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.