FIVE
#Yes, with the exception obviously of weather.
And we've seen this historically.
The range of performance when you look across the regions is still in a pretty reasonable range.
I would cage it as you just said.
It will be pretty similar to last year in the sense that it's going to be all about summer, Five Below being your summer destination.
Our stores are alive and they're vibrant and it's your go-to place for all things summer.
That's the message we want to communicate and the marketing team is doing a great job of getting that across in traditional network TV, cable TV, on the Internet, and really trying to reach our core teen and tween customers.
I'll take the big picture on that and <UNK> can talk about new store productivity a little bit.
It sounds like people on the call are trying to read into things.
We see this as 3% comp concept.
We are really pleased with the first quarter and we're really pleased with the outlook for the back half of the year.
We go into the summer, which is an important time for us.
I think as all of you start to see the TV commercials, you'll like what you're seeing.
The merchandise is strong.
<UNK> and his team have really put together a great summer cadence.
And now we're getting ready for holiday from a merchandising perspective.
While first quarter was strong, you've got to still remember it's less than 10% of our overall business.
It gives us the momentum we need and want but we also want to keep in perspective where we're at in terms of the whole year.
<UNK>, anything on new stores.
Yes, on the new store productivity, <UNK>, as you look at the full year, when you do the calculation, it's north of 90%.
But keeping in mind, though, the timing of new store openings.
If you remember last year through the mid point of the year we opened up about 70% of our stores.
And this year based on timing it's closer to 60% based on what we've opened in Q1 and what we've guided to in Q2.
So, that's a piece of it that rolls into the productivity calculation for the full year.
Yes, <UNK>, certainly adult coloring has remained strong.
I think the way you've got to continue to think about this business and what makes Five Below so unique is the eight worlds.
The merchants do a great job of plussing up or down a world as the trends change.
The emergence of the room world is a recent change for us and that continues to get stronger, as you get in our stores and see the new merchandise in the room world.
But as far as license goes, as I said earlier, it remains strong for us.
Shopkins is certainly one of those properties that we like and we continue to see the trend.
Series 5 just came out a few weeks ago and that continues to be a strong license for us.
So, we're pleased with license, pleased with adult coloring, but in terms of the broader worlds, this past quarter was really led by candy, style and room.
<UNK>, I'd just rather start by reiterating your opening comment ---+ 4.9% comp, 40 consecutive quarters.
That is the consistency of this business.
When I started a year and a half ago, I think our timeline we outlined for you in March of 2015 is that we planned to launch e-commerce within two years.
We're still on that track.
What's nice about this concept is that we don't need e-commerce to rebuild our model.
E-commerce will be part of our larger digital strategy.
E-commerce is icing on the cake.
It's another way for us to communicate with our customers ---+ ratings and review, research on our products, be more relevant with SEM and SEO.
So, we will participate but we see commerce as convenience.
We see it as an opportunity for bulk purchases.
But our stores continue to remain our number one priority.
And as I shared with you in my prepared remarks, we're just seeing better and stronger results across multiple markets, multiple states throughout the country, and we'll continue to emphasize stores.
But we will be prepared and are beginning to build out e-commerce.
I think it's just too early to speculate as we haven't even launched the site yet on that.
It will certainly remain on track and I wanted to share with everybody we're still on track within the two years I originally outlined.
It's certainly offensive.
We're not in a situation where we need that to change our model.
But, at the same time, Five Below is continuing to get broader and the appeal is getting bigger, and there are certain customers that want to take advantage of an online channel and we need to be there for them, too.
As far as the brand awareness we will probably be prepared to talk about that on the next call.
We are in-flight right now with our spring brand awareness study.
Early reads are that it continues to move positive.
I think all the steps we've taken digitally in improving our merch assortment, improving the in-store experience are really helping that move forward.
As far as Texas goes, outside of weather, I think they were floating away there this week, we really aren't seeing Texas perform any differently than the rest of our chain.
No.
I think when we call out areas that are outperforming, take as the assumption better than how the overall chain did.
But it really wasn't any specific items or that.
I think it's just a great demonstration of the progress the merchant team led by <UNK> has made.
We've seen those areas really evolve and they're continuing to get better, and they're resonating with the customer.
It's incredible value.
Yes.
It's really, <UNK>, way too early for that.
Certainly we created a budget.
It's embedded in our overall guidance for the year.
As I've said several times, though, we're going to do this with discipline and prudence.
Do not expect to see a big drag on earnings or anything like that due to e-commerce.
This is additive and a benefit to our customers.
It's not the core driver of our future sales.
It's too early on the assortment.
Off the top of my head, <UNK>, I don't know that piece.
I would say it's less than half but it's certainly probably in the 20% to 30% range, if you're just talking purely exclusive.
You get into the candy category ---+ Hershey's and Baby Ruth and all that ---+ that can be bought anywhere.
But in some of our other worlds, we source it and it's exclusive to us.
It's probably in the one-third range.
I appreciate it, <UNK> We'll take all the luck we can get.
Thank you, operator.
And thank you, everyone, for joining us today.
Have a great summer.
And don't forget to visit Five Below to stock up for all your summer needs.
Thanks for joining us on the call and allowing us to share our first-quarter results with you.
Have a great day.
