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Actionable news in FIVE: Five Below, Inc.,

Five Below, Inc. Announces Third Quarter Fiscal 2015 Financial Results

The following excerpt is from the company's SEC filing.

Q3 sales increased

$169.7 million

Q3 EPS increased to

Guides Q4 2015 EPS to

PHILADELPHIA

– Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the

thirteen and thirty-nine weeks ended

October 31, 2015

For the

thirteen weeks ended

Net sales

$138.0 million

in the

third quarter

fiscal 2014

; comparable store sales increased by

Operating income increased to

$7.0 million

$5.5 million

The Company opened

net new stores and en ded the quarter with

stores in

states. This represents an increase in stores of

from the end of the

U.S. generally accepted accounting principles, or GAAP, net income was

$4.3 million

compared to

$3.3 million

GAAP diluted income per common share was

per share in the

Joel Anderson, CEO, stated: "We are very pleased to report third quarter financial results that came in ahead of our expectations. Continued strength in the performance of our new stores and above-plan comp results were driven by our compelling assortment of trend-right products at a great value that resonated with customers."

Mr. Anderson continued, “We have been in preparation mode for the fourth quarter all year and believe we are well-positioned for the peak holiday weeks that lie ahead. Our teams have planned exciting marketing campaigns to highlight a great holiday product assortment, which we believe will deliver ample newness and "wow" for our customers and reinforce our position as a destination for holiday shopping.”

$505.6 million

$416.5 million

in the comparable period in

Operating income was

$25.6 million

$24.1 million

. Adjusted operating income, which excludes the impact of the founders’ transaction in the first quarter of fiscal 2014 (see GAAP/Non-GAAP reconciliation table), increased to

as compared to

$24.9 million

net new stores compared to

new stores opened in the comparable period in

GAAP net income was

$15.7 million

$14.7 million

. Adjusted net income, which excludes the impact of the founders’ transaction in the first quarter of fiscal 2014 (see GAAP/Non-GAAP reconciliation table), was

$15.2 million

for the comparable period in

per share in the comparable period in

. Adjusted diluted income per common share, which is adjusted net income on an adjusted diluted weighted average shares outstanding basis in the

November 1, 2014

per share compared to

Balance sheet highlights as of

Cash and cash equivalents:

$18.1 million

Total liquidity (cash and cash equivalents plus availability on a $20 million revolver facility):

$38.1 million

Fourth Quarter and Fiscal 2015 Outlook:

For the fourth quarter of fiscal 2015, net sales are expected to be in the range of

$318 million

$323 million

based on opening

net new stores and assuming a

increase in comparable store sales. GAAP net income is expected to be in the range of

$40.8 million

$41.9 million

, with a GAAP diluted income per common share range of

on approximately

55.0 million

estimated diluted weighted average shares outstanding.

For fiscal 2015, the Company has raised the low end of its expected net sales range. Net sales are now expected to be in the range of

$823 million

$828 million

net new stores for the full year and assuming an approximate

increase in comparable store sales. The Company is also narrowing its earnings outlook for fiscal 2015. GAAP net income is now expected to be in the range of

$56.4 million

$57.5 million

, with a GAAP diluted income per common share of

Conference Call Information:

A conference call to discuss the third quarter fiscal 2015 financial results is scheduled for today, December 3, 2015, at 4:30 p.m. Eastern Time. Investors and analysts interested in participating in the call are invited to dial 877-627-6581 (international callers please dial 719-325-4923) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available online at investor.fivebelow.com in the investor relations section of the website.

A taped replay of the conference call will be available within two hours of the conclusion of the call and can be accessed both online and by dialing 877-870-5176 (international callers please dial 858-384-5517). The pin number to access the telephone replay is 4167755. The replay will be available until December 10, 2015.

Non-GAAP Information:

This press release includes non-GAAP adjusted operating income, adjusted net income...


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