five below (FIVE) Key Developments
Five Below, Inc. Approves Amendments to Articles of Incorporation
Jun 24 15
Five Below, Inc. at its Annual Meeting of Shareholders held on June 18, 2015, approved the amendment to the company's articles of incorporation and a corresponding amendment to the company's bylaws to replace the plurality voting standard in the uncontested election of directors with a majority voting
standard and make conforming changes.
Five Below Announces to Open First Stores in Florida
Jun 10 15
Five Below announced its initial entry into Florida with the opening of nine stores on June 12, 2015. It expects to cut the ribbon on approximately 70 new stores this year, on top of opening 62 stores in 2014. Catering to teens, pre-teens and their parents, The company carries an ever-evolving and exciting assortment of cell phone cases and chargers, remote control cars, yoga pants, graphic tees, nail polish, baseball and soccer balls, tons of candy and seasonal must-haves for summer, Back-to-School, Christmas and more. Everything, everyday, is just $5 and below. Its stores are a vibrant, colorful and high-energy destination. With grand openings on June 12, 2015 marking its entry into Florida, Five Below will hold a weekend-long grand opening party. The celebration includes special giveaways and deals, including their famous five-cent hot dogs served in June 12 and June 13, 2015. The company products are grouped into one of eight in-store worlds: Style, Room, Sports, Tech, Crafts, Party, Candy and Now. Five Below's unique assortment features leading brands such as Lego®, Wilson®, Hasbro and Peeps and hot licenses from Disney® and Marvel® such as Frozen, Despicable Me, Avengers and Star Wars. Rounding out the assortment is merchandise packed with quality and value made exclusively for the company. The stores can be found at the following locations: Coconut Point: Coconut Point Shopping Center " 8024 Mediterranean Drive, Estero, FL 33928. Melbourne: Viera Shops " 7171 Lake Andrew Drive, Melbourne FL 32940. Orlando: International Drive Value Center " 5295 Touchstone Drive, Orlando FL 32819. The Crosslands Kissimmee " 630 Centerview Boulevard, Kissimmee FL 34741. Jacksonville: South Beach Regional Shopping Center " 3876-2 South Third Street, Jacksonville Beach, FL 32250. Argyle Village Shopping Center " 6001-62 Argyle Forest Boulevard, Jacksonville FL 32244. Tampa: Lake Walden Square " 115 West Alexander Street, Plant City, FL 33563. Cortez Commons " 12928 Cortez Boulevard, Brooksville, FL 34613. Sarasota: Sarasota Pavilion " 6571 South Tamiami Trail, Sarasota, FL 34321.
Five Below, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Provides Earnings Guidance for Second Quarter and Full Year 2015
Jun 3 15
Five Below, Inc. reported unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company's net sales increased by 22.0% to $153.7 million from $126.0 million in the first quarter of fiscal 2014 and comparable store sales increased by 1.7%. Operating income increased to $7.0 million from $5.3 million in the first quarter of fiscal 2014. Adjusted operating income, which excludes the impact of the founders' transaction in the first quarter of fiscal 2014, increased to $7.0 million from $6.1 million in the first quarter of fiscal 2014. GAAP net income was $4.3 million compared to $3.1 million in the first quarter of fiscal 2014. Adjusted net income, which excludes the impact of the founders' transaction in the first quarter of fiscal 2014, was $4.3 million compared to $3.6 million for the first quarter of fiscal 2014. GAAP diluted income per common share was $0.08 compared to $0.06 in the first quarter of fiscal 2014. Adjusted diluted income per common share, which is adjusted net income on an adjusted diluted weighted average shares outstanding basis in the first quarter of fiscal 2014, was $0.08 per share compared to $0.07 per share in the first quarter of fiscal 2014. Income before income taxes was $7,012,000 against $4,946,000 a year ago. Net cash used in operating activities was $784,000 against $4,113,000 a year ago. Capital expenditures were $10,738,000 against $10,170,000 a year ago. Effective tax rate for the first quarter of 2015 was 39% compared to 37.7% in the first quarter of 2014 as a result of changes in state tax rates.
For the second quarter of fiscal 2015, net sales are expected to be in the range of $182 million to $185 million based on opening 25 new stores and assuming a 4% to 5% increase in comparable store sales. GAAP net income is expected to be in the range of $6.4 million to $7.0 million, with a GAAP diluted income per common share range of $0.12 to $0.13 on approximately 54.8 million estimated diluted weighted average shares outstanding.
For fiscal 2015, net sales are expected to be in the range of $820 million to $828 million based on opening 70 new stores for the full year and assuming an approximate 3% increase in comparable store sales. GAAP net income is expected to be in the range of $56.4 million to $58.2 million, with a GAAP diluted income per common share of $1.03 to $1.06 on approximately 55.0 million estimated diluted weighted average shares outstanding. The company expects effective tax rate for the full year of 2015 to be 37.5%.
Five Below Opens New Distribution Center in Southern New Jersey
Jun 1 15
Five Below, Inc. announced the company will grand open a new distribution center in Oldmans Township, New Jersey. The 1,045,000 square-foot facility, located at 5 Gateway Boulevard, Pedricktown, NJ, will replace the company's existing 421,000 square foot facility located 12 miles away in New Castle, Delaware. Five Below will occupy approximately 700,000 square feet of the facility to start, with plans to grow to a million square feet over time. The new distribution center will support the company's continued growth and expansion in the Eastern U.S. The company will begin shipping out of the new distribution center in July. The property is owned by NFI, a supply chain solutions provider headquartered in Cherry Hill, NJ. All of the current jobs at the New Castle facility will be transferred to the new Pedricktown facility. Additionally, over 100 new jobs are expected to be created over the next few years.
Five Below, Inc. to Report Q1, 2016 Results on Jun 03, 2015
May 20 15
Five Below, Inc. announced that they will report Q1, 2016 results at 5:00 PM, Eastern Standard Time on Jun 03, 2015