FINANCE

Five Below reports loss on one-time costs; revenue surges 40%

BY Katherine Boccaccio

Philadelphia — Tween discounter Five Below Inc. reported Tuesday a loss in the second quarter of $64.2 million due to one-time costs that were attributed mainly to dividend payments made to preferred shareholders, among others. That compares with a loss of $1.7 million in the year-ago period. However, adjusted profit of $1.2 million beat expectations and the company’s third-quarter and full-year estimates are in line with Wall Street’s forecast.

Five Below, which went public in July, saw sales surge 40% to $86.8 million, which handily beat estimates of $82.1 million in revenue. Same-store sales rose 8.6%. The company opened 27 stores and ended the quarter with 226 stores in 18 states.

Co-founder, president and CEO Thomas Vellios, who reminded analysts that the company opened 27 new stores in the quarter – a 35% increase of over the prior-year quarter – said that the company has a “considerable runway for store growth” ahead of it.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Charlotte Russe selects MICROS-Retail to revamp retail systems

BY CSA STAFF

WESTBORO, Mass. — Charlotte Russe has partnered with MICROS-Retail, a division of MICROS Systems Inc., to develop and build a robust omni-channel solution as part of a revamp of its retail systems.

"When searching for a best-of-breed platform for our online business, we decided to partner with MICROS-Retail because their omni-channel solution covered all of our needs," said Kim Miller, Charlotte Russe SVP e-commerce. "MICROS-Retail’s omni-channel solution will allow us to deliver strong business growth while providing a unified experience for our customers across all channels."

MICROS-Retail will help Charlotte Russe build a targeted, multi-channel solution for reaching its desired demographic of millenials, according to a press release.

"We look forward to diving more deeply into our work with Charlotte Russe and are confident that our solution will help Charlotte Russe to meet their goals," said Jeremy Grunzweig, COO at MICROS-Retail. "The company is at an exciting point of expanding and envisioning its business and we are proud to be a part of these ventures."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Hollister fires models for insulting Asians at South Korea store opening

BY Marianne Wilson

New York — Hollister has fired three male models it flew in for the grand opening store of its first store in South Korea after the models mocked Asians in photos and on their social media accounts, according to various media reports.

During the models’ gig from Aug. 30 to Sept. 2, they tweeted photos of themselves making squinty eyes, mocking their Asian fans’ accents and engaging in other offensive behavior such as flipping off the camera. A spokesman for Hollister parent company Abercrombie & Fitch said that the models were fired after the company investigated the incident, the New York Daily News reported.

“We do not tolerate inappropriate or offensive behavior on the part of our associates,” the spokesman said. “On behalf of our more than 80,000 associates around the world who cherish our core values and our culture of diversity and inclusion, we sincerely apologize for the offense caused by these unauthorized, ill-considered actions.”

keyboard_arrow_downCOMMENTS

Leave a Reply

E.King says:
Oct-27-2012 07:03 am

Honestly I think its awful and inexcusable
Genuinely I reckon her devastating together with inexcusable. However the southern region vietnamese mass media can do anything to be able to sensationalize any form of bigotry when it comes to individuals and even purpose a single thing completed to foreigners of their usa. Our children out of http://www.hollisteruklondon.eu in this article will continue shopping for which usually bejeezers while they suppose her "famous" and / or any. That you're picking up a subject which often has not been wanted to know. This particular article relates to identify practices of usa citizens in another country. Recommendations overly dangerous for your needs, also, you will need to get a new subject to really make it concerning the additional male, which is very good. Nonetheless you might sound additional trustworthy if you'd only understand any rejection or incapacity to successfully self-reflect all on your own lifestyle 1st, prior to declaring which a few wrongs produce best.

E.King says:
Oct-27-2012 07:03 am

Genuinely I reckon her devastating together with inexcusable. However the southern region vietnamese mass media can do anything to be able to sensationalize any form of bigotry when it comes to individuals and even purpose a single thing completed to foreigners of their usa. Our children out of http://www.hollisteruklondon.eu in this article will continue shopping for which usually bejeezers while they suppose her "famous" and / or any. That you're picking up a subject which often has not been wanted to know. This particular article relates to identify practices of usa citizens in another country. Recommendations overly dangerous for your needs, also, you will need to get a new subject to really make it concerning the additional male, which is very good. Nonetheless you might sound additional trustworthy if you'd only understand any rejection or incapacity to successfully self-reflect all on your own lifestyle 1st, prior to declaring which a few wrongs produce best.

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...