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Fred's misses analysts expectations
MEMPHIS, Tenn. — Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year. Comparable store sales increased 1.1%. Excluding the effect of the extra week in the current year, fiscal 2012 comparable store sales for the year decreased 1.4% from the year-earlier period.
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Five Below sales and profits rise in Q4
New York -- Five Below reported Wednesday that net income for the quarter ended Feb. 2 rose to $19.2 million, compared with $12.4 million in the year-ago period.
Revenue surged 38% to $173.6 million from $125.8 million in the fourth quarter of fiscal 2011. Same-store sales rose 4.4%.
For the full year, profit rose to $20 million from $16.1 million and revenue increased 41% to $418.8 million. The company said it expects to open 60 stores this year, including new markets in Texas, as well as adding units in existing markets.
