After the bell, shares had added 14.1% to $43.37.
The discounts chain reported net income of 47 cents a share, 2 cents higher than analyst averages compiled by Thomson Reuters. Net profits of $24.8 million came in slightly higher than estimates of $24.6 million.
Quarterly sales jumped to $212 million, a 22.1% year-over-year increase, beating analysts' expectations for $207.78 million in sales.
"Despite the adverse weather impact during the most important shopping weeks of the year, we are pleased to have ended the fourth quarter with improving trends," said CEO Thomas Vellios in a statement.
For its first quarter ending April, the Philadelphia-based business expects sales between $120 million and $122 million, assuming a 3% to 4% increase in comparable-store sales. Adjusted net income is expected in the range of 5 cents to 6 cents a share.
Over the fiscal year ending January 2015, revenue is forecast between $672 million and $678 million and net income of 86 cents to 89 cents a share. Analysts had guided for full-year sales of $673.37 million and profits of 87 cents a share.
"We expect 2014 to be an exciting year for Five Below. Our new stores continue to generate strong performance and returns on investment. We have 62 openings planned this year across new markets like Houston and the state of Tennessee, as well as existing markets that allow for densification opportunities," added Vellios.