Five Below Inc. (FIVE) stock prices were up by 1.52% as of the market closing on September 1st 2021. This brought the price per share up to USD$216.05 at the end of the trading day. Subsequent premarket fluctuations saw the stock dip by 9.28%, bringing it down to USD$196.00.
FIVE Stock’s Net Sales Report
The second quarter of fiscal 2021 saw FIVE stock’s net sales in the amount of USD$646.6. This represents a 51.7% increase from the USD$426.1 million reported for the second quarter of 2019. The reports from Q2 2021 were up 39.2% from the prior year quarter. Sales were up by 21% from for the comparable subset of stores that were open in both the second quarters of fiscal 2019 and 2019.
Expanding Store Count
FIVE stock reported having opened 34 new stores over the course of the second quarter of fiscal 2021. The company ended the quarter with 1,121 stores across a total of 39 states. This represents a 14% increase from the number of stores as of the second quarter of fiscal 2020. Accordingly, operating income rose to USD$86.2 million from the USD$33.1 million in the prior year quarter. The 2021 quarter saw an effective tax rate of 23.8%, a massive increase from the 9.4% reported in Q2 2020.
FIVE Stock’s Net Income Report
Net income for the second quarter of fiscal 2021 came out to USD$64.8 million, up significantly from the USD$29.6 million reported in the prior year quarter. Net income was up by 124.9% from the USD$28.8 million reported for the second quarter of fiscal 2019.
Facilitating Further Growth
The third quarter of fiscal 2021 has gotten off to a strong start from a sales perspective. FIVE stock is innovating across its three key strategic priorities: product, experience, and supply chain, with the company working hard to mitigate the impact of global disruptions. The company is confident in its Wow assortment, the flexibility of its unique model with eight worlds, as well as its new Five Beyond offering. Combing with its operating discipline across the organization, the company is set to usher in sustainable long-term growth. FIVE is keen to realize its 2500-plus store potential in the United States alone.
Future Outlook for FIVE Stock
The company reported a promising quarter, evidenced by the strength of its financial reports for the second quarter of fiscal 2021. FIVE stock is poised to capitalize on the opportunities presented to it as a result of the momentum it has generated. Current and potential investors are hopeful that management will be able to continue their trajectory of success.
