2023-06-01 16:04:39 ET
- Five Below press release ( NASDAQ: FIVE ): Q1 GAAP EPS of $0.67 beats by $0.04 .
- Revenue of $726.25M (+13.5% Y/Y) misses by $1.96M .
- Comparable sales increased by 2.7% versus the first quarter of fiscal 2022.
- The Company opened 27 new stores and ended the quarter with 1,367 stores in 43 states. This represents an increase in stores of 11.6% from the end of the first quarter of fiscal 2022.
- Q2 Outlook: Net sales are expected to be in the range of $755 million to $765 million based on opening approximately 40 new stores and assuming an approximate 2% to 3% increase in comparable sales.
- Net income is expected to be in the range of $44 million to $48 million.
- Diluted income per common share is expected to be in the range of $0.80 to $0.85 on approximately 55.9 million diluted weighted average shares outstanding.
- 2023 Outlook: Net sales are expected to be in the range of $3.50 billion to $3.57 billion based on opening over 200 new stores and assuming an approximate 1% to 3% increase in comparable sales.
- Net income is expected to be in the range of $297 million to $319 million.
- Diluted income per common share is expected to be in the range of $5.31 to $5.71 on approximately 55.9 million diluted weighted average shares outstanding.
- The 53rd week is expected to contribute approximately $40 million in sales and approximately $0.08 in diluted income per common share.
- Gross capital expenditures are expected to be approximately $335 million in fiscal 2023.
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Five Below GAAP EPS of $0.67 beats by $0.04, revenue of $726.25M misses by $1.96M