Five Below, Inc. Announces Holiday Sales Results for Quarter-To-Date Through January 7, 2023

Five Below

PHILADELPHIA, PA — Five Below, Inc. (NASDAQ: FIVE) this week announced net sales results for the quarter-to-date period from October 30, 2022, through January 7, 2023 (“Holiday Period”). The Company also announced that it expects fourth quarter and full year fiscal 2022 (ending January 28, 2023) results near the high end of its previously provided guidance ranges.

The Company announced that net sales for the Holiday Period, which includes New Year’s Day in both periods, increased by 11.2% to $1,003.7 million from $902.3 million in the comparable fiscal week period of 2021. Comparable sales for the Holiday Period increased by 0.9%.

Joel Anderson, President and CEO of Five Below, stated, “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.”

Mr. Anderson added, “Given this holiday performance, we now expect to finish the fourth quarter and full year near the high end of our previously provided guidance ranges. We are entering fiscal year 2023 with momentum and excited to be executing our Triple-Double strategy, including opening 200+ new stores for the first time in our history and converting over 400 stores to the new Five Beyond format. We look forward to discussing Five Below’s full year 2022 results and outlook for fiscal 2023 on our fourth quarter earnings call in March.”

The Company’s previously provided guidance given on its third quarter 2022 earnings call is below.

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Fourth Quarter Fiscal 2022 Guidance

  • Net sales of $1,085 million to $1,110 million
  • An approximate 1% decrease to 1% increase in comparable sales
  • Diluted income per common share of $2.93 to $3.09 on approximately 55.8 million estimated diluted weighted average shares outstanding

Full Year Fiscal 2022 Guidance

  • Net sales of $3,038 million to $3,063 million
  • An approximate 2% to 3% decrease in comparable sales
  • Diluted income per common share of $4.55 to $4.71 on approximately 55.8 million estimated diluted weighted average shares outstanding

For more information, please visit www.fivebelow.com,

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