Five Below swings to profit in Q1; 60 stores on tap

Philadelphia -- Five Below Inc. reported Wednesday a profit of $1.6 million, compared with a loss of $1.2 million in the year-ago period.



The discount retailer saw sales during the quarter rise 33% to $95.6 million from $71.8 million, meeting internal expectations but beating Wall Street’s forecasted $93.9 million in revenue. Same-store sales advanced 4.2%.



According to president and CEO Thomas Vellios, Five Below will open another 60 stores by the end of 2013.