This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Five Below Updates Fourth Quarter Guidance Based On Quarter-to-Date Results

Expected Q412 net sales of $169 million to $172 million vs. prior guidance of $167 million to $170 million

Expected GAAP EPS of $0.34-$0.36, unchanged vs. prior guidance

Adjusted EPS of $0.36 - $0.38 vs. prior guidance of $0.35 - $0.37

PHILADELPHIA, Jan. 15, 2013 (GLOBE NEWSWIRE) -- Five Below, Inc. (Nasdaq:FIVE) today updated previously communicated fourth quarter sales and earnings guidance based on quarter-to-date results for the period from October 28, 2012 through January 12, 2013.

The Company announced that total sales for this eleven week period increased 34% to $158.5 million while comparable store sales for this period increased 4.2%.

Thomas Vellios, Co-Founder, President and CEO, stated: "Though our sales results for the quarter-to-date time period were impacted by the effects of Hurricane Sandy in the month of November, we saw improved trends in December and January and believe that customers responded favorably to our compelling merchandise offering and value price points during the key holiday selling season."

Mr. Vellios added, "We are pleased with the overall performance of our fiscal 2012 class of stores. Additionally, fiscal 2013, for which we have planned 60 new stores, will be off to an exciting start with our initial entry into the Texas market, including the Dallas and Austin metropolitan areas."

Outlook

The Company is updating its fourth quarter fiscal 2012 outlook provided in conjunction with the release of its third quarter fiscal 2012 results announced on November 29, 2012:

For the fourth quarter of fiscal 2012, net sales are expected to be in the range of $169 million to $172 million based on opening one new store and an expected 4% increase in comparable store sales. This compares to prior guidance for net sales in the range of $167 million to $170 million. GAAP net income is still expected to be in the range of $18 million to $19 million, with a GAAP diluted income per common share range of $0.34 to $0.36 on approximately 53 million estimated diluted weighted average common shares outstanding. GAAP net income and EPS guidance include an estimated $0.9 million in expenses related to the pending secondary public offering announced today and $0.9 million in tax-effected expenses related to the founders' transaction. (1) Excluding the anticipated offering expenses and the expenses related to the founders' transaction, which together represent $0.03 per adjusted diluted share, net income is expected to be approximately $20 million to $21 million, or $0.36 to $0.38 per diluted share based on estimated adjusted diluted weighted average common shares outstanding of approximately 54.4 million. This compares to prior guidance for adjusted net income in the range of $19 million to $20 million, or $0.35 to $0.37 per diluted share based on estimated adjusted diluted weighted average common shares outstanding of approximately 54.4 million.

(1)   Founders' transaction relates to the amortization of expense for options granted to the Company's founders in Fiscal 2010 and their modification in March 2012, which cancelled the Fiscal 2010 option award to purchase 2,020,620 shares of common stock and granted an equal number of restricted shares that vest through March 2014.

Stock quotes in this article: FIVE 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs