The Company's highly seasonal orientation
results in operating losses in the first and
fourth quarters of the
fiscal year and operating profits in the second and third quarters.91
$2.79 $3.
LLR Partners Inc. JCOC. By hosting monthly
surveys and client studies, MVI can
track trends and buying habits before
they surface in the market.net. A tremendous disconnect still
exists between the industry's perceptions of consumer preferences and what
the consumer actually
wants.
celebrate thanksgiving
05 per diluted share. The actual amount of
the duties, if imposed, may be higher or lower than
the deposit rates,
depending on the final determinations of the Commerce Department and
the U
.
All statements other than statements of historical fact included
in this press release are "forward
-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
("Five Below"), the leading retailer of
extreme-value merchandise to the teen and pre-teen market
.00.
"David Schlessinger and Tom Vellios have stellar reputations in the
retail sector, and we
are excited to work with them as they take Five
Below to the next level.
-- About 75 percent
of male respondents wear jewelry, and over a quarter
would wear more if selection improved and
they knew what was available.
The JCOC.expressly halloween
"
About Five Below, Inc.com
About LLR Partners
Inc.
MVI Marketing Ltd. Statistics
indicate greater opportunity to acquire 75 percent more
consumers to buy
jewelry for Valentine's Day, Mother's Day, Father's Day, Graduations, and
the
winter holidays -- as well as other
non-traditional occasions.easter mardi
LLR Closes $20M Equity Commitment to
Five Below
and
affiliates ("LLR") announce the closing of a $20 million equity
commitment
to Five Below, Inc. LLR's unique combination of capital
and strategic guidance will leverage Five
Below's success.net four years ago.frenzy celebrate
(NYSE:CSS) announced today the results of operations for the
third
quarter and nine months ended December 31, 2004. Actual events or results may
differ materially
from those discussed in forward-looking statements
as a result of various factors, including without
limitation, general
market conditions, increased competition, and other factors described
in the
Company's Annual Report on Form 10-K for the fiscal year ended
March 31, 2004.00, includes:
sporting
goods, games, wearables and jewelry, hobbies and
collectibles, bath and body, candy, snacks and beverages
, room decor
and storage, stationery and school supplies, computer software, books,
electronic
accessories, novelty and "gag" items, and seasonal items. This
comprehensive,
61-page report presents
key findings, analysis and insights in jewelry
trends based on three years of consumer omnibus studies
, and provides
projections for future business and strategic recommendations for capturing
a greater
portion of that business in your marketplace. But 40 percent would consider branded silver and diamond
jewelry. But Chatelain laments that the
jewelry industry's marketing and spending focus still
do not come close to
generating demand for alternative jewelry shopping experiences.50th sheerlund
31 $2.95
$3.
Tom Vellios, President and CEO of Five Below, said, "We are
excited to join forces with
LLR to help Five Below realize its
tremendous expansion potential. Today, this
pioneering Internet
-based market research analysis system boasts 100,000
consumers on the panel.
Fine jewelry
ranks high as the preferred gift for a quarter of JCOC.decorations expressly
20
=========
========= ========= =========
Diluted $1.10 $. Five Below's dynamic
assortment of
merchandise, all of which is priced between $1.quinceanera gag
S. The
Company's exposure is estimated
to be in the range of approximately
$.
CSS' consolidated results of operations for the quarters
ended
December 31, 2004 and 2003 and consolidated condensed balance sheets
as of December 31,
2004, March 31, 2004 and December 31, 2003 follow:
CSS INDUSTRIES, INC.01
$2.227
========= ========= ========= =========
---------
-------------------------------------------------------------
COMPREHENSIVE INCOME
Net income
$ 23,971 $ 27,397 $ 35,177 $ 37,574
Change in fair value of
interest
rate swap
agreements, net - 149 - 269
Foreign currency
translation
adjustment (8) - (3) 17
--------- --------- --------- ---------
Comprehensive income $ 23,963
$ 27,546 $ 35,174 $ 37,860
========= ========= ========= =========
CSS INDUSTRIES, INC.00 and $5. Media requests are
directed to Elizabeth Chatelain
at
805-239-2994 x101; fax 805-239-2947; or email elchat@mvimarketing.decorations festive
CSS Industries Inc. Reports
Sales and Earnings for the Quarter and Nine Months Ended December 31 2004
Commerce Department issued
its
preliminary determination in the anti-dumping duty investigation on
certain tissue paper products
imported from China.03 to $.18 $2.
Five Below was founded in 2002 by David Schlessinger and Tom
Vellios, experienced retailers who created and developed the Zany
Brainy retail concept into a
200 store, $400 million revenue chain
that was eventually sold to FAO, Inc.inflatables celebrate
These negative
factors
were partially offset by decreased selling, general and
administrative expenses, primarily related
to compensation, and
reduced interest expense.
Business Editors/Retail Writers
PHILADELPHIA
----LLR Partners Inc."
"In the past three years, the Five Below management team has
invested and
rolled out an innovative retail concept, essentially
creating a new market niche," said Howard Ross
, a Partner at LLR.00 and $5. Based in
the Philadelphia area, LLR seeks to create value through a
variety of
transactions, including expansion capital investments, buyouts and
recapitalizations
.
-- Brand has historically been least important for consumer when buying
fine jewelry. By
February 2004, more than 42 percent owned
one. A quarter of this untapped market is
consistently
undecided about fine jewelry.thanksgiving groundhog
"The cost of doing business has skyrocketed to
such a level that to
have the ability to better understand the wants, needs
and desires of the consumer will help jewelers
position themselves as
premier jewelry retailers in their marketplace," explains Elizabeth
Chatelain
, Co-CEO of MVI Marketing and manager of the JCOC."
Did You Know
-- Self-purchases accounted
for half to as much as 90 percent of the
jewelry purchased in any given month in 2005 for at
least two thirds of the
year.com.meaningfully radiance
16 per diluted share.
"Reflecting the estimated maximum exposure
to tissue duties
(approximately $.16 per share) and the third quarter year to date
results, we
now expect EPS growth for the fiscal year of between 0%
and 5%," said David Erskine, President and
CEO.
Five Below is based in Philadelphia, PA. For more information about LLR, please visit
www
.
meaningfully frenzy
30 $.fivebelow.
Investments average $10 million to $40 million in a broad range of
industries
, with an emphasis on business and consumer services,
healthcare, financial services and information
technology.
Required reading for anyone in the gem and
jewelry trade, the Jewelry Consumer
Opinion Council e-panel (JCOC.net) 2005 Year-in-Review is available
from MVI Marketing Ltd.ornaments holidays
79
per
diluted share, compared to a prior year net income of $37,574,000,
or $3.
Currently with over
25 stores located in lifestyle centers and
malls in the Mid-Atlantic region, Five Below offers thousands
of
items, all priced between $1. and affiliates manage $620 million in private
equity, providing
capital to middle market companies with growth
potential, proven business models and outstanding
management teams.com
launched the JCOC.
-- Prices below $200 are popular for holiday
gifts with the possibility
to up sell to $1,000.quinceanera festive
Forward-looking statements are based on the
beliefs of the Company's
management as well as assumptions made by and information currently
available
to the Company's management.08 $. "Consumers' desires often don't
come close to the industry
's perceptions.expressly silverhawk
Net income decreased 13% to $23,971,000, or
$1.
In September 2004, the U. In November
2004 and January 2005, the
Commerce Department denied requests to reduce these deposit rates
pending
the issuance of its final determination. AND SUBSIDIARIES
CONSOLIDATED RESULTS
OF OPERATIONS
(Unaudited)
(In thousands, except
per share
amounts)
Three Months Ended Nine Months Ended
December 31, December 31,
----------
--------- -------------------
2004 2003 2004 2003
--------- --------- --------- ---------
SALES
$247,169 $247,394 $478,435 $484,846
--------- ----
----- --------- ---------
COSTS AND EXPENSES
Cost of sales 184,656 176
,443 353,270 350,718
Selling, general and
administrative expenses 24,221 27
,048 68,984 73,036
Interest expense, net 906 1,185 2,032 2,874
Other expense (income) 49 192 (643) (310)
--------- --------- --------- ---------
209,832 204,868
423,643 426,318
--------- --------- --------- ---------
INCOME
BEFORE INCOME TAXES 37,337 42,526 54,792 58,528
INCOME TAX EXPENSE
13,366 15,129 19,615 20,954
--------- --------- -----
---- ---------
NET INCOME $ 23,971 $ 27,397 $ 35,177 $ 37,574
========= ========= ========= =========
NET INCOME PER COMMON SHARE
Basic $2. The
investment is expected to enable Five Below to achieve
its objective
of growing to 100 stores in the Virginia to New York corridor by the
end of 2006
.jcoc.quinceanera gag
Net income decreased 6% to $35,177,000, or $2.
The decrease in sales for the nine months ended
December 31, 2004
was primarily the result of lower ribbon and bow sales, the absence of
sales
related to a product line which was sold in July 2003 and the
later timing of Valentine shipments
which pushed sales into the fourth
quarter.S. By combining exceptional
value with trend-right
, quality merchandise in a vibrant shopping
environment, Five Below has reinvented the traditional
five-and-dime
for today's younger generation, and has launched a new retail category
within the
specialty discount market. In 2003, 75 percent
were unaware of the product.
JCOC Press Link Sign Up
The Jewelry Consumer
Opinion Council (JCOC) was founded in 2001 with the
mission of providing MVI Marketing clients with
fast, efficient, effective,
and powerful market intelligence about their jewelry products and their
respective end use consumers.meaningfully sheerlund
For the quarter ended
December 31, 2004, sales of $247,169,000 were
flat compared to sales
of $247,394,000 in 2003.net panelists on average.
expressly inflatables
91 per diluted share, compared
to prior year net income of
$27,397,000, or $2. AND SUBSIDIARIES
CONDENSED CONSOLIDATED
BALANCE SHEETS
(Unaudited)
(In thousands)
December 31, March 31, December 31,
2004
2004 2003
-------- -------- --------
ASSETS
------
CURRENT ASSETS
Cash and cash equivalents $ 18,845
$ 93,191 $ 12,158
Accounts receivable, net 214,715 40,460 215,377
Inventories 81,652 94,459 76,187
Deferred income taxes
7,491 7,937 7,179
Other current assets 13,719 12,987
11,934
-------- -------- --------
Total current
assets 336,422 249,034 322,835
-------- --
------ --------
PROPERTY, PLANT AND EQUIPMENT, NET 77,681 81,193 82,959
-------- -------- --------
OTHER ASSETS
Intangible
assets, net 35,506 35,619 36,995
Other 4,852
4,551 4,473
-------- -------- --------
Total other assets 40,358 40,170 41,468
-------- -------- --------
Total assets $454,461 $370,397
$447,262
======== ======== ========
LIABILITIES
AND STOCKHOLDERS'
EQUITY
-----------------------------
CURRENT LIABILITIES
Notes payable $ 19,000 $ - $ 28,980
Current portion of long-term
debt 10,000 - -
Other current liabilities
95,609 61,221 95,653
-------- --------
--------
Total current liabilities 124,609 61,221 124,633
-------- -------- --------
LONG-TERM DEBT, NET OF CURRENT
PORTION
40,000 50,251 50,000
-
------- -------- --------
LONG-TERM OBLIGATIONS 3,602 3,631 3
,564
-------- -------- --------
DEFERRED INCOME TAXES
6,451 6,142 9,098
-------- --
------ --------
STOCKHOLDERS' EQUITY 279,799 249,152 259,967
-------- -------- --------
Total liabilities and
stockholders' equity $454,461 $370,397 $447,262
======== ======== ========
llrpartners.net members
represent a cross-section
of America's demographics.info.thanksgiving celebrate
18 per diluted share.
CSS is a consumer products company primarily
engaged in the
manufacture and sale to mass market retailers of seasonal, social
expression products
, including gift wrap, gift bags, boxed greeting
cards, gift tags, tissue paper, paper and vinyl decorations
, classroom
exchange Valentines, decorative ribbons and bows, Halloween masks,
costumes, make-ups
and novelties, educational products and Easter egg
dyes and novelties.05
========= ========= ========= =========
WEIGHTED AVERAGE SHARES
OUTSTANDING
Basic 11,952 11,841 11,929 11,730
========= ========= ========= =========
Diluted 12,523 12,592 12
,607 12,335
========= ========= ========= =========
CASH
DIVIDENDS PER SHARE OF
COMMON STOCK $.
Five Below is the leading retailer
of extreme-value merchandise to
the teen and pre-teen market.net 2005 Year in Review report
is
available for $595 by visiting www. The JCOC is an e-panel of fine jewelry
consumers throughout North
America representing all ages, genders, income
levels, buying categories and geographic regions.
mardi inflatable
For the nine months ended
December 31, 2004, sales decreased by 1% to $478,435,000 from
$484,846
,000 in 2003. These steps include the identification of new tissue sources
that are not subject to
duty, as well as the negotiation of new
freight arrangements," he continued.quinceanera celebrate
The decline in net
income
was primarily the result of lower sales and lower margins
caused by our establishment of a pre-tax
reserve of $3,100,000 for
duties that may be imposed on imported tissue products (discussed
below
), higher freight costs and higher material costs. International Trade Commission, which are expected
to be
issued in February 2005 and March 2005, respectively, and any reviews
that may be undertaken
by the Commerce Department thereafter.
-- 80 percent of consumers are likely to buy jewelry for
themselves
anytime they see something they like, with half likely to do so shopping
for
others. Mother's Day shows great promise to reach above $300.
When submitting a site, please place
it in the most appropriate category.
thanksgiving inflatables
As a result of this
determination, the Company and other importers
are required to post
bond or a cash deposit upon importation of these products at rates
reflecting
the Commerce Department's estimate of the duties that may
be imposed on these products.16 per share
in the current quarter. "We are disappointed
in these results and have taken several steps to improve
them for next
year. Serving as the ultimate
tool for predicting behavior rather than reacting
to it, the JCOC is
perfect for customized research projects, overnight studies, regular
monitoring
of issues, tracking brands and brand equity, and low cost
participation in omnibus studies.quinceanera inflatable
These
sales declines were partially offset by improved
Christmas and Everyday boxed greeting card sales
. The Company is vigorously contesting
the imposition of these duties, however given the preliminary
determinations of the Commerce Department and the International Trade
Commission, the Company
has established a reserve for its estimated
maximum exposure of $.PRESS RELEASE JCOC.net Reviews
Three Years of Consumer Research in 2005 Year-in-Review
-- Valentine's Day has become a big
holiday for parents to give gifts of
jewelry to their children.groundhog holidays
Business Editors
PHILADELPHIA
----CSS Industries, Inc. For more information about
Five Below, please visit www.
-- Interest
in diamond right-hand rings has soared.
-- Hispanic jewelry consumers register a greater affinity
for platinum,
and are more likely to own a diamond right-hand ring than their Anglo
counterparts
. "Smart
marketers would benefit from promoting affordable jewelry ideas for these
and other occasions
throughout the year -- giving options to those
searching for what to buy," she advises.Gifts with
a holiday theme, for Christmas, Easter, and other festive occasions.
radiance thanksgiving
A community sponsored library.
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