Net income for the third quarter of 2022 was $16.1 million versus net income of $24.2 million last year. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. At the midpoint of our guidance, we expect year-over-year operating margin improvement in the fourth quarter of approximately 150 basis points, driven by leverage in both gross margin and SG&A expenses. With the pandemic already behind us, we should see a return to more normal comparable sales growth in the coming years. This guidance does not include the impact of share repurchases, if any. This quarters top-line outperformance was driven by comparable sales, as the company fell short of its store openings expectations once again. Im 68, my husband is terminally ill, and his $3 million estate will go to his son. rallied more than 5% in the extended session Wednesday after the discount retailer beat Wall Street expectations for its fiscal third quarter and said it continues to be "on the offense" to sell its wares. Five Below wants to remain true to its name, so it's also introducing a good deal of $1 and $2 products. Ill talk a bit more about inventories later on. Joel Anderson: Thank you, Christiane, and thanks everyone for joining us for our third quarter 2022 earnings call. We increased our marketing spend year-over-year, focusing more on the second half of the quarter, leading into the key holiday selling season. After submitting your request, you will receive an activation email to the requested email address. Sales rose 6.2% to $645 million, the company said. We expect fourth quarter sales to be in a range of $1.085 billion to $1.110 billion based on opening approximately 48 new stores in the quarter, with comparable sales in the range of negative 1% to positive 1% versus last year's fourth quarter comparable sales increase of $0.034. The most important one was deleveraging. You can sign up for additional alert options at any time. Event Month Location Contact; Brea Wedding Show: January: Brea Community Center: 714-671-4427 Email: Spring Operator: And today, it'll come from Kathy Burns with JPMorgan. For fiscal 2022, we are planning to spend approximately $235 million in gross capital expenditures, excluding the impact of tenant allowances. Joel Anderson, President and CEO of Five Below, stated, We were very pleased with our fourth quarter results that capped off a record year. Five Below reported very solid results last week, aided by the customer unfreeze that management expected. We explain the inventory increase. The company fell short of store openings again, but all eyes are on what could be a record 2023 in this regard. This represents an increase in stores of 16.7% from the end of the fourth quarter of fiscal 2020. We are pleased with the start of Q4, including Black Friday weekend. We are also executing on our long-term growth initiative that underpin our triple double plan, of which store growth is key and we are pleased that the conversions to our new Five Beyond store format are being met with a very positive customer response. I think clearly, as we get to March and if the world changes again, I'd unwind that comment. However, when it comes to store openings, all eyes should be on next year when the company expects to open a record 200 stores, taking advantage of increased real estate opportunities. This reflects the opening of our new ship center in Indianapolis, opening new stores and executing conversions and investing in systems and infrastructure. He prepared for the CFA exam for two years and, although he didnt end up taking the exam due to two cancellations during the pandemic, it has helped him achieve a more detailed understanding of financial markets and accounting.. The initial results are promising and we look forward to our customers discovering the convenience that bopis orders during this busy holiday season. Insider Monkey Transcripts. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. We are pleased with the start to the fourth quarter, including Black Friday weekend results. Actual results may differ materially from these expectations due to risks and uncertainties associated with the COVID-19 pandemic (including closures of our stores, adverse impacts on our sales and operations, future impairment charges and the risk of global recession, and the impact of government regulation), risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to extreme weather, pandemic outbreaks (in addition to COVID-19), global political events, war, terrorism or civil unrest (including any resulting store closures, damage, or loss of inventory), risks related to leasing, owning or building distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to domestic and foreign trade restrictions including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among others, the direct and indirect impact of current and potential tariffs imposed and proposed by the United States on foreign imports, risks associated with the restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax legislation and accounting standards and risks associated with leasing substantial amounts of space. Five Below, Inc. (NASDAQ: FIVE) Q3 2022 Earnings Call Transcript November 30, 2022 Five Below, Inc. beats earnings expectations. Reported EPS is $0.29, expectations were $0.14. Operator: Good day, and welcome to the Five Below Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. We remain nimble in this ever changing environment and I am extremely pleased with the positive results the team has delivered. In addition, Halloween was more normalized as tricker treating and other Halloween rituals recovered from the pandemic impacted 2020 and 2021 years. However, this highest quarterly cash flow is typically preceded by the lowest as the company prepares for the holiday season by stocking up on inventory: This explains the negative operating cash flow, but why did it decrease so much compared to Q3 2021? With respect to supply chain, we are proactively managing our operations and navigating dynamic conditions. By providing your email address below, you are providing consent to Five Below, Inc. to send you the requested Investor Email Alert updates. For more information, please visit www.fivebelow.comor find Five Below on Instagram, TikTok, Twitter and Facebook @FiveBelow. We ended the third quarter with $117 million in cash, cash equivalents and investments and no debt, including nothing outstanding on our $225 million line of credit. An archived replay will be available two hours after the conclusion of the live event. Operator: Good day, and welcome to the Five Below Third Quarter 2022 Earnings Conference Call. Both helped Five Below outperform in comparable sales this quarter. With that, I'll turn it over to Ken to review the financials in more detail. We delivered a third quarter that substantially beat our guidance against a difficult macroenvironment, especially given the comparison to last year's extremely strong sales. Many companies are seeing margin contraction, and Five Below is no exception, but we need some context to understand why it isnt worrying. Operating income was $379.9 million compared to $154.8 million in fiscal 2020. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Our marketing and digital design teams did a great job communicating our value message to customers, whether digitally or in store. We continue to expect the growth in average year-over-year inventory per store to moderate significantly by the end of the fourth quarter. Seeing the comparable sales decrease being driven more by average ticket than transactions is good because it shows that the decrease comes more from macro factors than Five Below-specific factors. According to management, a remodel of a Five Below store to the Beyond model is creating plus mid-single-digits comps: We expected the first full year post remodel to run in plus mid-single digits. Lower incentive compensation and additional cost management strategies are expected to more than offset deleverage on fixed costs and higher than originally planned marketing spend. The company posted a negative operating cash flow of $91.1 million in Q3, compared to a negative $24.1 million in the comparable period. Five Below exhibits the highest cash flows in Q4 due to the holiday season. The rationale is that the checkout is faster, and there will be more employees available to attend to customers throughout the store. Net sales are expected to be in the range of $3.16 billion to $3.26 billion based on opening approximately 160 new stores and assuming an approximate flat to 3% increase in comparable sales. As it relates to our strategic initiative of experience, we are focused on connecting with our customers and delivering an even better shopping experience for them. The negative EPS growth comes from the same deleveraging impact we saw this quarter. En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. At Five Below, Inc., we promise to treat your data with respect and will not share your information with any third party. The company can work on initiatives to drive average ticket, but these will prove meaningless if traffic slumps. We came up with names ranging from Microsoft to Moodys. Now, on to the all-important holiday season. Five Belows Q3 report was strong on all fronts. Well, let us explain a bit. You can unsubscribe to any of the investor alerts you Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Purchases of investment securities and other investments, Sales, maturities, and redemptions of investment securities, Borrowing on note payable under Revolving Credit Facility, Repayment of note payable under Revolving Credit Facility, Cash paid for Revolving Credit Facility financing costs, Net proceeds from issuance of common stock, Repurchase and retirement of common stock, Proceeds from exercise of options to purchase common stock and vesting of restricted and performance-based restricted stock units, Net (decrease) increase in cash and cash equivalents, Cash and cash equivalents at beginning of year. Mar 30, 2022 09:00 AM ET. five belows extreme $1-$5 value, plus some incredible finds that go beyond $5! After submitting your request, you will receive an activation email to the requested email address. The increase in expense was primarily due to the write-down of an equity investment. Our sales for the third quarter of 2022 increased 6.2% to $645 million from $607.6 million reported in the third quarter of 2021. ET. Self-checkout not only allows the company to save on personnel costs but should also improve the customers experience. We are very pleased with the pace and execution of this rollout as well as the customer response, which is driving higher sales and traffic to these stores. So somewhere in that range, 85% to 90%. Diluted income per common share was $4.95 compared to $2.20 in fiscal 2020 and $3.12 in fiscal 2019. Net income increased by 13.1% to $140.2 million from $123.9 million in the fourth quarter of fiscal 2020. And more than ever this year, we really focused on that. Guidance was also a highlight for Five Below, as it came above expectations: Once again, the company expects to outperform significantly in the bottom line as the cost-cutting initiatives continue in Q4. Last quarter, we said that Five Below becomes a needs-based retailer during the holiday season, and we are beginning to see that play out with improved transactions. We delivered sales growth in line with our expectations against the difficult comparison to last year's stimulus-fueled comparable sales increase of 13.8%, and despite the impact of weather in January. However, the most impressive thing was probably the outperformance on the bottom line, considering Five Below is a value retailer and, intuitively, should have fewer options to defend margins. Rated 4 / 5 from 2 reviews. All participants will be in a listen-only mode. Net income is expected to be in the range of $292 million to $320 million. Please go ahead. Catering to teens, pre-teens and their parents, Five Below carries an ever-evolving and exciting assortment of cell phone cases and chargers, 3 unexpected ways inflation affects our finances. As Joel said, we feel great about our holiday assortment and expect to benefit from a better in-stock position in Q4, more targeted and effective marketing and an expanded Five Beyond assortment in more stores. You must click the activation link in order to complete your subscription. The Company opened 17 new stores and ended the quarter with 1,190 stores in 40 states. Source: Joel Anderson, Five Belows CEO, during the Q3 2022 earnings call. For some context of what we're saying, take a look at the graph below with the Q3 comparable sales growth rates during the last few years. At Five Below, Inc., we promise to treat your data with respect and will not share your information with any third party. We're working our way into that for next year. Looking at cash flows every quarter might be tricky because theres significant volatility. If you have an ad-blocker enabled you may be blocked from proceeding. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Long-Term Vision and Strategic Outlook: Reported EPS is The company expects comparable sales to fall somewhere between -1% and 1%. Q4 Net Sales Increase of 16%; Q4 Comparable Sales Increase of 3.4%, Increases U.S. store potential to 3,500+ or triple current level, Plans to double sales and more than double EPS through 2025. Our average ticket remains strong, increasing over 20% in the third quarter as compared to the corresponding pre-pandemic period in 2019, which is in line with the results we have seen since we reopened stores in mid-2020. We connected with our customers with Squish Sunday events and recently launched our exclusive Five Below Only collection of squish models. We dont believe Five Beyond changes the value proposition of Five Below at all, and it will be an integral part of the companys long-term growth. waaay below the rest! For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. shop fivebelow.com and 1,000+ stores Best Anchor Stocks have a long track record of revenue growth combined with below-average volatility. Instead, the company expected customers to automatically shift to lower-priced goods amidst high inflation. Use our locator to find a location near you or browse our directory. As a result, operating income decreased 50.7% to $20.9 million versus $42.4 million in the third quarter last year, with operating margin deleveraging year-over-year by approximately 375 basis points. FIVE, Last quarter the company ended with 1,252 stores, and this quarter, it ended with 1,292. Joel Anderson claimed that Five Below uses tokenization to collect and act on customer data. It's quite evident there was a pull forward during the pandemic: Comparable sales also have two underlying growth drivers: Average ticket and number of transactions. Average ticket decreased by 1.8%, and transactions decreased by 0.9%. Net sales are expected to be in the range of $644 million to $658 million based on opening approximately 35 new stores and assuming an approximate flat to 2% decrease in comparable sales. November was the first month where the company had year-over-year comparisons: But short of having a loyalty or a credit card, our tokenization work which started November last year, that which then therefore means this is the first year I've got year-over-year trends. First, some store openings were very successful: Three of these new stores ranked in the top 25 fall grand openings of all time. PHILADELPHIA, PA, March 30, 2022 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the fourth quarter and full year of fiscal By providing your email address below, you are providing consent to Five Below, Inc. to send you the requested Investor Email Alert updates. On a 3-year compound annual growth rate basis, sales growth for the third quarter was approximately 20%. One doesnt always see a 17% daily increase. Five Below, Inc. (NASDAQ: FIVE) Q3 2022 Earnings Call Transcript November 30, 2022. Achieve the following by the end of fiscal 2025: Grow operating margin to approximately 14%, 375-400 new stores over the next two fiscal years, 550-600 new stores over fiscal years 2024 and 2025. Disclosure: I/we have a beneficial long position in the shares of FIVE either through stock ownership, options, or other derivatives. Looking to next year, despite not giving any specific guidance, management believes that operating margins will expand and the company will go back to positive comps after a "challenging" year: Ken gave you a 3% scenario, but I don't think the scenario everyone on this call should be thinking about is a flat comp. Price action doesnt affect their decisions, fundamentals do. Triple store count to 3,500+ by the end of fiscal 2030. As Joel said, we were pleased to exceed the third quarter guidance we provided. You can access it with the links below February 4: http://smtickets.com/enhypeninmanilafeb4 I have no business relationship with any company whose stock is mentioned in this article. Three of these new stores ranked in the top 25 fall grand openings of all time and two of them were in our new states of North Dakota and South Dakota. Contrary to Q3, Q2 headline numbers had not been great because management didnt expect customers to go into freeze mode. 11/12/2022. It will never be 100%, but it's probably not going to be less than 85%. The Company repurchased 368,699 shares in the fourth quarter of fiscal 2021 at a cost of approximately $60.0 million. As discussed above, Five Belows Q3 numbers were very strong. Five Below, Inc. beats earnings expectations. Despite the top-line outperformance, comparable sales fell 2.7% in the quarter. We screened for companies resistant to inflation, recession, and rate hikes. Visit Website. So, for example, comparable sales for Q3 2022 will be a calculation using only the changes in sales from those stores that were already open during Q3 2021. Newer trends like Anime, Funko and Hello Kitty grew and we sourced more licensed product, including items such as Disney's, Lilo & Stitch and Marvel Action figures, all at extreme value. With that, I'll turn it back over to the operator to begin Q&A. Microsoft, in FTC crosshairs, announces another acquisition, Omicron subvariants are now dominant in the U.S. as COVID cases tick up and New York City becomes a hot spot, Cristiano Ronaldo reportedly set to join Saudi club Al-Nassr for history-making $210 million per season. Regarding our distribution infrastructure, we completed our five no network with the summer opening of the Indianapolis ship center. In games and toys, our Swiss model products remain popular. In one of our public articles, we remember writing that a tough economy would benefit Five Below. You can sign up for additional alert options at any time. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. They can anchor your portfolio on the stormy market sea, still allowing you to outperform. I wrote this article myself, and it expresses my own opinions. Q3 sales came in at $645 million, up 6.2% year over year and significantly beating analysts expectations. The combination of our long runway for growth, industry-leading new store economic model and strong balance sheet, combined with disciplined cost management sets us apart and positions us to weather economic uncertainty, all while continuing to deliver on our strategic priorities to capitalize on the significant growth opportunity that lies ahead. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. Visit a quote page and your recently viewed tickers will be displayed here. Operating income increased by 74.8% from $217.3 million in fiscal 2019. On today's call, are Joel Anderson, President and Chief Executive Officer and Ken Bull, Chief Financial Officer and Treasurer. Martin Healy. There was some good news on the store front, though. This effect took longer than expected and was deferred to Q3. Shares of Five Below ended the regular trading day up 2.5%. The best lower-volatility growth stocks to beat the market, Best Anchor Stocks is for people who want quality growth stocks with lower volatility than high growth and more growth than typical dividend or value investments. Five Below guided for full fiscal 2022 revenue between $3.038 billion and $3.063 billion, based on opening about 150 new stores and assuming a 2% to 3% drop in comparable Comparable sales: Better-than-expected ticket and transactions. Follow her on Twitter @ClaudiaAssisMW. Five Below came ahead of expectations on inventories (which is not typically good), but the inventory increase did not signal anything worrying. The first pick is up 16,000% from its IPO but has never been down 30%, not even during in 2008-2009.. See also Largest Law Firms in the World and 11 Best Advertising Stocks To Buy. Now that times are more normal, comparable sales are "coming back to earth." Growth at Five Below seems far from over, and its great to see that well soon be going into less volatile times, leaving the pandemic period behind. The benefit from share-based accounting was approximately $0.06 in fiscal 2021, approximately $0.08 in fiscal 2020, and approximately $0.14 in fiscal 2019. Later at 11:45 mag-uup yung event for ENHYPEN. Our effective tax rate for the third quarter of 2022 was 24.6% compared to 24% in the third quarter of 2021. Comparable sales decreased by 2.7% with a comp ticket decrease of 1.8% and a comp transaction decrease of 0.9%. I/we have a beneficial long position in the shares of FIVE either through stock ownership, options, or other derivatives. Operating income increased by 10.6% to $187.6 million from $169.6 million in the fourth quarter of fiscal 2020. So in summary, we made great progress on several initiatives in the third quarter and are in a great position for the fourth quarter. Another lever that will help the company grow profits is self-checkout. Our stores are stocked and ready with an amazing assortment of value products that promises to delight our customers, from branded games and toys to pet beds and from holiday decor and license keys to bluetooth speakers, we have something for everyone to complete their shopping lists. It should make investors more comfortable holding Five Below into a deteriorating macro environment. Somehow we live check to check. We make over $200K a year, but owe $100K on HELOC loans, never learned to save money and feel like well never be able to retire. Regarding EPS, they came in at $0.29, compared to the expected $0.14: It seems like very few people trusted managements cost-cutting initiatives to play out amidst high inflation. For example, amidst a troubling economy, the companys need-based and consumables categories outperformed: On product, the trends we mentioned last quarter continued, with our version of consumables or needs-based products resonating with customers. For yet another quarter, Five Below continued to show impressive cost control. Embedded in this vision are the following expectations: Investor Day Webcast:The meeting will begin at 9:00 a.m. Eastern Time today, and will webcast live at http://investor.fivebelow.com/. Our teams continue to move quickly to adjust to changing customer preferences, and I want to thank them for their ongoing commitment and dedication. Secondly, the company continues to shift the store base to the Beyond model: In addition, we have already converted approximately 250 stores this year to the new Five Beyond prototype. Questions about the event should be directed to [email protected]. Copyright 2022 MarketWatch, Inc. All rights reserved. Management has prepared the company for what appears to be a strong Q4, where the company might even go back to positive comps. Mar 30, 2022 09:00 AM ET. Discover short movies associated with 5 under squishmallow event 2022 on TikTok. Watch famous content from the following creators: Natalie (@nonichenat), noelbrooks637 (@noelbrooks637), Caitlyn (@sparecaitlyn), Squishmallow1029 (@squishmallow1029), Lyss (@squishmallowprincess) . With approximately 20% of our chain in the new Five Beyond format that we unveiled earlier this year, we are on track and marching toward our goal for over 80% of the chain to be in this format by 2025. We believe the bottom line outperformance simply underscores the flexibility of the operating model despite the companys low margins. The guidance is above FactSet consensus for EPS of $4.41 on sales of $3 billion. Best Anchor Stocks helps you find the best growth stocks to outperform the market with the lowest volatility. 1275 West Renaissance Parkway Rialto CA 92376. We do deep analyses of about 20K to 25K words in 6 articles when we pick a stock and we follow our holdings very closely. 909-822-8036. In our stores, we've hired thousands of associates to keep our shelves filled and help customers with their holiday shopping needs. The good thing about Five Below is that its diversified nature allows it to do well in varying economic environments. New store openings come out below expectations. Check out the calendar below for a list of exciting events happening in Brea! Team Ireland enjoyed a record-breaking showing at the European Cross Country Championships after hoovering up five medals. We already spoke about the successful rollout of the latest prototype featuring the Five Beyond store within a store in the back of the store, which includes the re-imagined tech and room worlds. We expect to open approximately 1,000 stores during this time, including 375 to 400 new stores over the next two fiscal years. Ken? Despite high inflation, Five Below reported similar margins to those of 2019. On product, the trends we mentioned last quarter continued, with our version of consumables or needs-based products resonating with customers. This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, store count potential and other financial and operating information. Earnings per diluted share for the third quarter were $0.29 compared to last year's earnings per diluted share of $0.43. The company added around 200 new products to the category during the quarter. Announces Fourth Quarter and Fiscal 2021 Financial Results; Provides Long-Term "Triple-Double" Vision at Investor Day 2022, Investor Presentation, california transparency in supply chain act, Prepaid expenses and other current assets, Selling, general and administrative expenses. I am not receiving compensation for it (other than from Seeking Alpha). Five Below, Inc. beats earnings expectations. At the yearly level, the companys guidance translates into 6% top-line growth and negative 9% EPS growth. And to highlight these amazing values, earlier this month, we kicked off our save the holidays marketing campaign, utilizing social media, paid search, TV and key partners like Kelly Clarkson, to attract new and existing audiences. I make $80,000 and have $220,000 in student debt. In conclusion, we had a better-than-expected third quarter and are off to a good start for the fourth quarter. Analysts polled by FactSet expected Five Below to earn 15 cents a share on sales of $614 million. We were pleased that our comps on a 1-year basis and a three-year geometric stack basis increased post-August with improvements in both transaction and ticket. If you do not have a copy of today's press release, you may obtain one by visiting the Investor Relations page of our website at fivebelow.com. For the comparable subset of stores that were open in both fiscal 2019 and fiscal 2021, sales increased 20%. The company fell short of store openings again, but all eyes are on what could be a record 2023 in this regard. Please. In addition to our Five Below stocking stuffers and gifts, we are also excited for Five Beyond to provide new and extreme value products in different categories, which further reinforces our position as a must-stop holiday gifting destination. I will begin my remarks with a review of our third quarter results and then provide guidance for the fourth quarter and the full year. Five Below benefited enormously from the post-pandemic period due to government stimulus, helping comparable sales outperform. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. We are excited to grow our new Beyond store prototype, expand categories and pilot new services to further enhance the customer experience. Gross margin decreased by approximately 110 basis points to 32.2%, driven primarily by occupancy deleverage on the negative comp. Seeing units on a per-store basis up around 11% year over year is nothing worrying, especially since management directly targeted such an increase to avoid falling short during the holiday seasons increased demand: We strategically accelerated inventory receipts to ensure a great in-stock position for the holiday season. The sales beat was driven by both ticket and transactions results, improving throughout the quarter. The thing is that 2021 came with muted seasonality, which made comparables very tough. Profitability was the lowlight again as the company deleverages from a stronger-than-usual 2021. I need to remind you that certain comments made during this call may constitute forward-looking statements and are made pursuant to and within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 as amended. You get all of our trades with a short explanation.. Our goal, especially this holiday inflation induced season, is to drive even more value for our customers and we will continue to selectively pursue opportunistic buys that will drive traffic and attract new customers to Five Below. As a result, operating income decreased 50.7% to $20.9 million versus $42.4 million in the third quarter last year, with operating margin deleveraging year-over-year by Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. We now have the capability to reach approximately 90% of our stores within two days and the network is expected to provide efficiencies and keep our stores well stocked. Please disable your ad-blocker and refresh. Slectionnez Grer les paramtres pour grer vos prfrences. -2.93% Last quarter management expected to end the year with 160 store openings, so they will fall short of that. 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