4Q sales boost specialty value retailer’s outlook
PHILADELPHIA — Five Below has proposed a secondary offering of 7,000,000 shares of its common stock, amid reports that sales are not as bad as originally feared.
All the shares are being offered by selling shareholders, including certain members of Five Below’s management team and board and board affiliates. The underwriters will have a 30-day option to purchase an additional 1,050,000 shares of common stock. The Philadelphia-based specialty value retailer, which went public April 2012, will not receive any proceeds from the sale of shares in this offering.
Five Below operates more than 200 locations in 18 states, and has plans to open an additional 100 stores in the next two years. It offers a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer for $5 or less.
Five Below has filed a registration statement relating to these securities with the Securities and Exchange Commission but it has not yet become effective.
The specialty value retailer’s fourth quarter total sales for the period from October 28, 2012 through January 12, 2013 increased 34% to $158.5 million, while comparable store sales for the same period increased 4.2%.
“Though our sales results for the quarter-to-date time period were impacted by the effects of Hurricane Sandy in the month of November, we saw improved trends in December and January and believe that customers responded favorably to our compelling merchandise offering and value price points during the key holiday selling season," said Thomas Vellios, co-founder, president and CEO, stated. "We are pleased with the overall performance of our fiscal 2012 class of stores. Additionally, fiscal 2013, for which we have planned 60 new stores, will be off to an exciting start with our initial entry into the Texas market, including the Dallas and Austin metropolitan areas."
Target hits bull’s-eye with online-only brands
Target has debuted six brands that will be available exclusively online.
The one-stop shop is not taking its e-commerce site Target.com for granted. While continuing to draw people into its physical stores with sales and other incentives, the retailer acknowledges the need to change as shoppers’ habits change. Target divisional merchandise manager Theresa Schmidt recognizes that consumers are going online more often to shop from the comfort of their own homes, and the need to not only draw new consumers to its online site but also retain existing online consumers, by offering online-exclusive deals that will set not only the retailer apart from other retailers, but also the website apart from the physical store.
“We’re excited about these new brands and how they’re helping us further differentiate Target.com from other online retailers,” says Theresa Schmidt, a Target divisional merchandise manager. “We know our guests are increasingly connected and are shopping online more, so we wanted to offer guests something new, unique and unexpected.”
The six new brands available at Target.com include Labworks, Room 365, Zutano Blue, MudHut, Boho Boutique and TOO by Blu Dot.
Labworks is a contemporary line of women’s ready-to-wear apparel available in missy, plus and petite sizes. Room 365 is a home décor collection that features bright colors and prints and modern designs. Zutano Blue is a collection of clothing, bedding and home décor by European designer Uli Belenky that, according to the designer, celebrates the spirit of childhood. MudHut is a collection of bedding, textiles and home accessories that feature textures, hues and motifs of Africa, Asia and Latin America. Boho Boutique features and assortment of bedding, table linens, curtains and shower curtains.
TOO by Blu Dot is a collection of modern décor rooted in simple design. Blue Dot was founded in 1997 by college friends John Christakos, Charles Lazor and Maurice Blanks, who all shared a passion for art, architecture and design. The trio aimed to design products that are useful, affordable, desirable and accessible.
Although TOO by Blu Dot is an online-only collection, Target’s five CityTarget locations will have the collection on display so consumers can get a hands-on feel for it and then scan QR codes to either purchase the products or learn more about them.
Surveillance tech innovators bring in fresh blood
RANCHO CUCAMONGA, Calif. — Surveillance technology developer Universal Surveillance Systems has named Amanda Kirtlan, Robyn Broderick and Nicole Finley as national account managers.
Universal Surveillance Systems offers security solutions designed to deter theft, prevent loss and increase profitability, as well as customer support to Fortune 500 clients, worldwide leading retailers and local communities.
The three new account managers will work with loss prevention and security professionals in all industries and be charged with helping to reduce theft and enhance facility protection through advanced technology solutions, including electronic article surveillance and closed circuit television products, systems and service.
Kirtlan has more than ten years’ experience in management and customer service where she solved customer needs, built ongoing customer relationships and implemented customer satisfaction programs for a variety of clients in numerous industries. Kirtlan will be based in California.
Broderick brings national sales experience in a variety of industries where she worked with large and small business to increase their sales and profitability, including driving product development to meet client needs. She holds a BA degree from the University of Massachusetts at Amherst and will be based in Massachusetts.
Finley’s background includes extensive experience in building relationships with Fortune 500 companies in business-to-business environments. She has numerous years of technical product and service sales, which USS will leverage assist its clients in assuring solutions to their LP challenges. She will be based in Texas.
"Our new team members will work with businesses of all sizes and types to solve their loss prevention issues," said Adel Sayegh USS president and CEO. "Amanda, Robyn and Nicole each have the exceptional ability to think outside the box and dependable integrity that will quickly build solid customer partnerships with new clients and in new markets. USS is proud to have them aboard to represent our innovative products, technology and service."