Five Below reported positive net sales results for the holiday period, the quarter-to-date period from November 4, 2018, through January 5, 2019.
The company said that net sales for the holiday period increased by 24.6% to $526.1 million from $422.3 million in the comparable nine-week period from November 5, 2017, to January 6, 2018. Comparable sales increased by 4.9%.
Joel Anderson, president and CEO of Five Below, stated, “We are very pleased with our holiday sales results. We saw continued strong performance from our new stores and comparable sales came in ahead of our expectations. Results were broad-based across many worlds, including tech, candy, create and sports, where we successfully capitalized on the toy opportunity through an expanded selection of amazing value toys and games. We believe our offering, combined with increased TV advertising, drove traffic. Given our strong quarter-to-date performance and expectations for the remainder of the fourth quarter, we expect to slightly exceed our sales guidance while delivering bottom line performance at the high end of our earnings guidance range.”