Five Below Says Holiday Sales Rose 4.1%, Boosts Outlook
January 07 2016 - 5:40PM
Dow Jones News
By Chelsey Dulaney
Five Below Inc. said its core sales rose 4.1% during the crucial
holiday shopping season, prompting the company to boost its
guidance for the fourth quarter.
The discount retailer said its total sales, which include newly
opened stores, jumped 24% to $286.1 million for the nine weeks
ended Jan. 2.
For its fourth quarter, Five Below is now expecting sales of
$323 million to $326 million, compared with its December guidance
of $318 million to $323 million in revenue. It edged up the bottom
end of its per-share earnings guidance by a penny, to a range of 75
cents to 76 cents a share.
Five Below joins a number of companies in reporting core sales
growth for the holiday period, easing some investor concerns about
the year's most important selling period despite weak results from
big names like Macy's Inc. and Gap Inc.
Retailers faced several obstacles going into the season.
Customer traffic fell at many stores and malls, as more sales moved
online. Also, shoppers continued to search for discounts, forcing
retailers to offer promotions and potentially face lower
profits.
The full picture of the holiday season remains uncertain,
however, as many large retailers--such as Wal-Mart Stores Inc.
Target Corp. and Amazon.com Inc.--haven't broken out their holiday
sales.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
(END) Dow Jones Newswires
January 07, 2016 17:25 ET (22:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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