Bullish Stock to Watch: Five Below Inc.(NASDAQ:FIVE)

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Five Below Inc.(NASDAQ:FIVE) stock surged over 5.1% on June 4th, 2021 (as of 11:50:56 UTC-4 · USD; Source: Google finance) as the company posted better than expected results for the first quarter of FY 21.

The comparable sales increased by 162% compared to the first quarter of fiscal 2020. For the comparable subset of stores that were open in both the first quarter of fiscal 2019 and the first quarter of fiscal 2021, sales increased 23%. The Company had opened 67 net new stores and ended the first quarter with 1,087 stores in 39 states. The company continued to invest in the growth, opening a record 68 new stores across various states, including Utah, the 39th state. Six of these new stores finished in the top 25 of all Spring grand openings. This represents an increase in stores of 18.2% from the end of the first quarter of fiscal 2020. Overall, the company has reported net income of $49.6 million compared to a net loss of $50.6 million in the first quarter of fiscal 2020.

FIVE in the first quarter of FY 21 has reported the adjusted earnings per share of 88 cents, beating the analysts’ estimates for the adjusted earnings per share of 66 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 197.6 percent to $597.8 million in the first quarter of FY 21, beating the analysts’ estimates for revenue of $556.9 million. Operating income was $63.7 million compared to an operating loss of $72.2 million in the first quarter of fiscal 2020.

For the second quarter ending in August, Five Below expects revenue to be in the range of $640 million to $660 million. The analysts surveyed by Zacks had expected revenue to be of $588.1 million. This projection is based on opening approximately 30 new stores in the second quarter. Q2 2021 net income is expected to be in the range of $56.9 million to $63.7 million and diluted income per common share is expected to be in the range of $1.01 to $1.13 on approximately 56.4 million diluted weighted average shares outstanding.

The company is on track to open 170 to 180 new stores this year and offer the unique Five Below experience to more new customers. The Company has not be provided sales or earnings guidance for the full year of fiscal 2021 due to the uncertainty related to COVID-19 and potential future shifts in consumer spending.

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