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August 30, 2015 4:59 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. It offers accessories, including novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, including 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, such as hand weights, jump ropes, and gym balls; games, including name brand...

1818 Market Street

Suite 2000

Philadelphia, PA 19103

United States

Founded in 2002

1,200 Employees

Phone:

215-546-7909

Key Executives for Five Below, Inc.

Chief Executive Officer, President and Director
Age: 50
Total Annual Compensation: $328.2K
Co-Founder and Executive Chairman
Age: 60
Total Annual Compensation: $700.0K
Co-Founder and Chairman Emeritus
Age: 60
Total Annual Compensation: $600.0K
Chief Financial Officer, Treasurer and Secretary
Age: 52
Total Annual Compensation: $378.7K
Executive Vice President of Merchandising
Total Annual Compensation: $17.3K
Compensation as of Fiscal Year 2014.

Five Below, Inc. Key Developments

Five Below, Inc. Approves Amendments to Articles of Incorporation

Five Below, Inc. at its Annual Meeting of Shareholders held on June 18, 2015, approved the amendment to the company's articles of incorporation and a corresponding amendment to the company's bylaws to replace the plurality voting standard in the uncontested election of directors with a majority voting standard and make conforming changes.

Five Below Announces to Open First Stores in Florida

Five Below announced its initial entry into Florida with the opening of nine stores on June 12, 2015. It expects to cut the ribbon on approximately 70 new stores this year, on top of opening 62 stores in 2014. Catering to teens, pre-teens and their parents, The company carries an ever-evolving and exciting assortment of cell phone cases and chargers, remote control cars, yoga pants, graphic tees, nail polish, baseball and soccer balls, tons of candy and seasonal must-haves for summer, Back-to-School, Christmas and more. Everything, everyday, is just $5 and below. Its stores are a vibrant, colorful and high-energy destination. With grand openings on June 12, 2015 marking its entry into Florida, Five Below will hold a weekend-long grand opening party. The celebration includes special giveaways and deals, including their famous five-cent hot dogs served in June 12 and June 13, 2015. The company products are grouped into one of eight in-store worlds: Style, Room, Sports, Tech, Crafts, Party, Candy and Now. Five Below's unique assortment features leading brands such as Lego®, Wilson®, Hasbro and Peeps and hot licenses from Disney® and Marvel® such as Frozen, Despicable Me, Avengers and Star Wars. Rounding out the assortment is merchandise packed with quality and value made exclusively for the company. The stores can be found at the following locations: Coconut Point: Coconut Point Shopping Center " 8024 Mediterranean Drive, Estero, FL 33928. Melbourne: Viera Shops " 7171 Lake Andrew Drive, Melbourne FL 32940. Orlando: International Drive Value Center " 5295 Touchstone Drive, Orlando FL 32819. The Crosslands Kissimmee " 630 Centerview Boulevard, Kissimmee FL 34741. Jacksonville: South Beach Regional Shopping Center " 3876-2 South Third Street, Jacksonville Beach, FL 32250. Argyle Village Shopping Center " 6001-62 Argyle Forest Boulevard, Jacksonville FL 32244. Tampa: Lake Walden Square " 115 West Alexander Street, Plant City, FL 33563. Cortez Commons " 12928 Cortez Boulevard, Brooksville, FL 34613. Sarasota: Sarasota Pavilion " 6571 South Tamiami Trail, Sarasota, FL 34321.

Five Below, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Provides Earnings Guidance for Second Quarter and Full Year 2015

Five Below, Inc. reported unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company's net sales increased by 22.0% to $153.7 million from $126.0 million in the first quarter of fiscal 2014 and comparable store sales increased by 1.7%. Operating income increased to $7.0 million from $5.3 million in the first quarter of fiscal 2014. Adjusted operating income, which excludes the impact of the founders' transaction in the first quarter of fiscal 2014, increased to $7.0 million from $6.1 million in the first quarter of fiscal 2014. GAAP net income was $4.3 million compared to $3.1 million in the first quarter of fiscal 2014. Adjusted net income, which excludes the impact of the founders' transaction in the first quarter of fiscal 2014, was $4.3 million compared to $3.6 million for the first quarter of fiscal 2014. GAAP diluted income per common share was $0.08 compared to $0.06 in the first quarter of fiscal 2014. Adjusted diluted income per common share, which is adjusted net income on an adjusted diluted weighted average shares outstanding basis in the first quarter of fiscal 2014, was $0.08 per share compared to $0.07 per share in the first quarter of fiscal 2014. Income before income taxes was $7,012,000 against $4,946,000 a year ago. Net cash used in operating activities was $784,000 against $4,113,000 a year ago. Capital expenditures were $10,738,000 against $10,170,000 a year ago. Effective tax rate for the first quarter of 2015 was 39% compared to 37.7% in the first quarter of 2014 as a result of changes in state tax rates. For the second quarter of fiscal 2015, net sales are expected to be in the range of $182 million to $185 million based on opening 25 new stores and assuming a 4% to 5% increase in comparable store sales. GAAP net income is expected to be in the range of $6.4 million to $7.0 million, with a GAAP diluted income per common share range of $0.12 to $0.13 on approximately 54.8 million estimated diluted weighted average shares outstanding. For fiscal 2015, net sales are expected to be in the range of $820 million to $828 million based on opening 70 new stores for the full year and assuming an approximate 3% increase in comparable store sales. GAAP net income is expected to be in the range of $56.4 million to $58.2 million, with a GAAP diluted income per common share of $1.03 to $1.06 on approximately 55.0 million estimated diluted weighted average shares outstanding. The company expects effective tax rate for the full year of 2015 to be 37.5%.

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