net income increased 23.7% to $110.4 million from $89.3 million in the fourth quarter of fiscal 2018.
• Diluted income per common share increased 23.9% to $1.97 from $1.59 in the fourth quarter of fiscal 2018. The benefit from share-based accounting was approximately $0.01 in the fourth quarter of both fiscal 2019 and fiscal 2018.

Joel Anderson, President and CEO of Five Below, stated, “Our fourth quarter results were in line with the revised expectations announced in conjunction with our holiday sales release. With six new store openings in the fourth quarter, we were very pleased to complete our planned 150 new stores, and achieve fourth quarter earnings growth of nearly 24%.”

Mr. Anderson continued, “Fiscal 2019 marked our fourteenth consecutive year of positive comps. I am very pleased with our teams’ execution and accomplishments in 2019. We had a very productive year as we mitigated tariffs, opened a record number of new stores and remodels, successfully tested Ten Below concepts, hired key senior executives, upgraded IT systems, and began a multi-year build out of our distribution network. In addition, we made our first financial investments outside of Five Below. We continue to build on our foundation and innovate across the organization, focusing on three key strategic priorities: experience, product and supply chain.”

“With the rapidly evolving COVID-19 situation, the health and safety of our associates and customers is our top priority, and we are taking the necessary steps to address the current environment across our stores, distribution centers and WowTown. As we announced earlier today, all of our stores will be temporarily closed beginning Thursday evening through March 31st. We will be paying our associates through this period. Given the uncertainty related to COVID-19, we are not providing guidance for the first quarter or fiscal 2020 at this time. If not for COVID-19, we would have expected fiscal 2020 to be in line with our 20/20 through 2020 goals,” concluded Mr. Anderson.

Fiscal 2020

Given the uncertainty related to COVID-19, the Company will not be providing guidance for the first quarter or fiscal 2020.

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