Specialty value retailer, Five Below, Inc. (FIVE), Tuesday announced that the total sales for the first quarter increased 33 percent to $95.6 million. Comparable store sales increased 4.2 percent for the three-month period. Further, the firm also raised its first quarter guidance.
For the first quarter, GAAP net income is expected to be in the range of $0.8 million to $1.3 million, or $0.01 to $0.02 per share. Excluding $0.9 million,in tax-effected expenses related to the founders' transaction, adjusted net income is now expected to be about $1.7 million to $2.2 million or $0.03 to $0.04 per share. Analysts anticipate the firm to report earnings of $0.03 per share for the quarter.
Thomas Vellios, Co-Founder, President and CEO said, "We opened 14 net new stores in the first quarter, of which 6 were opened during the last 9 days of the quarter and we are on track for the planned 60 net openings in 2013."
In a separate statement, the firm said that it had filed registration statement with SEC, relating to a proposed secondary offering of 8,563,172 shares of its common stock. The underwriters are expected to have a 30-day option to purchase an additional 1,284,475 shares of common stock. Five Below will not receive any proceeds from the sale of shares in this offering.
Goldman, Sachs & Co., Barclays Capital Inc., Jefferies LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers of the offering, UBS Securities LLC and Wells Fargo Securities LLC are the co-managers of the offering, and Goldman, Sachs & Co., Barclays Capital Inc. and Jefferies LLC are the representatives of the underwriters.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.