Five Below, Inc. (NASDAQ: FIVE) announced fiscal 2019 financial results for the second quarter. Net sales rose 20% to USD 417.4 Million from the previous value of USD 347.7 Million. Operating income rose 18.4% to USD 36 Million from the previous USD 30.4 Million value in the second quarter of fiscal 2018. Five Below repurchased a total of 146,185 shares at the cost of USD 16.6 Million in the second quarter.
Joel Anderson, President and CEO of Five Below, stated, “For the second quarter, we delivered total sales growth of 20% and EPS at the high-end of our guidance range. We saw broad-based strength across our worlds, despite a slower start to summer, which impacted sales of our seasonal assortment. Our performance once again was driven by continued strong results from new stores. We opened 44 new stores in 21 states and are on track to finish the year with 150 new stores.”
Mr. Anderson continued, “We are pleased with the start to the third quarter, with a back to school assortment that is resonating with customers. Our merchants continue to deliver even better WOW products, and we remain focused on innovating and elevating our customer experience through the Refresh store format and remodel program, including a new, reimagined front-end experience, as well as the Ten Below test. With respect to our outlook, we are updating our guidance ranges to reflect the fluidity of the current tariff situation and timing of our mitigation efforts.”