Five Below Updates Fourth Quarter Guidance Based on Quarter-to-Date Results

Five Below Updates Fourth Quarter Guidance Based on Quarter-to-Date Results

Expected Q412 net sales of $169 million to $172 million vs. prior guidance of
                         $167 million to $170 million

        Expected GAAP EPS of $0.34-$0.36, unchanged vs. prior guidance

      Adjusted EPS of $0.36 - $0.38 vs. prior guidance of $0.35 - $0.37

PHILADELPHIA, Jan. 15, 2013 (GLOBE NEWSWIRE) -- Five Below, Inc. (Nasdaq:FIVE)
today updated previously communicated fourth quarter sales and earnings
guidance based on quarter-to-date results for the period from October 28, 2012
through January 12, 2013.

The Company announced that total sales for this eleven week period increased
34% to $158.5 million while comparable store sales for this period increased
4.2%.

Thomas Vellios, Co-Founder, President and CEO, stated: "Though our sales
results for the quarter-to-date time period were impacted by the effects of
Hurricane Sandy in the month of November, we saw improved trends in December
and January and believe that customers responded favorably to our compelling
merchandise offering and value price points during the key holiday selling
season."

Mr. Vellios added, "We are pleased with the overall performance of our fiscal
2012 class of stores. Additionally, fiscal 2013, for which we have planned 60
new stores, will be off to an exciting start with our initial entry into the
Texas market, including the Dallas and Austin metropolitan areas."

Outlook

The Company is updating its fourth quarter fiscal 2012 outlook provided in
conjunction with the release of its third quarter fiscal 2012 results
announced on November 29, 2012:

For the fourth quarter of fiscal 2012, net sales are expected to be in the
range of $169 million to $172 million based on opening one new store and an
expected 4% increase in comparable store sales. This compares to prior
guidance for net sales in the range of $167 million to $170 million. GAAP net
income is still expected to be in the range of $18 million to $19 million,
with a GAAP diluted income per common share range of $0.34 to $0.36 on
approximately 53 million estimated diluted weighted average common shares
outstanding. GAAP net income and EPS guidance include an estimated $0.9
million in expenses related to the pending secondary public offering announced
today and $0.9 million in tax-effected expenses related to the founders'
transaction.^(1) Excluding the anticipated offering expenses and the expenses
related to the founders' transaction, which together represent $0.03 per
adjusted diluted share, net income is expected to be approximately $20 million
to $21 million, or $0.36 to $0.38 per diluted share based on estimated
adjusted diluted weighted average common shares outstanding of approximately
54.4 million. This compares to prior guidance for adjusted net income in the
range of $19 million to $20 million, or $0.35 to $0.37 per diluted share based
on estimated adjusted diluted weighted average common shares outstanding of
approximately 54.4 million.

(1)  Founders' transaction relates to the amortization of expense for options
granted to the Company's founders in Fiscal 2010 and their modification in
March 2012, which cancelled the Fiscal 2010 option award to purchase 2,020,620
shares of common stock and granted an equal number of restricted shares that
vest through March 2014.

Non-GAAP Information

This press release includes non-GAAP adjusted net income, adjusted income per
diluted share, and adjusted diluted weighted average common shares
outstanding, each a non-GAAP financial measure. The Company reports its
numbers on a GAAP and non-GAAP basis each quarter, and provides a
reconciliation table between the two for investors. The Company believes that
these non-GAAP financial measures not only provide its management with
comparable financial data for internal financial analysis but also provide
meaningful supplemental information to investors. Non-GAAP financial measures
have limitations as analytical tools, and investors should not consider them
in isolation or as a substitute for analysis of the Company's results as
reported under GAAP.

Forward-Looking Statements:

This news release includes forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 as contained in Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, which reflect management's current views and estimates regarding
the Company's industry, business strategy, goals and expectations concerning
its market position, future operations, margins, profitability, capital
expenditures, liquidity and capital resources and other financial and
operating information. Investors can identify these statements by the fact
that they use words such as "anticipate," "assume," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "plan," "potential,"
"predict," "project," "future" and similar terms and phrases. The Company
cannot assure investors that future developments affecting the Company will be
those that it has anticipated. Actual results may differ materially from these
expectations due to risks relating to the Company's strategy and expansion
plans, the availability of suitable new store locations, risks that consumer
spending may decline and that U.S. and global macroeconomic conditions may
worsen, risks related to the Company's continued retention of its senior
management and other key personnel, risks relating to changes in consumer
preferences and economic conditions, risks relating to the Company's
distribution centers, quality or safety concerns about the Company's
merchandise, events that may affect the Company's vendors, increased
competition from other retailers, risks relating to trade restrictions, risks
associated with leasing substantial amounts of space, and other factors that
are set forth in the Company's filings with the Securities and Exchange
Commission ("SEC"), including risk factors contained in the final prospectus
relating to the Company's IPO dated July 18, 2012 filed with the SEC and
available at www.sec.gov. If one or more of these risks or uncertainties
materialize, or if any of the Company's assumptions prove incorrect, the
Company's actual results may vary in material respects from those projected in
these forward-looking statements. Any forward-looking statement made by the
Company in this news release speaks only as of the date on which the Company
makes it. Factors or events that could cause the Company's actual results to
differ may emerge from time to time, and it is not possible for the Company to
predict all of them. The Company undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information, future
developments or otherwise, except as may be required by any applicable
securities laws.

About Five Below

Five Below is a rapidly growing specialty value retailer offering a broad
range of trend-right, high-quality merchandise targeted at the teen and
pre-teen customer. Five Below offers a dynamic, edited assortment of exciting
products, all priced at $5 and below, including select brands and licensed
merchandise across a number of category worlds – Style, Room, Sports, Media,
Crafts, Party, Candy and Seasonal. Five Below is headquartered in
Philadelphia, Pennsylvania.

CONTACT: Investor Contact:
         ICR, Inc.
         Farah Soi
         203-682-8200
         Farah.soi@icrinc.com
        
         Media Contact:
         Gregory FCA
         Joe Hassett
         610-642-8253
 
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