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NEWS RELEASE
Five Below, Inc. Announces Fourth Quarter and Fiscal 2020 Financial Results
Q4 Net Sales Increase of 25%; Record Q4 Comparable Sales Increase of 13.8%
Q4 EPS of $2.20
 
PHILADELPHIA, PA (March 17, 2021) – Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the fourth quarter and full year of fiscal 2020 ended January 30, 2021.


For the fourth quarter ended January 30, 2021:
Net sales increased by 24.9% to $858.5 million from $687.1 million in the fourth quarter of fiscal 2019; comparable sales increased by 13.8%.
The Company opened 2 new stores and ended the quarter with 1,020 stores in 38 states. This represents an increase in stores of 13.3% from the end of the fourth quarter of fiscal 2019.
Operating income increased by 17.7% to $169.6 million from $144.1 million in the fourth quarter of fiscal 2019.
The effective tax rate was 26.6% compared to 23.6% in the fourth quarter of fiscal 2019.
Net income increased by 12.3% to $123.9 million from $110.4 million in the fourth quarter of fiscal 2019.
Diluted income per common share was $2.20 compared to $1.97 in the fourth quarter of fiscal 2019. The fourth quarter of fiscal 2019 included a $0.01 benefit from share-based accounting.
For the fiscal year ended January 30, 2021:
Net sales increased by 6.2% to $1,962.1 million from $1,846.7 million in fiscal 2019; comparable sales decreased by 5.5%.
The Company opened 120 net new stores compared to 150 new stores opened in fiscal 2019.
Operating income decreased by 28.8% to $154.8 million from $217.3 million in fiscal 2019.
The effective tax rate was 19.4% compared to 21.0% in fiscal 2019.
Net income decreased by 29.5% to $123.4 million from $175.1 million in fiscal 2019.
Diluted income per common share was $2.20 compared to $3.12 in fiscal 2019. The benefit from share-based accounting was approximately $0.08 in fiscal 2020 compared to $0.14 in fiscal 2019.


Joel Anderson, President and CEO of Five Below, stated, “We closed out an unprecedented year with fourth quarter results that were even stronger than we expected, highlighted by a record fourth quarter comparable sales increase of 13.8% with broad-based strength across our worlds. I am so grateful for our outstanding teams, who executed seamlessly against our key priorities, with an unwavering commitment to health and safety, maintaining financial discipline and always placing the customer at the center of our decision-making.”

Mr. Anderson continued, “We enter 2021 with this same focus and dedication as we continue to invest in our foundation and in innovation across product, experience and supply chain, while returning to more normalized annual store growth. With plans to open 170 to 180 new stores in our Five Beyond prototype, we are excited to enter the two new states of Utah and New Mexico, bringing the states we operate in to 40. Concurrently, we are expanding our distribution center network with the addition of our Arizona facility this year. With continued focus on providing extreme value, trend-right products our customers ‘just gotta have!', combined with execution against key strategic initiatives, we are well positioned to achieve our objectives for 2021 and beyond.”



The following information was filed by Five Below, Inc (FIVE) on Wednesday, March 17, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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