December 20, 2014 1:40 AM ET

Specialty Retail

Company Overview of Five Below, Inc.

Company Overview

Five Below, Inc. operates as a specialty value retailer in the United States. The company offers various products priced at $5 and below. It offers accessories, such as novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, and ‘attitude’ T-shirts, as well as beauty products, including nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space comprising glitter lamps, posters, frames, fleece blankets, pillows, candles, incense and related items, and storage options for the customer’s room and locker. The company also provides sport balls; team sports merchandise and fitness accessories, including hand weights, jump ropes...

1818 Market Street

Suite 2000

Philadelphia, PA 19103

United States

Founded in 2002

1,000 Employees

Phone:

215-546-7909

Fax:

215-546-8099

Key Executives for Five Below, Inc.

Co-Founder
Age: 59
Total Annual Compensation: $700.0K
Co-Founder and Executive Chairman
Age: 59
Total Annual Compensation: $600.0K
Chief Financial Officer
Age: 51
Total Annual Compensation: $336.4K
Compensation as of Fiscal Year 2013.

Five Below, Inc. Key Developments

Five Below, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2015

Five Below, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported net sales of $137,979,000 compared to $110,747,000 for the same period a year ago. Operating income was $5,480,000 compared to $3,021,000 last year. Income before income taxes was $5,474,000 compared to $2,700,000 last year. Net income attributable to common shareholders was $3,311,000 million or $0.06 per basic and diluted share compared to $1,656,000 or $0.03 per basic and diluted share last year. Adjusted operating income was $5,480,000 compared to $4,536,000 last year. Adjusted net income was $3,311,000 or $0.06 per diluted share compared to $2,593,000 or $0.05 per diluted share last year. For the nine months, the company reported net sales of $416,462,000 compared to net sales of $323,438,000 for the same period a year ago. Operating income was $24,077,000 compared to $13,396,000 last year. Income before income taxes was $23,745,000 compared to $11,907,000 last year. Net income attributable to common shareholders was $14,691,000 or $0.27 per basic and diluted share compared to net loss attributable to common shareholders of $7,206,000 or $0.13 per diluted share last year. Net cash used in operating activities was $3,621,000 compared to $17,298,000 last year. Capital expenditures were $24,787,000 compared to $21,758,000 last year. Adjusted operating income was $24,935,000 compared to $18,941,000 last year. Adjusted net income was $15,245,000 or $0.28 per diluted share compared to $11,109,000 or $0.20 per diluted share last year. For the fourth quarter of fiscal 2014, net sales are expected to be in the range of $262 million to $266 million based on opening one new store and assuming a 4% increase in comparable store sales. GAAP net income is expected to be in the range of $32.5 million to $33.8 million, with a GAAP diluted income per common share range of $0.59 to $0.62 on approximately 54.7 million estimated diluted weighted average shares outstanding. For fiscal 2014, net sales are expected to be in the range of $678 million to $682 million based on opening 62 new stores for the full year and assuming an approximate 4% increase in comparable store sales. GAAP net income is expected to be in the range of $47.2 million to $48.5 million, with a GAAP diluted income per common share of $0.86 to $0.89 on approximately 54.6 million estimated diluted weighted average shares outstanding. Excluding $0.5 million, or $0.01 per adjusted diluted share in tax-effected expenses related to the founders' transaction, adjusted net income is expected to be in the range of $47.7 million to $49.0 million, or $0.87 to $0.90 per diluted share based on estimated adjusted diluted weighted average shares outstanding of approximately 54.7 million. The company's capital expenditures expect approximately $36 million in 2014. The company continues to expect relatively flat gross and operating margins for the full year and a full year effective tax rate of 38%.

Five Below, Inc. Announces Executive Changes

Five Below, Inc. announced that Joel Anderson, President and COO of Five Below, has been appointed President and Chief Executive Officer and elected as a member of the company's Board of Directors, effective February 1, 2015. Current CEO and Co-founder, Tom Vellios, will work with Mr. Anderson in the coming months to ensure a smooth and orderly transition and will remain active in the company in the role of Executive Chairman. Current Executive Chairman and Co-Founder David Schlessinger will remain on the Board of Directors and continue to support Joel and the entire Five Below team. Mr. Anderson joined Five Below in July 2014, bringing more than 20 years of experience in the retail sector, most recently as President and CEO of Walmart.com, the multi-billion dollar U.S. dotcom business unit. He oversaw all aspects of the business including merchandising, marketing, operations and overall site experience. Additionally, he successfully accelerated the strategy from a pure play dotcom to a multi-channel retailer. Prior to joining Wal-Mart, Mr. Anderson was responsible for all aspects of the retail and direct business units at Lenox Group. He previously spent twelve years at Toys "R" Us, Inc. in various roles and activities including marketing, dotcom, new ventures and operations.

Five Below, Inc. to Report Q3, 2015 Results on Dec 04, 2014

Five Below, Inc. announced that they will report Q3, 2015 results at 4:30 PM, US Eastern Standard Time on Dec 04, 2014

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