Boston, MA 03/26/2014 (wallstreetpr) – Five Below Inc. (NASDAQ:FIVE) has been one of the top gainers in Wednesday intraday trading session, after the company reported impressive results for the fourth quarter and full year ending February 1, 2014. The company registered impressive results for the fourth quarter despite facing adverse weather conditions during its most impressive shopping weeks where it has always made a killing in terms of increased sales.
Five Below has already positioned itself to deliver excitement to its customers with high quality products. New stores have been impressive, generating impressive returns in terms of sales and providing good returns on investments.
Five Below Stock up by 16%
The impressive results for the fourth quarter has seen the company’s stock surge by highs of 16% in intraday trading session attributed to a growth of 31% in total profits, which came in at 24.5 million for the year.
The discount retailer reported adjusted profits of 47 cents a share at the back of $212 million in revenue. This was an improvement considering analysts estimates stood at 45 cents a share at the back of revenue amounting to $207.8 million.
Five Below Opening New Stores
Five Below Inc. (NASDAQ:FIVE) has planned to open an additional 62 new stores this year, spread across markets like Houston and Tennessee. These markets have proved overtime to be highly reliable in terms of sales while also allowing for densification of opportunities. The opening of 62 new stores will mark another milestone considering the company opened 60 stores in 2013 and 52 in 2012.
The opening of the new centers is expected to further boost the 27.8% growth in sales that was registered in 2012. Five Below’s full year sales were up coming in at $535.4 million compared to $418.8 million reported in 2012.
First quarter& Full Year outlook
Five Below Inc. (NASDAQ:FIVE) expects net sales for the first quarter to come in the range of between $120 million and $122 million. The opening of 14 new stores in the quarter is expected to result in a 3% to 4% growth in comparable store sales. The company also expects full year profit of between 86 cents and 89 cents a share.
