Retail company Five Below reported fiscal-fourth-quarter net income that came in higher than analysts’ expectations.
For the quarter ended Jan. 30, Five Below earned $2.20 a share compared with $1.97 a share in the year-earlier quarter. Analysts surveyed by FactSet had forecasted GAAP earnings of $2.12 a share .
Net sales reached $858.5 million from $687.1 million, while analysts’ estimates for revenue were $839.3 million.
The company’s same-store sales increased +13.8%, compared to analysts’ expectations of +10.9%.
For the first quarter, Five Below is projecting earnings of 56 to 68 cents a share, compared to the FactSet consensus estimate of 36 cents, or an adjusted 40 cents.
Five Below expects revenue at $540 million to $560 million, vs. FactSet's forecast of $442 million.
Joel Anderson, president and chief executive, revealed plans to open 170 to 180 new stores. The company is also boosting its distribution-center network by adding an Arizona facility this year.