PHILADELPHIA, PA — Five Below, Inc. (NASDAQ: FIVE) reported a robust financial performance for the first quarter ended May 3, 2025, with net sales surging 19.5% to $970.5 million, compared to $811.9 million in the same period last year. Comparable sales rose by 7.1%, driven by increased transactions across the retail chain.
The company’s operating income reached $50.8 million, up from $36.2 million in Q1 2024, and adjusted operating income grew to $59.6 million. Net income was $41.1 million, compared to $31.5 million a year earlier, while adjusted net income rose to $47.5 million. Diluted earnings per share increased to $0.75 from $0.57, with adjusted diluted EPS at $0.86.
Five Below continued its expansion strategy, opening 55 new stores during the quarter, bringing its total to 1,826 locations across 44 states, a 13.8% increase from Q1 2024.
CEO Winnie Park noted the company’s successful execution of its customer-focused strategy. “Our first-quarter results demonstrate the effectiveness of our strategy, grounded in trend-right product, extreme value and a fun store experience.”
Leadership Transition
The company also announced that CFO and Treasurer Kristy Chipman will be stepping down for personal reasons. Chief Operating Officer Ken Bull, who previously served as CFO for over a decade, will assume the role of interim CFO as the company conducts its search for a replacement.
“I want to thank Kristy for her partnership and the many contributions she has made to Five Below,” Park said.
Outlook for Q2 and Fiscal 2025
For the second quarter, the company anticipates net sales of $975 million to $995 million, supported by the opening of approximately 30 new stores and a projected 7% to 9% increase in comparable sales. Q2 net income is expected to range between $25 million and $32 million, with adjusted net income of $28 million to $34 million.
For fiscal 2025, Five Below projects net sales between $4.33 billion and $4.42 billion, with an annual comparable sales increase of 3% to 5%. Net income is estimated at $223 million to $249 million, while adjusted net income is expected to fall between $235 million and $261 million. The company plans to open roughly 150 new stores this year.
Five Below remains focused on executing its growth strategy while navigating external challenges, including tariffs and global trade uncertainties.
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