Company Overview of Five Below, Inc.
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
Philadelphia, PA 19103
Founded in 2002
Key Executives for Five Below, Inc.
Co-Founder and Executive Chairman
Total Annual Compensation: $700.0K
Co-Founder and Director
Total Annual Compensation: $600.0K
Chief Financial Officer, Treasurer and Secretary
Total Annual Compensation: $336.4K
Compensation as of Fiscal Year 2013.
Five Below, Inc. Key Developments
Five Below, Inc. Appoints Thomas G. Vellios as Executive Chairman Effective February 1, 2015
Feb 23 15
The Board of Directors of Five Below, Inc. appointed Thomas G. Vellios as Executive Chairman effective February 1, 2015. In connection with Mr. Vellios' appointment, on February 18, 2015, the Company and Mr. Vellios amended his employment letter, dated October 14, 2010, as amended, to reflect Mr. Vellios' position and compensation as Executive Chairman, effective as of February 1, 2015.
Five Below, Inc. Reports Sales Results for the Nine Weeks Ended January 3, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2014
Feb 12 15
Five Below, Inc. reported sales results for the nine weeks ended January 3, 2015. For the period, the company reported that comparable store sales increased 3.2% when compared to the same period of fiscal 2013. Net sales were $230.7 million, an increase of 24.5% from $185.3 million for the same period of fiscal 2013.
The company expects net sales for the fourth quarter of fiscal 2014 to be in the range of $262 million to $263 million, assuming an approximate 3% increase in comparable store sales. For the fourth quarter of fiscal 2014, the company also expects net income to be in the range of $32.5 million to $33 million, with a diluted income per common share range of $0.59 to $0.60 on approximately 54.7 million estimated weighted average shares outstanding.
The company continue to see strong performance from new stores and now expect to deliver total net sales growth for fiscal 2014 of 27% and adjusted net income growth of approximately 30%.
Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Five Below, Inc
Feb 9 15
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Five Below, Inc. securities between June 5, 2014 and December 4, 2014. The complaint alleges that while the company concealed from investors that its two founders intended to step down as CEO and Chairman, it also raised its fiscal 2014 sales and earnings guidance twice. The complaint further alleges that during this time Five Below's founders and Chief Financial Officer sold almost $30 million worth of their personally held shares at fraud-inflated prices. On December 4, 2014, Five Below disclosed that its sales growth had slowed and that it was reducing its sales and profit forecasts; it was also disclosed that the company's founders were resigning as CEO and Chairman. Upon this news, shares of Five Below fell more than 12%.
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