Five Below Expresses Confidence Despite Store Closures
Five Below (NASDAQ: FIVE) recently closed out a solid fiscal year marked by an aggressive 150 new store openings and the chain's 14th consecutive year of sales gains at existing locations. And while the holiday season shopping trends weren't as strong as management had initially hoped, the youth-focused retailer still notched key wins, including the introduction of a new merchandise section of higher-priced products.
In a fourth-quarter conference call last week with Wall Street analysts, CEO Joel Anderson and his team discussed the main factors behind the strong operating performance this past quarter, including during the initial period of social distancing efforts around the country related to the coronavirus pandemic. Executives also listed some reasons for cautious optimism about the business quickly rebounding once its 900 stores eventually resume normal retail operations.
Let's look at some highlights.
Source Fool.com
