On Thursday, Shares of Five Below Inc (NASDAQ:FIVE), lost -9.26% to $34.49.
Five Below, declared financial results for the thirteen and twenty-six weeks ended August 1, 2015.
For the thirteen weeks ended August 1, 2015:
- Net sales raised by 19.5% to $182.2 million from $152.5 million in the second quarter of fiscal 2014; comparable store sales raised by 3.0%.
- Operating income reduced to $11.6 million from $13.3 million in the second quarter of fiscal 2014 driven by the predictable deleverage associated with the new distribution center, leadership investments and a shift in marketing spend.
- The Company opened 32 new stores and ended the quarter with 417 stores in 26 states. This represents an improvement in stores of 18.1% from the end of the second quarter of fiscal 2014.
- S. generally accepted accounting principles, or GAAP, net income was $7.1 million contrast to $8.3 million in the second quarter of fiscal 2014.
- GAAP diluted income per common share was $0.13 contrast to $0.15 per share in the second quarter of fiscal 2014.
Joel Anderson, CEO, stated: “We delivered earnings at the high end of our guidance range in the second quarter and made noteworthy progress against our planned initiatives. We are excited to declare the opening of our new east coast distribution center and with new store growth remaining our top priority, we were very happy with our entry into three new markets, counting the highly anticipated Florida market.”
Five Below, Inc. operates as a specialty value retailer in the United States. It offers accessories, counting novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, in addition to beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, counting glitter lamps, posters, frames, fleece blankets, pillows, candles, incense and related items, and storage options for the customer’s room and locker.
Shares of Devon Energy Corp (NYSE:DVN), inclined 0.27% to $40.83, during its last trading session.
Devon Energy Corp., declared hat Dave Hager, president and chief executive officer, will present at the UBS Houston Energy Bus-less Tour on Thursday, Sept. 17, 2015, at 2 p.m. CT.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in the United States and Canada. It holds interests in various properties located in Anadarko Basin, Barnett Shale, Eagle Ford, Mississippian-Woodford Trend, Permian Basin, and Rockies in the United States, in addition to in the Jackfish and Pike heavy oil projects located in Alberta, Canada.
Finally, The Carlyle Group LP (NASDAQ:CG), ended its last trade with 3.01% gain, and closed at $20.56.
Global alternative asset manager The Carlyle Group (CG) and Blyth, Inc. (BTH), declared they have reached a definitive agreement under which The Carlyle Group will acquire all of Blyth’s outstanding shares of common stock in a transaction valuing Blyth at $98 million, equating to $6.00 per share, which represents a premium of about 105 percent over the closing price of Blyth common stock on Friday, August 28, 2015 and a premium of 65 percent over Blyth’s 30-day average share price as of such date. The transaction has been unanimously approved by Blyth’s board of directors and will be accomplished by means of a tender offer followed by a merger.
Under the terms of the definitive agreement, an associate of The Carlyle Group will commence a tender offer for all of Blyth’s outstanding shares of common stock at $6.00 per share in cash. The tender offer is conditioned on Blyth’s stockholders tendering at least a majority of Blyth’s outstanding shares in the tender offer, early termination, or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The acquisition is predictable to close in the fourth quarter of 2015. The financing for the transaction will come from Carlyle Equity Opportunity Fund, a $1.1 billion U.S. middle-market buyout fund. Robert B. Goergen, Blyth’s Chairman of the Board, and Robert B. Goergen, Jr., Blyth’s President and Chief Executive Officer, who beneficially own about 38% of Blyth’s outstanding shares of common stock, have committed to support the tender offer.
Carlyle Managing Director David Stonehill said, “Blyth is a pioneer in home fragrance with well established brands and extreme customer loyalty. We expect Carlyle’s deep experience in global consumer businesses will assist drive Blyth’s product innovation and growth aims. We are particularly impressed with PartyLite’s network of 40,000 independent consultants who have remarkable passion for the company’s products. We are excited to support their efforts as we grow the company together.”
The Carlyle Group LP is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in administration-led/ Leveraged buyouts, privatizations, divestitures, planned minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.
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