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Five Below Announces Planned Board Chair Transition Following 2025 Annual Meeting And Raises Outlook for First Quarter of 2025
FIVEFive Below(FIVE) GlobeNewswire·2025-05-02 12:30

Company Transition and Leadership Changes - Tom Vellios, co-founder and Executive Chair of Five Below, will transition to an advisory role and will not seek re-election to the Board at the 2025 Annual Meeting scheduled for June 12, 2025 [1][2] - Mike Devine, a current director with 12 years of experience on the Board, is expected to be appointed as the non-executive Chair, bringing substantial public company board experience [2] Business Performance and Outlook - Five Below is raising its guidance for the first quarter of fiscal 2025, expecting net sales of approximately 967million,upfrompriorguidanceof967 million, up from prior guidance of 905 million to 925million[4][6]−Thecompanyanticipatesopening55newstoresinthefirstquarter,exceedingthepreviousguidanceofapproximately50newstores[6]−Comparablesalesareprojectedtoincreasebyapproximately6.7925 million [4][6] - The company anticipates opening 55 new stores in the first quarter, exceeding the previous guidance of approximately 50 new stores [6] - Comparable sales are projected to increase by approximately 6.7%, compared to earlier guidance of a flat to 2% increase [6] - Diluted income per common share is expected to be in the range of 0.69 to 0.71,significantlyhigherthanthepriorguidanceof0.71, significantly higher than the prior guidance of 0.44 to 0.55[6]−Adjusteddilutedincomepercommonshareisexpectedtobebetween0.55 [6] - Adjusted diluted income per common share is expected to be between 0.82 and 0.84,comparedtothepreviousrangeof0.84, compared to the previous range of 0.50 to 0.61[6]CompanyOverview−FiveBelowisaleadinghigh−growthvalueretailertargetingpre−teensandteens,withmostitemspricedbetween0.61 [6] Company Overview - Five Below is a leading high-growth value retailer targeting pre-teens and teens, with most items priced between 1 and 5,andsomeitemspricedabove5, and some items priced above 5 [7] - The company operates over 1,800 stores across 44 states, focusing on delivering trend-right, high-quality products in a fun shopping environment [7]