Five Below Inc. Reports Q3 Financial Results

Five Below Inc ( (FIVE) ) has released its Q3 earnings. Here is a breakdown of the information Five Below Inc presented to its investors.

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Five Below Inc. is a high-growth value retailer offering trendy and affordable products, primarily targeting teens and pre-teens across the United States. The company specializes in items priced between $1 and $5, with some premium products priced slightly higher in select stores.

In its third quarter fiscal 2024 financial report, Five Below Inc. reported a 14.6% increase in net sales, reaching $843.7 million. The company also opened 82 new stores, boosting its total to 1,749 locations across 44 states. Despite a slight increase in comparable sales by 0.6%, the operating loss was noted at $0.6 million, although adjusted operating income stood at $27.6 million.

Key financial highlights include a diluted EPS of $0.03, with an adjusted diluted EPS of $0.42. The company also reported a net income of $1.7 million compared to $14.6 million from the previous year. Year-to-date figures show a net sales increase of 11.9% to $2.49 billion, though comparable sales decreased by 2.6%. The company also appointed Winnie Park as CEO, effective December 16, 2024.

Looking ahead, Five Below Inc. expects net sales for the fourth quarter to be between $1.35 billion and $1.38 billion, with a projected decrease in comparable sales by 3% to 5%. For the entire fiscal year 2024, net sales are anticipated between $3.84 billion and $3.87 billion, with continued store expansion and strategic market positioning efforts.

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