-
Five Below Q4 tops estimates; 62 stores planned for current year
Philadelphia -- Five Below on Tuesday reported better-than-expected results for its fiscal fourth quarter, ended Feb.1. The tween/teen retailer also said it is on track to open 62 stores in 2014
The company posted net profits of $24.8 million, slightly higher than estimates of $24.6 million, up from $19.2 million in the year-ago period.
Sales jumped 22.1% to $212 million, beating analysts' expectations for $207.78 million in sales. Same-store sales increased by 0.3%.