Five Below Posts Q2 Growth

Five Below (Philadelphia) announced that its Q2 revenue rose 28.7% and same-store sales jumped 9.3%.

"Our strong second quarter results demonstrate the amazing appeal of the Five Below brand," said ceo Joel Anderson according to Chain Store Age. "We exceeded the high end of our sales, comp and earnings outlook. Our top line results were accompanied by strong margin expansion, resulting in over 70% net income growth.”

Anderson traced the retailer’s Q2 boom to sales of fidget spinners, new assortment, and a new store format. Five Below opened 31 new locations in Q2, bringing its store total to 584.