Five Below Reports Q4 Earnings Beat, Temporarily Closes Stores
Five Below (NASDAQ: FIVE) reported fourth-quarter earnings of $1.96 per share on Wednesday, which beat the analyst consensus estimate of $1.94 by 1.03%. This is a 24.05% increase over earnings of $1.58 per share from the same period last year.
The company reported quarterly sales of $687.1 million, which beat the analyst consensus estimate of $687.05 million by 0.01%. This is a 14.01% increase over sales of $602.684 million the same period last year.
Five Below says it will not give first-quarter guidance given the coronavirus-related uncertainty. The company also says it will temporarily close all stores across the U.S. on March 19 until at least March 31.
"With the rapidly evolving COVID-19 situation, the health and safety of our associates and customers is our top priority, and we are taking the necessary steps to address the current environment across our stores, distribution centers and WowTown,” said CEO Joel Anderson. "The decision to close our stores reflects both the enormity of the current reality and our deep sense of responsibility and concern for our customers, crew members and community."
The company will be paying its associates through this period.
Five Below shares were trading up 6% at $56.85 at time of publication. The stock has a 52-week high of $148.22 and a 52-week low of $48.
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