After a Solid Quarter, Five Below’s Plans to Tackle Tariffs Seem Reasonable; Shares Appear Rich
With its first-quarter results near our targets and its plans to combat the effect of tariffs striking us as prudent, we do not plan a large change for our $97 per share valuation for no-moat Five Below. We also do not expect to much alter our long-term outlook, calling for mid-teens percentage sales growth and 13% adjusted operating margins on average over the next decade.Sales rose 23% (on 3.1% comparable store sales growth) against a 6.7% operating margin, versus our 21% and 6.5% respective ...
Five Below is a retailer providing a range of merchandise targeted at the tween and teen demographic. The company provides an assortment of products, all priced at $5 and below, including select brands and licensed merchandise across eight worlds: Style, Room, Sports, Tech, Create, Party, Candy and Now. The company operates in states that include Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Massachusetts, New Hampshire, West Virginia, North Carolina, New York, Connecticut, Rhode Island, Ohio, Illinois, Indiana, Michigan, Missouri, Georgia, Texas, Tennessee, Maine, Alabama, Kentucky, Kansas, Florida, South Carolina, Mississippi, Louisiana, Wisconsin, Oklahoma, Minnesota, California and Arkansas.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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