Welcome to our dedicated page for Five Below news (Ticker: FIVE), a resource for investors and traders seeking the latest updates and insights on Five Below stock.
Five Below, Inc. (NASDAQ: FIVE) is a prominent specialty value retailer headquartered in Philadelphia, Pennsylvania. Established in 2002, the company has swiftly grown to become one of the fastest-expanding retailers in the United States, currently operating nearly 1,600 stores across 43 states. Targeting tweens, teens, and beyond, Five Below offers a diverse and ever-evolving array of products at affordable prices, typically ranging from $1 to $5, with some premium items available in their Five Beyond section.
Five Below's stores are renowned for their vibrant, high-energy atmosphere, making shopping an engaging and enjoyable experience. The company's product range is categorized into eight in-store worlds: Style, Room, Sports, Tech, Create, Party, Candy, and New & Now. This assortment includes leading brands such as LEGO®, Wilson®, Hasbro™, and Peeps®, as well as popular licenses from Disney® and Marvel®, including Frozen, Despicable Me, Avengers, and Star Wars™.
Recent achievements highlight Five Below's robust growth and strategic initiatives. In fiscal 2023, the company opened a record 205 new stores and converted over half of its comparable store base to the innovative Five Beyond format. These efforts contributed to a 15.6% increase in net sales during the 2023 holiday period, with comparable sales up 3.6%.
Five Below's strategic pillars focus on expanding its store footprint, enriching product and brand strategies, optimizing inventory management, and leveraging technological advancements to enhance customer experiences and operational efficiency. The company plans to open between 225 and 235 new stores and convert approximately 200 stores to the Five Beyond format in fiscal 2024.
Financially, Five Below remains committed to delivering consistent value to its shareholders. The company's share repurchase program, authorized up to $100 million through 2026, underscores its confidence in sustained growth and robust market positioning.
For more information on Five Below, its product offerings, and the latest updates, visit www.fivebelow.com or follow Five Below on Instagram, TikTok, and Facebook @FiveBelow.
Five Below (NASDAQ: FIVE) announced its participation in Oppenheimer's 24th Annual Consumer Growth and E-Commerce Conference.
The event will be held virtually on June 12, 2024, with a scheduled fireside chat at 2:15 p.m. ET.
The company's management will join the discussion, with the audio webcast available live and an archived replay accessible two hours post-event on their investor website.
Five Below announced its Q1 fiscal 2024 financial results, highlighting an 11.8% increase in net sales to $811.9 million. Despite growth in sales, comparable sales declined by 2.3%. The company reported a diluted EPS of $0.57 and an adjusted diluted EPS of $0.60. Operating income fell to $36.2 million, affected by a $2 million non-recurring expense. Net income was $31.5 million, down from $37.5 million in Q1 2023. The company opened 61 new stores, totaling 1,605 stores. For Q2 2024, Five Below forecasts net sales between $830 million and $850 million, with a mid-single digit decrease in comparable sales. Full-year 2024 guidance projects net sales between $3.79 billion and $3.87 billion and an adjusted diluted EPS between $5.00 and $5.40.
Five Below (NASDAQ: FIVE) announced it will release its first quarter fiscal 2024 financial results on June 5, 2024, after market close. The company will also host a conference call at 4:30 p.m. Eastern Time to discuss these results. Investors and analysts can join the call by dialing 412-902-6753, and a live audio webcast will be available on the company's investor relations website. A replay of the webcast will be accessible shortly after the call's conclusion.
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