Five Below (FIVE)
Five Below (FIVE) – Operates more than 1,190 targeted discount retail stores in 38 states and opened 40 new stores in 2021-22. It’s RS line moved to 94 and triggered an entry on MarketSmith’s Blue Dot Scan. The scan finds stock just before breaking out of bases, where relative strength is increasing.
The stock is off a bit this morning (-1.50) two days after the ICR Conference in Orlando, Florida. Management expects Q4 and full year fiscal 2022 results near the high end of its previously provided guidance ranges.
Five Below (FIVE) net sales for the holidays improved by 11.2% to $1,003 million from $900 million year over year. Comparable sales for the holiday period increased by nearly 1.0%.
Five Below management had good things to say about 2022 and 2023.
“We are pleased with our holiday performance, with results in the upper end of our fourth quarter sales guidance range. We believe our diverse eight worlds and WOW merchandise offering along with increased and more targeted marketing effectively highlighted the tremendous value for our customers.”
Air pollution control company Ceco Environmental (CECO) rallied 13.4% in huge volume and broke out of a newly formed flat base, hitting the 12.99 buy point. The stock has extended from the 5% buy zone, reaching to 13.64. Its relative strength line hit a new high, as indicated by the blue dot.
Semiconductors are hot this week.
Circuit board test systems developer Aehr Test Systems (AEHR) popped 9.4% following better-than-expected fiscal Q2 2023 EPS and sales numbers on Jan. 5. Shares broke out past a 28.10 buy point in higher-than-average volume.